LNG Terminal Market Size - By Terminal (Onshore, Floating), Growth Opportunities, Industry Trends, Regional Outlook & Forecast, 2023 - 2032

LNG Terminal Market Size - By Terminal (Onshore, Floating), Growth Opportunities, Industry Trends, Regional Outlook & Forecast, 2023 - 2032

The global LNG terminal market will showcase a 15.8% CAGR from 2023 to 2032. The increasing global demand for natural gas, driven by its relatively cleaner and more efficient properties compared to other fossil fuels will drive growth in the LNG terminal industry.

LNG terminals offer a convenient and economical means of transporting natural gas across regions and countries, which will promote business growth. Environmental concerns will drive a shift to natural gas as a transitional fuel to renewables. LNG terminals crucially support natural gas storage, regasification, and distribution, driving industry growth.

Strategic investments by governments and private entities in LNG infrastructure, including terminals and liquefaction plants, to enhance energy security and meet burgeoning energy demands, are anticipated to fuel industry growth. In March 2023, Sempra announced that its majority-owned subsidiary, Sempra Infrastructure Partners LP, had given the green light for investment in the Port Arthur LNG Phase 1 project in Jefferson County, Texas, encompassing development, construction, and operations.

These investments aim to create a robust LNG supply chain, supporting economic growth and energy diversification. Additionally, the expanding use of LNG in various sectors such as transportation, power generation, and industrial applications further fuels the business for LNG terminals.

The LNG terminal market is categorized based on terminal and region.

Based on terminal, the floating LNG terminal segment will exhibit a substantial CAGR through 2032. The ability of floating LNG terminals to reach remote or challenging locations, cost-effectiveness for small-scale projects, and faster deployment, make them a better option. Their adaptability for temporary or rapidly changing energy needs will further drive growth in the segment.

Regionally, the North America LNG terminal industry is anticipated to account for a sizeable market share during 2023-2032. The abundant presence of domestic natural gas reserves, increasing exports to global markets, supportive government policies, and the transition to cleaner energy sources will drive growth in the region’s industry.

Moreover, rising infrastructure investments to meet the growing demand for LNG in both domestic and international markets will further spur growth in the region.