Liquefied Natural Gas (LNG) Market Outlook
According to the report by Expert Market Research (EMR), the global liquefied natural gas (LNG) market size reached a volume of 4.52 billion barrels in 2023. Aided by the global shift towards cleaner energy sources and the increasing demand for natural gas, the market is projected to further grow at a CAGR of 2.8% between 2024 and 2032 to reach a volume of 5.78 billion barrels by 2032.
LNG, characterised by its liquefied form of natural gas at -162°C, enables efficient storage and transportation, thereby overcoming geographical constraints associated with pipeline gas deliveries. This transformation has not only facilitated international trade of natural gas but also enhanced energy security for many nations by diversifying energy supply sources.
The surge in liquefied natural gas (LNG) market growth is due to its role as a transitional fuel in the journey towards a low-carbon future. As a cleaner alternative to coal and oil, LNG significantly reduces emissions of sulphur dioxide, nitrogen oxides, and particulate matter, making it a preferred choice for power generation, heating, and as a fuel for shipping and heavy-duty road transport. The escalating global emphasis on environmental sustainability and the urgent need for decarbonisation in the energy sector propel the demand for LNG. This shift is further bolstered by the burgeoning LNG trade, which has been facilitated by technological advancements in liquefaction and regasification processes, as well as the expansion of LNG infrastructure, including terminals and fleets of LNG carriers.
Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/liquefied-natural-gas-lng-market/requestsample
Moreover, the geopolitical landscape further influences the liquefied natural gas (LNG) market. As countries seek to enhance their energy independence and security, LNG offers a viable solution by providing access to a diverse range of gas supplies from different parts of the world. This aspect has been particularly highlighted in the wake of geopolitical tensions and supply disruptions, underscoring LNG’s strategic importance in global energy supply chains.
As per the liquefied natural gas (LNG) market outlook, efforts to establish LNG trading hubs and develop transparent and liquid LNG pricing mechanisms are underway in various regions around the world. LNG trading hubs facilitated market liquidity, price discovery, and risk management, enabling market participants to buy, sell, and swap LNG cargoes more efficiently.
Technological innovations in LNG shipping, such as the development of more efficient propulsion systems, larger and more efficient LNG carriers, and advancements in onboard liquefaction technology, are enhancing the efficiency and safety of LNG transportation and offering support to the liquefied natural gas (LNG) market expansion. These advancements are aimed at reducing transportation costs, improving vessel performance, and ensuring the reliability of LNG supply chains.
The economic viability of LNG projects has seen considerable improvements, driven by cost reductions in LNG production and transport. These developments have made LNG more accessible and competitive, even in markets traditionally dominated by pipeline gas or coal. According to the liquefied natural gas (LNG) market analysis, small-scale LNG solutions are gaining traction as a means of providing clean and affordable energy to remote or off-grid locations, as well as niche applications such as marine bunkering, trucking, and industrial use. Small-scale LNG projects offered flexibility in terms of deployment and could serve as a complementary solution to traditional large-scale LNG infrastructure.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/liquefied-natural-gas-lng-market
Many countries are implementing regulatory reforms aimed at liberalising their LNG markets and promoting competition, investment, and innovation. These reforms included measures to deregulate pricing, facilitate third-party access to LNG infrastructure, and streamline permitting and licensing processes for LNG projects which can boost the overall liquefied natural gas (LNG) market share. Collaboration and partnerships between stakeholders across the LNG value chain, including producers, traders, buyers, financiers, technology providers, and regulators, are essential for driving innovation, reducing costs, managing risks, and ensuring the long-term sustainability of the LNG sector.
Market Segmentation
The market can be divided based on end use and region.
Market Breakup by End Use
- Power
- Transportation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global liquefied natural gas (LNG) market. Some of the major players explored in the report by Expert Market Research are as follows:
- Shell International B.V.
- Chevron Corporation
- Exxon Mobil Corporation
- Cheniere Energy, Inc.
- Energy Transfer LP
- Freeport LNG Development, L.P.
- ConocoPhillips Company
- Venture Global LNG, Inc.
- Sempra Energy
- Petróleo Brasileiro S.A.
- Others
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact:
Company Name: Claight Corporation
Contact Person: Eren smith, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
Aus. Site: https://www.expertmarketresearch.com.au/
