Portland, OR, Oct. 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. & Canada waste to energy market generated $1.81 billion in 2018, and is estimated to reach $2.89 billion by 2026, registering a CAGR of 6.0% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for renewable energy sources and rise in electricity consumption drives the growth of the U.S. & Canada waste to energy market. However, high cost associated with waste to energy conversion restrains the market growth. Furthermore, increase in government initiative regarding waste utilization is expected to provide new growth opportunities for the market player in near future.
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- Lockdown amid Covid-19 pandemic has impacted the operations in construction, automotive, and processing industries across the U.S. and Canada. This has affected the waste generation from these industries, which in turn, is expected to decline the market growth.
- Amid lockdown across the U.S. & Canada , there is rise in waste generation in municipal area and also generation of waste from hospital is on the verge of increasing.
The report offers a detailed segmentation of the U.S. & Canada waste to energy market based on technology and country.
Based on technology, the thermal segment contributed to the largest share in 2018, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the biochenical segment is estimated to portray the highest CAGR of 6.7% during the forecast period.
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Based on country, U.S. contributed the highest share, accounting for 98% of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Canada is expected to grow at the highest CAGR of 6.3% from 2019 to 2026.
Leading market players analyzed in the research include Babcock & Wilcox Enterprises, Inc., John Wood Group PLC, Waste Management, Inc., Covanta Holding Corporation, Plasco Energy Group, Inc., Mitsubishi Heavy Industries, Wheelabrator Technologies Inc., Xcel Energy, Inc., Ener-Core, Inc., and BlueFire Renewables.
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