USD 925.12 million
Report ID:
SQMIG55E2014 |
Region:
Global |
Published Date: February, 2024
Pages:
293
|Tables:
116
|Figures:
77
Small-Scale LNG Market size was valued at USD 967.86 Million in 2023 and is poised to grow from USD 1012.58 Million in 2024 to USD 1328.01 Million by 2032, growing at a CAGR of 4.62% during the forecast period (2025-2032).
The market expansion is being driven by the strict laws against climate change as well as growing concerns about cleaner and sustainable sources of energy. The world's finite supply of fossil fuels is another factor fueling market expansion. Increasing industrialization, increased household demand, and shift towards greener and cleaner fuels are all driving up demand for electricity production, which is fueling the market's expansion. However, the lack of terminal infrastructure as well as the high cost of the supply chain are expected to hinder market growth.
Limited scope L.N.G. is more environmentally friendly than oil and diesel and is frequently used to off-lattice power ageing demands in remote modern and private structures. Additionally, it is frequently used as a transportation fuel, as a mechanical feedstock, and for heating in industrial, commercial, and residential settings.
The global small-scale LNG market is anticipated to experience tremendous growth over the forecast period. The demand is expected to grow in the Asia-Pacific region and Africa due to the increasing interest in flammable gas as a fuel for the transportation sector. In addition, floods are occurring in the areas as liquefaction and regasification terminal works are ongoing. For instance, expanding their liquefaction limitations, Japan and South Korea are driving the market.
US Small-Scale LNG Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 925.12 million
Largest Segment
Liquefaction Terminal
Fastest Growth
Liquefaction Terminal
Growth Rate
4.62% CAGR
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Global Small-Scale LNG market is segmented on the basis of Type, Mode of Supply, Storage Tank Capacity, Application, End User, and region. By Type, the market is segmented into Liquefaction Terminal and Regasification Terminal. By Mode of Supply, the market is segmented into Trucks, Shipment and Bunkering, Rail Tanks, Pipeline, and Others. By Storage Tank Capacity, the market is segmented into Atmospheric, and Pressurized and Floating Storage (FSU). By Application, the market is segmented into Transportation, Heavy-Duty Vehicles, Industrial and Power, and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Small-Scale LNG Market Analysis by Type
According to type, it is predicted that the liquefaction segment will hold the largest market share over the forecast period. The expansion of this market is attributable to the rising export of LNG, which must first be liquefied before it can be moved between ports. Additionally, the rising demand for LNG is what is causing the expansion of liquefaction plants all over the world.
Small-Scale LNG Market Analysis by Application
The heavy-duty vehicle segment is expected to retain the largest market share in 2021, by application. The increased use of LNG as a fuel in heavy-duty vehicles, particularly in China and European nations, is blamed for the rise of this agent. The most practical option for long-distance LNG-haled trucks is LNG. The density of LNG can vary significantly internationally in heavy-duty vehicles over a variety of saturation pressures and shoe temperatures. The LNG vehicle fuel system increases fuel density in car tanks and filling stations while supplying natural gas to the engine at the needed supply pressure.
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North America dominated the global market in 2021. Attributable to the increased demand for fiber cement Small-Scale Liquefied Natural Gas (LNG) in the region. Due to growing LNG exports from the United States, Canada, and Mexico as a result of rising supply due to rising development plans by companies like Royal Dutch Shell Plc., ExxonMobil Corp., and Chevron Corp., North America was the second-largest regional market with a volume share of more than 20% in 2021.
In comparison, the Asia-Pacific region is anticipated to grow profitably between 2022 and 2030 due to the region's significant concentration of fiber cement Small-Scale Liquefied Natural Gas (LNG) market players. The demand in the region is further increased by the increasing requirement for the construction of houses and businesses. As the need for natural gas keeps rising in nations like China, India, Singapore, Japan, and others, there has been an increase in interest in the usage of small-scale LNG (SSLNG) in recent years.
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Small-Scale LNG Market Drivers
High demand for small-scale liquefied natural gas (LNG)
The market for small-scale liquefied natural gas (LNG) will continue to increase due to its rapid industrialization and high demand for natural gas as a transportation fuel. Additionally, the rise in market value will be driven by the drop in natural gas prices and the swings in crude oil prices driven on by excessive production.
Small-Scale LNG Market Restraints
Supply-Chain Disruptions
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Information on each company is provided in the competitive landscape for the small-scale liquefied natural gas (LNG) sector. The information includes information about the company's finances, revenue generated, market potential, R&D investments, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product introduction, range and breadth of products, and application domination. The companies' focus on the small-scale liquefied natural gas (LNG) market is the only informational nuggets mentioned above.
Small-Scale LNG Market Top Player’s Company Profiles
Wärtsilä
Gazprom
Chart Industries, Inc.
Honeywell International Inc.
Gasum Oy
Skangas AS
Total SE
Eni S.p.A.
Stabilis Energy
Novatek
Air Products and Chemicals, Inc.
China National Offshore Oil Corporation (CNOOC)
Petronas
Sempra Energy
Mitsubishi Corporation
ConocoPhillips Company
BP plc
Small-Scale LNG Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to global small-scale LNG market analysis, as liquefied natural gas (LNG) has complete combustion and generates fewer carbon emissions than previously used fuel sources, there has been a significant transition in recent years. Additionally, demand for greener and cleaner fuels is rising, and liquefied natural gas (LNG) is becoming more popular ship fuel than heavy fuel oil, marine gas oil, and diesel oil.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 967.86 Million |
Market size value in 2032 | USD 1328.01 Million |
Growth Rate | 4.62% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Small-Scale LNG Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Small-Scale LNG Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Small-Scale LNG Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Small-Scale LNG Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG55E2014
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