Small-Scale LNG Market

Small-Scale LNG Market worth $92.8 billion by 2028

The report "Small-Scale LNG Market by Type (Liquefaction, Regasification), Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport), Mode of supply (Trucks, Trans-shipment & Bunkering) Region (North America, Europe, APAC, MEA) - Global Forecast to 2028", is projected to grow from USD 46.4 billion in 2023 to USD 92.8 billion by 2028, recording a CAGR of 14.9% during the forecast period. The small-scale LNG market is being propelled by several significant factors. First and foremost is the energy cost advantage offered by small-scale LNG solutions. Compared to other conventional fuels, LNG has a lower cost, making it an attractive option for various applications. Additionally, small-scale LNG provides environmental benefits as it emits lower greenhouse gases and pollutants compared to traditional fossil fuels. This aligns with the increasing global focus on sustainability and cleaner energy sources. Furthermore, there is a growing demand for small-scale LNG across diverse sectors such as heavy-duty vehicles, industrial and power generation, and marine transport. This demand is driven by the need for efficient and cleaner energy solutions in these industries. Altogether, the combination of energy cost advantage, environmental benefits, and expanding demand from various applications positions small-scale LNG as a key player in the energy market, shaping a more sustainable and diverse energy landscape.

Browse 298 market data Tables and 44 Figures spread through 288 Pages and in-depth TOC on "Small-Scale LNG Market by Type (Liquefaction, Regasification), Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport), Mode of supply (Trucks, Trans-shipment & Bunkering) Region (North America, Europe, APAC, MEA) - Global Forecast to 2028"
View detailed Table of Content here -

Liquefaction to dominate the global small-scale LNG market during the forecast period

The small-scale LNG industry has been segmented based on type as liquefaction and regasification. The liquefaction segment accounted for the larger share of the market in 2022. The small-scale LNG industry is experiencing significant growth, and the liquefaction segment has emerged as a dominant force within the market. This dominance can be attributed to the rising demand for LNG exports, which necessitates the liquefaction process before transportation between ports can occur. As a result, there has been a surge in the number of liquefaction terminals established worldwide to cater to this increasing demand. This trend is projected to persist and drive the demand for small-scale LNG in the foreseeable future. With the expansion of liquefaction infrastructure and the growing export opportunities, the small-scale LNG market is poised for substantial growth, providing an impetus to the overall LNG industry.

By application, Heavy-duty vehicles segment to lead the global small-scale LNG market during the forecast period

The market has been segmented based on application into heavy-duty vehicles, marine transport, industrial & power, and others. The heavy-duty vehicles segment has emerged as a key driver in the market for liquefied natural gas (LNG) as a fuel. With the increasing adoption of LNG as an alternative fuel in heavy-duty vehicles, particularly in China and European countries, this segment accounted for the largest share of the market in 2022 and is projected to witness substantial growth in the forecast period. LNG offers a viable solution for long-haul LNG-fueled trucks on a global scale. One significant factor contributing to this growth is the variability in LNG density across different saturation pressures and storage temperatures in heavy-duty vehicles. This versatility makes LNG a desirable fuel choice for a wide range of applications, leading to increased demand in the foreseeable future. As the world seeks more sustainable and cleaner energy options, the continued growth of LNG in heavy-duty vehicles showcases its potential to drive positive environmental impact and meet the evolving demands of the transportation sector.

By mode of supply, Trucks segment to lead the global small-scale LNG market during the forecast period

The trucks segment is expected to dominate the small-scale LNG (liquefied natural gas) market during the forecast period. This can be attributed to several key factors. First and foremost, the growing demand for cleaner and more sustainable fuel alternatives in the transportation sector has led to an increased adoption of LNG as a viable option for long-haul trucking. LNG offers significant environmental advantages over conventional fuels, such as reduced emissions of greenhouse gases and pollutants. Moreover, the flexibility and mobility of trucks make them well-suited for transporting LNG to various locations, including remote areas that lack pipeline infrastructure. Additionally, advancements in trucking technology, such as improved LNG storage and fueling systems, have made it easier and more efficient to transport and distribute LNG via trucks. These factors, coupled with the expanding LNG infrastructure and a supportive regulatory environment, are expected to drive the growth of the Trucks segment in the small-scale LNG market, making it the leading mode of supply in the industry.

By region, Asia Pacific is expected to have the largest market size in the global small-scale LNG market during the forecast period

The Asia Pacific region is set to dominate the global small-scale LNG industry in the forecast period due to several key factors. One of the primary drivers of this growth is the increasing demand for small-scale LNG in the heavy-duty vehicles, industrial, and power sectors. The region boasts a robust industrial base, favorable government policies, and low labor costs, creating an attractive environment for market players. Additionally, the rising demand for small-scale LNG in the Asia Pacific region further bolsters the market, drawing major investments from key industry players. As a result, the region is experiencing a surge in infrastructure development, technological advancements, and strategic collaborations, all of which contribute to the region's position as a leader in the global small-scale LNG industry.

Companies such Linde plc (US), Wartsila Corporation (Finland), Honeywell International Inc. (US), Shell plc (UK), Air Products & Chemicals, Inc. (US), ENGIE S.A (France), Chart Industries, Inc. (US), Gasum oy (Finland), Sofregaz (France), and Excelerate Energy Inc (US) are the key players operating in the small-scale LNG market. Expansions, contracts, new product developments, and acquisitions are some of the major strategies adopted by these key players to enhance their positions in the small-scale LNG market.

Don’t miss out on business opportunities in Small-Scale LNG Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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 painpoints 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 MicroQuadrants (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, "Knowledgestore" 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.

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

Small-Scale LNG Market Size,  Share & Growth Report
Report Code
CH 5185
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Small-Scale LNG Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets