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July 30, 2021, 11:23 a.m. EDT

Increased Adoption of Renewable Energy Sources Boosts Expansion of Waste to Energy Market | Will Register A 6.1% CAGR

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Jul 30, 2021 (Market Insight Reports) -- Albany, New York: "Waste to Energy Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2018 – 2026" is the title of new study added to document repository of ResearchMoz. The report enclosed in around 334 pages gives complete overview of the waste to energy market for the forecast period of 2018 to 2026. Thus, this assessment gives lucid summary of crucial parameters such as the growth avenues, drivers, restraints, challenges, regional analysis, research and development activities, and competitive landscape in the global market .

The global waste to energy market is estimated to grow at decent pace in the forthcoming years. This growth can be attributed to many factors such as increased worldwide population, growing urbanization, and rising demand for electricity across many developed and developing countries in the world. Moving forward, the waste to energy market is likely to expand on the back of presence of favorable regulatory policies in many countries across the globe.

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The shortage of conventional fossil fuels is one of the crucial issues today. In order to cater to the consistently growing demand for fuel from all across the globe, several government bodies are encouraging the use of various renewable energy resources. The popularity of waste to energy (WtE) process is growing at rapid pace owing to the increased need for the production of renewable energy resources. Waste to energy can be defined as a process in which energy is produced using the waste treatment. Thus, this technique helps in converting waste into a power generation source.

The waste to energy technique is likely to help in decreasing municipal solid wastes (MSWs) landfilling by 90%. This scenario is expected to decrease the carbon dioxide (CO2) emissions. Thus, we can say that the waste to energy technique may play key role in the environment conservation. Moreover, the energy generated using the waste to energy technique is comparable to that of energy created using natural gas, oil, or coal. Growth in awareness about all these benefits is likely to result into increased adoption of renewable energy sources. This factor is foreseen to translate into promising growth of the global waste to energy market in the forthcoming years.

Research and Development: Key Growth Strategy Implemented by Players in Waste to Energy Market

SUEZ, Veolia, Keppel Corporation Limited, Covanta Holding Corporation, China Everbright International Limited, Constructions industrielles de la Mediterranee (CNIM), STEAG GmbH, Babcock & Wilcox Enterprises, Inc., Gazasia Ltd., and Future Biogas Limited are some of the key players from the waste to energy market. The presence of many active players denotes the high level of competitive landscape of the market for waste to energy. This situation has encouraged the players in this market to implement diverse strategic moves and gain the leading market position. Investing heavily in the research and development activities is one of the key strategies utilized by players in the global waste to energy market.

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Waste to Energy Market Segmentation

Waste type, technology, application, and region are some of the key facets considered for the segmentation of the global waste to energy market. Using segmentation technique, the report analysts have presented all market data in a self-explanatory manner. In terms of waste type, the waste to energy market is classified into agricultural waste, municipal solid waste (MSW), and others. Depending on technology, the market is classified into thermochemical and biochemical. Based on application, the market for waste to energy is bifurcated into heat, electricity, and others. In terms of region, the waste to energy market is segmented into many regions such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

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