Global waste to energy market expected to grow above a CAGR of 7.2% and is anticipated to reach over USD 29187.5 Million by 2026.
NEW YORK, UNITED STATES, July 1, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Waste To Energy Market By Technology (Thermal and Biological): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global waste to energy market in 2019 was approximately USD 17940.4 Million. The market is expected to grow above a CAGR of 7.2% and is anticipated to reach over USD 29187.5 Million by 2026.
Energy production technologies dedicated to renewable platforms are contributing at significant level as a replacement for conventional resources. The waste to energy production technologies involved production of energy from waste material. This energy is considered as pure as well as renewable. The waste to energy production technologies are intended to serve the municipal corporation in reducing the waste as well as the emission from the waste. The energy is recovered in form of electricity or steam. There are primarily two classification of waste to energy production technologies namely thermal and biological. The thermal energy production technologies involve pyrolysis, gasification and incineration.
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Waste occupies significant land mass of usable land. In addition, it also emits toxic elements in the air as well as water bodies, thereby severely affecting environment elements. Many solutions are been used for the reduction of environmental impact of the waste. One of the important solutions is production of energy from waste. The production technologies have been evolving with continuous research and development in the field.
With rising concern for waste management, the utilization of waste for production of energy is gaining increased traction among the municipalities. This inclination towards waste utilization is majorly owing to the rising waste been generated worldwide. The rising waste also posses potential hazard to the nearby environment bodies which is additionally catalyzing the demand from the municipalities across the globe.
Moreover, governments of different countries are supporting and funding environment sustaining solutions. With major investment in smart city projects, the waste recycling and energy production is expected to play vital role in achieving the eco friendly and sustainable objectives.
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The thermal technology for waste to energy production is expected to continue its dominance over the period under study. The market dominance is mainly owing to the increasing development and advancements in the gasification and incineration technologies. The thermal technology based WTE is also expected to exhibit highest growth in foreseeable future.
Regionally, Europe is expected to lead the global waste to energy market with Germany, France and Switzerland contributing highest in region. The Asia Pacific region is expected to exhibit highest growth during the forecast period. The demand from major economies in the region such as China, Japan and India is expected to be primary growth factor for the Asia Pacific region.
Major players operating in the global waste to energy market covered in this report include Waste Management Inc., Mitsubishi Heavy Industries Ltd, Suez Environment S.A., Construction Industrielles de la Mediterranee (CNIM), C&G Environmental Protection Holdings, A2A SpA, Babcock & Wilcox Enterprises Inv., Hitachi Zosen Corp, China Everbright International Limited, Veolia Environnement SA, and China Jinjiang Environment Holding Company Limited.
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This report segments the global waste to energy market as follow:-
Global Waste to energy Market: By Technology Segmentation Analysis
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