Global Waste to Energy Technology Market Driven by Rising Awareness about Harmful Effects of Urban Waste
Waste to energy technologies are a set of technologies developed to enable mass-scale conversion of urban human waste into usable energy forms such as electricity. These technologies have emerged strongly in recent years thanks to the rising amount of attention being paid to the environmental and health concerns caused by the unsustainable accumulation of nonbiodegradable waste in developed as well as developing urban centers around the world. Nonbiodegradable waste often comes in the form of plastics and other petroleum-derived content, which can be applied to produce electricity. The advanced technology employed in waste to energy procedures has thus taken on a crucial role in environmental conservation.
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What are the key drivers for the waste to energy technology market?
The prime driver for the global waste to energy technology market is the increasing pollution caused by human waste. Landfills, for so long a reliable method of sustainably disposing off large quantities of waste, have also faced problems due to the steep rise in the use of plastics. Nonbiodegradable components in human waste have also come under the scanner due to their role in deaths of animals, with aquatic animals and animals living in close proximity to humans being particularly prone to choking from consuming discarded plastic waste.
According to data gained from the World Bank, nonbiodegradable urban waste is likely to become a major economic problem in the coming years, with the total amount of waste generated expected to reach 11 million tonnes per day by the end of the 21st century. The logistical, environmental, and administrative problems caused by this rise could be averted by widespread adoption of waste to energy technology.
What are the main regional markets for waste to energy technology?
The global waste to energy technology market is centered on Asia Pacific, with China establishing itself as a global leader in the utilization of urban waste for energy generation. The rapid urbanization observed in China in recent decades is responsible for the dynamic growth of the waste to energy market, and is likely to ensure steady growth of the waste to energy market in China in the coming years. In March 2017, nine new waste to energy plants were sanctioned in China, helped in part by funding from the Asian Developmental Bank. Developed by Dynagreen Environmental Protection Group, the environmental infrastructure arm of the state-owned Assets Management Company, the waste to energy technology plants are expected to produce an output of 610 GWh per year by the end of 2018.
The waste to energy market is also likely to exhibit steady progress in India in the coming years. Comprehensive waste to energy proposals are being discussed for major several Indian cities. A waste to energy plan is being formulated for the economic capital, Mumbai, while Nashik, another city in the same state, received a waste to energy plant in April 2017. Perhaps shedding light on the most viable method to strengthen the waste to energy technology market in India, the latter was funded by Gesellschaft fur Internationale Zusammenarbeit, the German government’s nodal agency. Collaborations such as these between entities in the waste to energy technology market in Asia Pacific and Europe are likely to be a prominent feature of the global waste to energy technology market in the coming years.
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Europe is likely to remain a key player in the global waste to energy technology market in the coming years. One of the crucial drivers for the Europe waste to energy technology market is the steady government support in the form of supportive EU regulations. The European administration has always held a firmly pro-environmentalism stance and is thus likely to remain a major consumer of waste to energy technology.