New York, United States , Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Global Landfill Gas to Energy (LFGTE) Systems Market Size is Expected to Grow from USD 7.64 Billion in 2023 to USD 15.7 Billion by 2033, at a CAGR of 7.47% during the forecast period 2023-2033.
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The economic ecology centered on the gathering, extraction, and use of gases created during the organic waste's natural decomposition in landfills is known as the "landfill gas to energy". Landfill gas, which is primarily made up of carbon dioxide and methane, presents benefits as well as concerns for the environment. By using technology to capture and transform these gases into energy, the market aims to realize the potential of these gases as a valuable resource. The landfill gas to energy (LFGTE) market is crucial in addressing environmental issues, particularly methane emissions, which contribute to climate change. The market is influenced by legal frameworks, technological advancements, and financial incentives to reduce environmental impact, support waste management, and aid in renewable energy sources. In the US, landfills handle 14.4% of methane emissions, making them the third-largest source. Key growth drivers include stricter environmental regulations, growing demand for renewable energy sources, and government incentives. LFGTE systems can generate electricity, heat, or fuel from captured landfill gas, making them financially viable for landfill operators. The main restraints for the landfill gas to energy system market include initial investment required to install LFGTE systems can be high, the quantity and quality of landfill gas, environmental conditions, and limitations in terms of efficiency, reliability, and maintenance requirements, which can affect their overall viability. The Australian government is enhancing landfill gas capture at Mugga Lane landfill to promote a circular economy by collaborating with renewable energy engineering business LGI Limited.
Browse key industry insights spread across 217 pages with 110 Market data tables and figures & charts from the report on the "Global Landfill Gas to Energy (LFGTE) Systems Market Size, Share, and COVID-19 Impact Analysis, By Application (Electricity Generation, Direct Use, Combined Heat and Power (CHP), and Vehicle Fuel), By Capacity (Small Scale (Below 500 kW), Medium Scale (500 kW – 5 MW), and Large Scale (Above 5 MW)), By End-User (Municipalities, Industrial Sector, Utilities, and Commercial Enterprises), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The energy generation segment is predicted to hold the largest market share through the forecast period.
Based on the application, the landfill gas to energy (LFGTE) systems market is classified into electricity generation, direct use, combined heat and power (CHP), and vehicle fuel. Among these, the energy generation segment is predicted to hold the largest market share through the forecast period. This is mostly because LFGTE systems the most well-known and often used application of landfill gas have been widely adopted for the generation of electricity. Electricity produced by generators, turbines, or engines running on landfill gas can be consumed on-site or sold to the grid.
The large-scale (above 5 MW) segment is anticipated to hold the highest market share during the projected timeframe.
Based on the capacity, the landfill gas to energy (LFGTE) systems market is divided into small scale (below 500 kW), medium scale (500 kW – 5 MW), and large scale (above 5 MW). Among these, the large-scale (above 5 MW) segment is anticipated to hold the highest market share during the projected timeframe. This is caused by the growing focus on utilizing larger landfills' potential for energy production, as these sites usually generate larger amounts of landfill gas. Greater economies of scale can be attained by larger LFGTE systems, increasing their total cost-effectiveness and drawing landfill operators to invest in them. Large-scale LFGTE initiatives can also more efficiently capture and utilize the significant landfill gas resources present at these locations since they frequently have access to more funding, technological know-how, and infrastructure support.
The industrial sector segment is anticipated to hold the greatest share of the landfill gas to energy (LFGTE) systems market during the projected timeframe.
Based on the end users, the landfill gas to energy (LFGTE) systems market is divided into municipalities, industrial sector, utilities, and commercial enterprises. Among these, the industrial sector segment is anticipated to hold the greatest share of the landfill gas to energy (LFGTE) systems market during the projected timeframe. This is a result of the significant demand from industrial facilities, including factories, refineries, and processing centers, for affordable and renewable energy sources. These industrial facilities can gain a great deal by using the available landfill gas to produce fuel, electricity, or heat for their operations. These facilities frequently have substantial on-site energy requirements. Due to the potential for cost savings, increased energy security, and decreased environmental effect, the industrial sector favours LFGTE systems since landfill gas may serve as a dependable and renewable energy supply.
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North America is estimated to hold the largest share of the landfill gas to energy (LFGTE) systems market over the forecast period.
North America is estimated to hold the largest share of the landfill gas to energy (LFGTE) systems market over the forecast period. With many active landfills and a well-established waste management system, the region offers a substantial source of landfill gas that may be efficiently recovered and used to generate energy. Additionally, the availability of favorable government regulations, such as tax breaks, incentive plans, and mandates for renewable energy, has aided in the development and implementation of LFGTE systems throughout North America. The development of LFGTE technology has also been fueled by the region's thriving commercial and industrial sectors, which have a high demand for dependable and sustainable energy sources. North America's position as the leading market for LFGTE systems over the forecast period has been cemented by the presence of leading LFGTE technology providers and the region's robust research and development capabilities, which have further contributed to the advancement and cost-effectiveness of these systems.
Europe is expected to grow the fastest during the forecast period. This is supported by the region's strict environmental laws and policies that support renewable energy, lower greenhouse gas emissions, and move the economy in the direction of a circular economy. The ambitious energy and climate targets set by the European Union, such as the objective of becoming carbon neutral by 2050, have stimulated investment in and adoption of LFGTE technology in a variety of businesses and municipalities.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the landfill gas to energy (LFGTE) systems market include Waste Management Inc., Veolia Environnement S.A., Covanta Holding Corporation, Republic Services Inc., BP plc, SUEZ Group, Waste Connections Inc., Dalkia Wastenergy (EDF Group), Ameresco Inc., Aria Energy, MicroPowers Ltd., INNIO, Jiangsu New Energy Development Co. Ltd. And Others
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Recent Developments
- In March 2024, Nopetro Renewables, a Miami-based developer and operator of renewable natural gas (RNG) projects, has bust ground on southern Florida’s first landfill gas-to-RNG facility. The $40 million facility is being installed at a landfill in Vero Beach, Florida, now recognized as the Vero Beach Nopetro Eco District.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the advanced materials for the semiconductor market based on the below-mentioned segments:
Global Landfill Gas to Energy (LFGTE) Systems Market, By Application
- Electricity Generation
- Direct Use
- Combined Heat and Power (CHP)
- Vehicle Fuel
Global Landfill Gas to Energy (LFGTE) Systems Market, By Capacity
- Small Scale (Below 500 kW)
- Medium Scale (500 kW – 5 MW)
- Large Scale (Above 5 MW)
Global Landfill Gas to Energy (LFGTE) Systems Market, By End-User
- Municipalities
- Industrial Sector.
- Utilities
- Commercial Enterprises
Global Landfill Gas to Energy (LFGTE) Systems Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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