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Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • May 2022
  • Asia-Pacific
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Chemical and Materials
  • Upcoming Report
  • May 2022
  • Asia-Pacific
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market, By 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) – Industry Trends and Forecast to 2029

Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market

Market Analysis and Size

Over the recent years, there has been a massive shift toward liquefied natural gas (LNG) over the traditionally used fuel sources as it has complete combustion and fewer carbon emissions. Furthermore, the expanding consumer preference for greener and cleaner fuel sources and the increasing use of liquefied natural gas (LNG) as a ship fuel over heavy fuel oil, marine gas oil, and diesel oil are driving expansion. Consequently, the market is anticipated to flourish over forecast period.

Asia-Pacific Small scale liquefied natural gas (LNG) Market was valued at USD 4427.562 million in 2021 and is expected to reach USD 12898.36 million by 2029, registering a CAGR of 14.30% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Small-scale liquefied natural gas (LNG) refers to liquefied natural gas that is processed in industrial units with limited capacity. The gas is transformed into an odorless and colorless liquid that can be re-gasified for numerous uses after being cooled to extremely low temperatures. Small-scale LNG is more environmentally benign than oil and diesel, and it is commonly used to meet off-grid power generation needs in isolated industrial and residential complexes. In addition, it is widely employed in the industrial, commercial, and residential sectors as a transportation fuel, an industrial feedstock, and for heating.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

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

Segments Covered

By 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

Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific

Market Players Covered

Gazprom (Russia), Engie (France), Honeywell International Inc. (U.S.), 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)

Market Opportunities

  • Easy establishment in small-scale reserve sites
  • The implementation of favorable government policies
  • Integration of new technology

Small Scale Liquefied Natural Gas (LNG) Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High Demand For Small-Scale Liquefied Natural Gas (LNG)

One of the primary reasons driving the market's growth is the growing demand for energy-efficient and cost-effective energy sources. Furthermore, the transportation industry's broad acceptance of the product is boosting market growth. The rising demand for energy has increased the need for liquefied natural gas (LNG), resulting in increased LNG output (LNG). Furthermore, numerous remote areas are without electricity, and government measures to improve rural electrification have increased demand for liquefied natural gas (LNG).

The rapid industrialization and high demand for natural gas as a transportation fuel will further prop the growth rate of small-scale liquefied natural gas (LNG) market. Liquefied natural gas (LNG) is also used for cooking and heating, and the development potential for the small-scale liquefied natural gas (LNG) market is predicted to increase throughout the projection period due to rising population. In addition to this, the reduction in the prices of natural gas and fluctuation in the prices of crude oil caused by excessive production of crude oil will also drive market value growth.

 Opportunities

  • Integration of Technologies and Government Policies

Furthermore, the integration of new technology and the increasing investments and the implementation of favorable government policies promoting the adoption of liquefied natural gas (LNG) extend profitable opportunities to the market players in the forecast period of 2022 2029. Additionally, the easy establishment in small-scale reserve sites will further expand the future growth of the small-scale liquefied natural gas (LNG) market.

 Restraints/Challenges

  • Issues Associated with Price and Funding

The liquefied natural gas (LNG) supplies to a growing number of small purchasers, who are concerned about calculating netbacks that are sufficient to either justify the turn of events and liquefaction of their flammable gas reserves or the higher costs of setting up and operating a center and communication network. When it comes to establishing liquefaction offices, providers are concerned about securing long-term agreements with dependable clients that will enable them obtain sufficient funding.

  • Drawbacks of Natural Resources

Moreover, depleting natural resources are also expected to hamper growth of the global small-scale liquefied natural gas (LNG) market, which will challenge the small scale liquefied natural gas (LNG) market growth rate.

This small scale liquefied natural gas (LNG) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the small scale liquefied natural gas (LNG) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Small Scale Liquefied Natural Gas (LNG) Market

The recent outbreak of coronavirus had a significant impact on the small-scale liquefied natural gas (LNG) market due to disruptions in the inventory network, lower energy use, and waning interest in more recent breakthroughs. However, as the demand for large-scale L.N.G. plants to provide returns to investors grows, the working organizations are increasingly supporting small-scale L.N.G. pushes. Coronavirus has had the opposite effect on the global economy, as various duties have come to a standstill. Oil and gas, maritime, auto, assembly, and force age are some of the major industries that use limited scope L.N.G. Organizations are dealing with some issues in the force age area as a result of a drop in the popularity of power post-COVID-19. Furthermore, enterprises such as development and assembly have completely ceased operations, which has had a global impact on the restricted scale L.N.G. industry.

Recent Development

  • In August 2020, Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary Liqvis GmbH implemented a block chain-based small-scale liquefied natural gas (ssLNG) trading/fulfillment platform, according to Wipro Limited, a leading global information technology, consulting, and business process services company. Uniper SE, headquartered in Germany, is a significant multinational energy corporation.
  • In November 2020, The First Philippine Industrial Park's L.N.G. development was being investigated by FGEN LNG, a subsidiary of First Gen Corporation (FPIP). FGEN LNG's Interim Offshore L.N.G. terminal could feed FPIP with L.N.G. via trucks and concentrated shielded compartments. This is projected to aid the market's development.

 Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market Scope

The small scale liquefied natural gas (LNG) market is segmented on the basis of type, mode of supply, storage tank capacity and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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

Small Scale Liquefied Natural Gas (LNG) Market Regional Analysis/Insights

The small scale liquefied natural gas (LNG) market is analyzed and market size insights and trends are provided by country, type, mode of supply, storage tank capacity and application as referenced above.

The countries covered in the small scale liquefied natural gas (LNG) market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).

In Asia-Pacific, China and Japan dominate the market due to rising consumer awareness of the benefits of using clean, affordable natural gas, and liquefied natural gas (LNG) gas is widely used in transportation because it lowers fuel costs, boosting demand for small-scale liquefied natural gas (LNG) in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Small Scale Liquefied Natural Gas (LNG) Market Share Analysis

The small scale liquefied natural gas (LNG) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to small scale liquefied natural gas (LNG) market.

Some of the major players operating in the small scale liquefied natural gas (LNG) market are

  • Gazprom (Russia)
  • Engie (France)
  • Honeywell International Inc. (U.S.)
  • 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)
  • Kawasaki Heavy Industries, Ltd., (Japan)


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Frequently Asked Questions

The Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market is expected to show a value of USD 12898.36 million by 2029.
The Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market is estimated to register a CAGR of 14.30% within the forecast period.
On the basis of application, the Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market is segmented into Transportation, Heavy-Duty Vehicles, Industrial and Power, Others.
The major players operating in the Asia-Pacific Small Scale Liquefied Natural Gas (LNG) Market are Gazprom (Russia), Engie (France), Honeywell International Inc. (U.S.), 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).