The liquefied natural gas global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Liquefied natural gas Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The liquefied natural gas market size has grown strongly in recent years. It will grow from $132.78 billion in 2023 to $144.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to global energy demand, geopolitical factors, environmental regulations, infrastructure development, price dynamics.
The liquefied natural gas market size is expected to see strong growth in the next few years. It will grow to $192.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to policy and regulatory landscape, infrastructure expansion, price competitiveness, evolving environmental considerations, geopolitical developments. Major trends in the forecast period include .
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Scope Of Liquefied natural gas Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Liquefied natural gas Market Overview
Market Drivers –
The rising demand for liquefied natural gas is projected to expand the growth of the liquefied natural gas market going forward. Liquefied natural gas is produced by purifying natural gas and transforming it to -260°F. It is natural gas that has gone through cooling to become liquid. The rising demand for growing motor petrol use, and increasing big semi-urban and rural population will boost the demand for liquefied natural gas market growth. For instance, in July 2022, according to Energy Information Administration, a US-based government agency, during 2021, an average of 49.0 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) was traded globally. Therefore, the rising demand for liquefied natural gas is driving the growth of the liquefied natural gas market going forward.
Market Trends –
Technological advancements are a key trend gaining popularity in the liquefied natural gas market. Companies operating in the liquefied Natural gas market are adopting new technologies to sustain their position in the market. For instance, in February 2023, New Fortress Energy Inc., a US-based energy infrastructure company, adopted Honeywell UOP technology to eliminate contaminants from natural gas. Honeywell UOP is the provider of gas processing technology. Its pollutant removal and hydrocarbon management technologies are employed in the production of about 40% of the world’s liquefied natural gas.
The liquefied natural gas market covered in this report is segmented –
1) By Type: APCI Liquefaction Technology, Cascade Liquefaction Technology, Other Liquefaction Technology
2) By Application: Power Generation, Transporation Fuel, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the liquefied natural gas market in 2023. The regions covered in the liquefied natural gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the liquefied natural gas market report are BP plc, Chevron Corporation, Eni SpA, Exxon Mobil Corporation, TotalEnergies SE, Cheniere Energy Inc., ConocoPhillips Company, Sempra Energy, Woodside Energy Group Ltd., Gazprom Energy, PetroChina Company Limited, Shell plc, Equinor ASA, China Petrochemical Corporation, INPEX Corporation, GAIL India Limited, Indian Oil Corporation Limited, China National Petroleum Corporation, Petronet LNG Ltd., PJSC Gazprom, QatarEnergy, Dominion Energy Inc., Freeport LNG Development L.P., Kinder Morgan Inc., Tellurian Inc., Venture Global LNG Inc., Anadarko Petroleum Corporation, Apache Corporation, BG Group, BHP Group Ltd., BP Trinidad and Tobago LLC, CNOOC Limited, Devon Energy Corporation, Hess Corporation, JERA Co. Inc., Occidental Petroleum Corporation, Origin Energy Limited, Santos Limited, Woodfibre LNG Limited .
Table of Contents
1. Executive Summary
2. Liquefied natural gas Market Report Structure
3. Liquefied natural gas Market Trends And Strategies
4. Liquefied natural gas Market – Macro Economic Scenario
5. Liquefied natural gas Market Size And Growth
…..
27. Liquefied natural gas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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