Waste to energy (WtE) is a process of generating energy in electrical or heat form using primary treatment of waste. Incineration is the most common and popular method used for waste to energy generation. Residential, industrial, and commercial sources are most common waste stream used for energy recovery. However, bio-waste from agriculture, construction waste, hazardous waste, etc. are also considered feasible for energy recovery, depending on their specific composition, and energy content. Selection of WtE technology is dependent on the nature, and volume of the waste stream. Energy content or calorific value of the waste determines how much energy can be extracted from it.
Increasing adoption of renewable energy resources globally is a key factor driving growth of the global waste to energy market. In addition, government policies on waste deposable & treatment techniques, low price of fossil fuel, and development in thermal technologies such as incineration, gasification, and pyrolysis that lowers the carbon emissions are other factors expected to boost growth of the global waste to energy market over the forecast period.
However, high cost associated with waste to energy generation is a key factor restraining growth of the global waste to energy market. Additionally, lack of awareness regarding waste to energy benefits, and emission of flue gases in thermal waste to energy technology that causes health issues are other factors expected to hamper growth of the global waste to energy market over the forecast period.
Rising demand of low cost technologies for treating local waste is also expected to generate potential opportunity for key players in the global waste to energy market over the forecast period.
The global waste to energy market is segmented on the basis of technology, and region. On the basis of region, the global waste to energy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Europe market is expected to be the dominant player in the global waste to energy market followed by market in North America owing to increasing industrial waste coupled with strict government regulations to minimize industrial waste in countries in the region. The market in Asia Pacific is expected to witness fastest growth rate over the forecast period, owing to increasing demand for renewable energy sources in emerging economies in the region.
Prominent players in the global waste to energy market include Veolia Environnement S.A., China Everbright International Limited, Covanta Holding Corporation, C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée, Waste Management, Inc, Attero B.V., Grandblue Environment Co., Ltd., Viridor Limited, and Tianjin Teda Co., Ltd.