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Global Small Scale LNG Market Expected to Inflate at CAGR 2.5% By 2023

Author: Market Research Report
by Market Research Report
Posted: Jun 25, 2018

Market Highlights:-

Small-scale LNG are altogether the LNG transportation from liquefaction terminal to regasification terminals through tankers, ship, and trucks. The need for small-scale LNG arises from increasing demand for LNG, increasing number for lesser capacity liquefaction terminals, and simpler storage facilities. These terminals have maximum capacity of 0.5 MMTPA. For instance, in Singapore the small-scale LNG terminal has capacity of only 11 MTPA. By the end of 2017, China had 4 small-scale LNG terminals, which can meet the demand of natural gas for small-scale projects. The advantage of small-scale LNG are adjustable annual delivery contracts, and minimum counterparty risks.

Natural gas is sustainable energy source. However, the source faces storage issues as the volume of natural gas is high. To solve this problem, natural gas is converted to liquid form at liquefaction terminals, for ease of transportation. At the destination of end use, the liquefied gas is again converted to gas at regasification terminals. Globally, the number of liquefaction & regasification terminals are increasing, given the increasing demand for energy fuel.

The growth of the small scale LNG market is majorly driven by increased demand for energy in the Asia-Pacific region. The government initiatives that focus on providing cleaner fuel, is driving the market, especially in countries such as India and China. The market is further driven by the growing adoption of LNG for heavy duty transportation purposes in the Europe and North American regions. However, the growth of this market can be restrained by the extensive investment required to construct LNG storage plants and fluctuation in global gas market prices.

Market Segmentations:-

Global small-scale LNG market has been segmented on the basis of mode of supply, type, application, and region. Based on type, the market is further segmented into liquefaction and regasification terminals. Liquefaction terminal segments holds larger market share due to increasing natural gas storage infrastructure. On the basis of mode of supply, global small-scale LNG market is classified as Trucks, Trans-shipment and Bunkering, Captive Consumption through Pipeline & Rail. The trans-shipment and Bunkering market is prominent in the market due to booming shipping industry. Based on applications, the market is segmented as utilities, residential, industrial & commercial, marine, and transportation.

Industry Major Key Players:-

The key players of global small scale LNG Markets are Honeywell International Inc. (U.S), General Electric (U.S), Wärtsilä Corporation (Finland), Skangas AS (Norway), Prometheus Energy (U.S), Excelerate Energy L.P (U.S) Public Joint Stock Company Gazprom (Russia), Engie SA(France), and The Linde Group (Germany), and IHI Corporation (Japan).

Scope of the Report

This study provides an overview of the global small scale LNG market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global small scale LNG market by its type, application, operational depth and regions.

Regional Analysis:-

The market is expected to grow in Asia Pacific region and Africa region due to increasing demand for natural gas as fuel for power and automobile industry. Besides, the regions are experiencing surge in projects of liquefaction and regasification terminal. For instance, Japan and South Korea are increasing their liquefaction capacity, thus, driving the market. Egypt has emerged as new importer for LNG while Mozambique has discovered a new gas field, which will make the nation a huge gas exporter. Europe region is likely to follow the small-scale LNG market after Asia Pacific and Africa regions. According to European Union policies, the nations are phasing out coal-based power plants, thus creating surge in demand for LNG.

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Author: Market Research Report

Market Research Report

Member since: Mar 19, 2018
Published articles: 85

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