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The global small-scale LNG market reached a value of US$ 2.3 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit stable growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Small-scale liquefied natural gas (LNG) refers to a natural gas that is present in liquefied form and is processed in industrial plants with low capacities. The gas is cooled at extremely cold temperatures and is converted into an odorless and colorless liquid that can be re-gasified for various applications. In comparison to oil and diesel, small-scale LNG is more environment-friendly and is widely utilized in addressing off-grid power generation requirements in remote industrial and residential complexes. In addition to this, it is widely used as a transportation fuel, as an industrial feedstock and for heating purposes in industrial, commercial, and residential sectors.
Rapid industrialization, along with the growing demand for energy-efficient and cost-effective energy sources, is one of the key factors driving the growth of the market. Furthermore, widespread product adoption by the transportation industry is also providing a boost to the market growth. Manufacturers of commercial vehicles are shifting toward LNG over the traditionally used fuel sources as it has complete combustion and fewer carbon emissions. In line with this, the increasing demand for power generation from underdeveloped and remote areas across the globe is creating a positive outlook for the market. Additionally, increasing utilization of LNG as ship fuel over heavy fuel oil, marine gas oil and diesel oil, is acting as another growth-inducing factor. Other factors, including the rising consumer inclination toward greener and cleaner fuel sources, along with increasing investments and the implementation of favorable government policies promoting the adoption of LNG, are projected to drive the market further.
Breakup by Terminal Type:
Breakup by Mode of Supply:
Breakup by Storage Tank Type:
Breakup by Application:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Dresser-Rand Group Inc. (Siemens), Engie SA, Excelerate Energy. L. P., PJSC Gazprom, General Electric, Honeywell International Inc., IHI Corporation, Linde Aktiengesellschaft, Novatek, Plum Energy LLC, Royal Dutch Shell PLC, Sofregaz, Wärtsilä Oyj Abp, etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Terminal Type, Mode of Supply, Storage Tank Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Dresser-Rand Group Inc. (Siemens), Engie SA, Excelerate Energy. L. P., PJSC Gazprom, General Electric, Honeywell International Inc., IHI Corporation, Linde Aktiengesellschaft, Novatek, Plum Energy LLC, Royal Dutch Shell PLC, Sofregaz and Wärtsilä Oyj Abp|
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Key Questions Answered in This Report:
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