Liquid Natural Gas Market Scope
Growing energy consumption, increasing demand for natural gas vehicles and the rising urban population will help to boost the global liquid natural gas market in the forecasted time period. Liquefied Natural Gas (LNG) is a liquid form of natural gas, which is composed mainly of methane and other gases such as Propane, Ethane, Butane, and Nitrogen. LNG liquefaction is a process in which Natural Gas is transformed into Liquefied Natural Gas by cooling it in a liquefaction plant which makes it more proficient to transport. It is used in various industries such as construction & dairy products, food processing, manufacturing, furnaces, fluid bed dryers, mining, power generation sector and rotary kilns. Due to low emission rate of carbon, it is also used as alternative fuels in many modes of transports such as rails, trucks ships (ferries), and natural gas vehicles and is also used by domestic users for cooking & heating purposes.
The market study is being classified by Type (High-calorific and Low-calorific), by Application (Heavy-duty Vehicles, Electric Power Generation, Marine Transport and Mining and Industrial) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Liquid Natural Gas market throughout the predicted period.
BP (United Kingdom), Shell (Netherlands), Chevron (United States), Exxon Mobil (United States), Total (France), PetroChina (China), Equinor (Norway), Sinopec (China), Gazprom (Russia) and Woodside Petroleum Ltd. (Australia) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Apache Corporation (United States), Kinder Morgan Inc. (United States) and Cheniere Energy Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Liquid Natural Gas market by Type, Application and Region.
On the basis of geography, the market of Liquid 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). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 24th June 2019, Air BP and China National Aviation Fuel Group (CNAF) today announced the signing of a joint venture agreement to operate a general aviation fuel business in Southwest China, covering Sichuan Province, Guizhou Province and Chongqing Municipality.
On 1st June 2019, Chevron U.S.A. Inc. a wholly owned subsidiary of Chevron Corporation has completed the acquisition from Petrobras America Inc. of all the outstanding shares and equity interests of Pasadena Refining System, Inc. (PRSI) and PRSI Trading LLC for 350 million dollars excluding working capital.
- Government Support towards Usage of Liquid Natural Gas in Industrial Sectors
- Increasing Demand for LNG Bunkering
- Growing Demand in the Electric Power Sector
- Growing LNG Spot Market and Increasing Shift towards Modular Technology
- High Adoption in Developing Countries Due To Growing Industrial Sectors
- Increasing Liquefaction Capacity and Exports of Regional LNG Projects and Increasing LNG Imports by Developing Countries
- Expiration of Exports Contracts
- Lack of Infrastructure Facilities
- Stringent Regulations Associated With Liquid Natural Gas
Key Target AudienceSuppliers and Distributors, Industry Associations, Private and Government Research Associations, Government Regulatory Bodies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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