Westford, USA, Oct. 14, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Waste to Energy Market will reach a value of USD 73.83 Billion by 2031, with a CAGR of 7.5% during the forecast period (2024-2031). The rising energy requirements from the end-use sector, on the other hand, combined with favorable regulatory policies that support effective waste management and power production, is predicted to be the biggest driver of market growth in the next available years. As conventional energy resources are being depleted at a rather alarming rate, governments are shifting their priorities toward commercializing alternative sources of energy, including Waste-to-Energy (WTE) technologies. Moreover, this industry is undergoing growth spurts due to the introduction of environmental regulations related to reduction of carbon emissions through the use of fossil fuels.
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Browse in-depth TOC on the "Waste to Energy Market Report", Pages – 182, Tables – 63, Figures – 75
Waste to Energy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 41.40 Billion |
| Estimated Value by 2031 | USD 73.83 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.5 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Waste Type, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Innovations in Waste to Energy Market |
| Key Market Opportunities | Funding and Incentives |
| Key Market Drivers | Rising Waste Generation |
Thermal Conversion Simplifying Waste Management for Modern Cities
In the waste-to-energy, the thermal category has the highest share of sales. The mode of incineration is one of the thermal techniques that has seen a huge rise in overall market revenues and is largely responsible for this domination. For waste-to-energy projects, they are very attractive because thermal conversion methods are very simple and easy to apply. Thermal treatment also provides contemporary cities with an environmentally friendly response. This does it because it significantly reduces the volume of trash, lowers the amount of greenhouse gases emitted, and totally burns the gases emitted by garbage.
Agricultural Waste Fueling Future of Waste-to-Energy
Agricultural waste accounts for the greatest market share in the waste to energy market because huge gasification and pyrolysis processes are used. Global agricultural output is predicted to increase in the market because of increased crop residues, manure, and silt waste. These processes eliminate problems concerning waste management, as it makes organic waste turn into energy. This could be further complemented with agricultural by-products containing pesticides and herbicides to enhance this potential as a reliable feedstock in the WtE landscape.
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Government Initiatives Propel Waste to Energy Growth in Asia-Pacific
Due to rising economic activities and subsequent waste generation, Asia Pacific has become the largest market leader. Furthermore, numerous governments are encouraging the construction of WtE plants, and thus, Asia-Pacific is expected to capture the largest share during the forecast period. For instance, Japan has been one of the leading countries in the Asia-Pacific market along with others. Japan's success in converting waste to energy is driven by its highly efficient solid waste management system. Additionally, strong financial support from both national and local governments fuels projects ranging from small to large scale. Also, the nation aims at putting up the latest technologies to recycle all types of waste or garbage to turn them properly into resources while protecting the environment.
Waste to Energy Market Insights
Drivers
- Rising Waste Generation
- Sustainability Goals
- Growing Energy Demand
Restraints
- High Initial Capital Costs
- Competition from Other Energy Sources
- Technical Limitations
Key Players Operating in the Waste to Energy Market
- A2A S.p.A.
- Fortum Corporation
- HZI
- KBR, Inc.
- Nippon Steel Engineering Co., Ltd.
- RWE AG
- E.ON SE
- Hitachi Zosen Inova
- TOMRA Systems ASA
- Waste Management, Inc.
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Key Questions Covered in the Waste to Energy Market Report
- What are the factors driving the growth of the global market?
- Which is the dominant region within the market?
- What are the major players operating within the market?
This report provides the following insights:
- Analysis of key drivers (rising waste generation, increasing energy demand), restraints (high initial capital costs, competition with other energy sources), opportunities (innovative business models, technical innovations), and challenges (infrastructure need, waste composition variability) influencing the growth of the waste to energy market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the waste to energy market.
- Market Development: Comprehensive information on lucrative emerging regions.
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market.
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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