Waste to Energy Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The report covers Global Waste to Energy Market Companies and it is Segmented by Technology (Physical, Thermal, and Biological) and Geography (North America, Asia-Pacific, Europe, South America, and Middle East and Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Waste to Energy (WTE) Market Size

Waste-to-Energy (WtE) Market Summary
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Study Period 2019 - 2028
Market Size (2023) USD 54.40 Billion
Market Size (2028) USD 77.55 Billion
CAGR (2023 - 2028) 7.35 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Waste-to-Energy (WtE) Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Waste to Energy (WTE) Market Analysis

The Waste-to-Energy (WtE) Market size is estimated at USD 54.40 billion in 2023, and is expected to reach USD 77.55 billion by 2028, growing at a CAGR of 7.35% during the forecast period (2023-2028).

reaching a market size of USD 74 billion by 2027, up from USD 49 billion in 2020. The COVID-19 outbreak had a moderate impact on the global waste-to-energy market due to reduced investments in new projects caused by a global economic slowdown. The market is expected to revive toward the latter part of the forecast period after the global economy's revival. In addition to this, an increasing amount of waste generation and growing concern for waste management to meet the need for sustainable urban living, and increasing focus on non-fossil fuel sources of energy are driving the demand for the waste-to-energy market. The market growth is expected to be restrained by the expensive nature of incinerators, particularly as energy prices decline and several plants are unable to cover operating costs. Furthermore, several European and Asia-Pacific countries are planning to focus more on recycling, which saves three to five times more energy, thus, restraining the waste-to-energy market.

  • Thermal technology is expected to dominate the waste-to-energy market in the coming years, owing to the increasing development in incineration and gasification technologies, as well as the increasing amount of waste generated, especially from the emerging economies of Asia-Pacific.
  • Emerging waste-to-energy technologies, such as Dendro Liquid Energy (DLE), which is four times more efficient in terms of electricity generation, with additional benefits of no emission discharge and effluence problems at plant sites, are expected to create significant opportunities for the market players, over the coming years.
  • Asia-Pacific dominated the market across the world, with the majority of demand coming from the countries such as China, India, and Japan.

Waste to Energy (WTE) Market Trends

Thermal-based Waste-to-Energy Segment to Dominate the Market

  • Thermal technology is expected to account for the highest market share in the waste-to-energy market during the forecast period, owing to the increasing development of waste incineration facilities across the world.
  • It is estimated that plants that utilize thermal power cogeneration (heating and cooling) and electricity generation can reach optimum efficiencies of 80%. According to the International Renewable Energy Agency, the global bioenergy capacity accounted for 148.9 GW in 2022, with an annual growth rate of 5.3% compared to the previous year.
  • In the present scenario, incineration is the most well-known waste-to-energy technology for municipal solid waste (MSW) processing. However, waste-to-energy technologies, particularly incineration, produce pollution and carry potential health safety risks. To reduce particulate and gas-phase emissions, incineration plant owners have adopted a series of process units for cleaning the flue gas stream, which has, in turn, led to a significant improvement in environmental sustainability.
  • In February 2022, Solvay and Veolia began constructing a cogeneration unit to provide renewable energy for France's Dombasle-sur-Meurthe soda ash production plant by replacing coal with refuse-derived fuel (RDF). The project entails replacing three coal-fired boilers with a boiler room outfitted with two furnaces that run on RDF, made of previously stored non-hazardous waste.
  • The thermal-based waste-to-energy conversion is expected to lead the market, especially in Asia-Pacific's growing economies, where the rising urban population is projected to be the key contributing factor to increasing municipal solid waste (MSW).
Waste-to-Energy (WtE) Market - Bioenergy capacity, in GW, Global, 2018-2022

Asia-Pacific to Dominate the Market

  • Asia-Pacific witnessed significant development in the waste-to-energy industry in the past few years. It has dominated the market across the world with increasing efforts taken by the government to adopt better municipal solid waste (MSW) management practices, providing incentives for waste-to-energy projects in the form of capital subsidies and feed-in tariffs and financial support for R&D projects on a cost-sharing basis.
  • Due to economic development and rapid urbanization in China, the generation of municipal solid waste (MSW) has increased rapidly. Therefore, the effective disposal of municipal solid waste has become a serious environmental challenge in China.
  • In December 2022, the Minister of Urban Local Bodies (ULB) inaugurated work on the country's largest waste-to-energy (WTE) plant in Gurugram. Ecogreen Energy, a waste management concessionaire, plans to build a 25-MW waste-to-energy facility on 10 acres of property in Bandhwadi.
  • Japan has been one of the leading markets for waste-to-energy in Asia-Pacific. The country's waste-to-energy market is driven by efficient solid waste management and financial support for waste-to-energy projects from both national and local governments. The country is expected to introduce waste management and recycling technologies to preserve the enviroment, effectively turning waste into resources or appropriately disposing of it.
  • Therefore, factors such as the increasing amount of waste generated and the efforts taken by various governments to tackle this situation are expected to boost the demand for waste-to-energy plants in Asia-Pacific during the forecast period.
Waste-to-Energy (WtE) Market - Growth Rate by Region, 2023-2028

Waste to Energy (WTE) Industry Overview

The waste-to-energy (WtE) market is moderately fragmented. Some of the major players operating in this market (in no particular order) include Mitsubishi Heavy Industries Ltd, Waste Management Inc., A2A SpA, Veolia Environnement SA, and Hitachi Zosen Corp.

Waste to Energy (WTE) Market Leaders

  1. Mitsubishi Heavy Industries Ltd

  2. Waste Management Inc.

  3. A2A SpA

  4. Veolia Environnement SA

  5. Hitachi Zosen Corp

*Disclaimer: Major Players sorted in no particular order

Waste-to-Energy (WtE) Market Concentration

Waste to Energy (WTE) Market News

  • In April 2023, Egypt signed a USD 120 million contract to design, develop, own, and manage the country's first solid waste-to-electricity facility. The contract was signed by the Giza governorate and a partnership consisting of Renergy Egypt and the National Authority for Military Production. As part of Egypt Vision 2030, the Abou Rawash, Giza plant would convert 1,200 metric tons of household solid waste per day to power.
  • In January 2023, Lostock Sustainable Energy Plant awarded Babcock & Wilcox a contract to support the delivery of the power train for a waste-to-energy plant near Manchester in the United Kingdom. The plant will create more than 60 MW of energy for people and companies and process around 600,000 metric tons of garbage every year. The contract is valued at USD 65 million.
  • In August 2022, the state urban development and housing department intended to build a waste-to-energy plant at Ramachak Bairiya on the Patna-Gaya route as part of its ambitious integrated solid waste management project. The goal is to ensure that all waste products are disposed of scientifically at the plant.

Waste to Energy (WTE) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast, in USD million, till 2028

    3. 4.3 Municipal Solid Waste (MSW) Generation, in billion metric ton, till 2028

    4. 4.4 Government Policies and Regulations

    5. 4.5 Recent Trends and Developments

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

        1. 4.6.1.1 Increasing Amount of Waste Generation, Growing Concern for Waste Management to Meet the Needs for Sustainable Urban Living

        2. 4.6.1.2 Increasing Focus on Non-fossil Fuel Sources of Energy

      2. 4.6.2 Restraints

        1. 4.6.2.1 Expensive Nature of Incinerators

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitutes Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Physical

      2. 5.1.2 Thermal

      3. 5.1.3 Biological

    2. 5.2 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Rest of the North America

      2. 5.2.2 Asia-Pacific

        1. 5.2.2.1 China

        2. 5.2.2.2 India

        3. 5.2.2.3 Japan

        4. 5.2.2.4 Rest of the Asia-Pacific

      3. 5.2.3 Europe

        1. 5.2.3.1 United Kingdom

        2. 5.2.3.2 France

        3. 5.2.3.3 Germany

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of the Europe

      4. 5.2.4 Middle East and Africa

        1. 5.2.4.1 United Arab Emirates

        2. 5.2.4.2 Saudi Arabia

        3. 5.2.4.3 South Africa

        4. 5.2.4.4 Rest of Middle East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Mitsubishi Heavy Industries Ltd

      2. 6.3.2 Waste Management Inc.

      3. 6.3.3 A2A SpA

      4. 6.3.4 Veolia Environnement SA

      5. 6.3.5 Hitachi Zosen Corp

      6. 6.3.6 MVV Energie AG

      7. 6.3.7 Martin GmbH

      8. 6.3.8 Babcock & Wilcox Enterprises Inc.

      9. 6.3.9 China Jinjiang Environment Holding Co. Ltd

      10. 6.3.10 Suez Group

      11. 6.3.11 Xcel Energy Inc.

      12. 6.3.12 Wheelabrator Technologies Holdings Inc.

      13. 6.3.13 Covanta Holding Corp.

      14. 6.3.14 China Everbright Group

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Waste-to-Energy Technologies, such as Dendro Liquid Energy (DLE)

**Subject to Availability

Waste to Energy (WTE) Industry Segmentation

Waste-to-energy plants burn municipal solid waste (MSW), sometimes known as rubbish or trash, to generate steam in a boiler, which is then used to power an electric generator turbine. MSW is a composite of energy-dense items such as paper, plastics, yard trash, and wood products.

The waste-to-energy (WtE) market is segmented by technology and geography. By technology, the market is segmented into physical, thermal, and biological. The report also covers the market size and forecasts for the waste-to-energy (WtE) market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Technology
Physical
Thermal
Biological
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
North America
United States
Canada
Rest of the North America
Asia-Pacific
China
India
Japan
Rest of the Asia-Pacific
Europe
United Kingdom
France
Germany
Italy
Rest of the Europe
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Waste to Energy (WTE) Market Research FAQs

The Waste-to-Energy (WtE) Market size is expected to reach USD 54.40 billion in 2023 and grow at a CAGR of 7.35% to reach USD 77.55 billion by 2028.

In 2023, the Waste-to-Energy (WtE) Market size is expected to reach USD 54.40 billion.

Mitsubishi Heavy Industries Ltd, Waste Management Inc., A2A SpA, Veolia Environnement SA and Hitachi Zosen Corp are the major companies operating in the Waste-to-Energy (WtE) Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Waste-to-Energy (WtE) Market.

Waste-to-Energy Plant Industry Report

Statistics for the 2023 Waste-to-Energy Plant market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Waste-to-Energy Plant analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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