Transparency Market Research’s new market study on the global waste-to-energy technologies market provides valuable insights on the growth of this market for the forecast period from 2016 to 2023. The report is titled “Waste-to-energy Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023.” The report presents a comprehensive analysis of current market trends, growth drivers, and restraints that will influence the development of this market during the forecast period.
It analyzes the development of the global waste-to-energy technologies market across North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa for the aforementioned forecast period.
According to estimates of the World Bank, the amount of waste that is generated will reach 11 million tonnes per day by 2100. This extends massive administrative and logistical challenges for both developing and developed countries. While waste can be used in countless energy production programs, its potential has so far been underutilized. In this light, waste-to-energy initiatives necessitate the application of techniques that can help derive valuable energy from waste products.
At present, the filling of landfills to the brim is mounting pressure on industries to either reduce the amount of waste generated or make it reusable to generate energy. This use of waste-to-energy technologies enables to do this.
In recent years, the dramatic increase in the global population has led to an exponential increase in the amount of waste that is generated. This is the primary factor fuelling the adoption of waste-to-energy technologies for environment conservation reasons and to fulfill the energy needs to some extent. Moreover, waste-to-energy is emerging as a sustainable option to lower greenhouse gas emissions that are happening due to rapid urbanization and increasing purchasing power of consumers.
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In this scenario, key policymakers will either have to increase the capacities of existing landfills or will need to consider investing in waste-to-energy plants. To keep up with the increasing thrust on renewable energy and lowering carbon emissions, the latter seems to be a viable option. This will not only require planning for the development of new waste-to-energy plants, but also deployment of newer technologies for the conversion of waste into energy. Investments in this space also offer attractive returns in terms of production of renewable energy from waste and retrieval of metals from waste.
Asia Pacific stands as a leading region for waste-to-energy technologies and will also spearhead the growth of the global market in the coming years. This is because China has positioned itself as a trendsetter in the global market for waste-to-energy technologies. Europe is expected to trail Asia Pacific in the waste-to-energy technologies market over the report’s forecast period.
Leading players in the waste-to-energy technologies market are Foster Wheeler, China Everbright, and ABB.
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