Global Small-Scale LNG Market is Expected to Grow with a CAGR of 13.4% in the Forecast Period of 2020 to 2027

 

Several different kinds of fuels are used in the production of the goods which releases toxic gases in the environment, impacting the climate and nature to the larger extent. The emission of the carbon content from the burning fuels is increasing the temperature and affecting the climate change which is causing an imbalance.       

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Global small-scale LNG market is expected to reach USD 11,781.86 million by 2027 from USD 4,776.77 million in 2019, with the CAGR of 13.4% in the forecast period of 2020 to 2027. The increasing demand for natural gases in industries due to rising population in the regions are leading to the depletion of the natural gas and plant equipped on the land are of no use. So, depleting of natural gas will be the restrain for the global small-scale LNG market.          

Small-Scale LNG Market

Increasing demand of natural gases in industrial, commercial & residential sector across the world will drive the market's growth rate

In the developing nation, the demands for the finished products used daily are increasing on a high rate. Several industries are engaged in manufacturing the finished goods from the raw material, which involves consuming the huge energy. There is an increasing demand of the natural gas in the production of electricity in the industry for manufacturing due to its cost efficiency. So, the demand for the small-scale LNG will increase in the regions which will help the growth of the global small-scale LNG market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2020 to 2027

Base Year

2019

Historic Years

2018 (Customizable to 2013 - 2018)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Liquefaction Terminal, Regasification Terminal), Mode of Supply (Trucks, Shipment and Bunkering, Rail Tanks, Pipeline,  Others), Storage tank Capacity (Atmospheric, Pressurized and Floating Storage (FSU)), Application (Transportation, Heavy-Duty Vehicles, Industrial and Power, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Wärtsilä (Finland), Linde plc (Germany), Gasum Ltd., (Norway), IHI Corporation (Japan), Excelerate Energy L.P (U.S), Prometheus Fuels (U.S), Cryostar (U.S.), General Electric (U.S.), Novatek (Russia), Engie (France), NYK Line (Japan), Mitsui O.S.K.Lines (Japan), Teekay Corporation (Bermuda), Hyundai Heavy Industries Co., Ltd., (South Korea), HANJIN HEAVY INDUSTRIES & CONSTRUCTION HOLDINGS CO., LTD. (South Korea) and Kawasaki Heavy Industries, Ltd., (Japan) among others.             

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis:

Global small-scale LNG market is segmented into four notable segments. On the basis of type, mode of supply, storage tank and application.

  • On the basis of type, the market is segmented into liquefaction terminal and regassification terminal. In 2020, liquefaction terminal is expected to dominate global small-scale LNG market with 75.46% market share as it reduces the volume by approximately 600 times, making it more economical to transport between continents in specially designed ocean vessels.
  • On the basis of mode of supply, the market is segmented into trucks, shipment & bunkering, rail tanks, pipeline, others. In 2020, trucks segment is expected to dominate global small-scale LNG market with 62.32% market share as they are the cheapest mode of transportation of natural and liquid gases.
  • On the basis of storage tank, the market is segmented into atmospheric, pressurized and floating storage (FSU). In 2020, atmospheric segment is expected to dominate the global small-scale LNG market with 68.51% market share as it reduces the cost of material and construction.

The atmospheric segment will dominate the storage tank segment of the small-scale LNG market

The atmospheric segment will emerge as the dominating segment under storage tank with approximately 68.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals industry all around the globe will further bolster the growth of this segment.

  • On the basis of application, the market is segmented into transportation, industrial and power, others. In 2020, transportation segment is expected to dominate the global small-scale LNG market with 71.00% market share as transportation through truck is more efficient and it also reduces the diesel and fuel cost on a wide range and protects environment from pollution.

The transportation segment will dominate the application segment of the small-scale LNG market

The transportation segment will emerge as the dominating segment application segment. This is because of the growing number of transportation services in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

Major Players  

Data Bridge Market Research recognizes the following companies as the market players in small-scale LNG market: Wärtsilä (Finland), Linde plc (Germany), Gasum Ltd., (Norway), IHI Corporation (Japan), Excelerate Energy L.P (U.S), Prometheus Fuels (U.S), Cryostar (U.S.), General Electric (U.S.), Hyundai Heavy Industries Co., Ltd., (South Korea), HANJIN HEAVY INDUSTRIES & CONSTRUCTION HOLDINGS CO., LTD. (South Korea) and Kawasaki Heavy Industries, Ltd., (Japan).

Small-Scale LNG Market

Market Development

  • According to Wipro Limited, a top global provider of information technology, consulting, and business process services, Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary Liqvis GmbH will implement a block chain-based small-scale liquefied natural gas (ssLNG) trading/fulfillment platform in August 2020. Uniper SE is a sizable international energy company with its corporate headquarters in Germany.
  • FGEN LNG, a division of First Gen Corporation, was looking into the LNG. development at The First Philippine Industrial Park in November 2020. (FPIP). Trucks and concentrated shielded compartments could supply FPIP with LNG at FGEN LNG's interim offshore LNG plant. The market's growth should be aided by this.

Regional Analysis

Geographically, the countries covered in the small-scale LNG market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in small-scale LNG market during the forecast period 2020 - 2027

Because of rising customer awareness, corporate expansion, and demand for small-scale LNG in regional transportation, Asia-Pacific currently holds a monopoly on the small-scale liquefied natural gas (LNG) industry.

North America is estimated to be the fastest growing region in small-scale LNG market the forecast period 2020 - 2027

On the other hand, North America is predicted to have profitable growth from 2022 to 2029 as a result of rising small-scale LNG consumption, the region's high concentration of natural gas production facilities, and the accessibility of its gas terminals.  

COVID-19 Impact

The current coronavirus outbreak significantly affected the small-scale liquefied natural gas (LNG) sector as a result of inventory network problems, decreased energy consumption, and diminishing interest in more recent innovations. However, working groups increasingly support small-scale L.N.G. pushes as the desire for large-scale L.N.G. plants to deliver profits to investors rises. The coronavirus has negatively impacted the worldwide economy as a result of the suspension of several tasks. Some of the primary sectors that use restricted scope L.N.G. are oil and gas, maritime, automotive, assembly, and force age. As a result of a decline in the popularity of power after COVID-19, organizations are currently grappling with various challenges in the force age sector.

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