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DUBLIN--(BUSINESS WIRE)--Sep 12, 2022--
The "Biomass and Waste-to-Energy - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Biomass and Waste-to-Energy Market to Reach $38 Billion by 2026
The global market for Biomass and Waste-to-Energy estimated at US$30.5 Billion in the year 2022, is projected to reach a revised size of US$38 Billion by 2026, growing at a CAGR of 5.2% over the analysis period.
Biomass is the leading renewable energy source, and the most important fuel in use apart from oil, coal and natural gas. Growth in the market is being propelled by the increased uptake of waste-to-energy technologies along with policy changes and population growth.
Rapid growth of Asian markets and maturation of waste management regulations and climate mitigation strategies in Europe are expected to boost the global market. The waste material discarded on a global scale possesses the potential to address about 10% of worldwide electricity demand each year.
Additionally, waste-to-energy market, incorporating digestion and thermal methods of generating power, lessens the hazard associated with pollutants released from landfills such as parasites, volatile organic compound, carbon dioxide, and methane gas.
Thermal, one of the segments analyzed in the report, is projected to grow at a 5% CAGR to reach US$32 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biological segment is readjusted to a revised 6.1% CAGR for the next 7-year period.
This segment currently accounts for a 11.4% share of the global Biomass and Waste-to-Energy market. The densely populated metropolitan areas face enormous challenges in dealing with the waste being produced on a daily basis, which has in turn brought into focus the industrial waste incineration.
With areas available for use as landfills for municipal waste becoming difficult to find, the focus is shifting towards thermal waste recovery. Several new plants are built in metropolitan areas across the world, owing to the growing shortage of land required for landfill sites.
The U.S. Market is Estimated at $5.4 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026
The Biomass and Waste-to-Energy market in the U.S. is estimated at US$5.4 Billion in the year 2022. The country currently accounts for a 17.98% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 6.7% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$6.4 Billion by the end of the analysis period.
The emerging economies are increasingly opting for waste-to-energy technology owing to its ability to offer a solution for the increasing volume of municipal solid waste and need for a constant supply of renewable energy.
What's New for 2022?
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS Select Competitors (Total 58 Featured):
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/kyefun
View source version on businesswire.com:https://www.businesswire.com/news/home/20220912005490/en/
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KEYWORD:
INDUSTRY KEYWORD: OTHER ENERGY ENERGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/12/2022 05:19 AM/DISC: 09/12/2022 05:19 AM
http://www.businesswire.com/news/home/20220912005490/en