Pune, India, August, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Small Scale LNG Market Research Report.
Small Scale LNG Market – Overview
As liquefied natural gas is a clean resource for fossil fuel which has the lowest emission level of pollutants, the market for it is growing at an accelerated rate citing concerns related to global warming worldwide. Market reports associated with the energy and power sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to develop at a 2.5 percent CAGR in the forecast period.
The rising demand being observed globally for sustainable fuel sources is adding to the overall potential of the market growth. The key demand for LNG is stemming from the fertilizer industry, power plants, transportation, cooking fueling and heating for industrial, residential & commercial sectors will power the growth of the market intensively in the forecast period.
The small-scale LNG market has been segmented on the basis of type, application, mode of supply, and region. On the basis of type, the market is segmented into regasification and liquefaction terminals. The segmentation on the basis of mode of supply consists os segments such as Trans-shipment and Bunkering, Trucks, Captive Consumption through Pipeline & Rail. The trans-shipment and Bunkering market is well-known in the market owing to the flourishing shipping industry. On the basis of applications, the market is segmented as utilities, industrial & commercial, residential, marine, and transportation.
The market for Small Scale LNG is anticipated to observe exceptional growth through the forecast period. The market is anticipated to develop in the Asia Pacific region and African regions owing to the escalating demand for natural gas as fuel for the automobile and power industry. Moreover, the regions are witnessing a surge in projects of regasification and liquefaction terminal. For example, South Korea and Japan are growing their liquefaction capacity, as a result, driving the market. Egypt has appeared as a new importer for LNG while Mozambique has revealed a new gas field, which will fortify the nation’s position as a huge gas exporter. The European region is expected to follow the small-scale LNG market after the Asia Pacific and Africa regions. As per the European Union policies, the nations are phasing out their coal-based power plants, consequently creating a surge in demand for LNG.
The originality in products and services of the markets will alter the progression of the market significantly. The market pull and competitors’ propensities are markedly enhanced by the strategies that are being used by market contenders. The important success factors in the market are easily accomplished in the market which is adding to an elevated pace of growth in the forecast period. The heightened level of emphasis on the variation of products is growing the number of customers in the market significantly. The key competitors in the small scale LNG market are Engie SA (France), Wärtsilä Corporation (Finland), Gazprom (Russia), Honeywell International Inc. (U.S.), The Linde Group (Germany), IHI Corporation (Japan), Skangas AS (Norway), Excelerate Energy L.P (U.S), Prometheus Energy (U.S), GE Oil & Gas (U.S.),Cryostar (U.S.), and Novatek (Russia) among others.