Waste to energy conversion is a process of generating energy by the treatment of waste material and garbage from different sections of the society. The burning of waste produces combustible fuel such as synthetic fuels, ethanol, methanol and methane. Waste to energy conversion is highly beneficial to produce heat or electricity to be used in various sectors worldwide. The use of combustion and bacterial fermentation to recover energy in the form of electricity and steam, from urban wastes decreases the volume of the original waste by 90%. Also, waste contains fossil derived materials such as plastics which are not renewable. Therefore, proper treatment of effluents and decayed products from industrial, residential or medical sectors can provides renewable and environment-friendly source of energy. It leads to reduction in the use of fossil fuels and carbon emissions. The Waste to Energy Market size was estimated at USD 33299.7 million in 2020, and is expected to reach USD 67995.95 million by 2030, growing with a CAGR of 7.4%

Market Segmentation:

On the basis of waste type, the waste to energy market is majorly segmented into municipal waste, agricultural waste and medical waste. By technology, the market is categorised into thermal and biological. By application, the waste to energy market is divided into electricity, heat, power unit and transport. By region, the market is classified into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Growing energy demand and depletion of conventional energy resources are the major factors driving the waste to energy market. Production of reusable energy from waste by using thermal and biological technology is gaining global attention. In thermal technology, incineration is the most well-known procedure for the processing of MSW (Municipal Solid Waste). Industrial wastes such as toxic chemicals along with medicinal wastes like syringe, used bandages, tissues and other medical supplies increase the soil pollution when submerged in landfills. Hence, anaerobic digestion is becoming commercially viable to treat the waste biologically and produce biogas. The energy is also used in transport fuel like bio-diesel and bio-jet fuel. Furthermore, ethanol is produced by blending of gasoline and ethanol which is expected to positively impact the global waste to energy market. The major restraining factor is the high construction cost of waste to energy plants and their maintenance charges. Anaerobic digestion process takes five years to complete which is a hindrance to the waste to energy market growth. However, government initiatives to provide clean energy, encouragements to use bio – CNG and PPP (Private Public partnerships) are expected to bring new opportunities in the near future.

Geographic Analysis:

Asia-Pacific is currently dominating the market due to the efforts taken by the government in adopting better waste management practices, pilot projects such as O&M30 contract and investments in R&D projects recently. Owing to the rapid urbanization, the generation of municipal solid waste has been increasing rapidly in countries like China and India. This has led to increase in the number of incineration plants under Chinese President Xi Jinping’s plan to reduce pollution in the country. In Europe, almost 41 biomethane plants were established in 2016 and is continuing to progress, according to a recent study. North America has emerged as a global waste to energy market in technological advancements  due to the demand to achieve low carbon footprint, minimize greenhouse gas emissions and continuous supply of power attributed to the speedy depletion of fossil fuels such as petroleum & coal. North America and Europe are anticipated to contribute a huge share in global revenue generation in the forecast period.

Competitive Scenario:

Key players in waste to energy industry are Waste Management Inc. (The U.S.), Suez Environment S.A. (France), C&G Environmental Protection Holdings (Hong Kong), Mitsubishi Heavy Industries Ltd (Japan), Waste Management Inc. (The U.S.), Veolia Environnement SA (France), Hitachi Zosen Corp (Japan), China Everbright International Limited (China), and China Jinjiang Environment Holding Company Limited (China).

Waste to Energy Market Report Scope