New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thermal and Biological Waste-to-Energy Markets" - https://www.reportlinker.com/p03523237/?utm_source=GNW
Ongoing market trends, growth drivers and challenges impeding the market are discussed.The report will analyze the global thermal and biological WTE markets by technology and geography.
It will also focus on the regulations and government-supported programs impacting this market. Regionally, the focus of study will be the markets of North America, Europe, Asia-Pacific and the Rest of the World (ROW).
Using 2022 as the base year, the report provides estimated market data for the forecast period from 2023 to 2028.The market size for different regions (regions by technology) will also be covered.
The impact of COVID-19 was also considered when deriving market estimations.Sales value estimates are based on prices in the supply chain.
Market-driving forces and industry structure are examined. International aspects are analyzed for all global regions.
In 2020, the growth rate of global manufacturing industries was severely affected by the COVID-19 pandemic.The pandemic halted progress in every regional economy.
Governments took measures to contain the economic slowdown.
Report Includes:
- 43 data tables and 23 additional tables
- An up-to-date overview and industry analysis of the global markets for thermal and biological waste-to-energy (WTE) processes and technologies
- Analyses of the global market trends, with historic market revenue data (sales figures) for 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the actual market size and revenue forecast for the global waste-to-energy market in USD million terms, and corresponding market share analysis by technology type, application, end-user, and region
- Highlights of emerging technology trends, opportunities and gaps in the market estimating current and future demand for thermal and biological WTE technologies, and identification of major regions and countries involved market developments
- In-depth information (facts and figures) concerning the major factors influencing the progress of the market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, future prospects, and contributions to the overall market
- A comparative study of Porter’s Five Forces analysis and PESTLE analysis considering both micro- and macro- environmental factors prevailing in the global market for thermal and biological waste-to-energy technologies
- Review of the legislative and environmental regulatory issues and concerns currently focused on integrated waste management approaches as a basis for projecting demand in the next few years
- Insight into the recent industry structure, competitive aspects of each product segment, increasing investment on R&D activities to develop low-cost WTE technologies, market development strategies, and company value share analysis
- Review of key patent grants and significant allotments of recent patents across each major category
- Company profiles of major players within the industry, including Andritz AG, Mitsubishi Heavy Industries Ltd., Veolia Environnement SA, Waste Management Inc., and Xcel Energy Inc.
Summary:
The global WTE market totaled $REDACTED in 2022 and $REDACTED billion in 2023.Growing at a CAGR of REDACTED%, the market is expected to reach $REDACTED billion in 2028.
WTE is a vital part of a strong and sustainable waste management chain.Fully complementary to recycling, it is an economically and ecologically sound way to provide a renewable source for energy while diverting waste from landfills.
WTE is one of the most robust and effective alternative energy options to reduce carbon dioxide (CO2) emissions and replace fossil fuels. Approximately two-thirds of household waste is categorized as “biomass.” Therefore, one can recover two-thirds as CO2-neutral energy and reduce dependence on fossil fuels.
Key drivers of the growth of the global waste-to-energy market over the forecast period are the strong shift in trend toward energy security and decreasing landfill space.Other key market trends include extensive presence of government initiatives aimed at promoting WTE as an alternative form of energy and the presence of large untapped opportunities in the emerging markets of the Asia-Pacific region and Latin America.
Other established renewable energy sources, such as solar, wind and hydro, are expected to present a competitive challenge for WTE in terms of technology and economics, and they may act to restrain WTE from penetrating the renewable energy market. The high upfront costs associated with the establishment of WTE plants are also expected to remain a hurdle for market participants during the forecast period.
WTE is gaining status as an important component of integrated waste management strategies in which it plays the role of an alternative strategy to relieve the pressure on landfills.The added benefit of WTE over other waste management strategies is the potential for the extraction of energy.
A major portion of this energy is used by the plant itself for its internal energy requirements; the remainder is supplied to the community.
Thermal technologies have emerged as the leading technologies used for generating energy from waste.Thermal technologies are further segregated into conventional thermal technologies and alternative thermal technologies.
Thermal is the oldest and most-trusted technology used for generating energy from waste, but the high cost associated with its installation and its emission of harmful gases during incineration are expected to hinder the market growth over the forecast period.
Biological treatment is expected to be the fastest-growing technology at an estimated CAGR of REDACTED% from 2023 to 2028.Biological treatments include the treatment of waste with microorganisms to generate energy.
These methods are considered more environmentally friendly than thermal technologies, and they are expected to increase their market penetration over the forecast period.Despite the potential that the sector offers both in terms of waste management and in terms of providing an inexpensive alternate energy source, many of the WTE technologies have been met with public opposition.
Thermal WTE projects have received bad publicity with concerns from environmental groups and local communities regarding several factors, including their impact on the environment and human health.It is claimed that modern WTE combustion plants are safe and odor-free, but public concern remains a barrier and continues to slow the implementation of new projects.
Several emerging technologies, however, are much more efficient and promising, and they face less opposition. With growing waste volumes, the adoption of efficient and environmentally friendly waste management methods is becoming a global priority.
Given the current state of ecological consciousness, dangerous emissions from industrial processes or human activity point to negative effects on the environment.There is considerable incentive for adopting energy-efficient thermal and biological WTE methods, as well as carrying out research on new kinds of technologies and materials, due to new laws and changing markets.
The WTE industry is expanding into new markets, particularly in developing countries, where access to clean energy is a major concern. This presents new opportunities for companies in the industry to develop and market sustainable-based solutions for these markets.
Read the full report: https://www.reportlinker.com/p03523237/?utm_source=GNW
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