The Liquefied natural gas by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Liquefied natural gas, The liquefied natural gas market size has grown strongly in recent years. It will grow from $132.78 billion in 2023 to $144.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to global energy demand, geopolitical factors, environmental regulations, infrastructure development, price dynamics
The liquefied natural gas market size is expected to see strong growth in the next few years. It will grow to $192.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to policy and regulatory landscape, infrastructure expansion, price competitiveness, evolving environmental considerations, geopolitical developments. Major trends in the forecast period include
The rising demand for liquefied natural gas is projected to expand the growth of the liquefied natural gas market going forward. Liquefied natural gas is produced by purifying natural gas and transforming it to -260°F. It is natural gas that has gone through cooling to become liquid. The rising demand for growing motor petrol use, and increasing big semi-urban and rural population will boost the demand for liquefied natural gas market growth. For instance, in July 2022, according to Energy Information Administration, a US-based government agency, during 2021, an average of 49.0 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) was traded globally. Therefore, the rising demand for liquefied natural gas is driving the growth of the liquefied natural gas market going forward.
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The liquefied natural gas market covered in this report is segmented –
1) By Type: APCI Liquefaction Technology, Cascade Liquefaction Technology, Other Liquefaction Technology
2) By Application: Power Generation, Transporation Fuel, Other Applications
Technological advancements are a key trend gaining popularity in the liquefied natural gas market. Companies operating in the liquefied Natural gas market are adopting new technologies to sustain their position in the market. For instance, in February 2023, New Fortress Energy Inc., a US-based energy infrastructure company, adopted Honeywell UOP technology to eliminate contaminants from natural gas. Honeywell UOP is the provider of gas processing technology. Its pollutant removal and hydrocarbon management technologies are employed in the production of about 40% of the world’s liquefied natural gas.
The liquefied natural gas market report table of contents includes:
1. Executive Summary
2. Liquefied natural gas Market Characteristics
3. Liquefied natural gas Market Trends And Strategies
4. Liquefied natural gas Market – Macro Economic Scenario
5. Global Liquefied natural gas Market Size and Growth
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26. South America Liquefied natural gas Market
27. Brazil Liquefied natural gas Market
28. Middle East Liquefied natural gas Market
29. Africa Liquefied natural gas Market
30. Liquefied natural gas Market Competitive Landscape And Company Profiles
Top Major Players:
- General Electric Company
- Oledcomm SA
- Renesas Electronics Corporation
- PureLiFi Ltd
- Lvx System GmbH
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