PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339131
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339131
The global landfill gas market size is expected to reach USD 3.55 billion by 2032, according to a new study by Polaris Market Research. The report "Landfill Gas Market Share, Size, Trends, Industry Analysis Report, By Technology (Combustion Engine, Turbines, and Others); By Type (Thermal Technologies, Biochemical Reactions); By Application; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
As the world continues to focus on reducing carbon emissions and transitioning to renewable energy sources, there is an emerging demand for landfill gas as a clean and renewable energy source along with the rising penetration for installing gas collection systems and adoption of several new solutions that are being introduced by key players, are driving the demand and growth of the market. For instance, in May 2023, Vespene Energy & Viridi Energy, introduced their first joint pilot site with municipal landfill in Marathon County, which will reduce the GHG emissions, while generating the revenue to subsidize Viridi's investment towards developing the RNG facility at the land-fill.
Furthermore, landfills usually generate large amounts of waste and the collection and processing of landfill gas can help to manage this waste more effectively and efficiently, that could also help to reduce the amount of waste sent to landfills and promote more sustainable waste management practices, is likely to create significant opportunities for the market.
The rapid development and enhancements in gas processing technology have made it possible to remove impurities from landfill gas and produce gas that meets pipeline-quality standards and has also helped to increase the value of landfill gas as a fuel source and made it more attractive to energy producers all over the world.
Moreover, the extensive rise in the prevalence for integrating data analytics tools in order to accurately analyze large amounts of data generated by landfill gas collection and processing systems and is being widely utilized to identify patterns and trends in gas production and usage, which can help to optimize system performance and improve overall efficiency of the systems.
Turbines segment accounted for largest market share in 2022, on account of its capabilities to offer higher efficiency and widespread adoption of these turbines due to numerous benefits
Thermal technologies segment held the maximum market share in 2022, which is mainly driven by its growing popularity as a cost-effective and efficient technique to convert LFG into energy
Electricity generation segment is expected to grow at a high CAGR during the anticipated period, due to increased electricity demand and expansion of the distribution networks
Europe region dominated the global market with substantial market share in 2022, owing to availability of improved waste management solutions and developed manufacturing infrastructure across the region
The global key market players include: Vectren Corporation, Aria Energy Corporation, General Electric, Progressive Waste Solution, Shanghai Chengtou Holding, and Covanta Holding Corporation
Polaris Market Research has segmented the landfill gas market report based on technology, type, application, and region: