Global Small-Scale LNG Market Size By Product Type (Liquefaction Terminal, Regasification Terminal), By Application (Transportation, Industrial Feedstock, Power Generation), By Geographic Scope And Forecast

Small-Scale LNG Market Size And Forecast

Small-Scale LNG Market size was valued at USD 8.16 Billion in 2022. and is projected to reach USD 16.78 Billion by 2030, with an exceptional CAGR of 7.69% from 2024-2030.

The global SSLNG market is expanding due to the growing power requirements across multiple countries, industrial growth in developing countries, rising import of SSLNG for industrial use, and benefits offered by SSLNG over conventional fuel sources like diesel and petrol. However, rising concerns over carbon footprint are posing a serious challenge for the global small-scale LNG market. The Global Small-Scale LNG Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Small-Scale LNG Market Definition

Small-scale LNG is a practice that involves the direct use of liquified natural gas without having to convert it into gas first, like the conventional practice. Conventional use of natural gas involves regasification of the liquified gas and then injecting it into the transmission. It is generally supplied to small consumers for limited use, such as the transportation segment, where SSLNG is used to power heavy vehicles like trucks and marine ships. Other than the transportation segment, SSLNG also has applications in power generation, industrial feedstock, and many other crucial applications. Because of its characteristics, the major part of the small-scale LNG market is captured by the liquefication segment. LNG has many economic and environmental benefits over fossil fuels. It is also non-toxic and non-corrosive in nature, thus increasing the lifespan of the vehicle by a significant margin. Due to such benefits, the small-scale LNG market is expected to offer great opportunities to the key players.

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Global Small-Scale LNG Market Overview

The global small-scale LNG market is expanding due to the growing demand for LNG due to its benefits over fossil fuels, rising power requirements in cities, transportation requirements as a part of the supply chain, and increasing support and initiatives from the local governments to support the use of LNG. LNG has many benefits over conventionally used fossil fuels like petrol and diesel. LNG being non-corrosive is also beneficial for the vehicle and the user as they must worry less about maintaining the vehicle.

These benefits have contributed to the rising acceptance of LNG across several economies. China is the biggest market for SSLNG due to its growing use across various industrial applications and transportation. China also has extensive power requirements because of its vast industrial sector that fuels the manufacturing operations of many leading companies from across the globe. SSLNG has proven its benefits in power generation, which is driving its demand in China and other Asian countries. Because of such market developments, Asia has emerged as the leading market for SSLNG.

Global Small-Scale LNG Market Segmentation Analysis

The Global Small-Scale LNG Market has distinct segments based on product Type, application, and geography.

 

Small-Scale LNG Market, By Product Type

• Liquefaction Terminal
• Regasification Terminal

Based on the product Type, the market is bifurcated into liquefaction terminals and regasification terminals. The liquefaction terminal segment held the most significant position in the small-scale LNG market by product type. The export of LNG has increased exponentially in recent years with the growing need for LNG for various industrial applications. Liquified LNG makes transport much easier, which contributes to the revenue of the liquefaction terminal segment.

Small-Scale LNG Market, By Application

• Transportation
• Industrial Feedstock
• Power Generation
• Others

Based on the Application, the market is bifurcated into transportation, industrial feedstock, power generation, and others. The transportation segment exerted greater control over the global small-scale LNG market by application. Transportation is a core part of the supply chain, and LNG is turning out to be a great alternative to diesel and petrol. LNG can handle the power requirement of heavy vehicles such as ships and trucks, which is contributing to the segment’s growth.

Small-Scale LNG Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Based on geography

the global market for small-scale LNG is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific region controlled the greater share of the global small-scale LNG market by geography. Many Asian countries have shown a significant increase in their demand for natural gas, especially SSLNG, for applications like transportation and power generation. China has emerged as the leading end-user of SSLNG for applications like energy generation and transportation. Because of this exponential demand, China has been labeled as the largest LNG importer across the globe.

Key Players

The “Global Small-Scale LNG Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Gazprom, Honeywell International Inc, Linde plc, Gasum Ltd, IHI Corporation, Excelerate Energy LP, Prometheus Fuels, General Electric, Novatek, and NYK Line.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In July 2022, Edison and Snam announced a collaborative agreement to establish an SSLNG value chain to explore new areas of revenue generation under the SSLNG market.
• In June 2022, the Gas Authority of India Limited procured two small-scale Liquefaction skids to produce LNG for supplying the city gas distribution network.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Small-Scale LNG Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces Model

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Small-Scale LNG Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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