Global Small-Scale LNG Market Overview:
The small-scale LNG equipment mainly refers to a ship-type machine capable of equipping and storing LNG with a capacity of less than 50,000 cubic meters, including small-scale LNG carriers, multi-purpose gas carriers, LNG bunkering vessels, and small floating LNG storage and offloading.
Global Small-Scale LNG Market Insights
The global small-scale LNG
market expected to increase market value by USD 4.78 billion with an intensifying CAGR in the forecast period from 2020-2027. The market demand for small-scale LNG is surging due to the number of multi-purpose gas carriers, and LNG bunkering vessels has increased significantly, and small-scale FSRU/FSU and small-scale FLNG have grown from scratch. Small LNG carriers are mainly responsible for short and medium-range LNG transportation, including large-scale LNG carriers’ second-way transshipment and regional LNG trade market transportation. End-users include LNG bunkering stations, gas-fired power stations, chemical plants, and LNG supply in remote areas. For small LNG carriers, the favorable factors include the continuous expansion of LNG consumption fields and the rapid growth of global and regional trade. Small LNG carriers have become an essential link for the LNG industry chain extension, which has also attracted the capital market. Moreover, more and more LNG used as fuel for motor vehicles, more isolated island areas, or remote areas (these areas often lack gas pipeline infrastructure and cannot obtain a unified energy supply) use LNG as the preferred fuel. Thus, small-scale LNG projects in the global LNG market have developed rapidly. Besides, many countries are now using LNG as an energy source to replace oil and coal, driving demand growth. Simultaneously, as more projects put into operation, the supply of liquefied natural gas is also increasing.
Reduce Environmental pollution
In the face of the severely increasing pollution of the ecological environment, to optimize the energy consumption structure, improve the atmospheric environment, and achieve a sustainable economic development strategy, people have chosen natural gas as a clean, efficient, and ecological high-quality energy and fuel. Now, whether it is industrial or civil, it is increasingly dependent on natural gas. Liquefied natural gas (LNG) is the liquid form of natural gas.
Clean Energy Source
With the improvement of residents’ living standards, residents in small and medium-sized cities and towns prefer to use clean energy. Therefore, Clean energy is now receiving much attention. LNG gasification station has a better economy than pipeline gas. LNG gasification station used as a gas source for residents in small and medium-sized towns; besides, it can also apply for business, the life of institutions, and the heating of users.
By Type Segmental Analysis
Based on the type, the small-scale LNG market segmented into Liquefaction Terminal, Regasification Terminal. The liquefaction terminal segment estimated to dominate the maximum share of the global small-scale LNG market. It is mainly due to the increasing liquefaction terminal worldwide that is rising the demand for small-scale LNG. Moreover, the growing export of LNG helps in transporting liquefaction from one port to another.
By Mode of Supply Segmental Analysis
Based on the supply mode, the global small-scale LNG market classified into Truck, Tran-shipment and Bunkering, Pipeline, and Rail. The truck segment contributes the largest share in the global small-scale LNG market. Transporting LNG through truck is a cost-effective and safest option. It is mainly due to LNG reduces greenhouse emissions and has massive domestic supplies. Also, LNG is cheap fuel and gives the potential to reduce shipping cost and operational cost.
By Application Segmental Analysis
Based on the application, the global small-scale LNG market categorized into Transportation, Industrial Feedstock, Power Generation, Other. The power generation segment dominates the market share for the global small-scale LNG market. The emerging demand for the small-scale LNG for addressing off-grid power generation for industrial and commercial purposes is due to the zero-greenhouse emission property. It is much cheaper than other fuels.
By Infrastructure Segmental Analysis
Based on the infrastructure, the global small-scale LNG market segmented into truck fueling Stations, Bunkering Vessels, Bunker Barge, Bunkering Terminals, Storage Hubs, LNG Storage, Regas Facilities, Truck-To-Ship Bunkering, LNG Trailers. The truck fueling stations segment dominated the largest segment for the global small-scale LNG market. It is mainly due to the upcoming infrastructure projects of sea and river small scale LNG demand is growing. The use of truck fueling stations is also rising as it can reduce the emission of gas from trucks compared to gasoline and diesel.
By Region Segmental Analysis
Based on geography, the global small-scale LNG market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world’s fastest-growing global small-scale LNG market, accounting for the largest share. It is mainly due to the emerging use of LNG in various applications, increasing disposable income, rising awareness for the adoption of cleaner fuel are fueling the market share of small-scale LNG in the Asia Pacific.
Companies such as Guanghui Energy, Gasnor, Kunlun Energy, Xilan Natural Gas, Shaanxi Yanchang Petroleum, Skangas, Hanas, Yuanheng Energy, China National Coal Group, Hebei Huaqi Natural Gas, Statoil, Nippon Gas, Engie, PetroChina, Linde, CNOOC, and others are key players in the global small-scale LNG market.
- Market research and consulting firms
- Industry associations
- Global small-scale LNG manufacturing companies
- Research organizations and consulting companies’ small-scale LNG
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling By Type
By Mode of Supply
- Liquefaction Terminal
- Regasification Terminal
- Tran-shipment and Bunkering
- Pipeline and Rail
- Industrial Feedstock
- Power Generation
- Truck Fuelling Stations
- Bunkering Vessels
- Bunker Barge
- Bunkering Terminals
- Storage Hubs
- LNG Storage
- Regas Facilities
- Truck-To-Ship Bunkering
- LNG Trailers
- North America
- Asia Pacific
- South America
- Middle East & Africa