Landfill Gas-To-Energy (LGFE) Market by Type (Thermal Technologies and Biochemical Reactions), By Application (Power Plant and Heating Plant), By Region, Forecasts By 2030
- PUBLISHED ON
- 2024-07-10
- NO OF PAGES
- 245
- CATEGORY
- Energy & Power
Landfill Gas-To-Energy (LGFE) Market was worth USD 1.4 billion in 2020 and is poised to amass a valuation of USD 2.8 billion by 2030, registering a CAGR of 7.4% over the forecast duration of 2022-2030. The increasing environmental cognizance of the masses coupled with the growing incidences of fossil fuel depletion are the primary factors augmenting the outlook of this business sphere.
Furthermore, technological advancements and rising R&D activities in the field are creating lucrative opportunities for the marketplace to prosper. Alongside, rise in the costs of crude oil is creating an upward trend for the industry development.
Also, rise in the number of government initiatives and stringent rules aimed at the reduction of GHC emission levels across various nations is positively swaying the dynamics of this business vertical.
Besides, increasing demand for continuous power supply across major economies is escalating the need for energy efficient electricity sources. This in turn is adding momentum to the expansion of this business sphere.
On the contrary, landfill gas contains a high proportion of methane which in turn can contaminate soil and water if present for a longer period. This is one of the major factors hindering the remuneration scope of this marketplace.
Landfill gas is obtained by the decomposition of organic components in landfills. In other words, it is a natural byproduct formed by the reaction of microorganisms on the organic wastes that are present within a landfill.
Market Key Trends
Increasing Environmental Cognizance To Aid The Industry Expansion
With widespread industrialization and urbanization, there has been a rapid increase in the instances of fossil fuel depletion and GHG emissions, among others.
Rise In Crude Oil Prices To Bolster Market Growth
Powered by fossil fuel depletion and other significant factors, the prices of crude oils including diesel and petrol are skyrocketing. This has elevated the demand for affordable and energy efficient fuel sources. There has been a growing adoption of landfill gas as a fuel source for vehicles owing to its high methane content. This in turn is stimulating the overall dynamics of this market.
Market Segmental Assessment
By Type
• Biochemical Reactions
By Application
• Power Plant
• Heating Plant
The power plant segment is slated to amass notable gains over the estimated timeline owing to the elevating demand for continuous and energy efficient power supply across the globe.
Market Geographical landscape
North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the major regions constituting the geographical terrain of this business vertical. Among these, North America is projected to capture a substantial revenue share over 2022-2030.
Market Competitive Hierarchy
The prominent players characterizing the competitive terrain of this industry sphere are Clarke Energy, Covanta Holding Corporation, Viridor, Suez, Wheelabrator Technologies, Inc., Veolia, A2A, EEW Efw, Attero, TIRU, Grandblue Environment Co., Ltd., MVV Energie, China Everbright Environment Group Limited, Tianjin Teda Co., Ltd., and Shenzhen Energy Group Company Limited.
Notably, in October 2020, Veolia signed a partnership deal with Waga Energy to jointly develop a purification unit for waste storage in the largest landfill of France named Claye-Souilly.
Key Segments Covered-
• By Type (Thermal Technologies and Biochemical Reactions)
• By Application (Power Plant and Heating Plant)
Major Regions And Countries Reported-
• North America (U.S. and Canada)
• Asia Pacific (China, Japan, Australia, South Korea, and India)
• Latin America (Columbia, Mexico, Argentina, and Brazil)
• Middle East & Africa (UAE, Egypt, and South Africa)
• Europe (U.K., France, Germany, Russia, and Italy)
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Landfill Gas-To-Energy (LGFE) Market was worth USD 1.4 billion in 2020 and is poised to amass a valuation of USD 2.8 billion by 2030, registering a CAGR of 7.4% over the forecast duration of 2022-2030.
What are the drivers shaping various markets?
Powered by fossil fuel depletion and other significant factors, the prices of crude oils including diesel and petrol are skyrocketing. This has elevated the demand for affordable and energy efficient fuel sources. There has been a growing adoption of landfill gas as a fuel source for vehicles owing to its high methane content. This in turn is stimulating the overall dynamics of this market.
Who are the key competitors of market Players?
Some of the major players operating within the market are Clarke Energy, Covanta Holding Corporation, Viridor, Suez, Wheelabrator Technologies, Inc., Veolia, A2A, EEW Efw, Attero, TIRU, Grandblue Environment Co., Ltd., MVV Energie, China Everbright Environment Group Limited, Tianjin Teda Co., Ltd., and Shenzhen Energy Group Company Limited
What are the top performing segments, and countries / regions of each of the markets?
North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the major regions constituting the geographical terrain of this business vertical.
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