Liquefied Natural Gas Market, By Application (Power Generation, Transportation, Mining & Industrial, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Description

The liquefied natural gas market is estimated to be valued at USD 142.17 Bn in 2024 and is expected to reach USD 261.57 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 142.17 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	9.10%	2031 Value Projection:	US$ 261.57 Bn

Figure 1.Liquefied Natural Gas Market Share (%), By Region, 2024

The global liquefied natural gas (LNG) market has been witnessing significant growth over the past few years driven by factors such as the rising demand for cleaner energy. LNG is a natural gas (predominantly methane, CH4) that has been cooled down to the liquid form for ease of storage or transport. The standard temperature at which it is liquefied is approximately -162°C. LNG takes up about 1/600th the volume of natural gas in the gaseous state. This reduction in volume enables economical transport of natural gas to locations otherwise not accessible via pipelines. It is odorless, colorless, non-toxic and non-corrosive. LNG is transported between in mega tankers to locations where regasification terminals can convert it back into the gaseous state for distribution through pipeline networks. With rising demand for cross-border supply of natural gas, LNG trade has increased facilitating natural gas trade globally.

Market Dynamics:

The global LNG market is driven by factors such as rising demand for cleaner energy, growth in global LNG trade, increasing investments in LNG infrastructure, and economic advantages of LNG over other fuels. However, volatility in LNG prices based on fluctuations in global gas prices remains a key restraint. Opportunities include increasing adoption in the transportation sector like LNG-fueled vehicles and rising off-grid consumption. Innovation in small-scale liquefaction and regasification technologies also presents new avenues for market expansion.

Key Features of the Study:

This report provides an in-depth analysis of the global LNG market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players like Asahi Kasei Corporation, Ascend Performance Materials, BASF SE, Invista, Lanxess Ag, PetroChina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company Ltd., Shandong Hongye Chemical Company, Ltd, Shell Global, Exxon Mobil Corporation, Equinor ASA, Eni SpA, Conoco Philips, Chevron Corporation, Cheniere Energy, BP Plc, Qatargas, and Cheniere Energy
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global LNG market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global LNG market

Market Segmentation

By Application:
- Power Generation
- Transportation
- Mining & Industrial
- Others
By Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Asahi Kasei Corporation
- Ascend Performance Materials
- BASF SE
- Invista
- Lanxess Ag
- PetroChina Liaoyang Petrochemical
- Radici Group
- Rhodia
- Shandong Haili Chemical Industry Company Ltd.
- Shandong Hongye Chemical Company, Ltd
- Shell Global
- Exxon Mobil Corporation
- Equinor ASA
- Eni SpA
- Conoco Philips
- Chevron Corporation
- Cheniere Energy
- BP Plc
- Qatargas
- Cheniere Energy

Product Code: CMI985

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend

4. Global Liquefied Natural Gas Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting Global Liquefied Natural Gas Market - COVID-19
Impact Analysis

5. Global Liquefied Natural Gas Market, By Application, 2019- 2031 (US$ Bn and KT)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Power Generation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn and KT)
Transportation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn and KT)
Mining & Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn and KT)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn and KT)

6. Global Liquefied Natural Gas Market, By Region, 2019- 2031 (US$ Bn and KT)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn and KT)
- Countries
  - U.S.
  - Canada
  - Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn and KT)
- Countries
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn and KT)
- Countries
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
  - Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2031
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn and KT)
- Countries
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
  - Middle East & Africa
- Market Share Analysis, By Region/Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Region/Country, 2020 - 2031
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn and KT)
- Sub-Regions
GCC Countries
Israel
Rest of Middle East & Africa

7. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- Asahi Kasei Corporation
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Ascend Performance Materials
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- BASF SE
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Invista
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Lanxess Ag
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- PetroChina Liaoyang Petrochemical
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Radici Group
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Rhodia
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Shandong Haili Chemical Industry Company Ltd.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Shandong Hongye Chemical Company, Ltd
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Shell Global
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Exxon Mobil Corporation
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Equinor ASA
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Eni SpA
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Conoco Philips
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Chevron Corporation
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Cheniere Energy
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- BP Plc
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Qatargas
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Cheniere Energy
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates

8. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. Section

References
Research Methodology
About Us and Sales Contact
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