In New York, Straits Research reported that the global waste-to-energy market is expected to reach an estimated value of $68.78 billion by 2031, up from 37.1 billion in 2022. The market is expected to expand at a CAGR of 7.10% during the forecast period (2023-2031).
“Europe is the largest shareholder in the global waste-to-energy market and is expected to grow at a CAGR of 4.6% during the forecast period. Due to the depletion of fossil resources like coal and petroleum, there is an increased push in Europe to minimize greenhouse emissions, achieve low carbon footprints, and provide a consistent electrical supply,” the study said. “A stable regulatory environment, better access to funding for the waste-to-energy sector, cost-effective grid investment and connection, continuous support for innovation and training, and enhanced cost-saving synergies are all projected to contribute to the growth of the European market.”
The report also noted that Asia-Pacific is expected to grow at a CAGR of 4.8% during the forecast period. “Due to the strong demand for renewable energy, the Asia-Pacific waste-to-energy business is still in its infancy. China, South Korea, and India are some major economies in this sector that are growing steadily. The Asia-Pacific waste-to-energy market’s thermal category accounted for the most significant volume due to the expanding use of thermal technology for energy production,” said Straits Research.
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