The global waste to energy market will likely increase to a revenue of $57.32 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 6.22% by 2027, according to a recent report by Inkwood Research, a research and consulting firm with offices in the United States and Australia.
With a forecast period of 2019 to 2027, the report outlines contributing market factors such as increased waste and subsequent disposal, heightened energy demand and increasing priority to utilize renewable energy resources. The report comprises analyses of geographic regions, technology, waste type and applications.
The researchers find that the most critical waste to energy market growth factor is the trend of global energy security. Other important market factors include competition from pre-existing renewable energy sources like solar and wind, high initial technology costs, strict environmental guidelines and opposition from local populations.
The report finds that, while Europe is currently the largest and most advanced waste to energy market, North America will likely be the most swiftly evolving regional market. Organizations cited in the report include Waste Management Inc., China Everbright International Limited, Suez Environnment, S.A. and more.
Written by Nicole Foulke