Saudi Arabia Waste to Energy (WtE) Market Size Expands at Electrifying CAGR of 6.03% to Touch USD 372 Million by 2030

Published | 29 June 2024

Saudi Arabia Waste to Energy (WtE) Market is flourishing because of the growing population, rapid urbanization and industrialization, and rising consumption levels increase in municipal solid waste (MSW) driving the need for alternative waste management strategies.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Waste to Energy (WtE) Market size at USD 286.38 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Saudi Arabia Waste to Energy (WtE) Market size to expand at a CAGR of 6.03% reaching a value of USD 371.83 million by 2030. Strict government laws and policies that support appropriate waste management and disposal in the Kingdom and satisfy the rising energy needs of the major end user sectors are significant growth drivers for Saudi Arabian Waste to Energy (WtE) Market. Additionally, the market is expanding due to rising municipal solid waste levels caused by population increase.

Opportunity - Increasing private-public investments

The stringent government policies for efficient waste management in Saudi Arabia is significantly attracting investments from both public and private industry players. For instance, Sadara, a Saudi Arabia-based company, and Veolia, a France-based company, signed a memorandum of understanding (MoU) in 2018 to build a sustainable utility plant in the industrial city of Jubail. The goal of the plant is to produce industrial steam, cooled water, and compressed air from the incineration of industrial waste. SIRC has stated that it will invest in waste to energy (WtE) plants to contribute to the country's target of generating 3GW of WtE capacity by 2030. One of the primary goals of the agreement is to make WtE more economical.

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Saudi Arabia Waste to Energy (WtE) Market

Segmental Coverage

Saudi Arabia Waste to Energy (WtE) Market – By Application

Based on application, Saudi Arabia Waste to Energy (WtE) Market is segmented into electricity and heat. The electricity segment dominates the Saudi Arabia Waste to Energy (WtE) Market by application. The rising focus on sustainability and reducing CO2 emissions and the rising demand for clean energy directly influence the growth of the segment. Furthermore, increasing demand for electricity from major end users in the region due to rapid economic growth is also driving the waste to electricity (WtE) which is driving the market. However, the heat segment also covers a major market owing to its high demand from the residential and industrial sectors.

Competitive Landscape

Major players operating in Saudi Arabia Waste to Energy (WtE) Market include Sembcorp Industries, Abu Dhabi National Energy Company PJSC (TAQA), Veolia Environnement S.A., Hitachi Zosen Corporation, Babcock & Wilcox, Masdar, Abengoa, BEE'AH BEE'AH Group, Suez Environnement Company, and Ramboll. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and opportunities in Saudi Arabia Waste to Energy (WtE) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Waste to Energy (WtE) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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