Landfill Gas Market Analysis
Landfill Gas Market share is expected to reach USD 3 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 8% during the forecast period.
Increased Demand for Power Generation
Landfill gas can be utilized as a low-carbon, sustainable alternative to conventional fossil fuels. When burned, it creates bioenergy, which is regarded as a clean fuel for energy generation. Growing global energy demand is expected to promote the production of bioenergy from biomass and landfill gases, which will, in turn, drive the expansion of the landfill gas market. As stated by the International Energy Agency (IEA), bioenergy power output increased by about 5% in 2019, which is only 1% less than the 6% annual power production rate needed to satisfy the 2030 sustainable development scenario goals.
Furthermore, renewable power generation from landfill gas will have a significant impact on global warming emissions since it can reduce the quantity of CO2 emitted into the atmosphere. In addition, increasing the supply of renewable landfill gas would allow for the replacement of carbon-intensive energy sources, resulting in considerable reductions in global warming emissions. As a result, increasing demand for clean energy generation is likely to fuel growth in the worldwide landfill gas market throughout the forecast period.
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COVID-19 Impact on the Global Market
COVID-19's impact on the global economy is faltering on a daily basis. It is proving to be a big hurdle for the renewable industry, resulting in a raw material supply bottleneck and probable job losses. Companies in the energy and power sector are facing a number of issues as a result of a drop in electricity costs due the COVID-19 crisis. Furthermore, Asia Pacific is one of the greatest landfill gas marketplaces. The slowing of the nation's economic growth has had an impact on the worldwide generation and renewable energy investment. Likewise, during the COVID-19 crisis, there was a greater emphasis on renewable technologies; yet, due to labor restrictions, fewer power plants were operational.
As stated by the Ministry of New and Renewable Energy (MNRE), just 222 MW of solar and 25 MW of wind capacity were obtained in India in March, as all efforts were halted owing to the pandemic. Similarly, according to a survey conducted by the World Bioenergy Association (WBA), the majority of respondents mentioned the pandemic's significant impact on the bioenergy business, resulting in a reduction in investment and the cancellation of new investments in the bioenergy and landfill gas sectors. Furthermore, due to fewer restrictions in the landfill gas market, gas treatment industries have seen a significant change in 2020. Major landfill gas manufacturers, including Landfill Systems Ltd., Veolia A/S, Waste Management Inc., and Suez SA, had experienced a production stoppage, resulting in massive backlogs and delays in completing orders.
COVID-19 has had a significant effect on all businesses around the world. Due to the rapid growth, governments worldwide have taken stringent measures for the functioning of industrial plants and offices, resulting in stringent lockdowns. The lockdown had a significant imapct on the energy sector, with energy demand dropping by 18% to 20% in 2020. In addition, the virus had a significant impact on the landfill gas and bio-energy segments, with a modest impact on the upgraded and fill gas segments. The result was a modest decline in revenues and a difficult position with managing the cash flow of market participants.
Market Segmentation
The global landfill gas industry has been segmented into the application.
By application, the global landfill gas market has been segmented into Direct Use and Upgraded.
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Regional Analysis
APAC to Lead the Global Market
The landfill gas market in the Asia Pacific is expected to have the largest proportion of the landfill gas market. The region has one of the world's major landfill gas markets. Due to the region's growing population and per capita disposable income, there is an increased demand for energy. In addition, the fast-developing economies in this region are also the world's top polluters. Moreover, due to the abundance of natural resources in the region, Asia Pacific is expected to grow significantly. Emerging economies such as India and Indonesia are expected to grow significantly as a result of proposed government laws to promote investment in the landfill gas sector.
Key Players
The prominent players operating in the worldwide landfill gas market are Waste Management, Inc (US), Covanta Holding Corporation (US), Veolia Environment S.A. (France), Pennon Group Plc (UK), SUEZ SA(France), Kohler Co., Inc. (US), Aria Energy Corp (US), AFCO Energy Inc. (US), Granite Acquisition, Inc. (US), Landfill Systems Ltd. (UK), Vectren Corporation (US) and Shanghai Chengtou Holding Co., Ltd. (China).
