Rockville, Nov. 10, 2022 (GLOBE NEWSWIRE) -- In fiscal year 2021, the worldwide landfill gas market is expected to be valued at around US$ 1.3 billion. The market is predicted to develop at an 8.3% CAGR from 2022 to 2032, achieving a value of US$ 3.1 billion by the end of 2032. According to Fact MR, a provider of market research and competitive intelligence, the global landfill gas market had a CAGR of 5.2% during the historical period of 2017-2021.
However, with increased demand for landfill gas in the coming years, the applications of this gas in a variety of direct and improved application sectors will increase too. Supplier revenues are now being raised by a variety of programmes, including waste management education campaigns by governmental and charity organizations, as well as efforts to reduce the impact of greenhouse and other dangerous gasses on the ecosystem.
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The movement in consumer preference for renewable energy sources, notably biogas, is one of the important trends supporting the landfill gas market overview. Organic waste decomposition has the potential to generate 4 million m3 of landfill gas per year. Furthermore, major landfill gas generation activities will occur in the next few years as a result of rapid improvements in urban waste management. Electricity generation is expected to be a substantial market sector in the landfill gas application market by 2032.
This is due to the rapid advancement of landfill power station projects and the increasing usage of waste gas to generate electricity in many different locations. According to the Istanbul Metropolitan Municipality, the first phase of the Seymen landfill gas energy project, which is meant to extract methane and create power within a 20 MW system, will be completed in 2020. With such quick development all over the world, the landfill gas market will boom over the forecast period.
Key Takeaways from the Market Study
- In 2022, the global landfill gas market is estimated to have a global market size of US$ 1.3 Bn.
- The electricity use case segment is expected to have a 55% market share in 2022 and to dominate the global market from 2022 to 2032.
- The direct use-case segment is predicted to increase at a robust CAGR of 8.63% between 2022 and 2032.
- The US region is predicted to acquire a 64.2% global market share by 2022.
- The Indian landfill gas market is expected to gain a 45.1% market share during 2022.
“One of the major aspects underpinning the landfill gas market overview is a shift toward sustainable energy sources, such as biogas, to combat climate change. Such a step will bolster the demand during the forecast period” comments a Fact.MR analyst.
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The United States Landfill Gas Market has a very bright outlook
Based on Fact.MR analysis, the landfill gas sector in 2022 will most likely be the leading market in the United States. According to this prediction, the North American is anticipated to obtain over 64.2% of the market share by the end of 2022.
The demand for landfill gas in the United States is presently valued at $780 Million, and it is forecast to grow by roughly 7.7 % in the coming years. The second-largest landfill gas market in the world, North America, is also expected to continue to be led by the landfill gas sector of the United States, which will remain the most profitable.
Competitive Landscape
Since the global landfill gas sector is constantly evolving, major companies are facing growing rivalry. To maintain their leadership positions, industrial companies are developing a greater range of products and solutions, as well as using strategic expansion approaches.
- Covanta indicated in 2022 that it aimed to separate its European activities from Covanta Holding Corporation and develop a stand-alone waste-to-energy infrastructure in Europe with EQT Infrastructure. Covanta's European infrastructure is a market leader in the ownership and administration of Energy-from-Waste plants, with three facilities already in operation and three more under construction in Ireland, the United Kingdom, and Italy.
- In 2022, amid mounting energy market tensions, Veolia announced an unusual goal: to make its waste and water services in France energy self-sufficient in the following five years, utilizing 2 TWh (terawatt-hours) of locally produced energy to fulfill its whole present demand. This is equivalent to the consumption of 430,000 French homes.
Prominent Players in The Global Market
- Waste Management, Inc.
- Covanta Holding Corporation
- Veolia Environment S.A.
- Pennon Group Plc.
- SUEZ SA
- Kohler Co., Inc.
- Aria Energy Corp
- Granite Acquisition, Inc.
- Vectren Corporation
- Shanghai Chengtou Holding Co., Ltd.
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Key Segments Covered in the Landfill Gas Market Report
- By Use Case
- Electricity
- Internal Combustion & Reciprocating Engines
- below 500 kW
- 500 kW to 1 MW
- 1 MW - 2 MW
- Above 2 MW
- Internal Combustion & Reciprocating Engines
- Gas Turbines
- Below 2 MW
- 2 - 5 MW
- 5 - 8 MW
- Above 8 MW
- Micro Turbine
- Below 100 kW
- 100 - 150 kW
- 150 - 200 kW
- Above 200 kW
- Direct Use
- Boilers
- Direct Thermal & Leachate Evaporation
- Others
- Electricity
- Combined heat and power
- Alternate fuels
- Pipeline fuel
- Vehicle fuel
- By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
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