Liquefied Natural Gas (LNG) Market Forecasts to 2028 – Global Analysis By Product (Atmospheric Pressure Chemical Ionization (APCI), Cascade Liquefaction Technology), Application (Power Generation, Mining) and By Geography
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
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
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