The global small-scale LNG market size is projected to reach USD 2.6 billion by 2025, at a CAGR of 2.6% during the forecast period. It is mainly driven by the economies of scale in the design and construction of facilities. Small-scale LNG has gained attractiveness in the recent years, due to several factors including environmental emission policies, increasing LNG demand from remote locations in applications, such as industrial & power, and the ability to transport LNG over long distances without the need for heavy investment in pipelines, land acquisition across multiple states or countries, and the operational costs of such pipelines.

Based on type, the liquefaction segment is projected to account for the larger share in terms of value during the forecast period. The growth of the segment is attributed mainly to the increasing export of LNG, which requires liquefaction before it can be transported from one port to another. The factors mentioned above will drive demand for small-scale LNG during the forecast period.

Get an Exclusive PDF Sample Copy of This Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226707057

Based on application, the heavy-duty vehicles segment will account for the largest share, in terms of value, during the forecast period. The growth of the segment is attributed to the increasing use of LNG as fuel in heavy-duty vehicles and long trucks in APAC, especially in China, as it reduces carbon emission and thus has environmental benefits.

APAC is the largest and fastest-growing market for small-scale LNG. The growth in the APAC region can be attributed to an increase in the consumption of small-scale LNG. The increasing demand for small-scale LNG in heavy-duty vehicles, industrial, and power applications supports market growth in the region. There are significant opportunities for the island-based LNG (small-scale LNG terminals located at islands) segment to grow, particularly in industrial and power applications, in Indonesia, the Philippines, Myanmar, among others. In Southeast Asia, players such as PERTAMINA (Indonesia) and Energy World Corporation (EWC) are investing in the development of small-scale LNG facilities. The rapidly growing demand for small-scale LNG applications, competitive manufacturing costs, and high economic growth rates are the favorable forces driving the small-scale LNG market in this region.

The rising demand for LNG from different end-use applications such as heavy-duty vehicles, and industrial & power are propelling the growth of the small-scale LNG market globally. However, factors such as the global economic slowdown and limited receiving terminal infrastructure in APAC could affect market growth.

The Linde Group (Germany), Wartsila Corporation (Finland), Honeywell International Inc. (US), General Electric (US), Engie (France), and Gazprom (Russia) are some of the key players dealing in small-scale LNG globally. These companies have focused on expansion, agreements, joint ventures, and mergers & acquisition as their key business strategies to be competitive in the market.

Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=226707057

The Linde Group was selected as licenser by Gazprom and Project EPC contractor SRDI Oil & Gas Peton for a mid-scale LNG production, storage, and shipment complex in Portovaya, located in Russia at the Baltic Sea. The plant liquefies natural gas coming from the nearby compressor station, which is part of Gazprom’s Nord Stream pipeline.

Wartsila Corporation, one of the leading companies operating in the small-scale LNG market, acquired Trident BV, a Netherlands-based company specialized in underwater ship maintenance, inspection, and repair services. The acquisition enables Wartsila to become a leading global operator in the underwater services market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441