What is Liquefied Natural Gas Market?
Liquefied natural gas is defined as the liquid form of natural gas and it is composed of methane and other gases namely Ethane, Propane, Butane, Nitrogen, and others. It is a process in which natural gas is converted into liquefied natural gas by cooling it in a liquefaction plant that makes it additional efficient to transport. The boiling point of Liquefied natural gas is -162°C boiling point and density is range between from 430 kg/m3 & 470 kg/m3. It is also used in alternative fuels in various mode of transports namely rails, ships, trucks, and others. In additions, it is widely used in various industries such as manufacturing, mining, power generation sector, construction & dairy products, furnaces, fluid bed dryers, food processing, and rotary kilns.
The market study is being classified by Type (Liquefaction Terminal and Regasification Terminal) and major geographies with country level break-up.
Anadarko Petroleum (United States), Chevron Corporation (United States), National Iranian Oil Company (Iran), Petronas (Malaysia), PJSC Rosneft Oil Company (Russia), Woodside Energy (Australia), Cheniere Energy (United States), Gazprom (Russia), INPEX Corporation (Japan) and Novatek (Russia) are some of the key players profiled in the study.
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global liquefied natural gas market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Liquefied Natural Gas market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Liquefied Natural Gas market by Type, Application and Region.
On the basis of geography, the market of Liquefied Natural Gas has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Energy Consumption and Growing Urban Population
- Increasing Demand for Natural Gas Vehicles
- Accelerating Economic Growth and Increasing Preference for LNG in Developing Economies
Market Trend
- Growing Demand for LNG Bunkering and Evolving LNG Export
Restraints
- Problem Regarding approval of Liquefied Natural Gas
Opportunities
- Rising Demand from Emerging Economies Such as India, China, and Others
- Increasing Liquefaction Capacity as well as Exports of Regional LNG Projects
Challenges
- Issue Related to High Cost of Equipment
In March 2019, according to Peter Altmaier (German politician), the regulatory changes will affect more cost burden on the transmission system operators in order to link LNG terminals.
Key Target Audience
Manufacturers of Liquefied Natural Gas, Suppliers of Liquefied Natural Gas, Wholesalers, Distributors, and Retailers of Liquefied Natural Gas, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others