The Canada Waste to Energy Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 3.34% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rise in demand for renewable sources of energy.
Waste-to-energy is the course of energy generation by the essential management of waste. This interaction produces power or heat straight by combustion. Likewise, it produces combustible fuel supplies such as methane, ethanol, and methanol . The waste-to-energy idea has replaced the trash in trash out training by working with proficient trash management while at the same time providing clean energy and inferring dollars out of waste.
Waste to energy plants decreases a lot of unsafe outflows attributable to a few elements including the restoration of metals for reprocessing, offset of carbon dioxide from petroleum product power generation, and aversion of methane from landfills. Additionally, restricted space and rising landfilling costs are relied upon to additional increase in the loss to energy innovation development as a dependable waste management solution.
The outbreak of COVID19 pandemic impacted many industries involving construction, automotive, and processing, directly negatively impacting the waste generation from industries. Rapid growth in waste generation due to rising dispose of waste from municipal and hospitals is on the major factors stabilizing the market growth in coming years.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for incineration process and rise in public waste to energy expenditure are major factors anticipated to drive the market growth.
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Rising adoption of renewable source of energy among industrial and transport sector is expected to propel the growth of the market during the forecast period.
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Growing initiatives to reduce methane emission from landfills is estimated to spur the growth of the market.
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High installation cost of incineration can hamper the growth of the market.
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The increase in preference toward zero waste generation and waste recycling can hinder the growth of the market.
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Technological advancements in the waste to the energy sector is estimated to create lucrative opportunities during the forecast period.
Scope of the Report
The report on the Canada waste to energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Canada Waste to Energy Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technology (Thermal Technology, Physical Technology, and Biological Technology)
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Country
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Canada
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Covanta Holding Corp.; Martin GmbH; Wheelabrator Technologies Inc.; Suez SA; and Waste Management, Inc.
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Canada Waste to Energy Market Segment Insights
Thermal technology segment is expected to grow at a rapid pace
On the basis of technology, the market is segregated into thermal technology, physical technology, and biological technology. The thermal technology segment is expected to constitute a key share of the market during the projected period due to the growing improvements in the technologies of gasification and incineration. The capacity of thermal technology to effectively reduce the greenhouse gases emission and electricity generation is fueling the segment growth. The incinerators can treat a wide range of wastes, which has increased the preference for this process. The plant incineration reduce the quantity of the waste in landfills, which avoid generation of methane gas from landfills, and successfully restore the metal.
The thermal process includes the reusing of energy from municipal solid waste at high temperatures. The thermal technology incorporates a few cycles such as combustion or incineration, gasification, and pyrolysis. The significant contrast among these advancements is the measure of oxygen and temperature association during the cycle that prompts the change to eventual outcome CO2 and water, or to transitional valuable products. The increase in population along with the rise in amount of waste formation in the region is one of the factors that is increasing adoption of thermal technology.
The complete generation of municipal solid waste was 107.2 million tons in 2017. Out of the total municipal solid waste created, around 47 million tons were reused, and 16 million tons was treated to the soil.
Segments
The Canada waste to energy segmented on the basis of:
Technology
- Thermal Technology
- Physical Technology
- Biological Technology
Country
Key Players
- Covanta Holding Corp.
- Martin GmbH
- Wheelabrator Technologies Inc.
- Suez SA
- Waste Management, Inc.
Competitive Landscape
The key players competing in the Canada waste to energy market are Covanta Holding Corp.; Martin GmbH; Wheelabrator Technologies Inc.; Suez SA; and Waste Management, Inc.
Companies are engaging in partnerships with government bodies to expand their market share.
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