Planned LNG Market Opportunity Analysis, Growth, Developments & Forecast 2020-2030

Global planned LNG market was valued at $102.2 billion in 2019, and is projected to reach $58.9 billion by 2030, growing at a CAGR of 9.9% from 2020 to 2030. Inclusion of regasification and liquefaction capacity at LNG terminals is known as planned LNG.

Increase in technological advancement and rise in demand for LNG from the Asia-Pacific region drive the growth of the global planned LNG market. However, postponement in LNG projects restrains the market growth. On the other hand, rise in demand from different end users such as industrial and commercial create new opportunities in the coming years.

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The planned LNG market is analyzed on the basis of three segments. The segments are technology, end-user industry, and region. Based on the technology, the market is categorized into liquefaction and regasification. On the basis of end-use industry, the market is classified into residential, commercial, and industrial. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Planned LNG market share is analyzed across all main regions.

Based on technology, the liquefaction segment accounted for more than four-fifths of the total share of the global planned LNG market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to addition of liquefaction capacity by major exporting countries such as U.S., Qatar, and Australia. Moreover, this segment is estimated to portray the highest CAGR of 28.9% from 2020 to 2030.

Based on end user, the industrial segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the commercial segment is estimated to portray the highest CAGR of 10.9% during the forecast period.

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Leading market players analyzed in the research include Chevron Corporation, Equinor ASA, Exxonmobil Corporation, Gasum OY, Lng Croatia LLC, Royal Dutch Shell PLC, Venture Global LNG, Cheniere Energy, Inc., Conocophillips Company, Energy Transfer Lp., Freeport LNG, Korea Gas Corporation, Petróleobrasileiro S.A. (Petrobras), and Sempra Energy.

Other players in the value chain of the market include Tokyo Gas Co Ltd, Hitachi, Petronet LNG Ltd, Samsung C&T Corporation CTCI Resources Engineering Inc., and others.

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Covid-19 Scenario:

• The outbreak of coronavirus (COVID-19) has negatively affected the LNG sector. The majority of the LNG regasification projects have stopped their operations during lockdown.

• These LNG regasification projects are based in countries such as India and China. These regions are among the major demand centers for LNG. However, China is the worst affected nation by coronavirus in Asia which may affect the global market.

• The prime projects such as Soko Floating and Tangshan development (expansion) that were anticipated to get started in 2020 might get delay because of the global lockdown.

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