The global waste to energy market size was valued at US$ 56.31 billion in 2021 and it is expected to hit around US$ 85.18 billion by 2030 with a registered CAGR of 4.71% from 2022 to 2030.
Growth Factors
The growing implementation of favorable government policies and regulations to encourage proper disposal of wastes along with energy generation from wastes is expected to boost the growth of the waste to energy market. The surging demand for energy across various end use verticals is expected to drive the growth of the waste to energy market significantly. With the rising global population, the generation of wastes has increased significantly. According to the United Nations, the global population is expected to surpass 9 billion by 2050 and over 11 billion by 2100. Therefore, the wastes accumulation is expected to rise exponentially in the upcoming future. The rising carbon emission and air pollution are negatively impacting the environment. Moreover, the accumulation of various types of wastes is also becoming a major concern for the government as it hampers the environmental health. The rising government initiatives to commercialize alternate energy sources due to the depleting conventional sources of energy are driving the growth of the waste to energy market across the globe.
Furthermore, the implementation of various government policies regarding environment protection and controlling carbon emissions and reducing the usage of fossil fuels is providing impetus to the global waste to energy market. The rapid industrialization and rapid urbanization are fostering the demand for the efficient energy supply. The industrial and domestics wastes are rising at a rapid rate. This is forcing the government to promote the generation of energy using wastes. This is boosting the deployment of Waste to Energy (WTE) plants across various locations. As per the U.S. Environmental Protection Agency, one ton of solid waste processed into energy generation can reduce one ton of greenhouse gases. Therefore, the growing need for reducing greenhouse gases is propelling the demand for the waste to energy market across the globe.
The waste to energy plants helps in significantly reducing the harmful emissions due to various factors like recovery of metals for recycling, avoidance of methane landfills, and offset of carbon emission from fossil fuel power generation. The rise in technological advancements to recover energy to enhance the out efficiency of the waste to energy plants is bolstering the growth of the global waste to energy market.
Report Scope of the Waste to Energy Market
| Report Coverage | Details |
| Market Size by 2030 | USD 85.18 Billion |
| Growth Rate from 2022 to 2030 |
CAGR of 4.71% |
| Thermal Segment Market Share in 2021 | 80% |
| Biological Segment Market Share in 2021 | 20% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Technology, Form, Application, Geography |
| Companies Mentioned | Hitachi Zosen, Wheelabrator, Keppel Seghers, Covanta, Tenologies, Foster Wheeler, Mitsubishi Heavy Industries, Xcel Energy, Veolia Environment, China Everbright International, Plasco Energy, Green Conversion Systems |
Technology Insights
Based on the technology, the thermal segment dominated the global market, accounting for around 80% of the market share in 2021. The incineration thermal technology was the major revenue contributor in 2021. The ease of operations and simple process of energy generation has led to the significant growth of this segment. The thermal treatment of wastes to generate electricity is considered to be the most eco-friendly technique and is highly adopted in the urban cities. The incineration thermal technology offers various benefits such as limited greenhouse gas emissions, reduction of wastes in terms of volume, and energy preservation that has fostered the demand for the thermal technology. This technology can reduce wastes by 10% of its volume.
On the other hand, the biological is expected to be the most opportunistic segment during the forecast period. This growth can be attributed to the rising technological advancements in the anaerobic decomposition technology. The rising government investments in the research and development of anaerobic decomposition technology to enhance the economic viability are driving the growth of this segment. The rising demand for the clean vehicle fuels like biogas and rising environmental concerns are expected to boost its demand during the forecast period.
Region Insights
Europe led the global waste to energy market, garnering a market share of around 41% in 2021. The growth is majorly attributed to the presence of several top market players such as Veolia, EQT AB, Suez, and Ramboli Group A/S. The strict government regulations pertaining to the carbon emissions, environment protection, and waste disposal has played a prominent role in the growth of the Europe waste to energy market. Moreover, the implementation of strict carbon tax, landfill taxes, and direct subsidies and incentives to the waste to energy plants have bolstered the growth of the waste to energy market in Europe.
North America held the second largest position in the global waste to energy market in 2021. The rapidly surging awareness regarding the climate change and environment protection has supported market growth in North America. The growing government initiatives to integrate and enhance the utilization of clean energy generation sources are anticipated to drive the growth of the market. As per the data of Energy Information Administration, about 29.5 million tons of municipal solid waste was utilized in around 68 U.S. waste to energy plants that generated approximately 14 billion kWh of electricity, in 2018. Further, the higher demand for the eco-friendly and advanced technologies in North America has contributed exponentially towards the growth of the market in the past few years.
Asia Pacific is expected to be the most opportunistic market during the forecast period. The rapid industrialization and rapid urbanization has resulted in the generation of huge volume of domestic and industrial wastes. Moreover, the increasing number of households and industrial units in the region is boosting the demand for energy across Asia Pacific region. The rising air pollution level due to greenhouse gases and carbon emission has forced the government to adopt environment protection measures and to dispose the large volume of wastes, the government is focusing on the deployment of waste to energy plants. The government spending for the municipal solid waste management program along with the surging popularity of the waste to energy plants in several economies such as India, Thailand, Singapore, and Indonesia is expected to boost the growth of the waste to energy market in the Asia Pacific region. Therefore, the government is expected to focus more on the deployment of the advanced waste to energy plants with the rising industrialization and urbanization of the rural areas in the developing economies of Asia Pacific region.
Key Market Developments
The various market players operating in the global waste to energy market are constantly involved in various developmental strategies to gain market share and exploit the prevailing market opportunities.
Some of the prominent players in the global waste to energy market include:
Segments Covered in the Report
(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)
By Technology
By Form
By Application
By Geography
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