Global Liquefied Natural Gas Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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MarketResearch.biz delivers in-depth insights on the global liquefied natural gas market in its upcoming report titled, “Global Liquefied Natural Gas Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global liquefied natural gas market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global liquefied natural gas market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global liquefied natural gas market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global liquefied natural gas market report has been segmented on the basis of application, and region.
Liquefied natural gas (LNG) is a type of natural gas, cooled to -260° Fahrenheit. At this temperature gas changes to a liquid form. LNG is colorless, odorless, non-corrosive, and non-toxic. The liquefaction process is used for elimination of certain components such as acid gases, dust, helium, water, and heavy hydrocarbons, which could cause difficulties in use. Primary motive for conversion of natural gas into liquefied natural gas is for feasible transportation as pipelines are not feasible technically and economically.
Rising demand for liquefied natural gas by various end-use industries such as transportation, power generation, and mining is a key factor driving growth of the global liquefied natural gas market. Additionally, growing awareness about benefits related to use of liquefied natural gas as an alternative to fossil fuels, and increasing adoption of liquefied natural gas as a clean energy source among individuals in developed and developing economies are other factors expected to boost growth of the global liquefied natural gas market over the forecast period.
However, high installation cost associated with liquefaction process of natural gas is a major factor restraining growth of the global liquefied natural gas market. In addition, lack of skilled workforce, and high maintenance and handling costs are some other factors anticipated to hamper growth of the global liquefied natural gas market over the forecast period.
Currently, the market in North America accounts for largest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to increasing production and exploration activities in countries in the region. The market in Asia Pacific is projected to witness fastest growth over the forecast period, owing to rising demand for clean energy sources in emerging economies such as China, India, etc. Also, market in Middle East is projected to show moderate growth over the forecast period, owing to increasing number of exports of liquefied natural gas from countries in the region.
Global Liquefied Natural Gas Market Segmentation:
Global liquefied natural gas market segmentation by application:
- Power generation
- Mining & Industrial
- Others (Household, Automotive, and Chemical)
Global liquefied natural gas market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Apache Corporation
- Cheniere Energy, Inc.
- ConocoPhillips Company
- Dominion Energy, Inc.
- Kinder Morgan, Inc.
- Qatar Petroleum
- Sempra Energy
- Woodside Petroleum Ltd.
- China National Petroleum Corporation
- Chevron Corporation.
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