Global LNG Market Size Estimated To Reach at USD 19.73 billion in 2026

The global LNG market generated USD 9.03 billion in 2017 and is anticipated to grow at a CAGR of 9.1% during the forecast period.

The increasing consumption of natural gas from over 3.5 tscm in 2014 to almost a projected amount of 5.2 tscm in 2040 has been the sign of the new trend in shift for clean hydrocarbon fuel. The World Gas Model has scheduled its production dependent on the lowest cost, accounting the transportation to market through LNG or pipeline as well as cost of production that are subject to contractual obligations. Worldwide LNG capacity has increased by 50% from 2015 to 2020, with several new projects currently under construction and ready to enter service. Moreover, another wave of upcoming LNG project is planned between 2024 to 2030 and the third part from 2035 onwards.

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The U.S. has been a significant player in increasing demand for this product, with anticipation of hosting six projects up to 2020. From the early half of 2017, the industry noticed some interesting trends in significant increase in demand and this is anticipated to continue over the forecast period. Development of new infrastructure and low spot prices for the product has lead to an increase in demand in several nations, while economic and technical issues have meant lower than projected supply.

The transportation sector, including heavy duty vehicles, ships and even rail. All of these types of locomotive means are great sources of LNG applications. Apart from these, it is safe for transportation as in liquid state it not explosive and cannot burn. In order to ensure safety and the security of all the LNG facilities, safety requirements and industry standards along with the best practices has been designed to mitigate the worst. By the end of 2016, the global LNG trade recorded 258 million tones, an increase in 13.1 MT around 5% up from that of 2015. Trade values in 2017 increased over 260 MT. Hence, the increasing production of LNG to boost LNG market during the forecast period. The continued addition of supply mainly in the Pacific Basin especially in the Australian region along with the increase in exports from the United States Gulf of Mexico LNG trade has increased significantly. The worldwide liquefaction capacity increased at a similar rate in 2016 as in 2015, adding another 35 MTPA of additional capacity between the end of 2015 and January 2017 to reach a total of 339.7 MTPA.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global LNG Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Competitive Landscape and Key Vendors

Asia Pacific is the largest regional market in terms of consumption of LNG. Formation of a functional natural gas industry hubs is the major factor driving the region towards are producing market, however it will take some time. The proposed hubs for LNG in China, Singapore and Japan are facing considerable infrastructure and regulatory challenges, including the lack of access for third-party to infrastructure and limited pipeline connectivity within and between countries. As the worldwide market, has been continuously evolving and maturing, consistent pricing indexes and the market hubs in the Asian countries will basically transform the worldwide LNG market into a more integrated, efficient, and transparent market.

Some of the leading industry participants in the LNG market include Gazprom, ExxonMobil, China National Petroleum Corporation, Royal Dutch Shell, BP, Chevron, Total, Statoil, ConocoPhillips, Eni, Freeport Liquefaction LLC, INPEX, Kitsault Energy, Next Decade, NIOC, Novatek, Petronas, Rosneft, Sempra Energy, Steelhead LNG, Stewart Energy, Veresen, Woodfibre LNG, and Woodside.

Key Segments

Product Type

• Industrial & Mining
• Power Generation
• Transportation

Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Pakistan
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa

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Posted by polarismarketresearch on Friday October 26 2018, 3:15 AM EST. All trademarks acknowledged. Filed under Uncategorized. Comments and Trackbacks closed. Follow responses: RSS 2.0