San Francisco, 18 February 2019: The Report Liquefied Natural Gas (LNG) Market Analysis By Application (Transportation Fuel,
Power Generation, Mining & Industrial), By Region, And Segment Forecasts,
2018 - 2025
The global Liquefied Natural Gas (LNG) Market is expected to reach USD 20.6 billion by 2025, growing at
a CAGR of 12.7%, according to a new report by Grand View Research, Inc. Rising
focus on development and expanding gas pipeline infrastructure and growing
demand for natural gas from downstream sectors is a crucial driving factor for
the industry.
Decreasing LNG prices along with execution
of favorable government rules and regulations, which are attracting FDIs &
tax schemes are also conducive to industry growth. Cumulative emphasis of
adequate support infrastructure in numerous economies is anticipated to enhance
product demand in the construction sector, since the product is used in
building equipment.
On the contrary, insufficient channel
infrastructure is supplementing demand for small scale projects to source
natural gas for key consumers in remote areas, specifically in the power
generation and industrial manufacturing verticals. Rapid urbanization,
industrialization and increasing projects supporting power, gas &
petrochemical distribution are projected to positively provide stimulus to the
industry.
Power generation accounted for 46% of the
volume share in 2016, and is anticipated to grow at over 6.9% CAGR from 2017 to
2025. Power generation plants are gradually shifting from naphtha-based
feedstock towards LNG in order to provide cost-competitiveness and enhanced
delivery times while also receiving support in the form of favorable
regulations encouraging these trends.
Access Research Report of LNG Market @ www.grandviewresearch.com/industry-analysis/liquefied-natural-gas-lng-market
Further key findings from the report suggest:
· The global LNG market demand exceeded 265
million tons in 2016 and is expected to grow at a CAGR of 6.5% from 2017 to
2025
· Transportation is emerged as the largest
application in 2016 and is estimated to generate revenue over USD 3.6m billion
by 2025 owing to widespread adoption of sustainable resources in place of
conventional fuels
· Prices in North America are expected to be
dependent upon the Henry Hub model, while demand in South Africa is likely to
continue being unpredictable on account of civil unrest and fluctuating supply
dynamics
· Europe is likely to witness moderate
progress with rising competition from Russia and Norwegian piped natural gas
(PNG). Africa is expected to remain a rapidly developed market with new
production strategies in the Cameroon and development anticipated in Mozambique.
· Asia Pacific consumption patterns are
projected to remain exponentially high over the next decade owing to various
developments across emerging economies, especially in the power generation and
transportation market. The region is expected to grow at a CAGR of 6.5% from
2016 to 2025
· Key players including Chevron, Exxon Mobil,
PetroChina, Total SA, Stat oil, Eni S.p.A., BP plc, Royal Dutch Shell, Conoco
Philips and CPCC dominated the sector accounting for over 60% of the total
volume in 2016
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/construction-and-utilities
Grand View Research has segmented the
global liquefied natural gas market on the basis of application, and region:
LNG Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
·
Power Generation
·
Transportation Fuel
·
Mining & Industrial Applications
LNG Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
UAE
o
Qatar
Access Press Release of
LNG Market@ www.grandviewresearch.com/press-release/global-liquefied-natural-gas-lng-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
