According to the World Bank, the amount of waste generated across the world will triple by 2100 to reach 11 million tonnes per day. This presents a massive logistical and administrative challenge for both developed and developing countries. Waste has the potential to be used in countless energy-generation programs, but its potential has hitherto remained underutilized. The concept of waste-to-energy entails the application of techniques that help extract valuable energy from waste products.
At a time when landfills are choking with nonbiodegradable waste, there is increasing pressure on industry participants to either reduce the amount of waste generated or reuse trash to generate energy in the form of heat or electricity. Waste-to-energy technologies make that possible.
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The demand for efficient technologies that can help convert waste into energy is rising because of the increase in the volume of waste generated around the world every day. Thermal and biological technologies are commonly used to convert waste into energy.
The key thermal energy types used to obtain energy from waste are: incineration, thermal gasification, and plasma-arc gasification. Likewise, the major biological technologies employed to use waste as an energy generation medium are: fermentation, methane capture, and anaerobic digestion.
This report examines the state of the global waste-to-energy technologies market and forecasts growth through 2023. For a detailed analysis of the global waste-to-energy technologies market, the report segments the market on the basis of criteria such as technology type and geography. Each subsegment is individually studied to forecast its growth rate and size in terms of revenue.
Factors that are fuelling the adoption of waste-to-energy technologies are largely centered on the dramatic increase in population and, consequently, the increase in the amount of waste generated. Other factors that are contributing favorably to the growth of the global waste-to-energy technologies market are rapid urbanization and growing purchasing power of consumers. Against this backdrop, waste-to-energy is emerging as a viable option to lower the carbon footprint.
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A high number of waste-to-energy plants are located in Asia Pacific and Europe. A number of new waste-to-energy plants are planned around the world, which will help increase the amount of energy generated from waste over the next few years.
In the years ahead, key policymakers will either have to increase landfill capacity or consider investing in waste-to-energy plants. In view of the increased thrust on renewable energy and reducing carbon emissions, the latter might emerge as a more viable option. This will necessitate the deployment of highly different technologies to convert waste into energy.
New technologies to convert waste into energy are currently being developed and these will aid the growth of the market further. Investors in this space are primarily encouraged by the following attractive returns: the generation of renewable energy from waste and the recovery of metals from waste.
China has established itself as a trendsetter in the global waste-to-energy market and can be credited for the strong growth forecast for the Asia Pacific (APAC) waste-to-energy technologies market. Thus, the growth of the global waste-to-energy technologies market will be spearheaded by the APAC region. Europe is projected to follow APAC over the report’s forecast period.