How Is The Global Landfill Gas Capture And Utilization Market Defined?
Landfill gas capture and utilization refers to the process of collecting methane emissions from landfills and converting them into energy or other usable forms. This process helps reduce the environmental effects of landfill gas emissions, such as greenhouse gas emissions and air pollution, while also utilizing the potential energy content of waste gas for positive purposes.
Landfill Gas Capture And Utilization Global Market Report 2024 provides data on the global landfill gas capture and utilization market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Landfill Gas Capture And Utilization market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Landfill Gas Capture And Utilization Market Size And Growth Rates Projected To Evolve?
The landfill gas capture and utilization market has demonstrated strong growth, expanding from $2.77 billion in 2023 to $2.99 billion in 2024, achieving a compound annual growth rate (CAGR) of 8.0%. This growth in the historic period is driven by increasing environmental awareness prompting regulatory measures to mitigate greenhouse gas emissions from landfills, growing pressures to transition towards renewable energy sources, rising landfill gas emissions due to increasing waste disposal rates, and fluctuating energy costs driving interest in alternative energy sources. Looking ahead, the market is expected to see robust growth, reaching $4.08 billion by 2028, with a CAGR of 8.1%. Future growth drivers include rising global waste generation rates necessitating efficient waste management solutions, growing public awareness about environmental sustainability prompting investments in renewable energy projects, increasing collaboration across industries to explore synergies in waste management and energy production, escalating urbanization leading to higher energy demands from municipal and industrial sectors. Major trends anticipated in the forecast period include technological advancements enhancing efficiency in landfill gas capture and utilization processes, adoption of sustainable landfill management practices promoting circular economy principles, integration of renewable natural gas into existing energy infrastructures to reduce carbon footprints, and advancements in microbial fuel cell technologies enabling efficient conversion of landfill gases into electricity.
What Are The Essential Drivers Behind The Growth Of The Landfill Gas Capture And Utilization Market?
The rising demand for renewable energy is expected to propel the growth of the landfill gas capture and utilization market going forward. Renewable energy is defined as energy obtained from natural resources that regenerate on a human timescale, such as sunshine, wind, rain, tides, waves, and geothermal heat. The demand for renewable energy is rising due to environmental awareness, policy support, and corporate sustainability goals. Landfill gas capture and utilization meet renewable energy demand by harnessing the potential of methane gas emitted from decomposing organic waste in landfills. For instance, in December 2023, according to the Department for Energy Security and Net Zero, a UK-based government department, renewable electricity generation reached a record high of 39.9 terawatt-hours in the fourth quarter of 2023, marking a 4.9% increase compared to the same period in 2022. Moreover, renewables reached a new high, accounting for 47.3% of electricity generation. Therefore, the rising demand for renewable energy is driving the growth of the landfill gas capture and utilization market. The market size for landfill gas capture and utilization is projected to reach $J billion in 2023, $K billion in 2024, and $L billion by 2028.
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How Is The Global Landfill Gas Capture And Utilization Market Divided Into Key Segments?
The landfill gas capture and utilization market covered in this report is segmented –
1) By Product Type: Landfill Gas, Medium-Btu, Renewable Natural Gas
2) By Technology: Gas Collection Systems, Gas Treatment
3) By Application: Electricity Generation, Thermal Or Heat Generation, Fuels
What Trends Are Reshaping The Future Of The Landfill Gas Capture And Utilization Market?
Companies in the landfill gas capture and utilization market are investing in advanced energy generation technologies like RNG (renewable natural gas) facilities at landfills to maximize methane use, cut greenhouse gas emissions, and promote sustainable waste management. RNG facilities capture and process methane from decomposing organic waste, converting it into RNG or biomethane. For example, in May 2023, Vespene Energy, a US-based renewable energy company, partnered with Viridi Energy, a US-based renewable natural gas platform, to launch their first joint pilot site. This project uses landfill methane to power onsite data processing, aiming to reduce greenhouse gas emissions and generate funds for building a renewable natural gas facility at the landfill.
What Is The Fastest Growing Region In The Landfill Gas Capture And Utilization Market?
North America was the largest region in the landfill gas capture and utilization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the landfill gas capture and utilization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
