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

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).

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.