In a recent published report, Kenneth Research has updated the market report for Waste to Energy Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Waste to Energy Market products.
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A report on Waste to Energy Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Waste to Energy Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
Waste to Energy is a process of generating energy through the treatment of waste materials from various sources such as municipal waste, medical waste, agricultural waste and others. Waste to energy process helps in generation of electricity, heat and fuel commodity such as methanol, methane, ethanol and other forms of synthetic fuels.
The growing government participation in the recycling of these commodities are projected to be one of the vital factors leading the market growth. However, the lack of awareness about waste to energy processes is one of the major downside to the growth of the global waste to energy market size. According to insights and reports analysis, the global Waste to Energy Market size is expected to grow at CAGR of over 5.5% during the review period.
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Waste to Energy Market: Thermal conversion technology is expected to exhibit significant growth during the forecast period
The growing need for waste disposable across the globe coupled with the need for preservation of fossil fuels are considered to be some of the major factors positively contributing to the growth of the global waste to energy market during the review period. Moreover, the rising inclination towards renewable sources for generation of electricity along with the presence of stringent regulations in Europe such as the Kyoto Protocol is also projected to generate substantial revenue during the review period.
On the basis of technology, thermal conversion is projected to generate the highest gains during the forecast period. Thermal conversion mainly incineration is widely used across the globe owing to the ease of processability and operation. Moreover, the biochemical conversion technology is expected to exhibit a propelling CAGR during the forecast period. The growing use of biochemical processes in the developing region owing to the significant presence of livestock manure is attributing to the growth of the segment.
On the basis of region, the global Waste to Energy Market Share can be segregated into North America, Europe, Asia pacific, Latin America, Middle East and Africa. According to insights and reports analysis, the Asia Pacific market of Waste to Energy Market Size is projected to exhibit burgeoning growth during the given period.
The rising population in the region has compelled the industry players to shift towards renewable energy to reduce the dependency on crude imports which is projected to substantially add to the growth of the waste to energy market in this region. Moreover, the presence of the largest municipal waste generators such as India and China are further expected to make the Asia pacific market more competitive during the forecast period.
European Market Size is also anticipated to show significant growth during the forecast period. The presence of strict regulation in the region is the major factor attributing to this growth. For instance, according to the European Union (EU) waste regulation plan, the member states are given a target to recycle 65% of their municipal waste and 75% of their construction waste by 2030.
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The proficient players operating in the global Waste to Energy Market share has adopted various organic and inorganic growth strategies to enhance their presence in the global market. For instance, REMONDIS SE & Co. KG in September 2018 announced the start of the construction of a USD 400 million waste to energy incineration plant at Queensland, Australia.
Some of the major players operating in the global Waste to Energy Market are REMONDIS SE & Co. KG, Suez Environment SA, Waste Management, Inc., Covanta Energy Corporation, Constructions industrielles de la M�diterran�e (CNIM), and C&G Environmental Protection Holdings among others
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