The increase in usage of portable electronic gadgets and electric energy source-based products has increased the demand for electricity. The depletion and uneven presence of natural resources across the globe is one of the driving factors for the growth of landfill gas market. The outbreak of pandemic has led the energy industries and countries which depend on its energy on fossil fuel imports into a tight spot. Various governments have set their sights on renewable and cost-efficient methods to solve this problem to overcome the future crisis. The above-mentioned are the key factors that provide remunerative opportunities for the growth of the market across the globe. The global landfill gas market size was valued at $1.4 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 7.4% from 2021 to 2030.
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The rapid development of reciprocating gas engines due to their application in multiple power generation equipment to provide backup generating capacity offers scalable and efficient solutions for commercial and industrial combined heat and power systems. The presence of plentiful natural gas supplies and relatively stable infrastructure in the U.S is one of the factors driving the interest in reciprocating engines for industrial applications. The creative use of reciprocating engine technology includes not only power generation but also thermal and even captured emissions are gaining traction in some well-known countries. These factors provide ample growth opportunities for the growth of the landfill gas market throughout the forecast period.
Landfill gas production volume depends on several factors which include characteristics and external environmental factors. The most essential part of landfill gas production process is the survival of the bacteria for the decomposition of organic waste. In addition, drop in moisture level leads to retarded biological process which is associated with biological decomposition. Also, it may also contaminate the soil and water, and the methane gas produced from the decomposition will light up in some rare conditions to cause problems. The above are various factors restraining the growth of the landfill gas market throughout the forecast period.
The global landfill gas market is segmented on the basis of application and region. The applications covered in the study include electricity, direct use, combined heat & power and alternate fuels. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.
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The major companies profiled in this report include Waste Management, Inc., Covanta Holding Corporation, Veolia Environnement S.A, Pennon Group Plc., SUEZ SA, Kohler Co., Inc., Aria Energy Corp, Granite Acquisition, Inc., Vectren Corporation and Shanghai Chengtou Holding Co., Ltd.
Key players across the globe have plans to establish landfill gas production capacities to meet relative market share across the globe due to rapid increase in demand for landfill gas.
Impact Of Covid-19 On The Global Landfill Gas Market
- Emergence of COVID-19 had a positive impact on the growth of the global landfill gas market for a short period.
- The unavailability of labor and improper transportation during this period has put various energy producers in a tight situation to meet the requirements of the consumers.
- The awareness among the people related to the environmental impact brought by landfill waste during this period has led to an increase in investment from the private and government sectors toward the construction of landfill gas plants.
- The increase in the presence of harmful gas such as carbon dioxide, methane, and also a breeding site for various harmful bacteria which can cause harmful disease during this pandemic situation have shown a positive impact on the development of the landfill gas market.
- Thus, the abovementioned factors are expected to boost the global landfill gas market growth in current times.
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Key findings of the study
- By region, the North America landfill gas market is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
- By application, the electricity segment accounted for the largest landfill gas market share in 2020, as per landfill gas market analysis.
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