Waste to Energy Market to hit $35 billion by 2024

Waste to energy (WtE) market share is poised for robust growth as call to create energy from waste materials has soared in recent years. Waste to energy is prevalently being recognized as a technology which can help combat climate change. Preferably, diverting waste that would be sent to landfill lowers the amount of greenhouse gases and carbon emissions expelled into the atmosphere.

Waste to Energy (WTE) market is valued at USD 20 billion in 2015 and is expected to reach USD 35 billion by the end of 2025, growing at a CAGR of 7% between 2017 to 2024


Waste to energy (WtE) market share is poised for robust growth as call to create energy from waste materials has soared in recent years. Waste to energy is prevalently being recognized as a technology which can help combat climate change. Preferably, diverting waste that would be sent to landfill lowers the amount of greenhouse gases and carbon emissions expelled into the atmosphere.

Adoption of municipal solid waste (MSW) as a fuel to generate renewable energy through biological and thermal techniques is likely to bolster waste to energy market share. Prominently, waste to energy facilities offer a technologically advanced waste disposal which not only curbs greenhouse gases, but also recycles metal and generates clean energy.

Rapidly increasing electricity demand, along with rising dependency on renewable sources is expected to shape waste to energy market trends. Expanding urban demography is expected to be instrumental in augmenting municipal solid waste (MSW), including glass bottles, plastic, tetra pack, aluminum foil, cardboard boxes, and newspaper, among others.

According to UN, 68% of the world's population is expected to live in urban areas by 2050 — up from 55% of global population in 2018. The UN data set claims 90% of the surge will be taking place in Asia and Africa. Governments, as such, have upped their efforts to propel sustainable power generation sources that will be in line with the environmental standards.

APAC waste to energy market share is slated to expand considerably, as countries such as India, Australia, and China intensify efforts to expedite industry growth. Notably, India has been implementing rigorous emission control measures to derail the pervasiveness of lethal gases in environment.
On the other hand, Australia waste to energy market is experiencing unprecedented power demand. For instance, Acciona, in 2018, announced investment of US$ 700 mn for the much-anticipated development of the country's largest waste to energy facility that will apparently harness 36 MW power by processing mammoth 400,000 tons of trash per year.

Europe WtE market forecast appears to be sanguine on the back of escalating concerns to utilize the solid waste and levy of taxes, such as landfill tax and carbon tax. Amid Brexit concern, the U.K. revised its standard for landfill taxes to US$ 102 per ton in 2019—US$ 8 per ton uptick from 2016. Nevertheless, Europe waste to energy market size was pegged at a valuation of over US$ 10 bn in 2015 and is expected to offer viable opportunities during the forecast period 2016-2024. Accordingly, government efforts to curb landfill penetration are said to instrumental in fueling WtE market forecast.

Source: https://www.gminsights.com/industry-analysis/waste-to-energy-wte-market

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