The projected worldwide LNG market generated $ 102.5 billion in 2020 and is predicted to reach $ 58.1 billion in 2025, registering a CAGR of 9.5% from 2020 to 2025. The increase in technological advancements and the growing call for LNG from the Asia-Pacific region is driving expansion in the planned worldwide LNG market. Liquefaction and regasification terminals are further classified as onshore and offshore terminals. The planned LNG terminal reduces transportation costs. LNG is a clean fuel; therefore it is employed for long-haul vehicles. Reduces emissions compared to alternative fossil fuels. This has encouraged many fuel service providers to adopt LNG as an alternative fuel.
In turn, this drivescall for planned LNG. The inclusion of regasification and liquefaction capacity in LNG terminals is known as planned LNG. Liquefaction can be defined as the physical transformation of a gas into a liquid. This gas liquefaction is processed by compression, or by refrigeration, or both in combination. Regasification is the process of transforming liquid LNG into gaseous form. In this process, heat exchangers are employed to increase the temperature of the LNG. Liquefied natural gas (LNG) is natural gas that can be converted to a liquid state by cooling it below -163 ° C. The creation of an LNG chain involves investments in exploration and production, liquefaction, shipping, storage and regasification.
The development of unconventional gas sources, advances in offshore liquefaction technology and offshore gas discoveries, and fluctuations in crude oil supply are some of the factors driving the anticipated worldwide LNG market. The development of planned liquefaction plants and the escalating call for LNG are also contributing to the expansion of the market.
Increased exploration for shale gas has reduced dependence on natural gas imports and created a surplus for LNG exports. This, in turn, stimulates the predicted LNG market. The foreseen LNG market is predicted to experience significant expansion due to many factors such as technological advancement, escalating call for LNG from Asia-Pacific, etc. The liquefied natural gas industry is transforming with the development of technology and the emergence of new sources of call. Technological advances make LNG gas production, liquefaction, and storage feasible at sea Floating liquefaction is a relatively new technology, compared to floating regasification, which has quickly established itself on the market. Some of the factors, like LNG's price benefit over other energy sources for end-use businesses, environmental advantages, monetary systems, and others, are predicted to drive industry expansion. Additionally, an increase in regasification capabilities in the Asia-Pacific region is driving market expansion. Some of the countries where LNG call is predicted to increase are China, India and others.
The postponement of LNG projects is holding back market expansion. The escalation in the number of domestic and foreign terminals already finished, the escalation in the price of the building of LNG terminals and the storage of LNG may hinder the predicted industry for LNG. The coronavirus epidemic (COVID-19) has negatively affected the LNG industry. Most of the LNG regasification projects stopped operations during the shutdown.
Escalatingcall from different end-users such as manufacturers and retailers creates new opportunities in the coming years. Floating LNG production terminals can be parked directly above an offshore field and relocated once the field is depleted or in adverse weather conditions. Therefore, the development of floating terminals is predicted to increase the call for planned LNG terminals. Call from different kinds of end-user businesses is escalating the LNG customer base and offering lucrative opportunities in the industry.
The delay in the LNG project is one of the main factors hampering the predicted expansion of the LNG market. Most of the LNG projects were to start operations in 2020, but there is a delay due to the COVID-19 epidemic. These regions are among the main centers of call for LNG. However, China is the country most affected by coronavirus in Asia, which could affect the worldwide market.
By technology:
By technology, liquefaction gained significant market share in 2019. This is attributed to the increase in new liquefaction terminals or the expansion of liquefaction capacity in major exporting countries such as the United States, Qatar, Australia and others. Furthermore, an onshore regasification terminal accounted for the largest market share in 2019. This is attributed to factors such as long-term security of supply, higher storage capacity, lower operating expenses, etc.
By end-use industry:
Based on the end-use industry, the industrial sector obtained the largest market share in 2019. This is attributed to the increase in call for LNG from the industrial sector, due to increased concerns about pollution. For example, some countries in developed and developing regions have reduced their dependence on coal for power generation due to increased levels of pollution.
On the basis of region, Asia-Pacific had the highest share of the forecasted LNG industry in 2019. LNG regasification capacity is higher in the Asia-Pacific region due to the presence of larger countries. LNG importers such as Japan, South Korea, China and India. China is predicted to become the largest importer of LNG in the coming years, due to increased call from the industrial sector. Additionally, North America has the second-highest market share.
The United States is one of the largest exporters of LNG, due to factors such as increased natural gas production; decrease in natural gas imports through pipelines, decrease in LNG imports and expansion of the capacity of LNG export terminals. North America, Europe and Asia-Pacific are predicted to dominate the forecasted LNG market in the near future. The growing call for energy in countries such as India and China has led to the development of planned LNG terminals in various locations. Escalatingcall for natural gas, increased gas consumption for power generation and cold weather in Europe are some of the factors driving the predicted LNG market. The expansion of LNG liquefaction capacity has also led to the development of planned LNG terminals in the United States, Australia, Iran and Papua New Guinea. Increased gas discoveries and investments by foreign market players further drives the creation of planned LNG export terminals.
The difference in spot gas prices in the United States, Asia-Pacific and Europe, and the increase in shale gas drilling in the United States and Canada are driving the expansion of planned LNG export terminals. This is attributed to factors such as the drop in activity in the industrial and commercial sectors. Escalating technological advancements and growing call for LNG from the Asia-Pacific are fueling the planned worldwide LNG market expansion. North America accounted for the largest share in terms of revenue, with about half of the total worldwide LNG market share predicted in 2019. This is attributed to increased natural gas production in this region. However, LAMEA is estimated to have the fastest CAGR of 20.7% from 2020 to 2025.
Major players operating in the planned LNG market include Shell Plc, LNG Croatia LLC, Chevron Corporation, Petrobras, Southern Union Company, Corpus Christi Liquefaction, LLC, Freeport LNG Development, L.P., Sempra Energy, ConocoPhillips Co., Queensland Gas Co. Ltd, Inpex Corporation, Skangass AS, Emirates LNG LLC, Nippon Gas Co. Ltd., and Prometheus Energy Company.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Planned LNG Market, By Technology
6.1.1 Liquefaction
6.1.2 Regasification
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Planned LNG Market, By End-use Industry
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Technology
7.2.3 By End-use Industry
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Technology
7.3.3 By End-use Industry
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Technology
7.4.3 By End-use Industry
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Technology
7.5.3 By End-use Industry
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Technology
7.6.3 By End-use Industry
8. Key Player Analysis
8.1 Shell Plc
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 LNG Croatia LLC
8.3 Chevron Corporation
8.4 Petrobras
8.5 Southern Union Company
8.6 Corpus Christi Liquefaction, LLC
8.7 Freeport LNG Development
8.8 Sempra Energy
8.9 ConocoPhillips Co
8.10 Inpex Corporation
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
