Waste to Energy Market (WTE) size is expected to reach US$ 52.90 Bn by 2029, at a CAGR of 8.13% during the forecast period.
Waste to Energy Market Overview:
The Waste to Energy market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry's leading competitors. The scope of the research includes a full assessment of the Waste to Energy Market, as well as the reasons for variations in the industry's growth across a number of sectors.
Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Segmentation:
The governments from developed and developing countries are focusing on commercializing alternative energy sources such as Waste to Energy technologies as the fast depletion of conventional energy sources is taking place across the globe. Furthermore, the introduction of environmental rules targeted at decreasing carbon emissions from the use of fossil fuels is predicted to enhance industry growth. According to the US Environmental Protection Agency, every tonne of solid waste processed in waste to energy facilities reduces greenhouse gas emissions by one tonne. For instance, Covanta Holding Corporation in the United States recycles 500 kilotons of metal and converts around 21.0 million tonnes of waste into useful energy through its waste to energy facilities.
Based on the Waste type, the Waste to Energy Market is segmented into Municipal Waste, Process Waste, Agriculture Waste, Medical Waste, and Others. The Municipal Waste segment held the largest market share, accounting for 52% in 2020. Municipal Waste is made up of a variety of energy-dense items such as paper, plastics, yard waste, and wood-based products. Currently, the world generates 1.3 billion tonnes of Municipal Waste annually. For instance, in the United States, around 85 pounds of Municipal Waste is burned as fuel to generate power. Waste-to-energy plants convert 2,000 pounds of garbage into ash weighing between 300 and 600 pounds, reducing waste volume by roughly 87 percent.
Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Waste to Energy market are as follows:
• Waste Management Inc.
• Babcock Wilcox Enterprises Inv.
• Veolia Environnement SA
• Hitachi Zosen Corp
• China Everbright International Limited
• China Jinjiang Environment Holding Company Limited
• Covanta Holding Corporation
• Abu Dhabi National Energy Company PJSC
• Ramboll Group A/S
• Babcock Wilcox Enterprises, Inc.
• Wheelabrator Technologies Inc
• Xcel Energy Inc.
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Waste to Energy market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Waste to Energy Market:
End-user industries where Waste to Energy are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Waste to Energy manufacturers, affecting the Waste to Energy market's growth in 2020. End-user business demand for Waste to Energy has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Waste to Energy Market Report are:
- In 2021, which segment accounted for the most share of the Waste to Energy market?
- What is the competitive landscape of the Waste to Energy market?
- What are the key factors influencing Waste to Energy market growth?
- In the Waste to Energy market, which region has the most market share?
- What will be the CAGR of the Waste to Energy market during the forecast period (2022-2027)?
