Global Landfill Gas Market projected to grow at a CAGR of 7.4% from 2021 to 2030

WILMINGTON, DE, UNITED STATES, December 13, 2024 /EINPresswire.com/ --

According to a new report published by Allied Market Research, 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.

Landfill gas (LFG) is a natural byproduct of the decomposition of organic material in landfills. It is primarily composed of methane (CH₄) and carbon dioxide (CO₂), along with smaller amounts of other compounds. Capturing and utilizing LFG is an essential strategy for reducing greenhouse gas emissions and generating renewable energy.

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Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

North America landfill gas market is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.

The major companies profiled in the global landfill gas industry 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.

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.

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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.

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.

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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 applications covered in the study include electricity, direct use, combined heat & power and alternate fuels. The electricity segment accounted for the largest landfill gas market share in 2020, as per landfill gas market analysis.

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.

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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.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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