Over the last few years, there has been a large shift toward liquefied natural gas over the traditionally used fuel sources because it has fewer carbon emissions and complete combustion. Moreover, the increasing consumer preference for cleaner and greener fuel sources and the growing usage of liquefied natural gas (LNG) as a ship fuel over heavy fuel, diesel, and marine gas will likely enhance the small-scale liquefied natural gas (LNG) market growth. Consequently, the market is anticipated to flourish during the forecast period.
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Data Bridge Market Research analyses a growth rate in the Global Small-Scale Liquefied Natural Gas (LNG) Market is expected to reach USD 14.13 billion by 2029 from USD 7.68 billion in 2021, growing with a substantial CAGR of 7.91% in the forecast period of 2022 to 2029. Easy establishment in small-scale reserve sites will likely increase the growth of the global small-scale liquefied natural gas (LNG) market.
Rising usage of natural gas in transportation is expected to drive the market's growth rate
Various automobile industries are rising the production of automobiles that operates on gas rather than the oil. As the fuel expense grows, it reduces the demand for the automobiles which run on fuel. Natural gas has a high octane rating, allowing the power of spark-ignition engines to surge. However, natural gas is a highly used liquid fuel than other fuels in the engine chamber because it increases the machine's life span. Natural gas is more demanded by passenger vehicles in the transportation sector because of the cost efficiency of natural gas. Therefore, increasing usage of natural gas in transportation is expected to drive the growth of the small-scale liquefied natural gas (LNG) market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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Gazprom (Russia), Engie (France), Honeywell International Inc. (US), Wärtsilä (Finland), Linde plc (Germany), Gasum Ltd., (Norway), IHI Corporation (Japan), Excelerate Energy LP (US), Prometheus Fuels (US), Cryostar (US), General Electric (US), 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)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, 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.
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Segment Analysis:
The small-scale liquefied natural gas (LNG) market is segmented on the basis of type, mode of supply, storage tank capacity, and application.
- On the basis of type, the market is segmented into liquefaction terminal and regassification terminal.
The liquefaction terminal segment of type segment is anticipated to dominate the small-scale liquefied natural gas (LNG) market
Liquefaction terminal is expected to dominate global small-scale LNG market with 75.46% market share because it decreases the volume by around 600 times which is making it more cost-effective to transport between continents.
- On the basis of mode of supply, the market is segmented into trucks, shipment & bunkering, rail tanks, pipeline, others. Trucks segment is expected to dominate global small-scale LNG market with 62.32% market share because they are the inexpensive mode of transportation of liquid and natural gases.
- On the basis of storage tank, the market is segmented into atmospheric, pressurized and floating storage (FSU). Atmospheric segment is expected to dominate the global small-scale LNG market with 68.51% market share because it decreases the overall cost of construction and material.
- On the basis of application, the market is segmented into transportation, industrial and power, others.
The transportation segment of application segment is anticipated to dominate the wearable conferencing technology market
Transportation segment is expected to dominate the global small-scale LNG market with 71.00% market share because transportation via truck is more effective and it also decreases the fuel and diesel cost on a extensive range.
Major Players
Data Bridge Market Research recognizes the following companies as the major small-scale liquefied natural gas (LNG) market players in small-scale liquefied natural gas (LNG) market Gazprom (Russia), Engie (France), Honeywell International Inc. (US), Wärtsilä (Finland), Linde plc (Germany), Gasum Ltd., (Norway), IHI Corporation (Japan), Excelerate Energy LP (US), Prometheus Fuels (US), Cryostar (US), General Electric (US), Novatek (Russia), Engie (France), NYK Line (Japan), Mitsui O.S.K.Lines (Japan), Teekay Corporation (Bermuda).
Market Development
- In 2020, according to Wipro Limited, a leading global consulting, information technology, and business process Services Company, Uniper Global Commodities SE and its subsidiary Liqvis GmbH implemented a blockchain-based small-scale liquefied natural gas trading platform. Uniper SE is headquartered in Germany, a significant multinational energy corporation.
- In 2020, The Initial Philippine Industrial Park's LNG development was being considered by FGEN LNG, a First Gen Corporation subsidiary (FPIP). FGEN LNG's Interim Offshore liquefied natural gas (LNG) terminal could feed FPIP with LNG through trucks and concentrated shielded compartments. This is expected to help tin the market's development.
Regional Analysis
Geographically, the countries covered in the small-scale liquefied natural gas (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 the 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 liquefied natural gas (LNG) market during the forecast period 2022 to 2029
Asia-Pacific dominates the small-scale liquefied natural gas (LNG) market because of increasing business expansion and awareness regarding small-scale liquefied natural gas (LNG) among consumers in this region. Furthermore, increasing demand of the small-scale LNG in transportation sector will further enhance the market growth in this region.
North America is estimated to be the fastest-growing region in small-scale liquefied natural gas (LNG) market the forecast period 2022 to 2029
North America is expected to grow during the forecast period of 2022 to 2029 because of the presence of large number of manufacturing units of the natural gas in this region. Additionally, high availability of the gases terminals in this region will further boost the market growth.
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