Global Landfill Gas (LFG) Market Size to Reach USD 3.37 Billion in 2032 | Emergen Research

Increasing need of landfill gas in commercial and industrial sectors is a major factor driving Landfill Gas (LFG) market revenue growth

Vancouver, Aug. 31, 2023 (GLOBE NEWSWIRE) — The Landfill Gas (LFG) market had a total worth of USD 1.62 Billion in 2022 and is anticipated to exhibit a consistent annual revenue growth rate of 7.6% throughout the projected period, as per the latest analysis conducted by Emergen Research. A primary driver of this expansion in market revenue is the increasing adoption of gas-to-energy technologies.

Landfill Gas (LFG) emerges as a viable renewable energy source when harnessed effectively. The process involves capturing and combusting the gas, resulting in the production of both electricity and heat. Gas-to-energy initiatives tap into the potential of LFG, which primarily consists of methane, a potent greenhouse gas, and transform it into a valuable energy resource.

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LFG, produced through the decomposition of organic waste within landfills, is a substantial source of methane emissions. To illustrate, in November 2022, NextEra Energy, a Florida-based renewable energy developer, entered into an agreement to acquire assets worth USD 1.1 billion for its Renewable Natural Gas (RNG) division. These assets are being purchased from the owners of Energy Power Partners Fund I and North American Sustainable Energy Fund, both managed by Energy Power Partners. It’s important to note that this acquisition is subject to closing adjustments and includes assuming approximately USD 37 million in existing project finance debt.

Furthermore, the growing demand for LFG in commercial and industrial sectors serves as another pivotal driver for the market’s revenue growth. LFG offers a cost-effective energy source for commercial and industrial operations, especially benefitting energy-intensive industries like manufacturing, where energy expenses constitute a significant portion of operational costs. The utilization of landfill gas empowers these sectors to enhance energy independence, thereby bolstering energy security and operational stability.

In addition, industrial facilities encounter notable energy challenges, but they can tap into various commercially proven technologies to find valuable solutions. One such opportunity lies in the direct utilization of LFG by industrial facilities. The Global Methane Initiative (GMI) stands ready to provide support in evaluating and developing LFG direct-use projects for industrial facilities, assisting them in making a positive impact on their energy needs.

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Scope of Research

Major Companies and Competitive Landscape

The global LFG market is consolidated, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the LFG market report are:

• Archaea Energy Inc.
• Covanta Holding Corporation
• Kohler Co.
• Pennon Group Plc
• Suez Group
• CenterPoint Energy
• Veolia
• Waga Energy
• WM Intellectual Property Holdings, L.L.C.

Strategic Development

• On 12 July, 2023, Waga Energy, a renowned global specialist in producing Renewable Natural Gas (RNG) from landfills partnered with Casella Waste Systems, Inc. (CWST), a regional company providing solid waste, recycling, and resource management services in the U.S. Through this partnership, the companies will develop RNG projects at three landfills owned by CWST.
• On 28 June, 2023, Montauk Renewables Inc., a producer of Renewable Natural Gas (RNG) in the U.S., announced its intention to construct an RNG LFG project in Orange County, California. The project will have a capacity of approximately 3.6 billion British thermal units (Btu) per day. This RNG site will complement an existing renewable electric generation facility nearby, which has a capacity of around 20 MW. The new RNG project will handle the additional biogas volumes that exceed the existing capacity of the power generation site. 

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Some Key Highlights From the Report

• The Methane (CH4) segment accounted for largest revenue share in the global LFG market in 2022. This is due to increasing awareness about environmental impact of methane emissions, government regulations mandating the capture and utilization of LFG, and availability of financial incentives for LFG projects. Methane, a powerful greenhouse gas, has approximately 25 times the heat-trapping capability of carbon dioxide, which is a significant component of LFG, comprising approximately 50% of its volume. Governments worldwide are implementing policies and regulations aimed at reducing greenhouse gas emissions, including methane, in their efforts to combat climate change.
• The electricity generation segment is expected to register steadily fast revenue growth rate in the global LFG market during the forecast period due to increasing adoption of waste gas for electricity generation in various regions. Electricity generation constitutes approximately 68% of active LFG energy projects in the U.S. Different technologies, such as reciprocating internal combustion engines, turbines, microturbines, and fuel cells, are used to generate electricity either for on-site consumption or for selling to the grid.
• The Asia Pacific market accounted for largest revenue share in the global LFG market in 2022. This is due to rapid urbanization and industrialization, increasing environmental concerns and efforts to mitigate climate change, government policies and incentives, technological advancements, evolving waste management practices, and rising fuel prices. Pollution levels in the Asia Pacific region have been on the rise, making it one of the largest contributors to global pollution levels.
• On 9 December, 2022, Green Rock Energy Partners, a private equity firm, successfully completed the purchase of PSA South Hills Landfill Gas Venture, a Renewable Natural Gas (RNG) production facility situated in Pennsylvania, U.S. This acquisition is a part of Green Rock’s strategy to invest in waste-to-value assets that generate energy. The South Hills facility, located in South Park Township, Pennsylvania, produces RNG by converting landfill biogas through upgrading processes. The resulting RNG will be marketed and sold as renewable compressed natural gas, primarily for use in the transportation sector.

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Emergen Research has segmented the global LFG market on the basis of composition, application, and region:

• Composition Outlook (Revenue, USD Billion; 2019-2032)

• • Methane (CH₄)
  • Carbon Dioxide (CO₂)
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Electricity generation
  • Heat generation
  • Biofuel production
  • Direct use in industrial processes

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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