Global Small-Scale LNG Market, By Type (Liquefaction Terminal, Regasification Terminal) By Application (Heavy-Duty Vehicles, Marine Transport, Industrial & Power) – Industry Trends and Forecast to 2024
The Global Small-Scale LNG Market accounted for USD 265.25 million tons per annum in 2016 and is projected to grow at a CAGR of 3.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Major Market Players in the Market:
- Chart Industries Inc.
- The Linde AG
- Air Products & Chemicals Inc.
- Siemens AG
- General Electric (GE Oil & Gas)
- Black & Veatch
- Plum Energy LLC
- BP P.L.C.
- Royal Dutch Shell plc
- Kunlun Energy Ltd
- Total S.A.
- China National Offshore Oil Corporation
- Engie SA
- Eni SpA
- Statoil ASA
The small-scale LNG market is segmented on the basis of type into liquefaction terminal and regasification terminal.
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On the basis of application, the market is segmented into heavy-duty vehicles, marine transport and industrial & power.
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On the basis of geography, the small-scale LNG market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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The small scale LNG market is specially targeted in the places where there is less production of LNG and does not require large LNG liquefaction plants. Growing demand for small scale LNG in heavy-duty vehicles, marine transport and industrial & power activities is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Energy cost advantage of LNG over alternate energy sources
- Environmental benefits
- Fiscal regime and subsidies by governments
- Market Restraint:
- High initial cost for LNG terminals
- Lack of pipeline Infrastructure in Asia-Pacific
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