PORTLAND, OR, UNITED STATES, October 9, 2020 /EINPresswire.com/ — Waste-to-energy is one of the most effective and robust alternative sources of energy, which helps in the reduction of CO2 emissions and thus replaces the use of fossil fuels. Using waste as a combustion substance is expected to reduce landfill volumes by more than 90%.
According to a new report published by Allied Market Research titled, “U.S. & Canada Waste-to-Energy Market by Type of Technology: Opportunity Analysis and Industry Forecast, 2019–2026,” 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 a growth at a CAGR of 6.0% from 2019 to 2026.
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On the basis of the type of technology, the 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 an increase in demand for thermal gasification in energy generation from waste materials due to the rise in demand for clean energy across the countries.
The U.S. and Canada waste-to-energy market is growing due to a surge in demand for renewable sources of energy in these regions, as well as an increase in investment by governments to enhance energy production. Further, regulations implemented to reduce carbon content are further anticipated to boost the overall growth of the market.
On the basis of the country, The U.S. waste-to-energy market accounted for the 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.
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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.
Key Findings Of The Study:
• By type of technology, the biochemical segment is anticipated to grow at the 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 waste-to-energy market is growing at the highest CAGR of 6.3% during 2019-2026 owing to a rise in energy demand and a reduction in dependence on fossil fuels
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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Source: EIN Presswire