Pune India, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Small-Scale Liquefied Natural Gas (LNG) market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Small-Scale Liquefied Natural Gas (LNG) market is present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as by type, mode of supply, storage tank capacity, and application. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the Small-Scale Liquefied Natural Gas (LNG) market are Gazprom, Engie, Honeywell International Inc., Wärtsilä, Linde plc, Gasum Ltd., IHI Corporation, Excelerate Energy L.P, Prometheus Fuels, Cryostar, General Electric, Novatek, Engie, NYK Line, Mitsui O.S.K.Lines, Teekay Corporation, Hyundai Heavy Industries Co., Ltd., Kawasaki Heavy Industries, Ltd., and among others. To achieve a substantial market share in the worldwide Small-Scale Liquefied Natural Gas (LNG) market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Gazprom, Engie, Honeywell International Inc., Wärtsilä, Linde plc, Gasum Ltd., IHI Corporation, Excelerate Energy L.P, Prometheus Fuels, Cryostar, General Electric, Novatek, Engie, NYK Line, Mitsui O.S.K.Lines, Teekay Corporation, Hyundai Heavy Industries Co., Ltd., Kawasaki Heavy Industries, Ltd., and among others.
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Scope of Small-Scale Liquefied Natural Gas (LNG) Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | By Type, By Mode of Supply, By Storage tank Capacity, By Application |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Gazprom, Engie, Honeywell International Inc., Wärtsilä, Linde plc, Gasum Ltd., IHI Corporation, Excelerate Energy L.P, Prometheus Fuels, Cryostar, General Electric, Novatek, Engie, NYK Line, Mitsui O.S.K.Lines, Teekay Corporation, Hyundai Heavy Industries Co., Ltd., Kawasaki Heavy Industries, Ltd., and among others. |
Segmentation Analysis
The liquefaction terminal segment is expected to be the fastest-growing segment in 2021.
The type segment includes the Liquefaction Terminal and Regasification Terminal. The liquefaction terminal segment is expected to witness the highest CAGR during the forecast period. The three firms with the highest small-scale LNG liquefaction capabilities globally throughout the forecast period are Fortress Investment Group, Gazprom, and Shaanxi Gas Group Co Ltd. By 2023, and these will have 4,240, 2,050, and 1,400 ktpa, respectively. By 2023, the proposed and announced facilities Browntown and Browntown II in the US are expected to have the largest small-scale LNG liquefaction capacities worldwide, each with 2,120 ktpa, followed by Portovaya in Russia with 1,500 ktpa.
The shipment and bunkering segment is expected to be the fastest-growing in 2021.
The mode of supply segment includes Trucks, Shipment and Bunkering, Rail Tanks, pipelines, and Others. The shipment and bunkering segment is expected to witness the highest growth rate during the forecast period. The most popular type of mode of supply is shipment and bunkering. Ships are mostly used in the transportation process, which increases this segment.
The transportation segment is expected to be the fastest-growing segment in 2021.
The application segment includes Transportation, Heavy-Duty Vehicles, Industrial and Power, and Others. The transportation segment is expected to witness the highest growth rate during the forecast period. Most often, small-scale liquefied natural gas is utilized for transportation. It is the most used fuel in ships, and as we know, ships are widely used for transportation stuff from one country to another.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Small-Scale Liquefied Natural Gas (LNG) include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- Asia- Pacific region witnessed a major share. The expansion of the Small-Scale Liquefied Natural Gas (LNG) Market in the region is mostly due to factors like the rise in transportation and the increased use of liquefied natural gas. Because of rising customer awareness, corporate expansion, and demand for small-scale LNG in regional transportation, The Asia Pacific region dominates the market due to the significant presence of fiber cement Small-Scale Liquefied Natural Gas (LNG) market players in the area. In addition, the region's need is increased by the high demand for the development of homes and businesses.
Country Analysis
- Germany
Germany's Small-Scale Liquefied Natural Gas (LNG) Market size was valued at USD 0.24 billion in 2021 and is expected to reach USD 0.67 billion by 2029, at a CAGR of 13.8% from 2022 to 2029.
Germany has one of the leading small scare liquefied gas in Europe. In addition, Germany's transportation sector is the country's most innovative industry sector, which boosts the demand for transportation for several kinds of stuff.
- China
China Small-Scale Liquefied Natural Gas (LNG) Market size was valued at USD 0.53 billion in 2021 and is expected to reach USD 1.65 billion by 2029, at a CAGR of 15.3% from 2022 to 2029. China's growing population and improved standard of living have boosted the demand for small-scale liquefied natural gas. One of the main factors contributing to China's growing liquefied natural gas use is its growing population, which also boosts demand for LNG.
- India
India's Small-Scale Liquefied Natural Gas (LNG) Market size was valued at USD 0.51 billion in 2021 and is expected to reach USD 1.54 billion by 2029, at a CAGR of 14.9% from 2022 to 2029. India is one of the strongest growing economies in Asia. The factors, including increasing population, increasing disposable income, and changing lifestyles, have driven the growth of the Indian Small-Scale Liquefied Natural Gas (LNG) Market. The need for liquefied natural gas to maintain the growth of the economy and market is driven by the region's expanding transportation market, fueling the market for small-scale liquefied natural gas.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the need for greener and cleaner fuels is rising, and liquefied natural gas (LNG) is becoming a more popular ship fuel than heavy fuel oil, marine gas oil, and diesel oil.
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