Monday, 19 September 2022 11:03 AM
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WILMINGTON, DE / ACCESSWIRE / September 19, 2022 / Transparency Market Research Inc. - An analysis by Transparency Market Research (TMR) estimates the global waste-to-energy market to reach a value of US$ 43.1 Bn by 2031. Furthermore, the study highlights that the market for waste-to-energy is expected to develop at a CAGR of 6.1% during the forecast period, 2022-2031.
Key players in waste-to-energy market are using different strategies such as regional expansions and adoption of technological advancements in order to stay ahead of the competition. Moreover, several players are seen investing heavily in R&D projects. Such factors, in turn, are likely to boost the expansion of the waste-to-energy market during the forecast period.
The waste-to-energy market in Latin America is prognosticated to expand at significant pace during the forecast period. The market growth in Latin America is ascribed to serval factors including a rise in the waste generation in the regional nations, note researchers of a TMR study.
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Waste-to-energy Market: Key Findings
- The government bodies of many developed as well as developing countries around the world are taking initiatives in order to increase the use of renewable energy. Hence, there has been a surge in the investments on projects pertaining to renewable energy. This aside, the government bodies of several countries such as India, China, the U.S., and nations in the EU have introduced many favorable policies including feed-in-tariffs, capital subsidies, and tax credits for waste-to-energy. Such factors are expected to drive the growth in the waste-to-energy market during the forecast period, state analysts at TMR.
- Over the period of past few years, there has been a rise in the generation of waste due to increase in the urbanization and industrialization across many emerging economies across the globe. This factor, in turn, is creating lucrative prospects in the waste-to-energy market, according to analysts of a TMR report.
- Of municipal solid waste and agriculture waste types, the municipal solid waste segment is projected to offer largest revenue share in waste-to-energy market during the forecast period. The growth of the segment is ascribed to a rise in the municipal solid waste generation owing to swift industrialization across many developed and developing nations globally. Furthermore, increase in the use of municipal solid waste in the energy generation is boosting the market growth, notes a waste-to-energy market demand analysis by TMR.
- The TMR analysts note that the electricity application segment held approximately 54.94% of waste-to-energy market share in 2021. The growth of the segment is ascribed to several factors including a surge in the electricity demand owing to increase in the infrastructure development activities across many developed and developing nations globally. Moreover, the analysts at TMR state that the electricity segment of the market is likely to maintain its leading position during the forecast period.
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Waste-to-energy Market: Growth Boosters
- Surge in the initiatives by government authorities of several developed and developing countries for the adoption of renewable energy is driving the market growth
- Increase in the utilization of waste-to-energy owing to increase in understanding on the commercial and environmental benefits is leading to profitable prospects in the waste-to-energy market
Waste-to-energy Market: Key Players
Some of the key players profiled in the report are:
- Veolia
- SUEZ
- Covanta Holding Corporation
- Keppel Corporation Limited
- China Everbright International Limited
- Constructions industrielles de la Méditerranée (CNIM)
- STEAG GmbH
- Babcock & Wilcox Enterprises Inc.
- Gazasia Ltd.
- Future Biogas Limited
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Waste-to-energy Market Segmentation
- Waste Type
- Municipal Solid Waste (MSW)
- Agricultural Waste
- Others
- Technology
- Thermochemical
- Incineration
- Others
- Biochemical
- Anaerobic Digestion
- Others
- Application
- Heat
- Electricity
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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