Press release
Small Scale LNG Market Trends, Segment Forecast With ENGIE, Siemens, Statoil, Shell, BP, Eni, The Linde Group, BG Group, GE Oil & Gas, Total, Air Products, ConocoPhillips, Gazprom transgaz Yugorsk, Wärtsilä, Chart Industries, Inc., Black & Veatch
Small Scale LNG Market
The small scale LNG market research report involves creative device so as to study and assess LNG Industry alongside its chances, and supporting key and strategic basic leadership. The report examines changing patterns and competitive examination which winds up fundamental to screen execution and settle on basic choices for development and advancement. The report holds the possibility to join the rundown of the most compelling ventures on the planet. The market is intensely adding to universal income age and at the same time boosting the worldwide financial structure. The report perfectly examines the scenario of quickly expanding small scale LNG market whose development has been driven by crude material luxuriousness, item awareness, developing interest, and financial stability.
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The small scale LNG market Global Small-Scale LNG Market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026. Increasing demand for the LNG is the major factor for the growth of this market.
The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker, ships and trucks. These small LNG has production capacity of 500000 TPY and are usually used where there is requirement of LNG by the consumers. Increasing demand of LNG in marine and heavy transport is the major factor for the growth of this market.
Market Drivers:
· Increasing demand of LNG in marine is driving the market
· Low cost of LNG as compared to other energy sources is driving the market
Market Restraints:
· The high cost of the supply chain is restraining the market
· Less number of terminal infrastructures is restraining the growth of this market
Key Market Competitors:
Few of the major competitors currently working in small- scale LNG market are Linde plc, Wärtsilä, Honeywell International Inc, GENERAL ELECTRIC, ENGIE, Gazprom, Sofregaz Company, Dresser-Rand, , Excelerate Energy. L. P., Cryostar, Equinor ASA, PT Pertamina(Persero), Eni, Total, Gasum Oy, Kunlun Energy Company Limited, Royal Dutch Shell, BP p.l.c.
Key Developments in the Market:
· In December 2018, Novatek announced the launch of their new small- scale LNG plant at Baltic Sea which has a capacity of 660,000 tonnes of the frozen gas per year and will expand it to 800,000 tonnes by 2021. It is the first cargo of liquefied natural gas as per the contractor Atomtekhenergo.
· In November 2018, Edison announced the launch of their first Italy first integrated logistics chain of small scale LNG along with PIR (Petrolifera Italiana Rumena). It will have storage capacity of 20,000 cubic meters of LNG and will come into operation in 2021.
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Global small- scale LNG market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of small- scale LNG market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global Small-Scale LNG Market
· By Type
o Liquefaction Terminal
o Regasification Terminal
· By Application
o Heavy-Duty Vehicles
o Marine Transport
o Industrial & Power
o Utilities
o Residential
· By Modes of Supply
o Trucks
o Trans- Shipment and Bunkering
o Captive Consumption through Pipeline & Rail
· By Infrastructure
o Truck Fuelling Stations
o Bunkering Vessels
o Bunker Barge
o Bunkering Terminals
o Storage Hubs
o LNG Storage
o Regas Facilities
o Truck-To-Ship Bunkering
o LNG Trailers
· By Geography
o North America
US
Canada
Mexico
o South America
Brazil
Argentina
Rest of South America
o Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Switzerland
Rest of Europe
o Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia-Pacific
o Middle East and Africa
South Africa
Egypt
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa
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