This report was recently updated on November 15 2024 with the latest and most recent
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Global Small-Scale LNG Market Size, Trends, Analysis - Forecasts to 2026 By Type (Liquefaction, Regasification), By Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); End User Landscape, Vendor Landscape, Company Market Share Analysis & Competitor Analysis
Small-Scale LNG Market Insights
The global small-scale LNG market is estimated to witness a high CAGR during the forecast period (2020-2026). The gas is cooled at -1600C to convert it into an odorless, colorless liquid, that can be again re-gasified at end use destination. The strict regulations against climate change along with rising concern relating to cleaner and sustainable source of energy are driving the market growth for small scale LNG. The depleting fossil resources across the globe is also driving the market growth. Growing demand for electricity production due to increasing industrialization, rising household requirement, and increase in inclination towards greener and cleaner fuel is also propelling the market growth. However, the high cost of the supply chain, less number of terminal infrastructures are likely to hamper the market growth.
Small-Scale LNG Market Size: By Type
On the basis of type, the market is segmented into liquefaction, and regasification. The liquefaction segment is estimated to hold the largest market share during the forecast period. The increase in demand for LNG, and requirement of liquefaction before it can be transported from one port to another due to the rising export of LNG drives the market growth.
Small-Scale LNG Market Size: By Application
On the basis of application, the market is segmented into Heavy-Duty Vehicles, Industrial & Power, and Marine Transport. Heavy-duty vehicles segment is expected to account for the largest market share during the forecast period. The increasing use of LNG as fuel in heavy-duty vehicles, especially in China and European countries drives the growth of the market.
Small-Scale LNG Market Size: By Region
Asia Pacific is anticipated to dominate the market during the forecast period owing to its increasing usage in various end-use applications, such as heavy-duty vehicles and industrial & power. The growing population, rise in disposable income, and economic growth in China, South Korea, and Taiwan has also accelerated the growth of the market. Europe is also projected to witness a robust growth owing to the increasing adoption of coal-based power plants in the region.
Small-Scale LNG Market Share & Competitor Analysis
The key vendors operating in the small-scale LNG market include: The Linde Group (Germany), Wartsila Corporation (Finland), Honeywell International Inc. (US), General Electric (US), Guanghui Energy, Gasnor, Kunlun Energy, Xilan Natural Gas, Shaanxi Yanchang Petroleum, Skangas, Hanas, Yuanhe, ng Energy, China National Coal Group, Hebei Huaqi Natural Gas, Statoil, Nippon Gas, Engie, PetroChina, Linde, and CNOOC among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Check the Press Release on Global Small-Scale LNG Market Report
Small-Scale LNG Market: By Type
Small-Scale LNG Market: By Application
Small-Scale LNG Market: By Region
The global Small-Scale LNG Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Small-Scale LNG Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
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