Liquefied Natural Gas Market Size & Share Report, 2030

According to Business Intelligence Insights "Global Liquified Natural Gas Market " market size was valued at USD 109.48 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2030.

Regional Analysis:

The Asia Pacific region accounted for the largest revenue share of 80.11% in 2021. Japan accounted for the largest country-level demand and is projected to register a significant growth rate during the forecast period. China is projected to register the highest growth rate in the Asia Pacific in the coming years. Energy mix gas accounts for only 4%–5% of prime energy consumption across the country, letting ample space for development. Robust economic growth across the country is also leading to higher consumption of gas-based power facilities with an enhanced application scope for the market.

Segmentation Insights:

Application Insights

Based on the application, the market is segregated as a transportation fuel, power generation, and others. The power generation application segment accounted for the largest value share of 47.44% in 2021. Growing demand for natural gas also helps in reducing the emission of harmful greenhouse gas emissions. Increased usage of this fuel in the mining, industrial and power generation sectors has displayed a significant change over the historic period. A decline in the prices, as well as low fuel switching costs, are enhancing the industry growth in the transportation and power generation application.

Application Outlook (Revenue, USD Million, Volume, Million Tons, 2019 - 2030)

• Transportation Fuel
• Power Generation
• Others

Application Insights as a transportation fuel

Based on the application, the market is segregated as a transportation fuel, power generation, and others. The power generation application segment accounted for the largest value share of 47.44% in 2021. Growing demand for natural gas also helps in reducing the emission of harmful greenhouse gas emissions. Increased usage of this fuel in the mining, industrial and power generation sectors has displayed a significant change over the historic period. A decline in the prices, as well as low fuel switching costs, are enhancing the industry growth in the transportation and power generation application.

Top Key Players Analysis:

• British Petroleum (BP) p.l.c.
• Chevron Corporation
• China Petroleum & Chemical Corporation
• Eni SpA
• Equinor ASA
• Exxon Mobil Corporation
• Gazprom Energy
• PetroChina Company Limited
• Royal Dutch Shell PLC
• Total S.A.

Read our strategic analysis: https://www.grandviewresearch.com/industry-analysis/liquefied-natural-gas-lng-market

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