Small-Scale LNG Market is projected to reach $2.6 Billion by 2025 according to demand forecasts

September 02 16:36 2020
Small-Scale LNG Market is projected to reach $2.6 Billion by 2025 according to demand forecasts

Browse 115 market data Tables and 40 Figures spread through 134 Pages and in-depth TOC on “Small-Scale LNG Market”
Small-Scale LNG Market by Type (Liquefaction, Regasification), Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport), Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)

The global small-scale LNG market size is estimated to be USD 2.3 billion in 2020 and is projected to reach USD 2.6 billion by 2025, at a CAGR of 2.6%. The major factors driving the market include energy cost advantage of LNG, environmental benefits, and growing demand from various applications such as heavy-duty vehicles, industrial & power, and marine transport.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226707057

Liquefaction to dominate the global small-scale LNG market

The small-scale LNG industry has been segmented based on type as liquefaction and regasification. The liquefaction segment accounted for the larger share of the market in 2019. The growth in this segment is attributed to the increasing export of LNG, which requires liquefaction before it can be transported from one port to another. The growing number of liquefaction terminals across the globe is likely to increase due to the increasing demand for LNG. These factors are expected to drive the demand for small-scale LNG during the forecast period.

Heavy-duty vehicles segment to lead the global small-scale LNG market 

The market has been segmented based on application into heavy-duty vehicles, marine transport, industrial & power, and others. The heavy-duty vehicles segment accounted for the largest share of the market in 2019 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to the increasing use of LNG as fuel in heavy-duty vehicles, especially in China and European countries. LNG is the most viable option for long-haul LNG-fueled trucks globally. In heavy-duty vehicles, the density of LNG can vary considerably over a range of saturation pressures and storage temperatures. These factors are expected to drive demand during the forecast period.

APAC is projected to be the leading small-scale LNG industry, globally, during the forecast period. The growth in the APAC region can be attributed to the rising demand from heavy-duty vehicles and industrial & power sectors. The presence of a robust industrial base, favorable government policies, and low labor costs along with growing demand for small-scale LNG in the region are further strengthening the market and attracting major players to invest in the region.

The Linde Group (Germany), Wartsila Corporation (Finland), Honeywell International Inc. (US), General Electric (US), Engie (France), and Gazprom (Russia) among others are the key players operating in the small-scale LNG market.

Request For Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=226707057

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/small-scale-lng-market-226707057.html