Global Waste to Energy Technology Market Overview:
As per MRFR analysis, the Waste to Energy Technology Market Size was estimated at 49.66 (USD Billion) in 2022. The Waste to Energy Technology Market Industry is expected to grow from 53.51 (USD Billion) in 2023 to 104.8 (USD Billion) by 2032. The Waste to Energy Technology Market CAGR (growth rate) is expected to be around 7.75% during the forecast period (2024 - 2032).
Key Waste to Energy Technology Market Trends Highlighted
Key market drivers:
Government policies promoting renewable energy and waste reduction, rising energy demand, and the need to address environmental concerns are the primary drivers propelling the growth of the waste-to-energy technology market.
Opportunities to be explored or captured:
Growing investments in developing countries, technological advancements such as gasification and pyrolysis, and the potential for waste-to-energy projects to generate revenue through energy sales present significant growth opportunities in the market.
Trends in recent times:
Focus on sustainability and circular economy principles is driving the adoption of waste-to-energy technologies. Advanced waste sorting and pretreatment techniques are improving the efficiency and environmental performance of waste-to-energy plants. Integrated waste management strategies that combine waste-to-energy with recycling and composting are gaining popularity. Governments are implementing incentive programs and regulations to support the development and deployment of waste-to-energy technologies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Waste to Energy Technology Market Drivers
Increasing Waste Generation and Environmental Concerns
The increasing generation of Waste worldwide is a major driver for the growth of the waste-to-energy technology market industry. As populations grow and economies develop, so does the amount of Waste produced. This Waste can have a negative impact on the environment, polluting air, water, and land. Waste-to-energy (WtE) technologies offer a way to reduce the environmental impact of Waste by converting it into energy. By incinerating Waste or using other thermal processes, WtE technologies can generate Electricity, heat, or steam.
This can help to reduce the reliance on fossil fuels and reduce greenhouse gas emissions. Additionally, WtE technologies can help reduce the amount of Waste that is sent to landfills, which can conserve valuable land resources and reduce the risk of contamination.
Government Support and Regulations
Government support and regulations are also driving the growth of the Waste to Energy Technology Market Industry. Many governments are implementing policies that encourage the use of renewable energy sources and reduce the environmental impact of Waste. This includes providing financial incentives for WtE projects and setting targets for waste reduction and recycling. Regulations that limit the landfilling of Waste are also driving the adoption of WtE technologies.
Technological Advancements
Technological advancements are also contributing to the growth of the Waste to Energy Technology Market Industry. New and innovative WtE technologies are being developed that are more efficient and cost-effective. These technologies are making it more feasible for businesses and governments to invest in WtE projects. Additionally, advancements in emissions control technologies are reducing the environmental impact of WtE facilities.
Waste to Energy Technology Market Segment Insights:
Waste to Energy Technology Market Feedstock Insights
The Waste to Energy Technology Market is segmented by feedstock into Municipal Solid Waste, Industrial Waste, Agricultural Waste, Construction and Demolition Waste, and Medical Waste. Among these segments, Municipal Solid Waste is expected to hold the largest share of the market in 2023 due to the increasing generation of municipal solid Waste worldwide. The Waste to Energy Technology Market for Municipal Solid Waste is expected to reach USD 26.55 billion by 2024, growing at a CAGR of 8.2% from 2023 to 2032. Industrial Waste is expected to be the second-largest segment of the Waste to Energy Technology Market in 2023 due to the growing demand for waste-to-energy technologies in industries such as manufacturing, mining, and construction.
The Waste to Energy Technology Market for Industrial Waste is expected to reach USD 18.42 billion by 2024, growing at a CAGR of 7.9% from 2023 to 2032. Agricultural Waste is expected to be the third-largest segment of the Global waste-to-energy technology Market in 2023 due to the increasing generation of agricultural Waste worldwide. The Waste to Energy Technology Market for Agricultural Waste is expected to reach USD 12.31 billion by 2024, growing at a CAGR of 7.6% from 2023 to 2032. Construction and Demolition Waste is expected to be the fourth-largest segment of the Global Energy Technology Market in 2023 due to the growing demand for waste-to-energy technologies in the construction and demolition industry.
The Waste to Energy Technology Market for Construction and Demolition Waste is expected to reach USD 10.43 billion by 2024, growing at a CAGR of 7.4% from 2023 to 2032. Medical Waste is expected to be the smallest segment of the Waste to Energy Technology Market in 2023 due to the stringent regulations surrounding the disposal of medical Waste. The Waste to Energy Technology Market for Medical Waste is expected to reach USD 5.69 billion by 2024, growing at a CAGR of 7.1% from 2023 to 2032.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Waste to Energy Technology Market Technology Type Insights
The Waste to Energy Technology Market is segmented by Technology Type into Incineration, Gasification, Pyrolysis, Plasma Gasification, and Anaerobic Digestion. Incineration was the most widely used technology, accounting for over 50% of the global market share in 2023. It involves burning Waste at high temperatures to generate heat and Electricity. Gasification is another popular technology that converts Waste into a combustible gas that can be used for power generation or heating. Pyrolysis is a thermochemical process that breaks down Waste into a liquid, a gas, and a solid residue.
Plasma Gasification is a high-temperature process that uses plasma to convert Waste into a synthesis gas, which can be used for power generation or as a feedstock for other processes. Anaerobic Digestion is a biological process that breaks down organic Waste in the absence of oxygen, producing biogas that can be used for power generation or heating.
Waste to Energy Technology Market End Product Insights
The Waste to Energy Technology Market is segmented based on end products, which are Electricity, heat, steam, biogas, and Biofuel. Among these, Electricity is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The increasing demand for Electricity from various sectors, including industrial, residential, and commercial, is driving the growth of the Electricity segment. Heat is another significant product, witnessing substantial demand due to its applications in district heating, space heating, and industrial processes.
Steam is also gaining traction as it can be utilized for power generation, industrial processes, and heating purposes. Biogas and Biofuel, derived from Waste, offer sustainable energy alternatives and are expected to contribute to the market growth in the coming years.
Waste to Energy Technology Market Capacity Insights
The Waste to Energy Technology Market is segmented by capacity into Less than 10 MW, 10-50 MW, 50-100 MW, 100-200 MW, and Over 200 MW. The 10-50 MW segment is expected to witness the highest growth rate during the forecast period, owing to the increasing adoption of waste-to-energy technologies in small and medium-sized municipalities. The Over 200 MW segment accounted for the largest share of the Waste to Energy Technology Market revenue in 2023, due to the growing demand for large-scale waste-to-energy plants in developed economies.
The Less than 10 MW segment is expected to account for a significant share of the market, owing to the increasing adoption of small-scale waste-to-energy technologies in remote and rural areas. Overall, the Waste to Energy Technology Market is expected to witness significant growth in the coming years, driven by the increasing demand for sustainable waste management solutions and the growing adoption of waste-to-energy technologies worldwide.
Waste to Energy Technology Market Application Insights
The Application segment of the Waste to Energy Technology Market is segmented into Power Generation, District Heating, Industrial Processes, Wastewater Treatment, and Transportation Fuel. Power Generation was the dominant segment, accounting for over 50% of the global market revenue in 2023. This segment is expected to continue its dominance throughout the forecast period, driven by the increasing demand for Electricity and the need for sustainable energy sources. The District Heating segment is also expected to witness significant growth, owing to the increasing adoption of district heating systems in urban areas.
The Industrial Processes segment is expected to grow steadily, driven by the demand for waste-to-energy solutions in various industries. The Wastewater Treatment segment is expected to witness moderate growth, driven by the increasing need for wastewater treatment and the potential for waste-to-energy solutions in this sector. The Transportation Fuel segment is expected to grow at a steady pace, driven by the increasing demand for alternative fuels and the potential for waste-to-energy solutions in the transportation sector.
Waste to Energy Technology Market Regional Insights
The Waste to Energy Technology Market is segmented by region and comprises North America, Europe, APAC, South America, and MEA. Among these regions, North America accounts for the largest revenue share in the Global Waste Energy Technology Market. The growth of the regional market is attributed to the increasing adoption of waste-to-energy technologies by municipalities and industries to manage Waste and generate renewable energy. Europe holds the second-largest revenue share in the Waste to Energy Technology Market due to strict environmental regulations and government support for waste-to-energy projects.
The APAC region is expected to witness significant growth in the market owing to the rising waste generation and increasing investments in waste management infrastructure. South America and MEA offer growth opportunities for market players due to the increasing urbanization and industrialization in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Waste to Energy Technology Market Key Players and Competitive Insights:
Major players in the Waste to Energy Technology Market industry are continuously focusing on developing new technologies to improve the efficiency of waste-to-energy conversion processes. Leading Waste to Energy Technology Market players are also investing in research and development activities to explore new and innovative ways to generate energy from Waste. The waste-to-energy technology Market is expected to witness significant growth over the forecast period, owing to increasing awareness about environmental sustainability and the need for effective waste management solutions. The competitive landscape of the waste-to-energy technology Market is expected to remain intense, with established players and new entrants vying for market share. Key players in the waste-to-energy technology Market are actively involved in mergers and acquisitions to expand their product portfolios and strengthen their market positions.
A prominent player in the waste-to-energy technology Market is Hitachi Zosen Inova. The company offers a wide range of waste-to-energy solutions, including incineration, gasification, and pyrolysis technologies. Hitachi Zosen Inova has a global presence and has successfully implemented waste-to-energy projects in various countries across the world. Another key player in the Waste to Energy Technology Market is Covanta Holding Corporation. The company provides waste management services, including waste-to-energy solutions. Covanta Holding Corporation has a strong presence in North America and Europe and has been involved in the development of several large-scale waste-to-energy projects.
Furthermore, Babcock & Wilcox Enterprises, Inc. is a notable player in the Waste to Energy Technology Market. The company offers a range of waste-to-energy technologies, including circulating fluidized bed combustion and stoker grate combustion technologies. Babcock & Wilcox Enterprises, Inc. has a global presence and has implemented waste-to-energy projects in various countries. The company is actively involved in research and development activities to improve the efficiency and environmental performance of its waste-to-energy technologies.
Key Companies in the Waste to waste-to-energy technology Market Include:
- FOSTER WHEELER
- Hyundai Engineering Construction
- Keppel Seghers
- Wheelabrator Technologies
- Covanta Energy
- Babcock Wilcox Enterprises
- Viridor Waste Management
- Hitachi Zosen
- Martin GmbH
- C Recycling
- Doosan Heavy Industries Construction
- Mitsubishi Heavy Industries
- Veolia
- Suez
Waste to Energy Technology Market Industry Developments
The global waste-to-energy technology market is expected to witness significant growth in the coming years, driven by increasing waste generation, stringent environmental regulations, and government initiatives to promote sustainable waste management practices. Technological advancements, such as the development of more efficient and cost-effective waste-to-energy conversion technologies, are also contributing to the market's growth.
Recent news developments in the market include the launch of new waste-to-energy plants and partnerships between key players. For instance, in 2023, Covanta Holding Corporation and WHEELABRATOR Technologies Inc. announced a joint venture to develop, construct, and operate waste-to-energy facilities in the United States. Such collaborations are expected to accelerate the adoption of waste-to-energy technologies and drive market expansion.
Waste to Energy Technology Market Segmentation Insights
Waste to Energy Technology Market Feedstock Outlook
- Municipal Solid Waste
- Industrial Waste
- Agricultural Waste
- Construction and Demolition Waste
- Medical Waste
Waste to Energy Technology Market Technology Type Outlook
- Incineration
- Gasification
- Pyrolysis
- Plasma Gasification
- Anaerobic Digestion
Waste to Energy Technology Market End Product Outlook
- Electricity
- Heat
- Steam
- Biogas
- Biofuel
Waste to Energy Technology Market Capacity Outlook
- Less than 10 MW
- 10-50 MW
- 50-100 MW
- 100-200 MW
- Over 200 MW
Waste to Energy Technology Market Application Outlook
- Power Generation
- District Heating
- Industrial Processes
- Wastewater Treatment
- Transportation Fuel
Waste to Energy Technology Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
49.66(USD Billion) |
| Market Size 2023 |
53.51(USD Billion) |
| Market Size 2032 |
104.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.75% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
FOSTER WHEELER, Hyundai Engineering Construction, Keppel Seghers, Wheelabrator Technologies, Covanta Energy, Babcock Wilcox Enterprises, Viridor Waste Management, Hitachi Zosen, Martin GmbH, C Recycling, Doosan Heavy Industries Construction, Mitsubishi Heavy Industries, Veolia, Suez |
| Segments Covered |
Feedstock, Technology Type, End Product, Capacity, Application, Regional |
| Key Market Opportunities |
Emerging regions with rapid urbanization and waste generation: India, China, and Southeast Asia ย Government regulations promoting sustainable waste management Carbon tax policies and incentives for renewable energy ย Advancements in gasification and plasma technologies Enhanced efficiency and reduced environmental impact ย Growth in industrial and commercial Waste Increasing demand for cost-effective waste disposal solutions ย Investments in waste-to-energy infrastructure Public-private partnerships and financing initiatives |
| Key Market Dynamics |
1 Increasing waste generation 2 Government regulations and incentives 3 Technological advancements 4 Rising energy demand 5 Growing urbanization |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Waste to Energy Technology Market reached a valuation of USD 53.51 billion in 2023, witnessing steady growth over the forecast period.
The increasing demand for sustainable waste management solutions, government regulations promoting waste-to-energy conversion, and technological advancements in waste-to-energy technologies are the primary factors driving the growth of the Waste to Energy Technology Market.
The North American region is anticipated to dominate the Waste to Energy Technology Market due to rapid urbanization, growing waste generation, and supportive government policies promoting waste-to-energy projects.
Waste to Energy Technology finds applications in various sectors, including municipal solid waste management, industrial waste treatment, and hazardous waste disposal, among others.
The Waste to Energy Technology Market is projected to expand at a CAGR of 7.75% from 2023 to 2032.
Key players in the Waste to Energy Technology Market include Covanta Holding Corporation, Veolia Environnement S.A., Babcock Wilcox Enterprises, Inc., CNIM Group, and Hitachi Zosen Corporation.
Challenges faced by the Waste to Energy Technology Market include high capital costs, stringent environmental regulations, and public concerns regarding emissions.
Growth opportunities in the Waste to Energy Technology Market stem from increasing investments in waste management infrastructure, technological advancements, and favorable government policies.
The regulatory landscape for the Waste to Energy Technology Market varies across regions, with stringent environmental regulations in developed countries and emerging regulations in developing countries.
Key trends shaping the Waste to Energy Technology Market include the adoption of advanced technologies, such as gasification and plasma gasification, increasing focus on waste sorting and recycling, and growing awareness of the environmental benefits of waste-to-energy conversion.
