Global Small-Scale LNG market share 2024, Forecast To 2033
4 Mar, 2024
The small-scale LNG market size has witnessed strong growth, increasing from$17.35 billion in 2023 to$18.94 billion in 2024, with a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to energy demand diversification, environmental regulations, natural gas abundance, remote area energy solutions, and transportation fuel transition. Looking ahead, the small-scale LNG market is expected to see strong growth, reaching$25.99 billion in 2028, with a compound annual growth rate (CAGR) of 8.2%. This growth in the forecast period can be attributed to public perception and acceptance, flexibility and scalability, competitive pricing, global energy trade shifts, diversification in industrial use, and rising energy demand. Major trends in the forecast period include energy transition focus, environmental awareness, natural gas availability, remote area energy solutions, and transportation industry shift.
Global Small-Scale LNG Market Key Driver
The increasing preference for greener and cleaner fuel sources is expected to drive the growth of the small-scale LNG market. With a heightened focus on environmental sustainability and the depletion of natural resources, there is a growing inclination towards cleaner fuel alternatives. Small-scale LNG emerges as a promising solution, emitting significantly lower levels of CO2 compared to coal and oil while also minimizing the production of soot, dust, and particulates. According to the International Energy Agency (IEA), global demand for biofuels is projected to witness substantial growth, highlighting the trajectory towards greener fuel options. Consequently, the rising preference for greener fuels is poised to drive the growth of the small-scale LNG market.
Get A Free Sample Of The Global Small-Scale LNG Market ReportGlobal Small-Scale LNG Market Segments
The global small-scale lng market covered in this report is segmented –
1) By Type: Liquefaction, Regasification
2) By Mode Of Supply: Truck, Rail, Transhipment And Bunkering, Captive Consumption Through Pipeline
3) By Application: Industrial, Transportation, Utilities, Marine
By Geography: The regions covered in the small-scale lng market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the small-scale LNG market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the small-scale lng market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Small-Scale LNG Industry Players
Linde PLC, Wärtsilä Oyj Abp, Honeywell International Inc., General Electric Company, Engie SA, SOFREGAZ SAS, Plum Energy LLC, Excelerate Energy Inc., Cryostar SAS, IHI Corporation, PAO NOVATEK, Gasum Ltd., Siemens Energy AG, Chart Industries Inc., Air Products & Chemicals Inc., PJSC Gazprom, Prometheus Energy s.r.o., TotalEnergies SE, Shell PLC, Black & Veatch Holding Company, Anthony Veder Group NV, Eni SpA, Baker Hughes Company, Evergas AS, Stabilis Solutions Inc., Chevron Corporation, Emerson Electric Co., ABB limited, Halliburton Company, Schlumberger NV
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Small-Scale LNG Market Overview
Small-scale LNG (SS LNG) is a collection of logistics activities used to handle small and medium amounts of liquefied natural gas (LNG). SSLNG logistics is primarily used to supply LNG and Bio-LNG to heavy road, maritime, and rail transportation sectors.
Small-Scale LNG Global Market Report 2023 provides data on the global small-scale lng market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The small-scale lng market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.