Vietnam Waste to Energy (WtE) Market Growth, Size, Trends, Share, Revenue and Future Outlook
Vietnam Waste to Energy (WtE) Market Size- By Technology, By Waste Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Sep-2024 | Report ID: POAE2481 | Pages: 1 - 108 | Formats*: |
| Category : Power & Energy | |||
Vietnam Waste to Energy (WtE) Market Introduction and Overview
According to SPER Market Research, the Vietnam Waste to Energy (WtE) Market is estimated to reach USD 95.89 million by 2033 with a CAGR 5.17%.
The report includes an in-depth analysis of the Vietnam Waste to Energy (WtE) Market, including market size and trends, product mix, distribution channels, and supplier analysis. Industrial and household trash can be converted into useful energy, such as steam, fuel cells, and electricity, using waste to energy (WtE) technology. Waste to energy is effectively converted by utilizing a variety of waste-to-energy (WtE) technologies, each with unique procedures. A wide range of industries use the generated energy for various purposes. Through programs that promote the advancement of these technologies, governments everywhere are progressively endorsing WtE projects.
- The Thang Long-Bac Ninh WtE facility in Bac Ninh province was officially opened in March 2024, with Finnish parliament speaker Jussi Halla-aho present. The facility, supplied by Valmet of Finland, is valued about VND 1.4 trillion (roughly USD 56.5 million). It uses cutting-edge circular technology to process 500 tons of waste per day and generate 11 MW of electricity.
- A waste-to-energy (WtE) plant in Phu Lang village, Bac Ninh province, was opened in November 2023. The plant treats industrial and household garbage to generate electricity. The Republic of Korea's Chosun Refractories ENG Co., Ltd. and Vietnam's Green Star Environmental Company Limited. together invested in this innovative facility, which can treat 800 tons of garbage each day.
Market Opportunities and Challenges
Opportunities: The market is mostly driven by the increasing rate of urbanization, which has resulted in a significant rise in garbage generation. The amount of waste produced annually increased by 78.2% between 2004 and 2015, overloading landfills and posing risks to public health and the environment. With the ability to produce renewable energy and reduce waste volume by up to 90%, waste energy (WtE) technologies present a promising alternative. The Vietnamese government has demonstrated a strong commitment to WtE programs as a result of its focus on addressing the country's growing energy consumption, which is expected to increase significantly by 2030. This includes investments and regulations meant to improve the nation's ability to generate energy as well as waste management procedures. Furthermore, Vietnam is expected to face a significant surge in energy consumption by 2030, mostly due to the country's continuous urbanization and economic growth. A diverse and sustainable strategy to energy generation is required in light of this spike in demand. In line with the nation's objectives for renewable energy and energy security, WtE technologies provide a workable option. WtE projects can significantly help Vietnam meet its renewable energy targets by utilizing the ability to recover about 1,400 MW of energy from solid waste yearly.
Challenges:A lack of technological expertise is impeding the expansion of the Vietnam Waste to Energy (WtE) market. Local businesses frequently lack operational expertise and cutting-edge waste-to-energy (WtE) technology, which are essential for effectively converting garbage into energy. This knowledge gap restricts the uptake and dissemination of WtE solutions, impeding market growth and lessening the likelihood that the nation's waste management and energy issues can be successfully addressed. Furthermore, Geopolitical conflicts can interrupt international trade and investment flows that are essential for providing financial and technological support, which can have a varied effect on the Vietnam Waste to Energy (WtE) Market. These disagreements may result in higher import duties for cutting-edge WtE technologies and raise concerns among international investors who are leery of unstable markets.
Market Competitive Landscape
The Vietnam Waste to Energy (WtE) Market is dominated by companies such as Vietnam Waste Solutions (VWS), Tam Sinh Nghia Investment and Development JSC, Hitachi Zosen Corporation, Watrec Ltd, Becamex IDC Corp., Hau Giang Biomass Power Joint Stock Company, Vietstar Joint Stock Company, T&J Green Energy, Thuan Thanh Environment Joint Stock Company (TT), and C&G Environmental Protection Holdings Ltd. Several organizations use a range of tactics to increase their market share, such as licensing agreements, partnerships, joint ventures, mergers and acquisitions, and the introduction of new products.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Technology, By Waste Type, By Application |
| Regions covered | Eastern region, Western region, Southern region, Northern region |
| Companies Covered | Vietnam Waste Solutions (VWS), Tam Sinh Nghia Investment and Development JSC, Hitachi Zosen Corporation, Watrec Ltd, Becamex IDC Corp., Hau Giang Biomass Power Joint Stock Company, Vietstar Joint Stock Company, T&J Green Energy, Thuan Thanh Environment Joint Stock Company (TT), and C&G Environmental Protection Holdings Ltd. |
COVID-19 Impact on Vietnam Waste to Energy (WtE) Market
The COVID-19 epidemic has had a major effect on Vietnam's waste-to-energy (WtE) business by changing waste management practices, upsetting supply chains, and delaying project implementation. At first, trash creation decreased as a result of lockdowns and social distancing measures, which changed consumer and industry behavior. But when the economy picked back up, garbage quantities increased, which highlighted how urgently sustainable waste management solutions were needed. The pandemic also made clear how susceptible the WtE sector is to outside shocks, which led to a review of investment and project financing plans.
Key Target Audience:
- Government Authorities
- Waste Management Companies
- Energy Providers
- Investors
- Academic and Research Institutions
Our in-depth analysis of the Vietnam Waste to Energy (WtE) Market includes the following segments:
| By Technology: |
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| By Waste Type: |
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| By Application: |
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Key Topics Covered in the Report:
- Vietnam Waste to Energy (WtE) Market Size (FY’2024-FY’2033)
- Overview of Vietnam Waste to Energy (WtE) Market
- Segmentation of Vietnam Waste to Energy (WtE) Market By Technology (Thermochemical, Biochemical, Others)
- Segmentation of Vietnam Waste to Energy (WtE) Market By Waste Type (Municipal Solid Waste, Process Waste, Agriculture Waste, Others)
- Segmentation of Vietnam Waste to Energy (WtE) Market By Application (Electricity, Heat)
- Expansion Analysis of Vietnam Waste to Energy (WtE) Market
- Problems and Obstacles in Vietnam Waste to Energy (WtE) Market
- Competitive Landscape in the Vietnam Waste to Energy (WtE) Market
- Impact of COVID-19 and Demonetization on Vietnam Waste to Energy (WtE) Market
- Details on Current Investment in Vietnam Waste to Energy (WtE) Market
- Competitive Analysis of Vietnam Waste to Energy (WtE) Market
- Prominent Players in the Vietnam Waste to Energy (WtE) Market
- SWOT Analysis of Vietnam Waste to Energy (WtE) Market
- Vietnam Waste to Energy (WtE) Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Vietnam Waste to Energy (WtE) Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Vietnam Waste to Energy (WtE) Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Waste to Energy (WtE) Market
7. Vietnam Waste to Energy (WtE) Market, By Technology (USD Million) 2020-2033
7.1. Vietnam Waste to Energy (WtE) Market Size, Share and Forecast, By Technology, 2020-20267.2. Vietnam Waste to Energy (WtE) Market Size, Share and Forecast, By Technology, 2027-20337.3. Thermochemical7.3.1. Incineration7.3.2. Pyrolysis7.3.3. Gasification7.4. Biochemical7.5. Others
8. Vietnam Waste to Energy (WtE) Market, By Waste Type (USD Million) 2020-2033
8.1. Vietnam Waste to Energy (WtE) Market Size, Share and Forecast, By Waste Type, 2020-20268.2. Vietnam Waste to Energy (WtE) Market Size, Share and Forecast, By Waste Type, 2027-20338.3. Municipal Solid Waste8.4. Process Waste8.5. Agriculture Waste8.6. Others
9. Vietnam Waste to Energy (WtE) Market, By Application (USD Million) 2020-2033
9.1. Vietnam Waste to Energy (WtE) Market Size, Share and Forecast, By Application, 2020-20269.2. Vietnam Waste to Energy (WtE) Market Size, Share and Forecast, By Application, 2027-20339.3. Electricity9.4. Heat
10. Vietnam Waste to Energy (WtE) Market Forecast, 2020-2033 (USD Million)
10.1. Vietnam Waste to Energy (WtE) Market Size and Market Share
11. Vietnam Waste to Energy (WtE) Market, By Region, 2020-2033 (USD Million)
11.1. Vietnam Waste to Energy (WtE) Market Size and Market Share By Region (2020-2026)11.2. Vietnam Waste to Energy (WtE) Market Size and Market Share By Region (2027-2033)11.3. Eastern Region11.4. Western Region11.5. Northern Region11.6. Southern Region
12. Company Profile
12.1. Becamex IDC Corp.12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. C&G Environmental Protection Holdings Ltd12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. Hau Giang Biomass Power Joint Stock Company12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Hitachi Zosen Corporation12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. T&J Green Energy12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. Tam Sinh Nghia Investment and Development JSC12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. Thuan Thanh Environment Joint Stock Company (TT)12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Vietnam Waste Solutions (VWS)12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Vietstar Joint Stock Company12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. Watrec Ltd12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Others
13. Conclusion
14. Reference Links
15. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Vietnam Waste To Energy (Wte) Market is projected to reach 95.89 million by 2033, growing at a CAGR of 5.17% during the forecast period.
Vietnam Waste To Energy (Wte) Market grew in Market size from 2024. The Market is expected to reach 95.89 million by 2033, at a CAGR of 5.17% during the forecast period.
Vietnam Waste To Energy (Wte) Market CAGR of 5.17% during the forecast period.
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Vietnam Waste To Energy (Wte) Market size is 95.89 million from 2024 to 2033.
Vietnam Waste To Energy (Wte) Market is covered By Technology, By Waste Type, By Application
The Asia Pacific is anticipated to have the highest Market share in the Vietnam Waste To Energy (Wte) Market.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
The key players in the Market include Companies Covered Vietnam Waste Solutions (VWS), Tam Sinh Nghia Investment and Development JSC, Hitachi Zosen Corporation, Watrec Ltd, Becamex IDC Corp., Hau Giang Biomass Power Joint Stock Company, Vietstar Joint Stock Company, T&J Green Energy, Thuan Thanh Environment Joint Stock Company (TT), and C&G Environmental Protection Holdings Ltd.
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