Waste to energy can be defined as a method of energy reclamation, and the very process of creating energy in the form of electricity from the primary handling of waste. Most of the WtE courses and procedures tend to yield heat right through thermal candescence or produce ignitable fuel products such as ethanol, methane, methanol etc. So, instead of humping waste to landfills, it would certainly be a wise step to make use of the organic scraps & dregs to power automobiles while helping the environment simultaneously. This way, the toxic emissions from landfills can be avoided, which in turn would lead to a steep decline in need for extra landfills across the country.
Waste to energy is one of the most effective and robust alternative sources of energy, which helps in the reduction of CO2 emissions and thus replace fossil fuels. Using waste as a combustion substance is expected to reduce landfill volumes by more than 90%. For every ton of waste burned, one ton of CO2 emission is reduced, which further helps in eliminating methane, which could be leaked with landfill disposal.
Growth in population and rise in landfill levels present numerous opportunities for market expansion. With the current scenario of poor waste management facilities, it has become important to utilize this waste in some form as it could affect the environment around and can lead to less sustainable life forms making the world a black place for living organisms. Governments are focusing on commercializing alternate sources of energy such as Waste to Energy (WTE) technology owing to the rapid depletion of conventional energy sources. In addition, the implementation of environmental policies regarding the reduction of carbon emissions from fossil-fuel usage is expected to further provide a boost to industry growth.
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Several problems are encountered during construction and development of waste to energy generation plants; one of the major problems is cost. Installing and maintenance of infrastructure to generate energy by burning waste serve as a major challenge, which restrains the growth of the marker. Although the fuel cost is low, maintenance activities represent a big part of the total cost, as it is a new technology.
Growing electricity usage on account surging global population have raise the penetration of various power generation systems including WTE. The market is expected to register the highest growth in biological process, owing to increase in technological advancements and rise in disposable incomes. Furthermore, rapid urbanization and upsurge in renewable energy sources are expected to boost the market growth.
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The key players have adopted various market penetration and growth strategies, such as mergers & acquisitions, to strengthen their foothold in the market. The key players operating in waste to energy industry include Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises, Inc., and Veolia Environment.
Impact Of Covid-19 On Global Waste To Energy Market
Continuing the delivery of basic waste management service like waste collection and management has become a major challenge for cities having maximum fallout from COVID-19. Every year around 2 billion metric tons of municipal solid waste are generated. It is estimated that by 2050 annual waste generation will increase by 70-75% to reach 3.4 billion metric tons. As now the world is unlocking halted operations implemented during pandemic, it is expected government will partner with the private sector through public-private partnerships to discover sustainable solutions.