Global Liquefied Natural Gas (LNG) Market to Reach $255.2 Billion by 2030
The global market for Liquefied Natural Gas (LNG) estimated at US$129.8 Billion in the year 2023, is expected to reach US$255.2 Billion by 2030, growing at a CAGR of 10.1% over the analysis period 2023-2030. Power Generation Application, one of the segments analyzed in the report, is expected to record a 10.9% CAGR and reach US$131.5 Billion by the end of the analysis period. Growth in the Transportation Fuel Application segment is estimated at 10.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $34.2 Billion, While China is Forecast to Grow at 16.1% CAGR
The Liquefied Natural Gas (LNG) market in the U.S. is estimated at US$34.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$70 Billion by the year 2030 trailing a CAGR of 16.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 9.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$37 Billion by the year 2030.
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