The global waste-to-energy market is highly fragmented. A large number of local and international players offer waste-to-energy services. Key players operating in the global market are Veolia, SUEZ, Covanta Holding Corporation, Keppel Corporation Limited, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Babcock & Wilcox Enterprises, Inc., STEAG GmbH, Future Biogas Limited, and Gazasia Ltd.
Waste-to-energy Market – Snapshot
Waste-to-energy is one of the most effective alternative energy options to reduce CO2 emissions and replace fossil fuels. It is not just a trash disposal method, but a way to recover valuable resources. Waste-to-energy is a vital part of a sustainable waste management chain and it is completely complementary to recycling.
The global waste-to-energy market was valued at around US$ 19 Bn in 2017 and is anticipated to expand at a CAGR of more than 6% from 2018 to 2026, according to a new report titled ‘Waste-to-energy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). Waste-to-energy (WtE) is a process that converts non-recyclable waste into usable forms of energy such as heat, fuels, and electricity. WtE can be achieved through several processes such as incineration, gasification, pyrolysis, anaerobic digestion, and landfill gas recovery.
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Abundance of Waste
Waste management is becoming a major issue across the globe. Every year, billion tons of waste is generated from agriculture, municipal, and industrial sectors. Member countries of the Organization for Economic Co-operation and Development (OECD) accounted for approximately 50% of the global waste in 2016. Around 17 million tons of waste is produced every year in the U.S. and approximately 90 million tons of manures and slurries are generated every year in the U.K. According to the World Bank, the global waste generation is projected to nearly double, in terms of volume, by 2025 to reach 6 million tons per day. Several countries are opting for alternative sources of energy due to restricted landfilling, growing environment-related issues, and high volatility in fuel prices. Waste-to-energy (WtE) is a process of generating energy by treating waste. WtE not only resolves environment-related issues related to waste by reducing the volume but also decreases the greenhouse gas (GHG) emissions. Thus, high availability of waste is likely to boost the market during the forecast period.
