Large-scale LNG Terminals Systems - Global Industry Analysis 2023

With a host of natural gas producers and suppliers presently operating and an increased number of companies planning to invest more in the sector, the global large-scale LNG terminals market is expected to witness intense competition in the next few years, points a report by TMR. Rising production volumes and significant decline in prices of natural gas have further heightened the bargaining power of buyers in the global market in the past few years. The market features intense competition but also presents sustainable growth opportunities.

The vast surge in the global consumption of LNG, primarily owing to its environmental benefits, has stimulated major oil and gas producers in venturing in the large-scale LNG terminals market in the past few years. Some of the key vendors operating in the highly fragmented market are Petroliam Nasional Berhad (PETRONAS), Exxon Mobil Corporation, Royal Dutch Shell plc., Linde AG, ConocoPhillips Company, and Nippon Gas Co. Ltd.

Get PDF Brochure for more Professional and Technical insights :
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=8668

Environmental Benefits of LNG to Encourage Consumption

The increased demand for LNG across the globe, and thus the need for development of small- and large-scale LNG terminals, can be majorly attributed to the environmental benefits of LNG over other fuels. LNG possesses excellent replacement potential and can be used as a cleaner as well as a much economic fuel across sectors such as industrial, automobile, and commercial. With the demand for increased utilization of clean fuels gathering strength globally, LNG is expected to occupy a major share in world’s primary energy mix in the next few years. This will play a significant role in the expansion of the global large-scale LNG terminals market.

The increased preference of long-haul vehicle fleet owners to LNG as an alternate fuel owing to its economic and environmental benefits, especially in North and South America, will also foster growth in the global market for large-scale LNG terminals. However, challenges in infrastructure development and lack of persistent demand from end users are some of the key factors limiting the widespread expansion of large-scale LNG terminals on a global front.

Europe Continues to be Most Attractive Regional Market

Based on factors such as the presence of large-scale LNG infrastructure, demand from end-use segments, adoption of LNG bunkering, and import-export volumes of LNG, Europe was noted to be the most attractive regional market for large-scale LNG market in 2014. Although the region is still struggling to recover from the recent economic turmoil, the rising use of natural gas across mid- and large-sized demand centers have made Europe the place to be for large-scale LNG terminal companies. Europe has also remained the leading regional market for large-scale LNG terminals historically, but is started losing its dominance to Asia Pacific post 2008.

Nevertheless, the Europe large-scale LNG terminals market is expected to witness significant traction in the next few years as strict emission regulation norms will pressure the industrial as well as the commercial sectors to switch from conventional fuels to cleaner ones. In pursuit of meeting the emission reduction targets for 2020, Europe has already commenced the development of its LNG infrastructure. The Europe market for large-scale LNG terminals is expected to exhibit a CAGR of over 10% from 2015 to 2023.

On a whole, the global large-scale LNG terminals market is expected to expand at a 5.78% CAGR from 2015 to 2023, rising from a valuation of 2,684.8 MMTPA in 2014 to 4,664.7 MMTPA in 2023.

This review of the global large-scale LNG terminals market is based on a recent market research report published by Transparency Market Research, titled “Large-scale LNG Terminals Market By Technology - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.”

Key Takeaways
Stringent environment protection regulations in Europe to warrant increased consumption of natural gas in the region
Preference of long-haul fleet vehicle owners for LNG to lead to major developments in LNG infrastructure in North America and South America
An increasing number of oil and gas companies to increase investments in LNG market in the near future

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.