LNG Market Development and Growth Opportunities by Forecast 2032

The global LNG market was valued at USD 30.34 billion in 2020, and is expected to reach USD 66.13 billion by 2027, at a CAGR of 6.92% during 2022-2027.

A recent market research report added to repository of Analytics Market Research is an in-depth analysis of Global LNG Market. On the basis of historic growth analysis and current scenario of LNG market place, the report intends to offer actionable insights on Global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of Global LNG market. This further helps user with their developmental strategy.

This report examines all the key factors influencing growth of Global LNG market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of Global LNG market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.

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Over the coming years, market expansion is projected to be driven by the rising demand for electric power produced from sustainable energy sources. Over the next eight years, market growth is predicted to be aided by an increased focus on distributed power & utility projects. Demand for liquefied natural gas (LNG) is set to increase across a number of nations as a result of the anticipated increase in natural gas used in the power generation industry. The primary energy source for producing power worldwide is coal; but, due to the depletion of coal supplies and its detrimental effects on the environment, natural gas and other renewable energy sources are increasingly being used.

The nation has a varied energy mix, with natural gas making up the greatest portion of North America's primary energy production (23.20%). The development of sustainable energy sources is a priority for policymakers, and it is expected that this would lead to a rise in the demand for LNG in the nation. Due to the country's well-established gas infrastructure, expanding oil and gas industry, and expanding industrial activity, natural gas demand for power production and transportation fuel is on the rise.

Application Insights

The market is divided into fuel for transportation, power production, and other uses depending on the application. With a value share of 47.44% in 2021, the application segment for power generation accounted for the biggest value share. Growing natural gas demand also contributes to a decrease in the release of damaging greenhouse gas emissions. Over the course of history, there has been a noticeable change in the increased use of this fuel in the mining, industrial, and power generation sectors. Low fuel switching costs and a price drop are promoting industrial expansion in the transportation and power production sectors.

Regional Insights

In 2021, the Asia Pacific region's revenue share was the highest (80.11%). Japan had the highest country-level demand and is anticipated to expand significantly throughout the forecast period. In the upcoming years, China is anticipated to expand at the fastest rate in the Asia Pacific region. Gas in the energy mix makes up only 4% to 5% of the primary energy used in the nation, leaving room for improvement. Strong economic expansion across the nation is also causing a rise in the use of gas-based power plants, which have wider market applications.

Market Segmentation

Global LNG Market: Segmentations

Global LNG Market: By Key Players
Air Products & Chemicals
BG
BP
Cheniere Energy
Chevron
ConocoPhillips
Exxon Mobil
Gazprom OAO
Inpex
Petroleos De Venezuela
Petronas

Global LNG Market: By Types
Ethane
Propane
Butane
Nitrogen

Global LNG Market: By Applications
Construction & Dairy Products
Furnaces
Fluid Bed Dryers
Food Processing
Manufacturing
Mining
Power Generation Sector
Rotary Kilns

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Global LNG Market: Regional Analysis
The countries covered in the regional analysis of the Global LNG market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Objectives of the Study:

• To provide with an exhaustive analysis on the LNG Market by Product, By Application, By End User and by Region.

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

• To evaluate and forecast micro-markets and the overall market

• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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