(MENAFN- EIN Presswire) Waste-to-Energy Technologies Market
The market is expected to reach $50.18 billion by 2027, growing at a CAGR of 5.8% from 2020 to 2027.
NEW YORK CITY, NEW YORK, UNITED STATES, April 5, 2023 /einpresswire.com / -- Market Overview:
The waste to energy technologies market is growing rapidly due to the increasing demand for sustainable waste management practices and the need for alternative sources of energy. The market is expected to reach $50.18 billion by 2027, growing at a CAGR of 5.8% from 2020 to 2027. Thermal technology is the most widely used technology for waste-to-energy conversion, accounting for over 80% of the market share. The Asia-Pacific region is expected to be the fastest-growing market due to the increasing population, urbanization, and industrialization.
Waste-to-Energy Technologies Market Scope:
By type, the market is segmented into Thermal Technologies and Biochemical Reactions. By application, the market is divided into Power Plant and Heating Plant. Based on geography, market is analyzed across North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Major players profiled in the report include Covanta, Suez, Wheelabrator, Veolia, China Everbright, A2A, EEW Efw, CA Tokyo 23, Attero, TIRU, MVV Energie, NEAS, Viridor, AEB Amsterdam, AVR, Tianjin Teda, City of Kobe, Shenzhen Energy, Grandblue and Osaka City Hall.
Top Key Trends:
Adoption of advanced technologies for waste to energy conversion, such as gasification and pyrolysis.
Integration of waste to energy facilities with other renewable energy sources such as solar and wind.
Increase in public-private partnerships for the development of waste to energy projects.
Growing focus on circular economy and zero-waste initiatives.
Top Impacting Factors:
Increase in waste generation due to population growth and urbanization.
Rising energy demand and the need for alternative sources of energy.
Government initiatives promoting sustainable waste management practices.
Growing awareness of environmental sustainability and waste reduction.
Key Benefits for Stakeholders:
Reduction in greenhouse gas emissions.
Decrease in landfill waste and associated environmental impacts.
Production of renewable energy and reduction in dependence on fossil fuels.
Creation of new job opportunities in the waste management and energy sectors.
Market Dynamics
Drivers:
Increasing waste generation due to population growth and urbanization.
Rising energy demand and the need for alternative sources of energy.
Government initiatives promoting sustainable waste management practices.
Growing awareness of environmental sustainability and waste reduction.
Restraints:
High capital costs associated with waste to energy facilities.
Concerns over environmental impacts and emissions associated with waste to energy facilities.
Limited availability of waste streams suitable for energy conversion.
Opportunities:
Adoption of advanced technologies for waste to energy conversion.
Integration of waste to energy facilities with other renewable energy sources.
Expansion of waste to energy projects in developing countries.
Challenges:
Lack of public acceptance and community opposition to waste to energy facilities.
Difficulties in sourcing and managing waste streams for energy conversion.
Regulatory barriers and challenges in obtaining permits for waste to energy facilities.
FAQs:
1. What is waste to energy technology?
Waste to energy technology involves the conversion of waste materials into energy, typically through the use of thermal or biological processes.
2. What are the advantages of waste to energy technology?
Waste to energy technology reduces greenhouse gas emissions, decreases landfill waste, and produces renewable energy while reducing dependence on fossil fuels.
3. What are the challenges associated with waste to energy technology?
Challenges include high capital costs, concerns over environmental impacts and emissions, limited availability of suitable waste streams, lack of public acceptance, and regulatory barriers.
Recent Developments:
In 2021, the UK government announced funding for the development of new waste to energy projects using advanced thermal technologies.
The adoption of gasification and pyrolysis technologies for waste to energy conversion is increasing, with companies such as Fortum and Covanta investing in these technologies.
The integration of waste to energy facilities with other renewable energy sources, such as solar and wind, is becoming more common.
Companies such as Veolia and Suez are investing in circular economy initiatives, focusing on reducing waste and increasing resource efficiency.
Key Market Segments:
Type
Thermal Technologies
Biochemical Reactions
Application
Power Plant
Heating Plant
Key Market Players included in the report:
Covanta
Suez
Wheelabrator
Veolia
China Everbright
A2A
EEW Efw
CA Tokyo 23
Attero
TIRU
MVV Energie
NEAS
Viridor
AEB Amsterdam
AVR
Tianjin Teda
City of Kobe
Shenzhen Energy
Grandblue
Osaka City Hall
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