Waste-to-energy is one of the most effective and robust alternative source of energy, which helps in the reduction of CO2 emissions and thus replace the use of fossil fuels. Using waste as a combustion substance is expected to reduce landfill volumes by more than 90%. For every ton of waste burned, one ton of CO2 emission is reduced, which further helps in eliminating methane, which could be leaked with landfill disposal. This factor is anticipated to increase the demand for U.S. & Canada waste-to-energy market. The U.S. & Canada waste-to-energy market size accounted for revenue of $1,811.0 million in 2018 and is anticipated to generate $2,894.0 million by 2026. The U.S. & Canada waste-to-energy market is projected to experience growth at a CAGR of 6.0% from 2019 to 2026.
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The U.S. and Canada waste-to-energy market is growing due to
surge in demand for renewable sources of energy in these regions, as well as
increase in investment by governments to enhance energy production. Further,
regulation implemented to reduce carbon content are further anticipated to
boost the overall growth of the market. However, high costs associated with
plant installation and infrastructure of expensive components are expected to
hamper the overall market growth.
On the basis of type of technology, thermal type of
waste-to-energy market is accounted for the highest U.S. & Canada
waste-to-energy market share in the year 2018 and is projected to maintain the
same during the forecast period. This is owing to increase in demand for
thermal gasification in energy generation from waste materials due to rise in
demand for clean energy across the countries.
Furthermore, U.S. & Canada waste-to-energy market trends
such as rapid urbanization and upsurge in the production of various renewable
energy sources including biomass and other are expected to boost the growth of
the market. The incineration segment was valued at $859.4 million in 2018 and
is projected to reach $1,380.6 million by 2026, growing at a CAGR of 6.1% from
2019 to 2026. The incineration segment accounted for around half of the thermal
technology segment in 2018, owing to the perennial modifications in the market and
efficient techniques & process, which are in high demand across the globe.
Thus, increase in requirement of high-tech waste-to-energy conversion methods
fuels the in U.S. and Canada waste-to-energy market growth.
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On the basis of the country, The U.S. waste-to-energy market
accounted for highest market share in terms of revenue, was valued at $1,787.4
million in 2018 and is projected to reach $2,855.4 million by 2026, growing at
a CAGR of 6.0% from 2019 to 2026. This is owing to the rise in energy prices,
coupled with increase in consumer focus to use the generated energy
efficiently. The Canada waste-to-energy market is growing at the highest CAGR
of 6.3% during the projected timeframe.
John Wood Group PLC, Babcock & Wilcox Enterprises, Inc.,
Covanta Holding Corporation, Waste Management, Inc., Mitsubishi Heavy
Industries, Plasco Energy Group, Inc., Xcel Energy, Inc., Wheelabrator
Technologies Inc., BlueFire Renewables, and Ener-Core, Inc. are the key player
profiles included in the U.S. & Canada waste-to-energy market report.
Other players operating in the value chain include Global
Clean Energy, Inc., Natural Energy Systems, Inc., Greenlight Energy Solutions,
International Composting Corporation, and WaterSmart Environmental, Inc.
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Key Findings Of The Study:
- By type of technology, the biochemical segment is
anticipated to grow at highest CAGR of 6.6% during the forecast period, and is
anticipated to maintain the same pace.
- By country, the U.S. was the largest revenue contributor of the
waste-to-energy market in 2018
- Canada's waste-to-energy market is growing at the highest CAGR of 6.3% during
2019-2026 owing to rise in energy demand and reduction in dependence on fossil
fuels.
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Allied Analytics LLP
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