Reduction in usage of conventional energy resources and rise in applications of landfill gas in the commercial and industrial sector are primary factors driving the growth of the global landfill gas market.
PORTLAND, Ore., Sept. 6, 2021 /PRNewswire/ — Allied Market Research published a report, titled, “Landfill Gas Market by Application (Electricity, Direct Use, Combined Heat & Power and Alternate Fuels: Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global landfill gas industry was worth $1.4 billion in 2020, and is anticipated to reach $2.8 billion by 2030, showcasing a CAGR of 7.4% from 2021 to 2030.
Prime drivers of the market growth
Governments of many countries are undertaking waste management initiatives, helping the growth of the global landfill gas market. However, the high set-up cost needed to maintain the required moisture level to facilitate the organic waste decomposition is anticipated to hinder the market growth. Moreover, landfill gas may contaminate the soil and water, and the methane gas produced from the decomposition cause problems, restraining the growth of the landfill gas market. Contrarily, rise in the use of landfill gas and abundant availability of solid waste is anticipated to offer attractive opportunities for the key market players.
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· The rise in the presence of harmful gas and the presence of breeding sites for various harmful bacteria which can cause harmful disease during the COVID pandemic are a couple of factors leaving a positive impact on the development of the landfill gas market.
The electricity application segment will maintain the leading position throughout the forecast period
Based on application, the electricity segment contributed for the highest market share in 2020, accounting for more than three-fourths of the global landfill gas market, and is projected to maintain the leading position during the forecast period. This lead is attributed to the rise in the use of portable electronic devices and electric energy source-based products.
On the other hand, the alternate fuels segment is anticipated to manifest the highest CAGR of 9.5%
from 2021 to 2030, owing to the depletion of fossil fuels and the rise in demand for fossil fuels leading to the search and innovation of alternative fuels such as CNG and LNG from landfills.
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North America to maintain its lead by 2030
Based on region, North America held the highest market share in 2020, contributing to nearly three-fifths of the global landfill gas market, and is expected to dominate the market by 2030. This lead is possible due to the rise in health and environmental awareness among the people. The rise in technology across the world have offered various developments in the applications of energy utilization and processing of biofuels from biodegradable wastes.
On the other hand, Asia-Pacific is accounted for the highest CAGR of 9.1% from 2021 to 2030, owing to the increase in the demand for electricity and reduction in the pollution caused due to landfilling. Moreover, the rise in environmental concerns and increase in investments in R&D by key players caused an increase in the sales footprint.
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Leading Market Players
Covanta Holding Corporation,
Waste Management, Inc.,
Veolia Environnement S.A,
SUEZ SA, Kohler Co., Inc.,
Aria Energy Corp,
Granite Acquisition, Inc.,
Shanghai Chengtou Holding Co., Ltd.
Pennon Group Plc.,
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