Waste to Energy Global Market Report 2024

The global waste to energy market has grown strongly in recent years. It will grow from $35.44 billion in 2023 to $37.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period can be attributed to several factors, including challenges in waste management, concerns related to energy security, regulatory incentives, increased public awareness regarding environmental issues, and ongoing urbanization trends. These factors collectively contributed to the development and adoption of waste-to-energy solutions during the historical period

The global waste to energy market is expected to see strong growth in the next few years. It will grow to $49.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to various factors, including the promotion of circular economy initiatives, the enforcement of stricter environmental regulations, the global commitment to renewable energy sources, the integration of technology with waste sorting processes, and the continued growth of urbanization leading to increased waste generation. Major trends expected in the forecast period include a heightened emphasis on decentralized waste-to-energy systems, increased collaboration with both public and private sectors, advancements in technology to enhance efficiency and sustainability, a shift towards non-incineration technologies, and strategic investments in research and development within the waste-to-energy sector. These trends reflect the evolving strategies and technologies in the waste-to-energy industry to address environmental challenges and promote sustainable energy practices.

The growth of the waste-to-energy market is expected to be driven by the enhancement of efficient waste management practices. Efficient waste management involves the meticulous sorting of waste at its source and ensuring its passage through diverse recycling and resource recovery channels. The most sustainable approach to waste management is the conversion of waste into energy, generating heat that can be harnessed to produce electricity. In November 2020, as reported by the World Economic Forum, Wales set a goal to achieve zero waste by 2050, while the EU considers adopting a new 2030 target, likely set at a minimum of 65%. Notably, Germany leads the world in waste management, followed closely by Austria, South Korea, and Wales, all managing between 52% and 56% of their municipal waste. Switzerland ranks fifth, recycling almost half of its municipal waste. This emphasis on efficient waste management practices is a key driver behind the growth of the waste-to-energy market.

The escalating volume of generated waste is anticipated to significantly contribute to the growth of the waste-to-energy market. The mounting quantity of waste directly bolsters this sector by providing a consistent and growing feedstock for energy production. With increased waste volume, there emerges a larger pool of raw materials for waste-to-energy technologies. This surplus of waste feedstock offers market opportunities as these technologies efficiently convert rising waste levels into valuable energy resources. According to the World Bank's February 2022 report, the global waste generated in 2020 amounted to 2.24 billion tons of solid waste, equating to approximately 0.97 kilograms of waste per person per day. As population growth and urbanization continue, waste generation is projected to surge by 73% to 3.88 billion tons annually by 2050. This substantial increase in waste volume is a driving force behind the growth of the hazardous waste handling automation market.

Technological advancements are emerging as a pivotal trend shaping the waste-to-energy market. Key industry players are committed to innovating new technologies to maintain their market standing. For instance, in September 2022, Waste Fuel Solutions, a US-based developer specializing in bio-refineries that convert municipal solid waste into low-carbon fuels, introduced the WasteFuel Methanol technology. This technology is engineered to produce up to 100 metric tons per day of fuel-grade methanol from various waste sources, including landfill gas and biogas from anaerobic digestion. Its modular design enhances resource utilization and facilitates cost-effective and rapid scalability. The WasteFuel Methanol technology is strategically designed for efficient deployment at waste sites, swiftly scaling production to meet the growing demand for green methanol in the shipping industry.

Prominent entities within the waste-to-energy sector are pioneering the development of cutting-edge technologies, such as hybrid hydrothermal carbonization (HTC) technology, to establish a competitive advantage in the market. The Hybrid HTC reactor represents a breakthrough in waste treatment, efficiently generating high-caloric and environmentally friendly biofuel. This innovation aligns with the global emphasis on green energy initiatives and waste-to-energy solutions. In May 2021, Kinava Co., Ltd., a South Korea-based provider of renewable energy solutions, unveiled a green-waste-to-biofuel venture, introducing the Hybrid Hydrothermal Carbonization (HTC) technology. This pioneering step aimed to address the mounting volume of food and household waste. Kinava's HTC technology addresses global environmental challenges and South Korea's Green New Deal Policies by significantly reducing investment and operational costs linked to converting organic waste into solid biofuel. This cost-effective and eco-friendly solution reflects the company's commitment to sustainable waste-to-energy practices.

In February 2021, First Sentier Investors, an Australia-based asset management firm, completed the acquisition of Wheelabrator Technologies, marking a strategic move within the waste treatment landscape. The undisclosed acquisition is poised to provide essential waste treatment services to customers and communities while fostering the development of critical waste-to-energy infrastructure, supporting the transition towards sustainable practices. Wheelabrator Technologies, a US-based company specializing in the eco-friendly conversion of municipal solid waste and other renewable waste fuels into clean energy, represents a pivotal asset in this acquisition. This strategic move positions First Sentier Investors to contribute significantly to green recovery initiatives while fortifying its presence in the waste-to-energy sector.

Major companies operating in the waste to energy market report are PayPal Holdings Inc., Fiserv Inc., Global Payments Inc., Mastercard Incorporated, Square Inc., Visa Inc., Paysafe Ltd., FIS Inc., ACI Worldwide Inc., Wirecard CEE, Jack Henry and Associates Inc., Stripe Inc., PayU LLC, CCBill LLC, Authorize.Net, Nelnet Business Solutions Inc., Rapyd Financial Network Ltd., Dwolla Inc., U.S. Bank National Association Inc., GoCardless Ltd., Melio Inc., Amazon Payments Inc., Podium Corporation, BlueSnap Inc., JPMorgan Chase & Co., Stax Inc., Payline Data LLC, Dharma Merchant Services LLC, Helcim Inc., Shopify Inc., Payoneer Inc., Gusto Holdings Inc., Freedom Financial Network LLC, Adyen N.V., Worldpay LLC, CyberSource Corporation, PaySimple Inc., PayJunction Inc., Paycor Inc., Paycom Software Inc., Heartland Payment Systems LLC, BluePay Processing LLC, Global Payments Inc., Vantiv LLC, Braintree LLC

Europe was the largest region in the waste to energy market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waste to energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the waste to energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The types of waste typically involved in the waste-to-energy market include municipal solid waste, agricultural waste, and other waste categories. Municipal solid waste encompasses waste collected by the municipality or disposed of at the municipal waste disposal site. This category includes residential, industrial, institutional, commercial, municipal, construction, and demolition waste. Various technologies are employed in the waste-to-energy process, including thermal and biochemical methods, among others. These technologies are utilized for the generation of heat and electricity applications.

This report provides waste-to-energy market statistics, including waste-to-energy industry global market size, regional shares, competitors with waste-to-energy market share, detailed waste-to-energy market segments, market trends, and opportunities, and any further data you may need to thrive in the waste to the energy industry. This waste-to-energy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The waste-to-energy market includes revenues earned by entities by the combustion of wastes, which heats water, generates steam, or makes electricity via a steam-powered turbine. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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