The market is expected to generate an incremental $ opportunity of US$ 36,920.8 Mn between 2022 and 2032
Category: Clean Energy & Power Published Date : October 2022 ID: CVC-00330 Format: PDF Pages: 270
Global Waste-to-Energy Technologies System Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Waste-to-Energy Technologies System Market was worth US$ 32,414.6 Mn and is expected to grow at a CAGR of 7.9% over the forecast period. While the historical CAGR is 6.3%, the market is expected to hit US$ 69,335.4 Mn by 2032 end.
Garbage to energy is a process that turns waste into energy, reducing reliance on fossil fuels like coal for energy production. Garbage to power is a sustainable way to keep debris out of landfills and limit the release of methane gas. It also prevents waste from entering landfills and reduces carbon dioxide emissions. These facilities employ a boiler to burn trash or create steam, which is then used to produce energy. The waste-to-energy process reduces air pollution by eliminating pollutants from gas combustion and preventing them from entering the chimney.
PRODUCTION OF HEAT AND POWER FROM WASTE TO DRIVE THE MARKET GROWTH
An effective and environmentally friendly way to treat garbage is through waste to energy, which creates heat that can provide electricity. These waste-to-energy facilities may cut waste by 95% to 96% while also keeping it out of landfills. These facilities offer several advantages and eliminate hazardous waste, including medical waste.
The use of waste-to-energy technology has several benefits, including the generation of heat and power, effective metal recycling, efficient waste management, a reduction in waste, the prevention of the production of methane gas and harmful greenhouse gases, better control over noise and odor during the decomposition process, minimal pollution, and the non-contamination of groundwater. It is predicted that all of these advantages will increase demand for waste-to-energy markets during the projected period.
HIGH INSTALLATION COST OF WASTE TO ENERGY PLANTS TO RESTRAIN MARKET GROWTH
The construction of the necessary infrastructure, operational costs, waste management, segregation costs, and other charges make the setup of waste-to-energy facilities, notably the incineration plant, expensive. Additionally, since incinerator facilities need regular maintenance, which is anticipated to slow the market’s growth during the projected period, qualified professionals and devoted staff are necessary to manage them.
Market Segments Covered in Report
By Region and Country:
Why does the thermal segment likely to remain highly sought-after?
The thermal segment held the highest revenue share, with thermal incineration technology playing a significant role in revenue development. The growth factor for thermal conversion techniques is their relatively easy operation and simple process. Because thermal treatment of garbage allows for the complete combustion of gases emitted from the waste, it provides a sustainable alternative for contemporary cities.
Thermal incinerators provide several advantages over conventional incinerators, including reducing trash volume and greenhouse gas emissions while retaining energy. Incineration reduces waste to 10% of its original volume and offers a practical substitute for conventional power by producing renewable energy for uses like district heating. In addition, reusing bottom ash and metal increases this method’s wealthiest advantages.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Players in the industry are concentrating on R&D initiatives to lower the technical cost connected with waste-to-energy power plants. Only a small number of businesses use vertical integration to improve their services. To enhance their capacity for garbage solutions, corporations are expanding their facilities.
A list of some of the key suppliers present in the market are:
Global Waste-to-Energy Technologies System Market 2022-2032: Report Coverage and Highlights
|Historical data available for
|USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030
|Key regions covered
|North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
|Key countries covered
|US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
|Key segments covered
|By Technology and Region
|Available upon Request
|Pricing and purchase options
|Available upon Request