Small Scale LNG Market Growth 2018 | Top Market Leaders are Gazprom, Engie SA, Linde Group, Honeywell International Inc., General Electric, Skangas AS, Prometheus Energy

Market Overview
Growing population worldwide is increasing the demand for energy. Depleting natural resources such as fuel & water which can be utilized for energy generation coupled with the growing environmental concerns like carbon footprint etc are prompting the need for the alternative resources for clean and sustainable energy generation. In such a scenario where the world is in the dire need of enhancing the production of clean energy; ssLNG is demonstrating the potential to transform the role of gas in energy landscape. Attributing to this factor, ssLNG is gaining traction which is likely to increase as market and regulatory pressures to transition to lower-carbon energy intensify.

Accrediting the kind of traction the market is garnering currently demonstrating the growth prospects worldwide, Market Research Future has recently published a study report, which indicates that the global Small Scale LNG Market is estimated to ascend enormously by 2022 registering a CAGR of 2.5% during 2016 to 2022.

When compared with traditional fossil fuels, LNG emits lesser pollutants and is cheaper. One of the primary factors driving the small scale LNG market is the formulation and implementation of various policies regarding the emission of carbon dioxide and nitrogen oxide and modifications being carried out in the existing liquefied natural gas (LNG) terminals.

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Competitive Analysis
The global market for small scale LNG is currently in a development stage. To maintain the market position and to drive the market growth, all the major player are highly involved in acquiring new project development across the world, so as to showcase their product diversity and market dominance. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product development, innovation, increasing investments in research and development and cost-effective product portfolio.

Key Players
The key players of global small scale LNG Markets are Public Joint Stock Company Gazprom (Russia), Engie SA (France), and The Linde Group (Germany), Honeywell International Inc. (U.S), General Electric (U.S), Wärtsilä Corporation (Finland), Skangas AS (Norway), Prometheus Energy (U.S), Excelerate Energy L.P (U.S) and IHI Corporation (Japan).

Industry/ Innovation/ Related News:
January 17, 2018 - Gasunie, a Dutch natural gas infrastructure operator launched open season to gauge market interest in planned German LNG terminal (LNG import facility at Brunsbuttel on Germany's Baltic coast). The company would also seek to develop small-scale LNG bunkering for ships and small-scale LNG for trucking as German regional and city governments seek to reduce diesel use.

January 20, 2018 - Baleària and gas Natural Fenosa signed the first permanent Liquefied Natural Gas (LNG) bunkering contract for ship propulsion in Spain. The supply contract will be exclusive for 10 years and will initially apply to the ports of Barcelona, Valencia and Algeciras, then extended to all the peninsular ports operated by the shipping company together with the entire new fleet powered by this fuel committed to using LNG as an ecological fuel.

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Worldwide Small Scale LNG Market – Regional Analysis
Asia-Pacific accounts for the largest share in global small scale LNG market. Decreased oil prices and government policies and regulations towards greener fuel use have increased the acceptance of LNG. There is an increasing use of natural small scale LNG for transport and standby power requirements, particularly in India and China. Globally, Europe is the second largest market for small scale LNG. The Blue Corridors Project that is underway in Europe to build LNG fueling infrastructure, demonstrates the economic viability of LNG fuel, for heavy trucking that also encourages its adoption. In North America region, LNG with low carbon emissions is compared to diesel and with reduced particulate emissions, is increasingly being used for heavy duty vehicle and onshore transportation.

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This release was published on openPR.