Global Waste to Energy Market: Overview
Waste to energy processes refer to a technique used for converting municipal solid waste, which is generated from the industrial, commercial, and domestic sectors, into energy. Various technologies are deployed to process the waste generated from the various sectors to produce fuel cell, steam, and electricity. The course of action in every technology is comparatively different and the end product is used in industries, commercial units, and domestic dwellings. Waste to energy technology helps in regaining monetary value from different kinds of wastes such as plastic and tin cans, among others.
The global waste to energy market is expected to be driven by the growing demand for renewable resources worldwide and the shift towards alternative renewable sources of energy such as coal to decrease carbon emissions. Governments across the world have been impelled to impose stringent regulations regarding waste control due to the rising volume of industrial and domestic waste. The market is further expected to benefit from the incentives provided by governments in the form of tax benefits and subsidies. The deployment of waste to energy techniques is anticipated to rise over the forthcoming years owing to the burgeoning environmental concerns across the globe.
The market is projected to rise to a valuation of US$31.8 bn by the end of 2019.
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