The report “Global Waste to Energy Market, By Technology (Thermal (Incineration, Pyrolysis and Gasification)), and Biological), and Region - Global Forecast to 2029"
Waste to energy market is projected to grow from US$ 33.3 billion in 2020 to US$ 64.1 billion by 2029. The growth of the waste to energy market is driven by growing demand for conversion of energy by solid and municipal waste from safe and environmental friendly waste disposal methods. Also, the rising amount of global waste generation drives growth of the global waste to energy market.
Key Highlights:
- In 2018, Mitsubishi Heavy Industries Environmental & Chemical Engineering Co. Ltd (MHIEC) was awarded an order from Kawasaki City (Kanagawa Prefecture), to build its Tachibana waste-to-energy (WtE) plant in Japan. Once completed, the municipal solid waste incineration plant is expected to have a total waste treatment capacity of 600 metric tons per day (tpd).
Key Market Insights from the report:
The global waste to energy market accounted for US$ 33.3 billion in 2020 and is projected to register a moderate CAGR of 7.5% over the forecast period. The market report has been segmented on the basis of technology, and region.
- By technology, the global waste to energy market is segmented into thermal and biological.
- By region, Asia Pacific account significant share in global waste to energy market owing to energy consumption in several countries in Asia such as India, Indonesia, Thailand, Malaysia, and South Korea. In addition, increase in investments by various governing bodies, specifically in countries of Asia-Pacific, such as China and India leads to growth of the global waste to energy market.
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The prominent player operating in the global waste to energy market includes Novo Energy Ltd., Mitsubishi Heavy Industries Ltd, Hitachi Zosen corporation, Foster Wheeler A.G., Sierra Energy, Xcel Energy Inc., China Everbright International limited, Covanta Energy Corp., Green Conversion Systems LLC, and Babcock and Wilcox Enterprises.
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