According to Stratistics MRC, the Global Liquefied Natural Gas (LNG) Market is accounted for $43.68 billion in 2020 and is expected to reach $80.85 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Rapid growth in pipeline infrastructures with favorable government regulations and increasing demand for natural gas (NG) from downstream industries are the major factors propelling the market growth. However, inadequate pipeline infrastructure in remote locations is hampering market growth.
Liquefied natural gas is natural gas it is in liquid form for easiness and protection of non-pressurized storage or transport. It takes up about 1/600th of the volume of natural gas in the gaseous state. Liquefied natural gas is colorless, odorless, non-toxic, and non-corrosive.
Based on the application, the transportation fuel segment is estimated to have a lucrative growth due to the growing use of liquefied natural gas as fuel in vehicles. The liquefied natural gas fuel vehicle system carries natural gas (NG) to the engine at a necessary supply pressure while maximizing the fuel density of the fueling and tanks stations.
By geography, the Asia Pacific holds the largest share in the market. India is expected to remain an attractive location for exporters and manufacturers due to the upsurge in infrastructure development. Moreover, the projects have faced planning pressure and considerable cost, making them a challenge for the operators and developers due to the drastic decrease in LNG prices.
Some of the key players profiled in the Liquefied Natural Gas (LNG) Market include BP, Cheniere Energy, Chevron Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation, ConocoPhillips Company, Eni SpA, Equinor ASA, Exxon Mobil Corporation, Gazprom, PetroChina Company Limited, Petroliam Nasional Berhad (PETRONAS), Petronet LNG Limited, Qatar Petroleum, Royal Dutch Shell, Sinopec Group, Snam SPA, Total, and Woodside Petroleum.
- Atmospheric Pressure Chemical Ionization (APCI) Liquefaction Technology
- Cascade Liquefaction Technology
- Power Generation
- Transportation Fuel
- Mining and Industrial
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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- Regional Segmentation
- ·Market estimations, Forecasts and CAGR of any prominent country as per the client’s interest (Note: Depends on feasibility check)
- Competitive Benchmarking
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