LONDON, May 30, 2022 (GLOBE NEWSWIRE) — Increasing energy demand and, in contrast, declining conventional energy resources require waste-to-energy conversion as an alternative way to generate energy. Surpasses 2020 valuation of $25.7 billion global waste-to-energy (WtE) market is poised for strong growth prospects between 2021 and 2025. The latest report from Fairfield Market Research anticipates that the market will continue to thrive going forward as the renewable energy sector continues to be in the spotlight.
- Global daily waste generation is expected to reach around 6 MT by the end of 2025
- The Waste-to-Energy market is forecast to have a robust CAGR of more than 7% over the assessment period
- The role of governments will remain crucial in building the waste-to-energy market
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Tightening of the regulatory grip on the MSW management benefits market
Increasing concerns about landfills have reinforced stringent municipal solid waste (MSW) management legislation. The role of governments in encouraging the adoption of the WtE energy generation pathway in the form of subsidies is likely to be critical to market expansion. As a greater number of municipalities worldwide consider the functionality of waste-to-energy plants to solve concerns about waste generation, the market is likely to see new opportunities.
Thermal conversion required
It is expected that thermal conversion will remain preferred due to its excellent ability to reduce waste weight by approximately 75% and volume by almost 90%. The cost benefit is another benefit supporting the adoption of incineration as the preferred WtE technology. However, significantly high initial capital investments remain an obstacle to rapid market growth, in addition to a constant threat from a more economically viable alternative, namely natural gas.
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Europe leads in terms of installed WtE capacity
The report shows that Europe has been dominant in terms of the installed base of waste-to-energy plants and this trend will continue into 2025. The region continues to benefit from the government’s supportive regulatory framework. North America, led by the US, is also expected to be a key market due to the rapidly growing installation of waste incineration plants across the region. The Asia-Pacific region, on the other hand, remains a very attractive market as permits for new waste incinerators have increased recently.
The major players are Suez Environment, Veolia, Covanta Holding Corporation, Keppel Corporation Limited and China Everbright International Limited are the top players in the global Waste to Energy market.
SCOPE AND SEGMENTATION OF THE REPORT:
|report highlights||Key Market Indicators, Macro-Microeconomic Impact Analysis, Technology Roadmap, Key Trends, Drivers, Constraints and Future Opportunities and Revenue Streams, Porter’s 5 Forces Analysis, Historical Trend (2017-2019), Price Trend Analysis – 2019-2025, Market Estimates and Forecasts, Market Dynamics , Industry Trends, Competitive Landscape, Category, Region, Country-Specific Trends and Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)|
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