London, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Up from the valuation of US$25.7 Bn attained in 2020, global waste-to-energy market will worth the revenue of around US$36.2 Bn toward the end of 2025. In a new report published by Fairfield Market Research, the global market for waste-to-energy is poised for strong growth of 7.1% during the forecast period, 2021 – 2025. With escalating global energy demand, and contrastingly depleting reserves of conventional energy resources, the world has been experiencing greater need for the conversion of waste into energy. As this is increasingly being considered as a viable futuristic route of energy generation, the waste-to-energy market will remain on an upswing in long term. The rise of renewables sector, and exhausting landfills will further complement the market growth, opines the report.
However, the perceived challenges associated with the environmental hazards of the incineration process are likely to hold a long-term influence on the performance of waste-to-energy market. This although seems an impediment also unlocks doors for new R&D activities that would deliver more advanced, and sustainably safer WtE production processes.
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Key Research Insights
By 2025 end, the worldwide daily waste generation volume will possibly reach 6 MT
Waste-to-energy market exhibit the CAGR of around 7.1% between 2021 and 2025
WtE application for electricity generation poised to be the maximum
Insights into Segmental Analysis
The environmentally safer thermal technology remains preferred for waste-to-energy production. The technique is perceived as the simplest for deployment, which makes it ideal for adoption. Demand for thermal technology is likely to climb up as assures complete combustion of waste-derived gases, allows recycling of bottom ash and metals, making it a sustainable process, especially across urban set-ups. Moreover, the other significant advantages such as limited greenhouse gas emissions, and reduced waste volume will further push uptake of thermal technology in waste-to-energy market. However, although the process offers a desirable cost benefit, the substantially high initial capital investment continues to restrict the rate of adoption against the existing, economically viable alternatives on the market like natural gas.
Key Report Highlights
Role of governments will remain crucial in the build-up of waste-to-energy market
North America is rapidly emerging as a lucrative market on the back of a growing number of waste-to-energy plant installations
Growing stringency of the regulatory guidelines for municipal solid waste (MSW) management favour WtE market growth
Insights into Regional Analysis
Europe continues to spearhead global market for WtE in terms of the installed base. In addition, dominant presence of some of the key players, including EQT AB, Veolia, Suez, and Ramboll Group A/S is expected to benefit the European waste-to-energy market. The role of governments has been instrumental in the market build-up across the key European markets. Regulations regarding landfill taxes, and carbon taxes, and announcements regarding direct subsidies for WtE plants are expected to collectively account for the most lucrative positioning of Europe in global waste-to-energy market. North America also is projected as among the key markets, whereas Asia Pacific will reportedly develop an attractive waste-to-energy market through 2025.
Global Waste-to-Energy Market – Key Players
Covanta Energy Corporation, Veolia, Suez Environment, China Everbright International Limited, EDF, AVR, EQT AB, Wheelabrator, Hitachi Zosen Inova AG, Babcock & Wilcox Vφlund A/S, Viridor, Ramboll Group, and GCL Poly
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2021 – 2025
Market Size in 2020
Estimated Market Size in 2025
Covanta Energy Corporation, Veolia, Suez Environment, China Everbright International Limited, EDF, AVR, EQT AB, Wheelabrator, Hitachi Zosen Inova AG, Babcock & Wilcox Vφlund A/S, Viridor, Ramboll Group, GCL-Poly
Combined Heat & Power (CHP)
Middle East & Africa
Covanta Energy Corporation
China Everbright Environment Group Limited
Wheelabrator Technologies Inc.
Hitachi Zosen Inova AG
Babcock & Wilcox Enterprises, Inc.
Market Estimates and Forecast
Key Trends Analysis
COVID-19 Impact Analysis
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