The liquefied natural gas (LNG) is a type of natural gas that is converted into liquid form by the process of conversion called liquefaction. The liquefied natural gas (LNG) is extensively used, which is a factor expected to drive the demand for small-scale LNG during the forecast period. Natural gas is a clean source of fossil fuel with the lowest emission of pollutants. The energy sector is facing issues owing to strict regulations against climate change, widening supply and demand gap, rising concern relating to cleaner and sustainable sources of energy, and depleting fossil resources. Natural gas is a sustainable energy source and this source faces storage issues as the volume of natural gas is high. The natural gas is converted to liquid form at liquefaction terminals, for ease of transportation and the liquefied gas is again converted to gas at regasification terminals.
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Major Market Players:
Gazprom (Russia), Engie SA, Honeywell International Inc., Wärtsilä Corporation, The Linde Group, Skangas AS, IHI Corporation, Excelerate Energy L.P, Prometheus Energy, and Novatek
Some of the factors including the rising number of LNG-fueled fleet and the energy cost advantage of LNG are expected to derive the growth of the market over the forecast period. However, limited LNG receiving terminal infrastructure is anticipated to hamper the growth of the market. Furthermore, the integration of new technology is expected to offer lucrative opportunities for the market in the forecast period.
The rising demand for electricity in recent days has augmented the demand for liquefied natural gas (LNG), which has led to higher production of liquefied natural gas (LNG). In addition, several remote areas are devoid of electricity supply and increasing government initiatives about rural electrification have raised the demand for liquefied natural gas (LNG) in recent years. Moreover, the industrialization and rise in household requirements have increased the demand for electricity production, which is expected to boost the global market for small-scale liquefied natural gas (LNG).
The liquefied natural gas (LNG) is also used for cooking and heating purposes and with the rising population, the growth potential for the small-scale liquefied natural gas (LNG) market is expected to increase during the forecast period. In addition, reduction in the prices of natural gas and fluctuation in the prices of crude oil caused by excessive production of crude oil is also expected to boost the growth of the small-scale liquefied natural gas (LNG) market in the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the small scale LNG market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the small scale LNG market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the small scale LNG market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed small scale LNG market analysis based on competitive intensity and how the competition will take shape in the coming years.
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