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Liquefied Natural Gas Market 2021 Global Industry Forecasts Analysis, Competitive Landscape and Key Regions Analysis | Expected to grow at a CAGR of 5.7% and is anticipated to reach around USD 470 million by 2025

07-20-2021 12:26 PM CET | Energy & Environment

Press release from: Supply Demand Market Research

Liquefied Natural Gas Market 2021 Global Industry Forecasts

LNG is natural gas which has been cooled down to liquid form for easy and safety of non-pressurized storage or transport. When LNG is converted into gaseous state, it is used for the residential, commercial and industrial purposes as diverse as heating, cooking, generating electricity and manufacturing a broad range of products. LNG is further used as a fuel for heavy-duty and other vehicles. Escalating demand for natural gas (NG) from downstream industries and variations in oil prices are few key factors boosting the market growth.

The global LNG market in 2020 was approximately USD 345 million. The market is expected to grow at a CAGR of 5.7% and is anticipated to reach around USD 470 million by 2025. Rising emphasis on the expansion of sufficient support for infrastructure among the developing as well as developed countries is projected to propel the liquefied natural gas (LNG) demand over the forecast period.

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Rising industrialization and urbanization, coupled with an increasing number of power-related projects, such as petrochemicals and city gas distribution (CGD), are anticipated to subsidize expressively towards the market growth in the coming years. However, the lack of pipeline infrastructure in remote areas will hamper the market.

The market for LNG is intensely competitive and is highly fragmented. The vendors in the LNG market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.

Key players in the market are BG Group plc, Apache Corporation, Cheniere Energy, ConocoPhillips, Dominion Resources, Kinder Morgan, Qatar Petroleum, Sempra Energy, Veresen Inc., Woodside Petroleum, China National Petroleum, Sinopec Group, CNOOC and Others.

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LNG Product Type Coverage (Market Size & Forecast, Major Company of Product Type etc.):

By Materials Type

Methane

Ethane

Propane

Others

By User Types

Industrial LNG

LNG for Car

Household LNG

LNG Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):

BG Group plc

Apache Corporation

Cheniere Energy

ConocoPhillips

Dominion Resources

Kinder Morgan

Qatar Petroleum

Sempra Energy

Veresen Inc.

Woodside Petroleum

China National Petroleum

Sinopec Group

CNOOC

LNG Application Coverage (Market Size & Forecast, Different Demand Market by Region, Main Consumer Profile etc.):

Power Generation

Industrial Fuel

Household Fuel

Automotive Fuel

Chemical Industry

LNG Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

North America (U.S., Canada, Mexico)

Europe (Germany, U.K., France, Italy, Russia, Spain etc.)

Asia-Pacific (China, India, Japan, Southeast Asia etc.)

South America (Brazil, Argentina etc.)

Middle East & Africa (Saudi Arabia, South Africa etc.)

Report Highlights

Global Liquefied Natural Gas Market sizes from 2017 to 2024

Market growth projections through 2024 and the resultant market forecast for 2024

Impact of the market dynamics including market drivers, restraints and opportunities in the market size

Key industry trends, product trends, and application trends

Major driving/ leading segmentations, regions and countries in the Global Liquefied Natural Gas Market  

Competitive analysis with comprehensive company profiles of the leading industry players

In-depth analysis on growth and expansion strategies adopted by market players and their resulting effect on market growth and competition

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SUPPLY DEMAND MARKET RESEARCH

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