Industry Overview
The Global Waste-to-Energy Market was valued at USD 34.50 billion in 2023 and is expected to reach USD 48.60 billion by 2030 with a CAGR of 4.63% during the forecast period.
Waste-to-energy (WTE) refers to a sustainable approach to convert non-recyclable waste materials into usable forms of energy. In this process waste materials are incinerated. The heat released in the process is captured and used to generate electricity or heat to use in the industrial sectors.
The benefit of WTE process is that it reduces waste in the landfills and help mitigate greenhouse gas emissions by offsetting the need for fossil fuels. However, stringent environmental protection is necessary in this process to manage residue and emissions effectively.
In short, WTE plays a significant role in waste management and production of renewable energy thereby creating a circular economy.
The global waste-to-energy market is divided into thermal and biological segments based on the technologies used where thermal technology segment rules over the other and municipal solid waste, agriculture waste, industrial waste, and other segments based on waste type where municipal solid waste segment is more prevalent due to an abundance of waste.
The market is also divided by its application into heat and electricity segments where the latter has a larger share due to higher demand.
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Market Segmentation
Insight by Technology
The global waste-to-energy market is divided into thermal and biological segments based on the technologies used. Out of these two segments, the thermal technology segment dominated the market due to higher efficiency in converting waste into energy. Collaborative approach and partnerships with industry majors are also propelling its growth due to its enduring influence.
Insight by Waste Type
The global waste-to-energy market is also divided into municipal solid waste, agriculture waste, industrial waste, and other segments based on its type. Out of these two segments the abundance and consistent generation of waste from businesses and households makes the municipal solid waste segment more dominant.
Insight by Application
The global waste-to-energy market is divided in to electricity and heat based on application. Out of these two segments, the electricity segment holds the largest market share due to the growing demand for electricity across the globe coupled with the increasing emphasis on renewable energy sources and lower dependence on fossil fuels. Additionally, government incentives and favorable policies also promotes the growth of this market segment.
Global Waste-to-Energy Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 34.5 Billion
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Revenue Forecast in 2030
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U.S.D. 48.6 Billion
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Growth Rate
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4.63%
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Segments Covered in the Report
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By Technology, By Waste Type, and By Application
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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Industry Dynamics
Industry Trends
There have been rapid and continuous technological developments in the energy sector to enhance the performance and efficiency of waste management and energy generation.
There is a growing utilization of circular economy concept which involves waste minimization and resource maximization has resulted in the increased trend of recycling and material recovery initiatives.
Growth Drivers
The growing need for more effective and sustainable waste management and energy production is the primary growth driver of the global waste-to-energy market. This is basically the result of the expanding urbanization that pushes the renewable energy goals.
Several partnerships and joint ventures with major players in the industry are also a significant factor that enhances the potential and momentum of this market, which facilitates further growth.
The growing need for actionable technologies to reduce greenhouse gas emissions, which is a growing concern, is also driving the growth of the global waste-to-energy market.
The fast population growth and urbanization are resulting in an increased amount of waste and lowering landfill space. Coupled with environmental concerns and failing traditional waste management process this calls for better and sustainable technology, thereby facilitating the growth of the waste-to-energy market.
Adoption of this technology by environmental agencies and governments due to stringent targets, waste management practices and regulation compliance has also increased the demand for this technology as a viable solution for generating renewable energy and managing waste.
Challenges
The wrong perception among people regarding waste-to-energy plants and facilities hinders the market growth due to their opposition. People believe that these facilities create more air and noise pollution and also raise their concern about visual impact. Therefore, public resistance is a significant hurdle. Some other factors that oppose growth are high initial investments, complex regulatory frameworks, and concerns over ash disposal.
Opportunities
Growth in the initiatives to educate people and communities through transparent communications promotes acceptance of such technologies for emission control and support for such facilities. This creates more growth opportunities. More effective community engagement strategies are also designed to overcome public resistance and promote growth opportunities.
Geographic Overview
Asia-Pacific dominates the waste-to-energy market due to growing population, rapid urbanization, and higher waste generation. There are numerous projects coming up in this region which forecasts a significant growth during the analysis period. The higher commitment towards sustainable waste management puts this region at the forefront of the global waste-to-energy industry.
In North America, the waste-to-energy market is also growing fast due to the advanced infrastructure, high waste generation, stringent regulations, and a strong emphasis on sustainability.
Competitive Insight
Covanta is a prominent player in the global waste-to-energy market, renowned for its extensive network of over 40 Energy-from-Waste (EfW) facilities in North America. Their plants efficiently convert millions of tons of non-recyclable waste into clean electricity and heat annually. Covanta also leads in environmental sustainability with initiatives like the Covanta Environmental Solutions, focusing on hazardous and non-hazardous waste management. Moreover, Covanta has partnered with the Green Investment Group (GIG) to develop new EfW projects, exemplifying its commitment to expanding sustainable waste management solutions. With a strong presence and ongoing investments, Covanta maintains a pivotal position in the global waste-to-energy market.
Hitachi Zosen Inova is a leading force in the global waste-to-energy market, known for its cutting-edge solutions in waste treatment and energy recovery. The company has established a strong presence worldwide, with numerous waste-to-energy projects in Asia, Europe, and North America. Noteworthy partnerships include collaborations with Beijing Environment Equipment Group in China and Zhejiang Energy in Shaoxing. These ventures have resulted in state-of-the-art waste-to-energy facilities, showcasing Hitachi Zosen Inova's expertise. Additionally, the company continues to invest in research and development, ensuring it remains at the forefront of technological advancements in sustainable waste management and energy production.
Recent Development by Key Players
Yokogawa Electric Corporation completed installation of the FuzEvent combustion control solution at a waste-to-energy (WtE) plant operated by Krakowski Holding Komunalny SA in Krakow, Poland. FuzEvent was developed by Dublix Technology ApS and it increases the waste incineration volume by 2.5% (equivalent to 5,500 tons annually if the plant is operated at full capacity)
Mitsubishi Heavy Industries Environmental & Chemical Engineering received an order from the Fukushima Municipal Government to rebuild the city's Abukuma Clean Center Incineration Plant (Superannuated Waste-to-Energy Plant). The contract includes two stoker-type incinerators with waste processing capacity of 120 tpd, contributing to Fukushima's quest to become a "zero carbon city".
Key Players Covered in the Report
Covanta, China Everbright International, Veolia, Hitachi Zosen Inova, Babcock & Wilcox, Wheelabrator Technologies, Keppel Seghers, Suez, Mitsubishi Heavy Industries Environmental & Chemical Engineering, Martin GmbH, Sumitomo Heavy Industries, Constructions Industrielles de la Méditerranée (CNIM), Novo Energy, Xcel Energy, Viridor, Waste Management, Green Conversion Systems, Abu Dhabi National Energy Company (TAQA), Guangzhou Energy, and C&G Environmental Protection Holdings.
The Waste-to-energy market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
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Municipal solid waste
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Agriculture waste
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Industrial waste
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Others
Region Covered in the Report
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Germany
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U.K.
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France
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Italy
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Spain
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Russia
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Rest of Europe
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China
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Japan
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Vietnam
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India
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South Korea
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Rest of Asia-Pacific
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UAE
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Saudi Arabia
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South Africa
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Rest of MEA
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Argentina
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Brazil
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Chile
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Rest of LATAM
Primary Research Interviews Breakdown
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