Small-scale liquefied natural gas (LNG) is liquefied natural gas that is processed in industrial plants with limited capacity. The gas is converted into an odorless and colorless liquid which, once cooled to extremely low temperatures, can be regased for a variety of purposes.
Small-scale LNG is more environmentally friendly than oil and diesel and is widely used for off-grid power generation in isolated industrial and residential complexes. In addition, it is widely used in industry, commerce and homes as a fuel for transportation, as an industrial raw material and for heating.
Market Size and Growth:
The Global Small-Scale LNG Market reached USD YY billion in 2022 and is expected to reach USD YY billion by 2030 and is expected to grow with a CAGR of 10.4% during the forecast period 2023-2030. The demand for environmentally friendly and clean fuels is increasing and liquefied natural gas (LNG) is becoming an increasingly popular marine fuel than heavy fuel oil, marine gas oil and diesel oil.
Download free PDF Sample: Click here
Market Drivers: High demand for Small-Scale LNG
The growing demand for natural gas is one of the major factors driving the expansion of the small-scale LNG industry. Because it emits less greenhouse gases than other fossil fuels, natural gas is growing in popularity as a fuel source. Natural gas storage and transportation solutions that are more adaptable and cheaper are becoming more and more necessary.
Small-scale LNG presents a solution to the issue since natural gas can now be transported and stored in a more controllable and condensed form. To lessen their dependency on coal and oil, national governments are turning more and more to greener fuels.
Market Challenges: Supply Chain Breakdowns
Consequently, the market for small-scale liquefied natural gas (LNG) will experience slower growth. Due to the depletion of natural resources, the small-scale liquefied natural gas (LNG) industry is also anticipated to develop slowly.
Market Opportunities: Technology and Government Policy Integration:
The adoption of new technologies, increasing investments, and the implementation of liquefied natural gas (LNG) government policies will further benefit market participants during the course of the projection period. The simplicity with which small-scale reserve sites may be built will also help the future growth of the small-scale liquefied natural gas (LNG) industry.
Small-Scale LNG Market Segmentation Analysis
The global small-scale LNG market is segmented by terminal type into liquefaction terminals and regasification terminals; by mode of transportation into trucks and tankers, shipping and bunkering, others; by application into marine fuel, heavy-duty vehicles fuel, industrial power generation and others.
- Based on the type, the liquefaction terminal segment led the largest share of the Small-Scale LNG Market with a market share of around 60.2% in 2022. The three firms with the highest small-scale LNG liquefaction capabilities globally throughout the Projection period are Fortress Investment Group, Gazprom, and Shaanxi Gas Group Co Ltd. By 2023; these will have 4,240, 2,050 and 1,400 ktpa, respectively.
By 2023, the proposed and announced facilities Browntown and Browntown II in the US are expected to have the largest small-scale LNG liquefaction capacities globally, each with 2,120 ktpa, followed by Portovaya in Russia with 1,500 ktpa.
- On February 10, 2023, New Fortress Energy, a U.S.-based energy business, awarded a contract to Honeywell International Inc. to supply technologies for LNG pre-treatment at its small and mid-scale ‘Fast LNG’ projects.
- In June 2022, two small-scale liquefaction skids that can produce LNG on a pilot basis were ordered by Gas Authority of India Limited (GAIL). These facilities would facilitate the construction of LNG fuel stations and bunkering facilities and will liquefy natural gas for distribution through the new city gas distribution (CGD) network.
- In 2022, in order to commercialize Factory LNG, a method for small- to medium-scale LNG production, MAN Energy Solutions and Woodside Energy have inked a partnership agreement.
For more detailed information: click here
Small-Scale LNG Market Geographical Analysis:
The regions analyzed for the Small-Scale LNG Market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa
The Asia-Pacific region dominated the Small-Scale LNG Market
Asia-Pacific region witnessed a major share. The expansion of the Small-Scale LNG Market in the region is mostly due to factors like the rise in the number of transportation and the increased use of LNG.
Because of rising customer awareness, corporate expansion, and demand for small-scale LNG in regional transportation, The Asia Pacific region dominates the market due to the significant presence of fibre cement Small-Scale LNG market players in the area. In addition, the region’s need is increased by the high demand for the development of homes and businesses.
Globally, the major players in the Small-Scale market include:
- Linde PLC
- Baker Hughes Company
- Honeywell International Inc.
- Chart Industries
- Black & Veatch Holding Company
Honeywell International Inc
Honeywell’s comprehensive solutions address the entire LNG value chain, including liquefaction, shipping, regasification, pipelines and micro-LNG to help achieve reliable, safe and maximized daily throughput.
Honeywell’s Experion Process Knowledge System (PKS) integrates all aspects of equipment and process at each LNG asset and can integrate multiple LNG assets into a common integrated workspace.
About DataM Intelligence:
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you.
We encompass a multitude of syndicate reports and customized reports with a robust methodology. Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Send Email
Address:DATAM INTELLIGENCE 4MARKET RESEARCH LLP Ground floor, DSL Abacus IT Park, Industrial Development Area, Uppal, Hyderabad, Telangana 500039