Small-Scale LNG Market Worth 299.15 M Tons Per Annum by 2021


Oil and Gas - May 2, 2017

"Small-Scale LNG Market by Type (Liquefaction Terminal, and Regasification Terminal), End-User (Heavy-Duty Vehicles, Electric Power Generation, Marine Transport), and Region - Global Forecast to 2021", The small-scale LNG market is projected to grow from 262.38 Million Tons Per Annum in 2016 to 299.15 Million tons per annum by 2021, at a CAGR of 2.7% between 2016 and 2021.

Increasing use of liquefied natural gas (LNG)  by various end users, such as heavy-duty vehicles and electric power generation, technological advancements being carried out in liquefied natural gas (LNG) liquefaction and regasification processes, and increasing demand for of liquefied natural gas (LNG) from theAsia-Pacific region are expected to fuel the growth of the small-scale LNG market during the forecast period. Increasing demand for liquefied natural gas (LNG) from the remote locations for use in power generation plants and global commoditization of liquefied natural gas (LNG) are the major factors driving the demand for liquefied natural gas (LNG) from small-scale regasification terminals. This, in turn, is expected to fuel the growth of the small-scale LNG market during the forecast period.


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The heavy-duty vehicles end user segment of the small-scale LNG market is expected to gain maximum traction during the forecast period, 2016 to 2021.

In terms of volume, the heavy-duty vehicles end user segment is projected to lead the small-scale LNG market during the forecast period. The growth of the heavy-duty vehicles end user segment of the market can be attributed to increasing adoption of natural gas-fueled heavy-duty vehicles across the globe. Moreover, the sustainability of natural gas-fueled heavy-duty vehicles also depends on the ability of the LNG industry to provide fuel at reasonable costs. Furthermore, the need for maintaining local air quality, existence of proper liquefied natural gas (LNG) infrastructure, implementation of strategic energy reserve policies by various regulatory authorities, and availability of residual fuels are some of the drivers augmenting the demand for natural gas in the electric power generation plants, which, in turn, is fueling the growth of the small-scale LNG market.

Among types, the regasification terminals segment is projected to lead the small-scale LNG market during the forecast period, 2016 to 2021.

Among types, the regasification terminals segment is projected to lead the small-scale LNG market during the forecast period. Increasing demand for liquefied natural gas (LNG) from the remote locations for use in power generation plants and global commoditization of liquefied natural gas (LNG) are some of the major factors driving the demand for liquefied natural gas (LNG) from small-scale regasification terminals, which, in turn, is expected to lead to the growth of the small-scale LNG market during the forecast period. Development of downstream infrastructure and logistics, remote regasification terminals, trucking stations, and liquefied natural gas (LNG) bunkering are some other factors expected to fuel the growth of the small-scale LNG market during the forecast period.

The Asia-Pacific small-scale LNG market is projected to grow at the highest CAGR during the forecast period.

The Asia-Pacific small-scale LNG market is projected to grow at the highest CAGR during the forecast period. The Asia-Pacific region has emerged as an important consumer of small-scale liquefied natural gas (LNG) due to its increasing use in heavy-duty vehicles and electric power generation plants, among others. Traditionally, the production of small-scale liquefied natural gas (LNG) has always been considered as a significant business in the Asia-Pacific, North American, and European regions. Currently, various key players operating in the small-scale LNG market are undergoing partnerships to become pipeline natural gas suppliers.

 

Source : ASDReports - Market Research

Published on Global Energy World: May 2, 2017

 
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