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The latest report by IMARC, titled “ Small-Scale LNG Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20232028
” finds that the global small-scale LNG market reached a value of US$ 33.2 Billion in 2022.
Small-scale liquified natural gas (SSLNG) refers to the process of producing and distributing smaller fuel quantities from liquefaction plants. Also known as micro LNG, it involves the direct use of LNG in its liquid form and its introduction into the gas transmission grid than the traditional model of regasification units. Due to its flexibility, SSLNG finds demand in off-grid power generation locations and remote areas for bunkering and as fuel for heavy road transport.
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The increasing usage of LNG as fuel represents the primary growth-inducing factor bolstering the market growth. With the rising pressure on large-scale LNG plants, end users are adopting small scale LNG initiatives as they are scalable and can easily add capacity to serve increased demand while gaining supply chain synergies. This technology also offers investors more immediate and attractive returns with lower investment requirements and accelerated commissioning schedules.
Besides this, there have been growing environmental concerns and the rising inclination toward greener and cleaner fuel sources, which has encouraged governments of several nations to promote the adoption of SSLNG. Moreover, numerous manufacturers of commercial vehicles are also shifting toward LNG as it has fewer carbon emissions and complete combustion over traditionally used fuel sources. Looking forward, the market value is expected to reach US$ 51.3 Billion by 2028, exhibiting a CAGR of 7.6% during the forecast period (2023-2028).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Terminal Type Insights:
• Liquefaction Terminal
• Regasification Terminal
Mode of Supply Insights:
• Truck
• Trans-Shipment and Bunkering
• Pipeline and Rail
• Others
Storage Tank Type Insights:
• Pressurized
• Atmospheric Tank
• Floating Storage Unit (FSU)
Application Insights:
• Electrical Power Generation
• Industrial Feedstock
• Transportation
• Others
Regional Insights:
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• Dresser-Rand Group Inc. (Siemens)
• Engie SA
• Excelerate Energy. L. P.
• PJSC Gazprom
• General Electric (GE) Company
• Honeywell International Inc.
• IHI Corporation
• Linde Aktiengesellschaft
• Novatek
• Plum Energy LLC
• Royal Dutch Shell PLC
• Sofregaz SAS
• Wärtsilä Oyj Abp
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/small-scale-lng-market
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