Small Scale LNG Market to Hit USD 98.11 Bn by 2030 at a growth rate of 5 11.25% over 2024-2030 Says Maximize Market Research
Pune, 06 May, 2024: Maximize Market Research, an Energy business research firm has published a report on the “Small Scale LNG Market”. The total market opportunity for Small Scale LNG Market was USD 46.52Bn in 2023 and is expected to grow at 11.25 percent CAGR through the forecast period by reaching nearly USD 98.11 Bn.
Small Scale LNG Market Report Scope and Research Methodology
Market Size in 2023 USD 46.52 Bn.
Market Size in 2030 USD 98.11 Bn.
CAGR 11.25% (2024-2030)
Forecast Period 2024-2030
Base Year 2023
Number of Pages 278
No. of Tables 120
No. of Charts and Figures 115
Segment Covered Type, Mode of supply, and Applications
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
The MMR report provides an in-depth analysis of the strategies of the top players in the Small Scale LNG industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities and challenges is provided region-wide and segment-wise, in the Small Scale LNG Market report. It also includes figures for import/export consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor’s guide.
The data for the Small Scale LNG Market report was collected using primary and secondary research methods, which were combined to make the MMR report authentic. The primary research conducted includes the questionnaire distribution, surveys and phone interviews with Small Scale LNG industry experts, market leaders, marketing professionals and entrepreneurs. The bottom-up approach has been used to estimate the global and regional Small Scale LNG market size. SWOT analysis was used to provide the strengths and weaknesses of Small Scale LNG key players in the industry.
Small Scale LNG Market Overview
The Small Scale LNG Market encompasses the production, distribution, and consumption of liquefied natural gas (LNG) on a smaller scale compared to traditional large-scale LNG infrastructure. This market segment caters to niche markets, remote areas, and specific applications, offering flexibility, scalability, and cost-effectiveness. Key components include liquefaction plants, regasification terminals, storage units, and distribution networks. Growth in the Small Scale LNG Market is driven by increasing demand for cleaner energy sources, advancements in technology, supportive government policies, and the need for energy security. Applications range from heavy-duty vehicles and marine transport to industrial and power generation, residential heating, and off-grid solutions.
Small Scale LNG Market Dynamics
The demand for small-scale LNG is driven by several factors, including the need for cleaner energy sources, the transition away from more carbon-intensive fuels, and the rising demand for LNG in niche markets and remote areas. As industries seek to reduce emissions and improve environmental sustainability, the demand for small-scale LNG for applications such as heavy-duty vehicles, marine transport, and off-grid power generation continues to grow.
Government policies, regulations, and incentives have a substantial impact on the Small Scale LNG Market. Supportive policies that promote LNG usage, encourage investment in LNG infrastructure, and provide incentives for cleaner energy sources drive market growth. Conversely, regulatory barriers and uncertainties can hinder market development and investment in small-scale LNG projects.
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Small Scale LNG Market Regional Insights
The Asia Pacific Small Scale LNG Market is expected to hold the largest share of the global market during the forecast period. Investments in LNG infrastructure, including liquefaction plants, regasification terminals, and distribution networks, are increasing across the Asia Pacific region. Countries are expanding their LNG import capacity to diversify energy sources and enhance energy security.
During the forecast period, North America Small Scale LNG Market is expected to experience the most rapid growth. This accelerated growth can be attributed to various factors, including the abundant shale gas reserves in the United States and heightened government emphasis on diversifying the nation’s energy sources towards renewable options. Regions such as Alberta, New Brunswick, British Columbia, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia boast substantial shale gas deposits, contributing to the region’s significant demand for LNG.
Small Scale LNG Market Segmentation
By Type
- Liquification
- Regasification
By Applications
- Heavy duty vehicles
- Marine Transport
- Industrial & Power
- Other Applications
By Mode of supply
- Trucks
- Trans-shipment & Bunkering
- Others
Based on Mode of supply, the Trucks segment held the largest Small Scale LNG market share and is expected to grow at a high rate during the forecast period. This dominance can be attributed to several pivotal factors. Primarily, the escalating demand for cleaner and sustainable fuel alternatives in the transportation sector has spurred the uptake of LNG as a viable option for long-haul trucking. LNG presents notable environmental benefits compared to conventional fuels, including reduced emissions of greenhouse gases and pollutants. Furthermore, the versatility and mobility of trucks make them ideally suited for transporting LNG to diverse locations, including remote areas with limited pipeline infrastructure.
Small Scale LNG Key Competitors include:
- Linde plc (US)
- Wartsila Corporation (Finland)
- Honeywell International Inc. (US)
- Shell plc (UK)
- Air Products & Chemicals, Inc. (US)
- ENGIE S.A (France)
- Chart Industries, Inc. (US)
- Gasum oy (Finland)
- Sofregaz (France)
- Excelerate Energy Inc (US)
- Cryostar (France)
- Skangas (Norway)
- Gaztransport & Technigaz S.A. (France)
- GTT (France)
- Blueknight Energy Partners, L.P. (US)
- Crowley Maritime Corporation (US)
- Gasnor AS (Norway)
- Harvey Gulf International Marine LLC (US)
- Pivotal LNG (US)
- Plum Energy LLC (US)
- Skangass AS (Norway)
- Norgas Carriers (Norway)
- Teekay LNG Partners L.P. (Bermuda)
- Stabilis Energy, Inc. (US)
- Eagle LNG Partners (US)
Key questions answered in the Small Scale LNG Market report are:
- What is Small Scale LNG?
- Which market segment held the largest share of the global Small Scale LNG market in 2023?
- What are the global trends in the Small Scale LNG Market?
- What are the upcoming industry applications and trends for the Small Scale LNG Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Small Scale LNG Market?
- What growth strategies are the players considering to increase their presence in Small Scale LNG Market?
- Who are the leading companies and what are their portfolios in Small Scale LNG Market?
- What are the major challenges that the Small Scale LNG Market could face in the future?
- Which region held the largest Small Scale LNG Market Share in 2023?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2030
- Small Scale LNG Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Small Scale LNG Market Segmentation – A detailed analysis by Type, Application, Mode of supply and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Energy research firm, has also published the following reports:
LNG Market size was valued at US$ 418.88 Mn. in 2022 and Power Generation is one of the dominating segments reviewed in MMR report is dominating Global LNG Market. LNG demand was still rising, with trade reaching 360 million tonnes in 2022.
LNG Filling Stations Market was valued at US$ 2.14 Bn. in 2022. The Global LNG Filling Stations Market size is estimated to grow at a CAGR of 3.9 % over the forecast period. Increasing concerns about environmental protection are increasing the demand for clean-fuel vehicles fuelled by natural gas.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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