The most popular application is municipal solid waste (MSW) processing followed by industrial remains. The main drivers expected to impact overall market growth includes increasing waste generation activities by industries coupled with high energy costs. Restricted land filling and growing environmental issues are also expected to further enhance global industry demand over the forecast period. WtE is expected to solve the environmental problems related to waste by reducing the volume and decreasing the greenhouse gas emissions.
Moreover, government initiatives especially by European governments have significantly contributed to the regional WtE industry growth in the recent years. Economic development, industrialization, and public habits have given rise to the generation of tremendous left overs and, therefore, driving the overall market.
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As of 2015, more than 50% of the global population live in urban areas and, therefore, accelerating municipal solid waste accumulation. Garbage has been a worrying cause for local governing bodies mainly in developing areas. Favorable government policies coupled with financial aid are expected to positively influence the industry in near future. Government institutions have been supporting the growth by giving relaxation on taxes as well as providing incentives.
Further, growing recycling industry in developed markets including the U.S., Japan, and Germany is expected to significantly contribute the overall growth. Some companies have in-house established WtE as a part of their corporate social responsibility. General Motors and Detroit Renewable energy collaborated to establish an energy project which converts approximately one million tons annually. The project provides around 15.8 megawatts of renewable energy to General Motors.
A study by world bank in 2012 found out that global MSW is approximately 1.3 billion tones per year with high percentage share belonging North America and Asia Pacific. These MSW contain paper, organics, plastics, metals, and glasses. WtE technologies are capable of converting these wastes into various valuable energy forms. Local and national grid systems can be used to distribute power generated from these wastes. Heat can be generated and transported for district heating and thermodynamic purposes. Some biofuels variants can be obtained from organic wastes and sold in markets after refining. High costs associated with WtE establishment is expected to act as a barrier for global market over the forecast period.
Initial investment costs play a crucial role on account of large facility size and installed components. Maintenance and operational costs have a lower impact on the total expenses. Cost effective traditional dumping method which include landfill sites creation is expected to hamper the rapid growth over the forecast period.
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