About Liquefied Natural Gas
Liquefied natural gas is defined as the liquid form of natural gas and it is composed of methane and other gases namely Ethane, Propane, Butane, Nitrogen, and others. It is a process in which natural gas is converted into liquefied natural gas by cooling it in a liquefaction plant that makes it additional efficient to transport. The boiling point of Liquefied natural gas is -162°C boiling point and density is range between from 430 kg/m3 & 470 kg/m3. It is also used in alternative fuels in various mode of transports namely rails, ships, trucks, and others. In additions, it is widely used in various industries such as manufacturing, mining, power generation sector, construction & dairy products, furnaces, fluid bed dryers, food processing, and rotary kilns.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.1% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global liquefied natural gas market can witness an upsurge in the forecast period. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Liquefied Natural Gas market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Anadarko Petroleum (United States), Chevron Corporation (United States), National Iranian Oil Company (Iran), Petronas (Malaysia), PJSC Rosneft Oil Company (Russia), Woodside Energy (Australia), Cheniere Energy (United States), Gazprom (Russia), INPEX Corporation (Japan) and Novatek (Russia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Liquefied Natural Gas market by Type (Liquefaction Terminal and Regasification Terminal) and Region.
On the basis of geography, the market of Liquefied Natural Gas has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User Industry, the sub-segment i.e. Heavy-Duty Vehicles will boost the Liquefied Natural Gas market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Materials Type, the sub-segment i.e. Methane will boost the Liquefied Natural Gas market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for LNG Bunkering and Evolving LNG Export
Market Growth Drivers:
Rising Energy Consumption and Growing Urban Population, Increasing Demand for Natural Gas Vehicles and Accelerating Economic Growth and Increasing Preference for LNG in Developing Economies
Challenges:
Issue Related to High Cost of Equipment
Restraints:
Problem Regarding approval of Liquefied Natural Gas
Opportunities:
Rising Demand from Emerging Economies Such as India, China, and Others and Increasing Liquefaction Capacity as well as Exports of Regional LNG Projects
Market Leaders and their expansionary development strategies
In February 2024, QatarEnergy and India's Petronet LNG (PLNG.NS), opens new tab signed their biggest single deal for supplies of liquefied natural gas (LNG) on Tuesday, as India ramps up use of the fuel in a bid to curb emissions. The deal will see Qatar supply 7.5 million metric tons per year of LNG to Petronet LNG on a delivered ex-ship basis (DES) from 2028 to 2048, according to a Petronet LNG statement.
In November 2023, Greenpeace has launched a campaign opposing the government’s plans to construct a new floating liquefied natural gas (LNG) terminal in the port Gdańsk. It argues the project will increase Poland’s dependence on external gas supplies, damage the climate, and threaten protected animal species.
In March 2019, according to Peter Altmaier (German politician), the regulatory changes will affect more cost burden on the transmission system operators in order to link LNG terminals.
Key Target Audience
Manufacturers of Liquefied Natural Gas, Suppliers of Liquefied Natural Gas, Wholesalers, Distributors, and Retailers of Liquefied Natural Gas, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.