Waste to Energy Market Size

Waste to Energy Market Size

Waste to Energy Market size exceeded USD 44.3 billion in 2023 and is projected to expand at over 6.3% CAGR from 2024 to 2032. The waste to energy technology utilizes various waste treatment methods including incineration, pyrolysis & gasification, anaerobic digestion, and others to convert the waste into useful by-products, which are then used to generate power through turbines or other equipment. In addition, this technology is gaining wide recognition across the globe owing to the substantial growth in waste production along with the rising demand for clean energy.

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Stringent governmental policies pertaining to soaring GHG emissions will compel green technology manufacturers to devise innovations to develop cleaner energy, which in turn, will drive the market growth. Governments across the globe are investing in renewable energy sources to reduce reliance on fossil fuels, which will also complement the technology demand. Moreover, favorable incentives and schemes have been introduced across all regions to promote effective waste collection and processing, generating a significant growth potential for waste to energy industry.

Over the last few years, countries across the globe witnessed the COVID-19 outbreak, which compelled respective governments to impose lockdown protocols to curb the outspread of the virus owing to which various commercial & industrial businesses were shut down, which led to waste generation statistics witnessing a decline. However, the residential sector observed a rise in waste generation, thereby creating a growth potential for the market. Moreover, ongoing vaccination drives across the globe have reinitiated various commercial & industrial offices, thereby enhancing the need for waste management technologies.