The Small Scale LNG Market is estimated to grow at a CAGR of 10.4% during the forecast period (2023-2030).
Small-scale LNG (SSLNG) is a flammable gas that is handled in mechanical plants with lax safety regulations and can be discovered in melted structures. After being cooled to extremely low temperatures, the gas transforms into an odorless, colorless fluid that can be re-gasified for a variety of uses. Because the LNG market is characterized by economies of scale, there aren't many SSLNG facilities.
Metrics |
Details |
CAGR |
10.4% |
Size Available for Years |
2021-2030 |
Forecast Period |
2023-2030 |
Data Availability |
Value (US$) |
Segments Covered |
Type, Application and Region |
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
Largest Region |
Asia-Pacific |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Growing global demand for LNG
One of the key elements influencing the small-scale LNG market growth is the rising demand for natural gas. Natural gas is becoming more and more popular as a fuel source due to its lower greenhouse gas emissions when compared to other fossil fuels. The need for more flexible and affordable natural gas storage and transportation options is growing.
Since it is now possible to transport and store natural gas in a more manageable and condensed form, small-scale LNG offers a solution to the problem. National governments are increasingly relying on cleaner fuels to reduce their reliance on coal and oil.
The rising environmental regulations
A number of significant environmental laws are fueling the demand for small-scale LNG. Among these are laws that control things like marine pollution, air pollution and greenhouse gas emissions. Governments everywhere are enforcing stricter regulations to reduce greenhouse gas emissions and stop climate change. Natural gas burns cleaner and produces fewer greenhouse gases than coal and oil. As a result, it is a desirable option for countries looking to reduce their carbon footprint.
The global small-scale LNG market is segmented based on type, application and region.
The rising usage of LNG in heavy-duty vehiclesl
According to estimates, the market's largest application is for heavy-duty vehicles. Liquefied natural gas (LNG), which is employed on a small scale, is becoming more and more common in applications for heavy-duty vehicles. Natural gas is cooled to a temperature of around -162 degrees Celsius to produce LNG, a transparent, odorless, and non-corrosive liquid. For many fleet owners and operators trying to save their fuel costs and emissions, it is increasingly a desirable choice.
Buses, trucks, and other heavy-duty vehicles with significant fuel requirements are among the heavy-duty vehicles that can use small-scale LNG. The cars can be built as dedicated LNG vehicles or they can be converted to use LNG.
Source: DataM Intelligence Analysis (2023)
Various end-use industries in Asia-Pacific
One of the global markets with the greatest rate of growth is the Asia-Pacific small-scale LNG market. Small-scale LNG is becoming a viable option for satisfying demand in a way that is both economical and environmentally responsible.
The use of small-scale LNG (SSLNG) has increased recently due to the region's growing need for natural gas. In comparison to traditional LNG, SSLNG has a number of benefits, such as lower initial investment costs that allow supplies to start flowing more rapidly, and operational and logistical flexibility that is not possible with pipeline delivery.
Source: DataM Intelligence Analysis (2023)
The major global players include Linde PLC, Wärtsilä, Baker Hughes Company, Honeywell International Inc., Chart Industries, Black & Veatch Holding Company, Anthony Veder, Shell Global, Engie, and Eni S.p.A.
The global small-scale LNG market report would provide approximately 53 tables, 47 figures and 204 pages.
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