Global Landfill Gas-To-Energy (LGFE) Market by Type (Thermal Technologies and Biochemical Reactions), By Application (Power Plant and Heating Plant), By Region, Forecasts 2024-2035
- PUBLISHED ON
- 04/10/2022
- NO OF PAGES
- 245
- CATEGORY
- Energy & Power
Landfill gas is obtained by the decomposition of organic components in landfills. In other words, it is a natural byproduct formed by the reaction of microorganisms on the organic wastes that are present within a landfill. This gas is predominantly utilized as a fuel source for heat and electricity generation. Landfill gases are converted into energy giving fuels by using microturbines, gas turbines, fuel cells, and internal combustion engines, among others.
Global Landfill Gas-To-Energy (LGFE) Market- Overview
The Global Landfill Gas-To-Energy (LGFE) Market was worth USD 1.4 billion in 2020 and is poised to amass a valuation of USD 2.8 billion by 2030, registering a CAGR of 7.4% over the forecast duration of 2022-2030. The increasing environmental cognizance of the masses coupled with the growing incidences of fossil fuel depletion are the primary factors augmenting the outlook of this business sphere.
Furthermore, technological advancements and rising R&D activities in the field are creating lucrative opportunities for the marketplace to prosper. Alongside, rise in the costs of crude oil is creating an upward trend for the industry development.
Also, rise in the number of government initiatives and stringent rules aimed at the reduction of GHC emission levels across various nations is positively swaying the dynamics of this business vertical.
Besides, increasing demand for continuous power supply across major economies is escalating the need for energy efficient electricity sources. This in turn is adding momentum to the expansion of this business sphere.
On the contrary, landfill gas contains a high proportion of methane which in turn can contaminate soil and water if present for a longer period. This is one of the major factors hindering the remuneration scope of this marketplace.
Global Landfill Gas-To-Energy (LGFE) Market- Key trends
Increasing environmental cognizance to aid the industry expansion
With widespread industrialization and urbanization, there has been a rapid increase in the instances of fossil fuel depletion and GHG emissions, among others. This in turn has increased the emphasis of the concerned authorities towards environmental protection. Hence, governments across the globe are promoting the use of natural energy sources like landfill gas to fulfil the energy needs of the masses. These factors are adding traction to the progression of this industry.
Rise in crude oil prices to bolster market growth
Powered by fossil fuel depletion and other significant factors, the prices of crude oils including diesel and petrol are skyrocketing. This has elevated the demand for affordable and energy efficient fuel sources. There has been a growing adoption of landfill gas as a fuel source for vehicles owing to its high methane content. This in turn is stimulating the overall dynamics of this market.
Global Landfill Gas-To-Energy (LGFE) Market- Segmental assessment
By Type
• Thermal Technologies
• Biochemical Reactions
By Application
• Power Plant
• Heating Plant
The power plant segment is slated to amass notable gains over the estimated timeline owing to the elevating demand for continuous and energy efficient power supply across the globe.
Global Landfill Gas-To-Energy (LGFE) Market- Geographical landscape
North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the major regions constituting the geographical terrain of this business vertical. Among these, North America is projected to capture a substantial revenue share over 2022-2030. This is attributable to the increasing environmental awareness of the masses, stringent emission rules, and growing technological innovations in the field.
Global Landfill Gas-To-Energy (LGFE) Market- Competitive hierarchy
The prominent players characterizing the competitive terrain of this industry sphere are Clarke Energy, Covanta Holding Corporation, Viridor, Suez, Wheelabrator Technologies, Inc., Veolia, A2A, EEW Efw, Attero, TIRU, Grandblue Environment Co., Ltd., MVV Energie, China Everbright Environment Group Limited, Tianjin Teda Co., Ltd., and Shenzhen Energy Group Company Limited.
Notably, in October 2020, Veolia signed a partnership deal with Waga Energy to jointly develop a purification unit for waste storage in the largest landfill of France named Claye-Souilly.
Report scope
Global Landfill Gas-To-Energy (LGFE) Market: Historical Years- 2018-2021
Global Landfill Gas-To-Energy (LGFE) Market: Forecast Years- 2022-2030
Global Landfill Gas-To-Energy (LGFE) Market 2020- USD 1.4 billion
Global landfill gas-to-energy (LGFE) projected market 2030- USD 2.8 billion
Global Landfill Gas-To-Energy (LGFE) Market CAGR- 7.4%
Key segments covered-
• By Type (Thermal Technologies and Biochemical Reactions)
• By Application (Power Plant and Heating Plant)
Major regions and countries reported-
• North America (U.S. and Canada)
• Asia Pacific (China, Japan, Australia, South Korea, and India)
• Latin America (Columbia, Mexico, Argentina, and Brazil)
• Middle East & Africa (UAE, Egypt, and South Africa)
• Europe (U.K., France, Germany, Russia, and Italy)
Top players profiled- Clarke Energy, Covanta Holding Corporation, Viridor, Suez, Wheelabrator Technologies, Inc., Veolia, A2A, EEW Efw, Attero, TIRU, Grandblue Environment Co., Ltd., MVV Energie, China Everbright Environment Group Limited, Tianjin Teda Co., Ltd., and Shenzhen Energy Group Company Limited
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Historic Year: 2016-2022
Forecast: 2024-2035
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