Global Waste to Energy Market Scenario
The global waste to energy market is projected to
register an impressive CAGR percentage over the forecast period between 2016
and 2023 as stated by Market Research Future (MRFR). A
detailed analysis report of COVID-19
impact on Waste to Energy Market Analysis is provided
with the report.
It is reported that the heightened consumption of
energy and the complexities that surround waste management due to the piling up
waste generation across the globe is generating the need for advanced forms of
technology that can be then used to convert waste into a form of consumable
energy with ease. Owing to the presence of a massive population base across
both developed and developing nations is accelerating the waste generation rate
in a consistent manner. This is prompting countries to take notice and develop
various new methods and techniques of waste management, one that can be
converted subsequently into consumable energy.
One of the major waste management solutions supporting
the generation of consumable energy is the recycling activities of waste
products to be then utilized for several domestic as well as industrial
purposes. The fast-paced exhaustion of non-renewable energy sources is pushing
the demand for various advanced technologies that can leverage energy from
alternative sources like waste. The growing demand for energy due to the
ongoing energy crises around the world caused due to the extraordinary
consumption of energy and the management of large waste materials is pushing
the growth of the global market. Also, the integration of advanced form of
technology in recycling machineries and the growing R&D activities for the
development of new and cost-effective waste to energy conversion techniques is
also a key driver of the global market in the coming years.
However, amidst all these, the lack of skilled
professionals for both operating and maintain waste to energy plants can be a
major hindrance to the growth of the market in the forthcoming years of the
forecast period.
Market Segmentation
The global waste to energy market segmentation is
done in terms of two component method and technology.
By technology, the market divides into thermal and
biological segments. Among these, the thermal segment is primed to be the
commanding technology and lead the global market with the highest share.
By method, the market includes pyrolysis,
incineration, fermentation, gasification, anaerobic digestion, and pyrolysis.
Regional Analysis
The global waste to energy market is geographically
distributed among the following key regions: North America, Europe, South
America, the Middle East & Africa, and Asia Pacific.
The Asia Pacific regional market holds the
commanding position in the global landscape with a dominant share percentage to
its name. The region is further expected to showcase considerable growth in the
waste to energy market due to the fast-paced generation of waste in Asia
Pacific. The increasing generation of waste materials and subsequently its
conversion into energy is due to the expanding population base, increasing
consumption of energy, and the prevalent awareness concerning the environment
in emerging nations like China, India, and Japan.
The Americas, comprising both North and South
America, is another key region in the waste to energy global market. The region
holds a key spot in the global standings and is expected to continue its hold
due to the expansion of the market herein. The strict rules and regulations
imposed by the government in regard to waste management and the deployment of
various technologically advanced solutions are factors driving the regional
market of North America.
Competitive Landscape
The global waste to energy market holds names such
as Covanta Energy Corporation, Constructions industrielles de la Méditerranée
(CNIM), Waste Management, Inc, C&G Environmental Protection Holdings, China
Everbright International Limited, Veolia Environment, and Suez Environment S.A
that are operating with utmost efficiency and putting in continuous efforts in
pushing the growth of the market.
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