ALL >> Business >> View Article
Liquefied Natural Gas (lng) Market Is Estimated To Grow At A Cagr Of 5.00% By 2030
According to ChemAnalyst report, “Liquefied Natural Gas Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Liquefied Natural Gas (LNG) market has witnessed significant growth as it reached 390 million tonnes in 2020 and is anticipated to achieve a healthy global CAGR of 5.00% in the forecast period until 2030. Due to rapid industrialization and urbanization, the demand of natural gas is rapidly increasing owing to the growing number of power related construction projects, which is likely to boost the Liquefied Natural Gas market across the globe in the span of next ten years. Being cost effective, safe, and the cleanest-burning fossil fuel along with having numerous environmental advantages, it is expected to accelerate the demand of Liquefied Natural Gas globally, which will further augment the Liquefied Natural Gas market in the future.
Read Full Report Here: https://www.chemanalyst.com/industry-report/liquefied-natural-gas-lng-market-636
... Natural Gas (LNG) is a liquid form of natural gas which is cooled down at approximately -162ºC in temperature. It is extensively used for the transportation and storage purposes. Liquefied Natural Gas is generally colorless, odorless, non-corrosive, and significantly non-toxic by nature. The natural gas liquefaction process involves the removal of certain components including hydrogen sulphide, helium, dust, benzene, water, heavy hydrocarbons, carbon dioxide, and other components that can freeze under the low temperatures, which is then condensed into liquid by cooling it to −260° Fahrenheit.
Read Free Sample Report Online: https://www.chemanalyst.com/ChemAnalyst/RequestForm
The Advancements made in the cryogenic storage, production processes, and transportation effectively created the opportunities to commercialize NG into the market across the globe. Furthermore, the developments in the Liquefied Natural Gas storage and shipment, also introduced a reliability in connections and networks which was once impossible. The arrival of large-scale cryogenic storages made it possible to create long term gas storage reserves. These reserves of Liquefied Gas have become a crucial means for networks to handle local peak requirements. Liquefied Natural Gas is widely used to heat homes, run highly efficient electric power plants, manufacture chemicals and fertilizers, and fuel trucks, cruise ships, cargo vessels, and others. Liquefied Natural Gas is primarily used for the storage and transportation of the natural gas from the source to a destination. Whereas, on the large scale, Shipment of natural gas can be done across the oceans. LNG is expected to become a mainstream fuel for transportation needs in coming years. It is currently being evaluated for off-road, over-the-road trucking, marine, and train applications.
Global Liquefied Natural Gas Market is segmented on the basis of application, end, sales channel and region. Depending upon the applications, the Liquefied Natural Gas market is segregated into transportation fuel, power generation, and others. The transportation fuel segment holds the major share of the LNG market owing to the increasing usage of LNG as a fuel in vehicles especially in the APAC region. As China is the major leader for using LNG vehicles, followed by Japan, which is the biggest exporter of LNG, surging demand for LNG in the APAC region is likely to accelerate the LNG Market across the globe over the next few years. Growing demand for Liquefied Natural Gas for the power generation purposes as it is piped into homes, industries, and businesses, where it is burnt to generate electricity, is expected the bolster the market of LNG around the world until 2030. A number of power generation projects especially in emerging economies including China, India, and others, will further drive the demand of LNG in the future. A substantial fall in the prices, as well as fuel switching costs, are propelling the industry growth in the power generation and transportation applications.
The Liquefied Natural Gas market was negatively affected across the globe due to the spread of coronavirus. Government authorities in emerging countries caused countrywide lockdowns and strict regulations, which led to the severe decline in demand of Liquefied Natural Gas during the first of 2020. Power generation facilities were drastically affected due to the coronavirus pandemic. Halt in the transportation services resulted in zero shipment of natural gas across remote locations during the lockdown. Once the operation resumes and the lockdowns are uplifted, the demand for LNG by major end-use industries is likely to boost the global market in the future.
Region wise, the APAC region dominates the Liquefied Natural Gas market across the globe owing to the continuously rising investments in LNG infrastructure development and increasing awareness about the benefits of eco-friendly products across several end-use industries. The demand of LNG is expected to surge in India due to the increasing consumption of gas-based facilities along with the robust growth of economy, which will boost the LNG market in the APAC region.
Liquefied Natural Gas Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in Liquefied Natural Gas market include Total, Chevron Corporation, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Petronet LNG Limited, Royal Dutch Shell, China National Petroleum Corporation, Petroliam Nasional Berhad (PETRONAS), Snam SPA, PetroChina Company Limited, Equinor ASA, Gazprom, Eni SpA, ConocoPhillips Company, and Others.
“Rapidly growing demand of Liquefied Natural Gas for transporting fuel or natural gas across remote locations and different countries is expected to boost the LNG across the globe in the forecast period until 2030. A number of initiatives for the construction of several power generation projects in emerging countries such as China and India are likely to increase the demand of Liquefied Natural Gas, which will further accelerate the LNG market globally in the next few years. Rising investments in the development of LNG infrastructures and increasing awareness regarding the benefits of eco-friendly products across various end-use industries will further drive the LNG market in upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
Browse Related Reports
Liquefied Petroleum Gas (LPG) Market Analysis Plant Capacity, Production, Operating Efficiency, Demand & Supply, End User Industries, Distribution Channel, Regional Demand, 2015-2030
Specialty Gases Market By Application, By Type, By Region, Competition Forecast and Opportunities, 2015-2030
ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.
ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.
ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.
For more information, please visit us at www.chemanalyst.com
B-44 Sector-57 Noida,
National Capital Region
ChemAnalyst is a subscription based Digital Platform covering in depth data and analysis on 250+ Chemicals. Petrochemicals, Polymer and Resin, Elastomer and Rubber, Bulk Chemicals and Fertilizer, Feedstock and Intermediates, Specialty Chemicals. ChemAnalyst is provide latest chemical price, weekly and monthly prices report of chemicals news and market analysis
Business Articles1. 7 Signs You Need To Restore Your Sash Windows
Author: Sash Windows
2. How Can You Scale & Automate Your E-commerce Business?
3. Uae Anti-money Laundering Legislation – What You Should Know
Author: Haroon Juma
4. Acetonitrile Uses, Storage, And More 101
Author: Magan Bhadani
5. 5 Tips On How To Prepare Your Home For Air Conditioning Installation
Author: Air Conditioning
6. 6 Reasons Why You Should Hire A Professional Food Photographer
Author: kanika panchal
7. How To Get Your Sa302 Tax Calculation & Tax Overview
Author: Holland Emery is a professional tax accountant.
8. Management By Exception: A Path Towards Touchless Procurement For Manufacturers
Author: conver gentis
9. Always Outsource The Trusted Book Keeping Services
Author: Adam Jones
10. Ever Green Scope Of Translation Services
Author: Steve Smith
11. Spot Welding Nickel Strips
Author: Amit Shah
12. Stainless Steel Seamless Pipes Manufacturers In India
Author: Ashwin Bhansali
13. Why You Require Feeralloys As A Steelmaking Company
Author: Anindya Bhaumik
14. Attractive Features Of Refractories And Their Manufacturers
Author: Anindya Bhaumik
15. Branding Without A Website Is Basically No Branding At All
Author: Arun Kumar