- Liquefaction technologies, which convert gases into liquid form for easier storage and transportation, are becoming critical in the energy sector, particularly for natural gas, hydrogen, and other industrial gases
- The demand for liquefaction is fueled by the global push for cleaner energy alternatives, increasing energy security concerns, and the need for efficient supply chains in remote and urban areas
- Asia-Pacific dominated the liquefaction market with the largest revenue share of 42.5% in 2024, driven by rapid industrialization, high energy demand, and significant investments in energy infrastructure, particularly in countries such as China and India
- North America is expected to be the fastest-growing region during the forecast period, driven by technological innovations, increasing adoption of renewable energy sources, and strong government support for clean energy initiatives
- The bunkering/ship segment dominated the largest market revenue share of 45% in 2024, driven by the increasing adoption of LNG as a marine fuel to comply with stricter environmental regulations and reduce emissions from maritime transport
