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Small-Scale Liquefied Natural Gas (LNG) Market Size By Type (Liquefaction Terminal and Regasification Terminal), By Mode of Supply (Trucks, Shipment and Bunkering, Rail Tanks, Pipeline, and Others), By Storage tank Capacity (Atmospheric, Pressurized and Floating Storage (FSU)), By Application (Transportation, Heavy-Duty Vehicles, Industrial and Power, and Others), Regions, Segmentation, and Projection till 2029

CAGR: 14.4%Current Market Size: USD 7.04 BillionFastest Growing Region: North America

Largest Market: APACProjection Time: 2022-2029Base Year: 2021

Small-Scale Liquefied Natural Gas (LNG) Market- Market Overview:

The Global Small-Scale Liquefied Natural Gas (LNG) Market is expected to grow from USD 7.04 Billion in 2021 to USD 20.65 Billion by 2029, at a CAGR of 14.4% during the Projection period 2022-2029. The need for greener and cleaner fuels is rising, and liquefied natural gas (LNG) is becoming a more popular ship fuel than heavy fuel oil, marine gas oil, and diesel oil.

Liquefied natural gas (LNG) produced on a small scale is processed in industrial facilities with constrained capacities. After being cooled to incredibly low temperatures, the gas is changed into an odorless, colorless liquid that can be re-gasified for various uses. Small-scale LNG is frequently used to satisfy off-grid power generating needs in remote industrial and residential complexes since it is more environmentally friendly than oil and diesel. Additionally, it is widely used as a heating fuel, an industrial feedstock, and a transportation fuel in the industrial, commercial, and residential sectors. Since liquefied natural gas (LNG) has complete combustion and produces fewer carbon emissions than previously used fuel sources, there has been a significant transition in recent years. The Energy Information Administration reports that in 2016, natural gas eclipsed coal as the most popular way to generate energy in the United States. As a result of this continuing during the projection period and the anticipated increase in the nation's power demand, gas power plants would be improved, further increasing the demand for LNG. Small-scale LNG production and distribution are typically understood to cover everything from liquefaction plants down to regasification units. Anything in the LNG sector more minor than the standard sizes used now falls within the term. To meet off-grid demand and expand markets that are too small for regular suppliers, small-scale LNG is frequently deployed. LNG can be transported in smaller volumes for power in developing markets. Small-scale businesses also provide transportation-related services to the rail, trucking, and maritime industries.

Sample Request: - Global Small-Scale Liquefied Natural Gas (LNG) Market

Market Dynamics:

Drivers:                          

  • High Demand For Small-Scale Liquefied Natural Gas (LNG)

The increasing demand for energy sources that are both economical and efficient in terms of energy use is one of the main factors fueling the market's expansion. Additionally, the product's widespread acceptance in transportation is accelerating market expansion. The requirement for liquefied natural gas has increased due to the rising energy demand, leading to more LNG being produced. As a result of government initiatives to boost rural electrification and the abundance of distant places without electricity, demand for liquefied natural gas has surged. The market for small-scale liquefied natural gas will continue to grow steadily due to the quick industrialization and high demand for natural gas as a transportation fuel. Additionally, the drop in natural gas prices and fluctuation in crude oil prices was brought on by the overproduction of crude oil.

Restraints:                                             

  • Expensive Supply Chain

The pricey supply chain will hamper the expansion of the small-scale liquefied natural gas (LNG) business. Additionally, the small-scale liquefied natural gas (LNG) industry would suffer from the high per-KG operating costs compared to mid-size LNG and large-size LNG.

Opportunities:

  • Integration of Technologies and Government Policies

In addition, over the Projection period of 2022–2029, the market players will benefit from the incorporation of new technology, rising investments, and the adoption of favorable government policies encouraging the use of liquefied natural gas (LNG). The future expansion of the small-scale liquefied natural gas (LNG) market will also be aided by the ease with which small-scale reserve sites can be established.

Challenges                                     

  • Supply Chain Disruptions

As a result, this will hinder the growth rate of the small-scale liquefied natural gas (LNG) market. Additionally, the worldwide small-scale liquefied natural gas (LNG) industry is anticipated to have slow growth due to the depletion of natural resources.

Segmentation Analysis:

The global small-scale liquefied natural gas (LNG) Market has been segmented based on type, mode of supply, storage tank capacity, application, and regions.

By Type                                                                                              

The type segment includes the Liquefaction Terminal and Regasification Terminal. The liquefaction terminal segment led the largest share of the Small-Scale Liquefied Natural Gas (LNG) Market with a market share of around 60.2% in 2021. The three firms with the highest small-scale LNG liquefaction capabilities globally throughout the Projection period are Fortress Investment Group, Gazprom, and Shaanxi Gas Group Co Ltd. By 2023; these will have 4,240, 2,050, and 1,400 ktpa, respectively. By 2023, the proposed and announced facilities Browntown and Browntown II in the US are expected to have the largest small-scale LNG liquefaction capacities worldwide, each with 2,120 ktpa, followed by Portovaya in Russia with 1,500 ktpa.

Small-Scale Liquefied Natural Gas (LNG) Market- By Type

By Mode of Supply        

The mode of supply segment includes Trucks, Shipment and Bunkering, Rail Tanks, pipelines,  and Others. The shipment and bunkering segment led the Small-Scale Liquefied Natural Gas (LNG) Market with a market share of around 32.5% in 2021. The most popular type of mode of supply is shipment and bunkering. Ships are mostly used in the transportation process, which increases this segment.

By Application                                                                                 

The application segment includes Transportation, Heavy-Duty Vehicles, Industrial and Power, and Others. The transportation segment led the Small-Scale Liquefied Natural Gas (LNG) Market with a market share of around 37.9% in 2021. Most often, small-scale liquefied natural gas is utilized for transportation. It is the most used fuel in ships, and as we know, ships are widely used for transportation from one country to another.

By Regional Analysis:

The regions analyzed for the Small-Scale Liquefied Natural Gas (LNG) Market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia - Pacific region dominated the Small-Scale Liquefied Natural Gas (LNG) Market and held a 39.2% share of the market revenue in 2021.

  • Asia- Pacific region witnessed a major share. The expansion of the Small-Scale Liquefied Natural Gas (LNG) Market in the region is mostly due to factors like the rise in the number of transportation and the increased use of liquefied natural gas. Because of rising customer awareness, corporate expansion, and demand for small-scale LNG in regional transportation, The Asia Pacific region dominates the market due to the significant presence of fiber cement Small-Scale Liquefied Natural Gas (LNG) market players in the area. In addition, the region's need is increased by the high demand for the development of homes and businesses.
  • North America is expected to witness a considerable growth rate during the Projection period. Due to the rising small-scale LNG consumption, the region's high concentration of natural gas production facilities, and the accessibility of its gas terminals, North America is anticipated to have profitable growth between 2022 and 2029. Due to the strong demand for fiber cement Small-Scale Liquefied Natural Gas (LNG) in the area, the market is growing.

Country Analysis:

  • Germany

Germany's Small-Scale Liquefied Natural Gas (LNG) Market size was valued at USD 0.24 billion in 2021 and is expected to reach USD 0.67 billion by 2029, at a CAGR of 13.8% from 2022 to 2029. Germany has one of the leading small scare liquefied gas in Europe. In addition, Germany's transportation sector is the country's most innovative industry, which boosts the demand for transportation for several kinds of stuff.

  • China

China Small-Scale Liquefied Natural Gas (LNG) Market size was valued at USD 0.53 billion in 2021 and is expected to reach USD 1.65 billion by 2029, at a CAGR of 15.3% from 2022 to 2029.  China's growing population and improved standard of living have boosted the demand for small-scale liquefied natural gas. One of the main factors contributing to China's growing liquefied natural gas use is its growing population, which also boosts demand for small-scale Liquefied Natural Gas (LNG).

  • India

India's Small-Scale Liquefied Natural Gas (LNG) Market size was valued at USD 0.51 billion in 2021 and is expected to reach USD 1.54 billion by 2029, at a CAGR of 14.9% from 2022 to 2029.  India is one of the strongest growing economies in Asia. The factors, including increasing population, increasing disposable income, and changing lifestyles, have driven the growth of the Indian Small-Scale Liquefied Natural Gas (LNG) Market. The need for liquefied natural gas to maintain the growth of the economy and market is driven by the region's expanding transportation market, fueling the market for small-scale liquefied natural gas.

Key Industry Players Analysis:                                                     

To increase their market position in the global Small-Scale Liquefied Natural Gas (LNG) business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

  • Gazprom
  • Engie
  • Honeywell International Inc.
  • Wärtsilä
  • Linde plc
  • Gasum Ltd.,
  • IHI Corporation
  • Excelerate Energy L.P
  • Prometheus Fuels
  • Cryostar
  • General Electric
  • Novatek
  • Engie
  • NYK Line
  • Mitsui O.S.K.Lines
  • Teekay Corporation
  • Kawasaki Heavy Industries, Ltd.

Latest Development:

  • In August 2020, According to Wipro Limited, a top global provider of information technology, consulting, and business process services, Uniper Global Commodities SE and its 100% LNG-for-trucks subsidiary Liqvis GmbH will implement a blockchain-based small-scale liquefied natural gas (ssLNG) trading/fulfillment platform. Uniper SE is a sizable international energy company with its corporate headquarters in Germany.
  • In November 2020, FGEN LNG, a First Gen Corporation division, looked into the L.N.G. development at The First Philippine Industrial Park. (FPIP). Trucks and concentrated shielded compartments could supply FPIP with LNG at FGEN LNG's interim offshore LNG plant. This should aid the market's growth.

Report Metrics

Report Attribute 

Details

Study Period

2021-2029

Base year

2021  

CAGR (%)

14.4%

Market Size

7.04 Billion 2021

Projection period

2022-2029

Projection unit

Value (USD)

Segments covered

By Type, By Mode of Supply, By Storage tank Capacity, By Application

Report Scope

Revenue Projection, competitive landscape, company ranking, growth factors, and trends

Companies covered

Gazprom, Engie, Honeywell International Inc., Wärtsilä, Linde plc, Gasum Ltd., IHI Corporation, Excelerate Energy L.P, Prometheus Fuels, Cryostar, General Electric, Novatek, Engie, NYK Line, Mitsui O.S.K.Lines, Teekay Corporation, Hyundai Heavy Industries Co., Ltd., Kawasaki Heavy Industries, Ltd., and among others.

By Type

  • Liquefaction Terminal
  • Regasification Terminal

By Mode of Supply

  • Trucks
  • Shipment and Bunkering
  • Rail Tanks
  • Pipeline
  • Others

 By Storage tank Capacity

  • Atmospheric
  • Pressurized
  • Floating Storage (FSU)

By Application

  • Transportation
  • Heavy-Duty Vehicles
  • Industrial and Power
  • Others

Regional scope

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Scope of the Report

Global Small-Scale Liquefied Natural Gas (LNG) Market by Type:

  • Liquefaction Terminal
  • Regasification Terminal

Global Small-Scale Liquefied Natural Gas (LNG) Market by Mode of Supply:

  • Trucks
  • Shipment and Bunkering
  • Rail Tanks
  • Pipeline
  • Others

Global Small-Scale Liquefied Natural Gas (LNG) Market by Storage tank Capacity:

  • Atmospheric
  • Pressurized
  • Floating Storage (FSU)

Global Small-Scale Liquefied Natural Gas (LNG) Market by Application:

  • Transportation
  • Heavy-Duty Vehicles
  • Industrial and Power
  • Others

Global Small-Scale Liquefied Natural Gas (LNG) Market by Region:

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
    • Brazil
    • Peru
  • Middle East and Africa
    • UAE
    • South Africa
    • Saudi Arabia

Frequently Asked Questions

What was the estimated CAGR value of the Small-Scale Liquefied Natural Gas (LNG) Market?

The estimated CAGR value of the global Small-Scale Liquefied Natural Gas (LNG) Market was 14.4%.

What was the market size of the Small-Scale Liquefied Natural Gas (LNG) Market in 2021?

Global Small-Scale Liquefied Natural Gas (LNG) Market size was USD 7.04 billion in 2021.

Which are the leading market players active in the Small-Scale Liquefied Natural Gas (LNG) Market?

Leading market players active in the global Small-Scale Liquefied Natural Gas (LNG) Market are Gazprom, Engie, Honeywell International Inc., W�rtsil�, Linde plc, Gasum Ltd., IHI Corporation, Excelerate Energy L.P, Prometheus Fuels, Cryostar, General Electric, Novatek, Engie, NYK Line, Mitsui O.S.K.Lines, Teekay Corporation, Hyundai Heavy Industries Co., Ltd., Kawasaki Heavy Industries, Ltd., and among others.

What are upcoming trends in the Small-Scale Liquefied Natural Gas (LNG) Market?

The need for greener and cleaner fuels is rising, and liquefied natural gas (LNG) is becoming a more popular ship fuel than heavy fuel oil, marine gas oil, and diesel oil around the globe are projected to influence the market in the upcoming years.

How the company profile has been selected?

Based on the company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance the companies are selected.