Planned LNG

Planned LNG Market to Partake Significant Development During 2030

PORTLAND, OREGON, UNITED STATES, September 4, 2023/EINPresswire.com/ -- The global planned LNG market is witnessing significant growth, owing to increasing demand for LNG. The demand for LNG is increasing in Asia-Pacific, owing to factors such as the presence of emerging economies, growing populations, and a rise in gas-fired power requirements and others. This increase in demand for LNG in Asia-Pacific correspondingly increases the regasification capacity at a considerable pace. Some of the countries where the liquefaction capacity is higher in Asia-Pacific are Australia, Indonesia, and Malaysia. Moreover, the U.S. is increasing its liquefaction capacity at a considerable pace. The addition of liquefaction capacity in 2019 helped the U.S. to become the third-largest LNG producer in the world overtaking Russia, and Malaysia. The planned LNG market was valued at $102.2 billion in 2019 and is projected to reach $58.9 billion by 2030, growing at a CAGR of 9.9% from 2020 to 2030. The inclusion of regasification and liquefaction capacity at LNG terminals is known as planned LNG.

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The planned LNG market is analyzed on the basis of three segments. The segments are technology, end-user industry, and region. Based on the technology, the market is categorized into liquefaction and regasification. On the basis of end-use industry, the market is classified into residential, commercial, and industrial. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Planned LNG market share is analyzed across all main regions.

On, the basis of technology, liquefaction has garnered the highest share of the market in 2019 in terms of volume as well as revenue. This is attributed to factors such as an increase in new export terminals or expansion of existing capacity of export terminals in major exporting countries such as the U.S., Qatar, Australia, and others.

On, the basis of the end-use industry, industrial has garnered the highest share of the market in 2019 in terms of volume as well as revenue. This is attributed to factors such as the rise in demand for energy from the industrial sector in developed and developing regions.

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The analysis covers in-depth information on the major industry participants. The key players operating and profiled in the market include Royal Dutch Shell plc, Exxon Mobil Corporation, LNG Croatia LLC, Energy Transfer LP, Cheniere Energy, Inc., Freeport LNG, PETROBRAS, Sempra Energy, ConocoPhillips Company, Equinor ASA, Korea Gas Corporation, Venture Global LNG, and Gasum.

Other players in the value chain of the market include Tokyo Gas Co Ltd, Hitachi, Petronet LNG Ltd, Samsung C&T Corporation CTCI Resources Engineering Inc., and others.

Key Findings Of The Study

- The planned LNG market is analyzed from 2019 to 2027
- Depending on the technology, the liquefaction segment is projected to grow at the highest CAGR of nearly 28.9%, in terms of revenue, during the forecast period
- Region-wise, North America is expected to register a CAGR of nearly 20.0%, in terms of revenue, in the coming future
- By end-use industry, the industrial segment is estimated to exhibit a CAGR of 9.7%, in terms of revenue
- Asia-Pacific dominated the planned LNG market with a share of over 40.0% in 2019, in terms of volume
- A comprehensive analysis of the factors that drive and restrain the market growth is provided in the report
- The qualitative data in this report aims at the market dynamics, planned LNG market trends, and developments in the industry
- The planned LNG market size is provided in terms of volume and revenue

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