Global Waste to energy market size was valued at USD 41.40 Billion in 2023 to USD 73.83 Billion by 2031, at a CAGR of 7.5% during the forecast period (2024-2031). The waste to energy market is expected to increase significantly throughout the forecast period because of favorable regulatory policies that promote appropriate waste disposal in conjunction with energy generation and the end-use sector’s increasing energy demands. Governments are concentrating on commercializing alternative energy sources, such Waste to Energy (WTE) technologies, as traditional energy supplies are running out quickly.
The global waste to energy market is expanding rapidly owing to environmental issues, increasing waste generation and the search for renewable energy. Growth of funding on energy recovery installations in order to reduce the emission of greenhouse gases and usage of landfills, policies promoting green behaviour, and progress in thermal and biological technology are among the major trends.
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Everbright Environment’s Bold Leap into Waste to Energy Solutions
In September 2023, Veolia and Suez announced plans to collaborate in seeking expansion of waste-to-energy capacity across Europe. The partnership is aimed at promoting generation of sustainable energy and decreasing reliance on landfills and seeks to make Europe the foremost region in the production of clean energy over the next four to five years through heavy investments in cutting edge waste-to-energy facilities.
In October 2023, China’s Everbright Environment revealed plans to scale its waste-to-energy operations across Southeast Asia, targeting countries like Vietnam and Thailand. This expansion reflects rising demand in emerging markets for renewable energy and waste management solutions, setting the stage for strong market growth in these regions over the coming years.
EU’s Vision for a Carbon-Neutral Future Through Waste-to-Energy Expansion by 2030
In November 2023, The European Union made a declaration regarding its Green Deal action plan which focuses, among other aspects of the action plan, on increasing waste to energy conversion across the member states. The aggressive proposal purports to cut down on carbon emissions by 55% by the year 2030, creating climate investment in new technologies and making Europe the best continent in the provision of sustainable energy solutions.
In December 2023, headquartered in the USA, Reworld Waste LLC has announced its intent to spend one billion dollars on waste-to-energy plants in North America within the next ten years. Its goals are to improve energy recovery and minimize landfill use, therefore representing a shift towards better waste management practices that may affect markets and sustainability ambitions for several decades.
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Synergistic Impact of Global Players in the Waste to Energy Sector
In January 2024, the UK-based company, Biffa, announced a partnership with Mitsubishi Heavy Industries to develop advanced waste to energy plants, aiming for operational efficiency and reduced emissions. In February 2024, Australia’s Cleanaway revealed plans to invest AUD 500 million in waste to energy technologies, targeting significant waste reduction.
Further, in March 2024 Ramky Enviro from India, announced its foray into the waste to energy sector orienting its strategy towards transforming of agricultural waste into energy. These together are expected to improve capacity for waste to energy on a global scale considerably helping reduce landfilling and increase output of sustainable energy soon.
Waste to Energy Market Segmental Analysis:
Technology
Physical Technology, Thermal Technology (Incineration/Combustion, Pyrolysis and Thermal Gasification, Plasma-arc Gasification)
Biological Technology (Methane Capture/Landfill Gas, Biogas Plants/Anaerobic Digestion, Fermentation)
Waste Type
Municipal Solid Waste (MSW)
Industrial Waste
Agricultural Waste
Others
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Top Player’s Company Profiles in Waste to energy Industry:
Babcock Wilcox Volund A/S (Denmark)
BTA International GMBH (France)
Constructions Industrielles de la Mediterranee (CNIM) (France)
Covanta Energy Corporation (US)
ENER-G PLC (US)
Flexenergy LLC (US)
Remondis SE & Co. KG (Germany)
Waste Management, Inc. (US)
TOMRA Systems ASA (Norway)
Hitachi Zosen Corporation (Japan)
Hitachi Zosen Inova (Switzerland)
Keppel Seghers (Singapore)
E.ON SE (Germany)
A2A S.p.A. (Italy)
RWE AG (Germany)
AEB Amsterdam (Netherlands)
Fortum Corporation (Finland)
Ebara Corporation (Japan)
HZI (Hitachi Zosen Inova) (Switzerland)
KBR, Inc. (US)
Nippon Steel Engineering Co., Ltd. (Japan)
Babcock & Wilcox Enterprises, Inc. (US)
Global Collaborations and Technological Innovations are Propelling the Market Towards Unprecedented Growth and Sustainability
The global waste to energy market is experiencing healthy growth largely due to regulatory and technological support, but also due to an increasing need for sustainable energy use. The increased energy supply policies and concerns for the environment are catalysts for the commercial use of the technologies for generation of energy from waste. Major players in the industry are making heavy capital investments, while developing markets are deepening their investments. In the coming years, this synergy of regulatory initiatives and corporate efforts will enhance global energy recovery, reduce landfill dependency, and promote a greener future. The advancements in both thermal and biological technologies will be central to this market’s long-term sustainability.
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