Landfill Gas Market Is Expected to Grow at an 8.3% Cagr

According to a report by Fact.MR, the global landfill gas market was valued at US$ 1.5 billion in 2020 and is expected to reach US$ 2.5 billion by 2031, with a CAGR of 5.2% during the forecast period (2021-2031). The market growth can be attributed to the increasing demand for renewable energy and the growing need to reduce greenhouse gas emissions.

The report suggests that the electricity generation segment dominated the market in 2020 and is expected to continue to hold a significant market share during the forecast period due to the high demand for electricity from renewable sources. Regionally, North America is expected to hold the largest market share due to the increasing adoption of landfill gas as a source of renewable energy and the growing awareness of the benefits of reducing greenhouse gas emissions.

The report also highlights some of the key players operating in the global landfill gas market, including Waste Management, Inc., Republic Services, Inc., Veolia Environment S.A., SUEZ SA, BP plc, Royal Dutch Shell plc, ENGIE SA, Clean Energy Fuels Corp., Gazasia Ltd., and Terragon Environmental Technologies Inc. These companies are focusing on partnerships, collaborations, and mergers and acquisitions to expand their market presence and improve their product offerings.

Furthermore, the report suggests that the COVID-19 pandemic has had a mixed impact on the landfill gas market. While the closure of industrial and commercial activities has led to a decline in the production of landfill gas, the growth in demand for renewable energy and the increasing focus on reducing greenhouse gas emissions have led to an increase in demand for landfill gas as a source of renewable energy. This trend is expected to continue during the forecast period, driving the growth of the global landfill gas market.

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