Market summary: Global waste to energy sector
This article is a market summary of the global waste to the energy market. In 2016 the global waste to energy market was worth around $32,567m. And predictions suggest that the global waste to energy market by 2023 will increase to at least $54,179m.
Waste-to-energy(WtE) recovers energy from the treatment of waste, usually in the form of heat or electricity.
The market is fragmented at a local level with many players developing significant business to cater for local requirements. But the biggest companies are involved in this market. And these include:
- Firstly, Veolia Environment
- Suez Environment
- Foster Wheeler
- Babcock & Wilcox Enterprises
- China Everbright International
- Waste Management Inc
- C&G Environmental Protection
- Constructions Industrielles de la Mediterranee
- Then there's PJSC, the Abu Dhabi National Energy Company
- And Covanta Energy Corporation
Market segmentation is built on geographical and technological considerations. Europe, Asia-Pacific, Latin America, Middle East, Africa and the US will experience the most growth.
Not surprisingly, the global waste to energy market has experienced significant growth opportunities around the world thanks to governments, states, and local authorities encouraged to reduce pollution and landfill, as well as reducing the exportation of waste to developing countries. And along with the search for more sustainable alternative fuels sources, the associated increased public spending on WtE and the relative simplicity of burning rubbish has encouraged a significant demand for waste incineration processes.
The gasification sector should experience a CAGR of 7.5% to 2034. But environmental concerns associated with the burning of waste may affect market growth.
Also biological and bifurcation solutions should see the introductions on new processes in transferring energy from waste to heat or electricity. Currently, the process is usually undertaken by burning waste. Or creating combustible fuel, including:
- Also various synthetic fuels
- And also ethanol
The thermal segment includes incineration and gasification, as well as pyrolysis.
Significant investment expected in researching and developing processes. So to reduce environmental concerns and provide more growth opportunities. So expect plenty of M&A activities, market penetration involving the large players in the market.
This article was a market summary of the global waste to energy market. And if we can help to dig further into the future of this market, please let us know.