What is the global market size of Small-Scale LNG Market?

Global Small-Scale LNG Market size was valued at USD 925.12 million in 2021 and is poised to grow from USD 967.86 million in 2022 to USD 1269.37 million by 2030, growing at a CAGR of 4.62% in the forecast period (2023-2030).

Small-Scale LNG Market Size, Share, Growth Analysis, By Type(Liquefaction Terminal and Regasification Terminal), By Mode of Supply(Trucks, Shipment and Bunkering, Rail Tanks, Pipeline), By Storage Tank Capacity(Atmospheric and Pressurized and Floating Storage (FSU)), By Application(Transportation, Heavy-Duty Vehicles, Industrial and Power, and Others), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Small-Scale LNG Market?

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.

Report ID: SQMIG55E2014 | Region: Global | Published Date: February, 2024
Pages: 293 | Tables: 116 | Figures: 77

Small-Scale LNG Market Dynamics

Small-Scale LNG Market Drivers

High demand for small-scale liquefied natural gas (LNG)

The growing demands for energy-efficient and affordable energy sources is one of the main factors driving the market growth. Additionally, the product is well-liked by the transport industry, which is promoting market growth. Rising energy demand has increased the need for liquefied natural gas (LNG), which has resulted in an increase in LNG output (LNG). The government's efforts to boost rural electrification have increased demand for liquefied natural gas, and numerous remote areas currently without electricity (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

The expansion of the small-scale liquefied natural gas (LNG) business will be hampered by the pricey supply chain. Additionally, the market would suffer from the high per-KG operating costs compared to mid-size LNG and large-size LNG.

Small-Scale LNG Market Report Snapshots

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Small-Scale LNG Market size was valued at USD 925.12 million in 2019 and is poised to grow from USD 967.86 million in 2023 to USD 1269.37 million by 2031, growing at a CAGR of 4.62% in the forecast period (2024-2031).

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, 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. 'Engie', 'Linde plc', ' Wärtsilä ', ' Gazprom ', ' Royal Dutch Shell plc ', ' 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 '

The growing demands for energy-efficient and affordable energy sources is one of the main factors driving the market growth. Additionally, the product is well-liked by the transport industry, which is promoting market growth. Rising energy demand has increased the need for liquefied natural gas (LNG), which has resulted in an increase in LNG output (LNG). The government's efforts to boost rural electrification have increased demand for liquefied natural gas, and numerous remote areas currently without electricity (LNG).

Presently, one of the main factors positively influencing the market is the rising demand for small-scale LNG for heating purposes in the commercial, residential, and industrial sectors. The market grows as a result of the increasing usage of small-scale LNG as a fuel for a wide range of large commercial vehicles, including multi-axle rigid and haulage trucks, tractors, and trailers used for lengthy distribution and the transportation of bulk cargo. In addition, the market is expanding as a result of people using more energy-efficient and affordable energy sources as a result of a increase in environmental awareness. Additionally, to limit the emission of vehicle exhausts and the detrimental effects of air pollution on human health, regulatory bodies of various nations are promoting the use of sustainable clean fuel. Additionally, the market is expanding due to the growing use of small-scale LNG as a substitute for marine gas oil and diesel in ships.

North America dominated the 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.

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Small-Scale LNG Market Dynamics

Small-Scale LNG Market Report Snapshots

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