Liquefied Natural Gas

Liquefied Natural Gas

Global Liquefied Natural Gas (LNG) Market to Reach $184.4 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Liquefied Natural Gas (LNG) estimated at US$95.7 Billion in the year 2020, is projected to reach a revised size of US$184.4 Billion by 2027, growing at a CAGR of 9.8% over the analysis period 2020-2027. Power Generation, one of the segments analyzed in the report, is projected to record a 10.6% CAGR and reach US$93 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Transportation Fuel segment is readjusted to a revised 9.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $26.4 Billion, While China is Forecast to Grow at 16.2% CAGR

The Liquefied Natural Gas (LNG) market in the U.S. is estimated at US$26.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$43.5 Billion by the year 2027 trailing a CAGR of 16.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 9.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$25.2 Billion by the year 2027.

Other Applications Segment to Record 8.5% CAGR

In the global Other Applications segment, USA, Canada, Japan, China and Europe will drive the 8.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$20.5 Billion in the year 2020 will reach a projected size of US$34.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 10.2% CAGR through the analysis period.

Select Competitors (Total 22 Featured) -

• BP
• Chevron Corporation
• China National Petroleum Corporation
• China Petroleum & Chemical Corporation
• ConocoPhillips Company
• Eni SpA
• Equinor ASA
• Exxon Mobil Corporation
• Gazprom
• PetroChina Company Limited
• Petroliam Nasional Berhad (PETRONAS)
• Petronet LNG Limited
• Royal Dutch Shell
• Snam SPA
• Total

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