Waste to Energy (WTE) Market Outlook
According to a new report by Expert Market Research titled, “Waste to Energy (WTE) Market Growth, Share, Analysis, Report and Forecast 2023-2028″, the waste to energy (WTE) market is projected to grow at a CAGR of 10.7% between 2023 and 2028. Aided by the rising global focus on sustainable waste management and increasing applications of WTE technologies in various sectors, the market is expected to grow significantly by 2028.
Waste to Energy (WTE) refers to the process of converting waste materials into usable energy, which can take the form of electricity, heat, or biofuels. It serves a vital function in reducing the volume of waste destined for landfills, decreasing greenhouse gas emissions, and offering a sustainable source of energy, thus increasing the waste to energy (WTE) market demand. Alongside its environmental benefits, WTE also exhibits valuable attributes in terms of energy recovery and resource efficiency, establishing it as an important player in various industrial applications, including power generation, heating, and transportation fuel production.
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The escalating global focus on sustainable waste management is a significant driver of the waste to energy (WTE) market growth. With a rising understanding of the detrimental effects of conventional waste disposal methods and the mounting pressure on limited landfill spaces, there has been a considerable shift towards implementing WTE solutions. In addition, the growing global energy demand combined with the pursuit of renewable energy sources has bolstered the popularity of WTE.
WTE’s expanding range of applications across various sectors is another key element in propelling its waste to energy (WTE) market development. In the power generation sector, WTE technologies are deployed to generate electricity from municipal solid waste, providing a reliable and sustainable energy source. In the heating sector, WTE provides heat generated from waste combustion for district heating systems, contributing to energy efficiency. Moreover, WTE’s capacity for producing biofuels offers a renewable alternative to traditional fossil fuels in the transportation sector.
Moreover, the accelerating trend towards adopting circular economy models in the industrial sector has resulted in increased attention on WTE as a crucial part of resource optimisation. With the intensifying regulatory mandates and societal demand for sustainable practices, WTE has surfaced as a critical strategy for achieving resource efficiency, waste reduction, and energy recovery. As such, it boosts the waste to energy (WTE) market expansion.
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Waste to Energy (WTE) Market Segmentation
The market can be divided based on process, source, technology, application, and region.
Market Breakup by Process
- Incineration
- Gasification
- Biological
- Pyrolysis
- Others
Market Breakup by Source
- MSW (Municipal Solid Waste)
- Agriculture Waste
- Medical Waste
- Others
Market Breakup by Technology
- Fluidised Bed
- Rotary Kiln
- Others
Market Breakup by Application
- Heating
- Power Generation
- Combined Heat & Power
- Transport
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global waste to energy (WTE) companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Veolia S.A.
- Suez S.A.
- Hitachi Zosen Inova AG
- Keppel Seghers
- Martin GmbH
- China Everbright Environment Group Ltd
- Jansen Combustion and Boiler
- Grandblue Environment Co Ltd
- Attero
- Covanta Holding Corporation
- Others
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