Small Scale Liquefied Natural Gas (LNG) Market Forecasts to 2028 – Global Analysis By Infrastructure (Bunker Barge, Bunkering Terminals), Type (Regasification, Liquefaction), Application (Residential, Utilities) and By Geography

Small Scale Liquefied Natural Gas (LNG) Market Forecasts to 2028 – Global Analysis By Infrastructure (Bunker Barge, Bunkering Terminals), Type (Regasification, Liquefaction), Application (Residential, Utilities) and By Geography

According to Stratistics MRC, the Global Small Scale Liquefied Natural Gas (LNG) Market is accounted for $7.04 billion in 2021 and is expected to reach $17.50 billion by 2028 growing at a CAGR of 13.9% during the forecast period. Small-scale liquefied natural gas (LNG) refers to a natural gas that is present in liquefied form and is processed in industrial plants with low capacities. The gas is cooled at extremely cold temperatures and is converted into an odorless and colorless liquid that can be re-gasified for various applications. In comparison to oil and diesel, small-scale LNG is more environment-friendly and is widely utilized in addressing off-grid power generation requirements in remote industrial and residential complexes. In addition to this, it is widely used as a transportation fuel, as an industrial feedstock and for heating purposes in industrial, commercial, and residential sectors.

Market Dynamics:

Driver:

The rising number of LNG-fueled fleet

The rising demand for electricity in recent days has augmented the demand for liquefied natural gas (LNG), which has led to higher production of liquefied natural gas (LNG). In addition, several remote areas are devoid of electricity supply and increasing government initiatives about rural electrification have raised the demand for liquefied natural gas (LNG) in recent years. Moreover, the industrialization and rise in household requirements have increased the demand for electricity production, which is expected to boost the global market for small-scale liquefied natural gas (LNG).

Restraint:

Fluctuating price of small-scale LNGs

The liquefied natural gas (LNG) is also used for cooking and heating purposes and with the rising population, the growth potential for the small-scale liquefied natural gas (LNG) market is expected to increase during the forecast period. In addition, reduction in the prices of natural gas and fluctuation in the prices of crude oil caused by excessive production of crude oil is also expected to boost the growth of the small-scale liquefied natural gas (LNG) market in the forecast period.

Opportunity:

Rapid industrialization

The rapid industrialization and elevating demand for energy- and cost-efficient energy sources are driving the need for small-scale LNG. Moreover, the growing requirement for power generation from underdeveloped and remote areas across the globe is further fostering the market growth. Additionally, the increasing LNG utilization as ship fuel over heavy fuel oil, marine gas oil, and diesel oil is also inducing the product demand. The growing traction for greener and cleaner fuel sources and increasing government expenditures to promote LNG adoption is further projected to drive the small-scale LNG market.

Threat:

Quick industrialization

Quick industrialization, alongside the developing interest for energy-productive and practical energy sources, is one of the key components driving the development of the market. Besides, boundless item reception by the transportation business is likewise giving a lift to the market development. Producers of business vehicles are moving toward L.N.G. over the customarily utilized fuel sources as it has total ignition and fewer fossil fuel by-products. Following this, the expanding interest for power age from immature and far-off regions across the globe is making an inspirational perspective for the market.

The regasification terminal segment is expected to have the highest CAGR during the forecast period

The regasification terminal segment is growing at the highest CAGR in the market. The regasification terminals are used for conversion of LNG gas from the liquid to gaseous state, most widely used during importation of small-scale LNG supply. For instance, in 2017, USA-based Okra Energy acquired Cryogas, a Peruvian company specializing in the transportation and storage of liquefied natural gas (LNG), as well as the installation of satellite regasification plants.

The liquefaction terminal segment is expected to be the largest during the forecast period

The liquefaction terminal segment is expected to be the largest share in the market. The growth in this segment is attributed to the increasing export of LNG, which requires liquefaction before it can be transported from one port to another. Furthermore, the growing number of liquefaction terminals across the globe is driven by the increase in the demand for LNG. The factors mentioned above are expected to drive demand during the forecast period.

Region with highest share:

Asia Pacific is projected to hold the largest share in the market due to its increasing usage in various end-use applications, such as heavy-duty vehicles and industrial & power. The increase in demand is because of the growing population, rising disposable income, and economic growth in China, South Korea, and Taiwan. These factors are expected to fuel the demand for small-scale LNG in the region during the forecast period.

Region with highest CAGR:

The North America is projected to have the highest CAGR in the market. Also, with the increasing consumption of small-scale LNG, highest number of manufacturing units of the natural gas and high availability of the gases terminals boosts the demand for small-scale LNG in the market.

Key players in the market:

Some of the key players profiled in the Small Scale Liquefied Natural Gas (LNG) Market include Baker Hughes GE, Chart Industries Inc., EOG Resources, FracChem LLC., Franklin Well Service LLC, FTS International, Halliburton, Honeywell International Inc., Linde Plc, National Oilwell Varco, Inc., Nuverra, Patterson-UTI Energy, Schlumberger, TechnipFMC, U.S. Silica Holdings, US Well Services, Wartsila, and Wipro Limited.

Key developments:

In August 2020: Wipro Limited announced the successful implementation of a blockchain-based small-scale liquefied natural gas (ssLNG) trading/fulfillment platform for Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary Liqvis GmbH.

In September 2018: Honeywell announced the acquisition of Ortloff Engineers, Ltd., a privately held licensor and industry-leading developer of specialized technologies that drives high returns in natural gas processing and sulfur recovery.

In February 2018: The Linde Group built a new LNG storage plant in Russia, Linde. The Engineering Division built related full-containment LNG storage tanks in record speed. Linde is performing basic and detail engineering for the process plant while also supplying the equipment and related bulk material.

In February 2017: Wartsila acquired Trident BV, a Netherlands-based company specialized in underwater ship maintenance, inspection, and repair services. The acquisition enables Wartsila to become a leading global operator in the underwater services market.

Mode of Supplies Covered:
Trucks
Rail
Captive Consumption through Pipeline
Trans-Shipment and Bunkering

Infrastructures Covered:
Bunker Barge
Bunkering Terminals
Bunkering Vessels
LNG Storage
LNG Trailers
Regas Facilities
Storage Hubs
Truck Fuelling Stations
Truck-To-Ship Bunkering

Types Covered:
Regasification Terminal
Liquefaction Terminal

Applications Covered:
Commercial
Heavy-Duty Vehicles
Industrial Feed Stock
Marine Transport
Power Generation
Residential
Utilities

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances