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PUBLISHER: Grand View Research | PRODUCT CODE: 1588729
PUBLISHER: Grand View Research | PRODUCT CODE: 1588729
Liquefied Natural Gas Market Size, Share & Trends Analysis Report By Application (Transportation Fuel, Power Generation), By Region (North America, Europe, Asia Pacific, Middle East & Africa), And Segment Forecasts, 2025 - 2030
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Liquefied Natural Gas Market Growth & Trends:
The global liquefied natural gas market size is expected to reach USD 226.97 billion by 2030, registering a CAGR of 11.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growing demand for electric power through clean energy sources is likely to propel the market growth over the coming years. A growing focus on projects related to distributed power & utility is anticipated to bolster the market growth over the next eight years. The projected growth in natural gas in the power generation business is also likely to create more demand for liquefied natural gas (LNG) across various countries.
The power generation application segment accounted for the largest volume share of 47.90% in 2024. Growing demand for NG also helps in reducing the emission of harmful greenhouse gas emissions. Increased usage of this fuel in the mining, industrial and power generation sectors has displayed a significant change over the historic period. A decline in the prices, as well as low fuel switching costs, are enhancing the industry growth in the transportation and power generation application.
The supply chain of the LNG and ancillary industries was affected due to the shutdown of production facilities, especially in the Asia Pacific as it was the epicenter of the COVID-19. The manufacturing and energy & power sectors globally experienced a considerable slowdown due to the COVID-19. Additionally, local and international travel restrictions, quarantine requirements, and lockdowns further delayed shipments of LPG that were in process of being delivered.
Diesel and petrol have been the default options for vehicle fuels. However there has been a shift from traditional fuel to available better choices on the market such as natural gas that give the same performance in terms of power, acceleration, and cruising speed, but with added financial and environmental benefits. LNG is typically less expensive than diesel giving lower running costs over the medium to long distances and the lowest total cost of ownership compared to conventional fuels. It also has strong environmental benefits that improve air quality by reducing greenhouse gas emissions.
Others application includes natural gas used in the mining industry, chemical industry, food processing, and other industries. For mines operating in remote areas which do not have access to grid-connect electricity, in many such cases, natural gas-powered generators provide peak and baseload generation for electricity and heat.
Liquefied Natural Gas Market Report Highlights:
- In terms of revenue, the power generation segment accounted for a prominent share of 47.90% in the market in 2024 and is further expected to witness steady growth in the forecast period
- As of 2024, the Asia Pacific accounted for about 81.1% revenue share in the overall market. The high growth of industrial sectors in China, India, and Japan has triggered the demand for power through clean sources driving the need for natural gas. The establishment of heavy equipment, oil & gas, and process companies in China, on account of low labor and utility costs, has been one of the factors responsible for the penetration of natural gas for industrial application in the region.
- Various strategic initiatives were recorded over the past few years to boost the growth of the LNG market. For instance, in January 2020, the company signed a liquefied natural gas supply agreement with Nigeria LNG. This agreement is expected to increase Eni SpAs' global LNG portfolio starting from 2021 and to support further the development of its presence in the main destination markets worldwide
Product Code: GVR-1-68038-553-3
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2024 (Million Tons, USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Liquefied Natural Gas Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Regulatory Framework
- 3.4.1. Standards & Compliances
- 3.4.2. Regulatory Impact Analysis
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenges Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Business Environment Analysis
- 3.6.1. Industry analysis - porter's five forces analysis
- 3.6.2. Industry analysis - Pestle analysis
Chapter 4. Liquefied Natural Gas Market: Application Estimates & Trend Analysis
- 4.1. Application Movement Analysis & Market Share, 2024 & 2030
- 4.2. Transportation Fuel
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 4.3. Power Generation
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 4.4. Others
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
Chapter 5. Liquefied Natural Gas Market: Regional Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Regional Movement Analysis & Market Share, 2024 & 2030
- 5.3. North America
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.3.3. U.S.
- 5.3.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.3.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.3.4. Canada
- 5.3.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.3.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.3.5. Mexico
- 5.3.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.3.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4. Europe
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.1.1. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.2. Germany
- 5.4.2.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.2.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.3. U.K.
- 5.4.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.4. France
- 5.4.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.5. Italy
- 5.4.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.6. Spain
- 5.4.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.6.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.7. Russia
- 5.4.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.4.7.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.5. Asia Pacific
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.5.3. China
- 5.5.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.5.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.5.4. India
- 5.5.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.5.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.5.5. Japan
- 5.5.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.5.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.5.6. Australia
- 5.5.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.5.6.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.6. Central & South America
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.6.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.6.3. Brazil
- 5.6.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.6.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.6.4. Argentina
- 5.6.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.6.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.7. Middle East & Africa
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.7.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.7.3. Saudi Arabia
- 5.7.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.7.3.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.7.4. South Africa
- 5.7.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.7.4.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
- 5.7.5. UAE
- 5.7.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 5.7.5.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons, USD Million)
Chapter 6. Competitive Landscape
- 6.1. Key Players & Recent Developments & Their Impact on the Industry
- 6.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 6.3. List of key Component Suppliers and Channel Partners
- 6.4. Company Market Share & Position Analysis, 2024
- 6.5. Company Heat Map Analysis
- 6.6. Competitive Dashboard Analysis
- 6.7. Strategy Mapping
- 6.7.1. Expansion
- 6.7.2. Collaboration/ Partnerships/ Agreements
- 6.7.3. New Type launches
- 6.7.4. Mergers & Acquisitions
- 6.7.5. Research & Development
- 6.7.6. Others
- 6.8. Company Listing / Profiles
- 6.8.1. British Petroleum (BP) p.l.c.
- 6.8.1.1. Company Overview
- 6.8.1.2. Financial Performance
- 6.8.1.3. Product Benchmarking
- 6.8.2. Chevron Corporation
- 6.8.3. China Petroleum & Chemical Corporation
- 6.8.4. Eni SpA
- 6.8.5. Equinor ASA
- 6.8.6. Exxon Mobil Corporation
- 6.8.7. Gazprom Energy
- 6.8.8. PetroChina Company Limited
- 6.8.9. Royal Dutch Shell PLC
- 6.8.10. Total S.A.
- 6.8.1. British Petroleum (BP) p.l.c.
Product Code: GVR-1-68038-553-3
List of Tables
- 1. Global Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 2. Liquefied Natural Gas Market estimates and forecasts by Type, 2018 - 2030 (Million Tons, USD Million)
- 3. Liquefied Natural Gas Market estimates and forecasts in Solutions, 2018 - 2030 (Million Tons, USD Million)
- 4. Liquefied Natural Gas Market estimates and forecasts in Services, 2018 - 2030 (Million Tons, USD Million)
- 5. Liquefied Natural Gas Market estimates and forecasts by Application, 2018 - 2030 (Million Tons, USD Million)
- 6. Liquefied Natural Gas Market estimates and forecasts in Transportation Fuel, 2018 - 2030 (Million Tons, USD Million)
- 7. Liquefied Natural Gas Market estimates and forecasts in Power Generation, 2018 - 2030 (Million Tons, USD Million)
- 8. Liquefied Natural Gas Market estimates and forecasts in Others, 2018 - 2030 (Million Tons, USD Million)
- 9. North America Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 10. North America Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 11. U.S. Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 12. U.S. Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 13. Canada Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 14. Canada Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 15. Mexico Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 16. Mexico Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 17. Europe Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 18. Europe Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 19. Germany Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 20. Germany Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 21. UK Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 22. UK Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 23. Italy Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 24. Italy Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 25. Spain Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 26. Spain Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 27. France Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 28. France Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 29. Russia Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 30. Russia Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 31. Asia Pacific Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 32. Russia Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 33. China Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 34. China Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 35. India Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 36. India Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 37. Japan Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 38. Japan Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 39. Australia Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 40. Australia Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 41. Central & South America Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 42. Central & South America Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 43. Brazil Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 44. Brazil Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 45. Argentina Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 46. Argentina Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 47. Middle East & Africa Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 48. Middle East & Africa Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 49. Saudi Arabia Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 50. Saudi Arabia Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 51. South Africa Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 52. South Africa Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 53. UAE Liquefied Natural Gas Market estimates and forecasts, 2018 - 2030 (Million Tons, USD Million)
- 54. UAE Liquefied Natural Gas Market estimates and forecasts, by Application 2018 - 2030 (Million Tons, USD Million)
- 55. Recent Developments & Impact Analysis, by Key Market Participants
List of Figures
- 1. Information procurement
- 2. Primary research pattern
- 3. Primary Research Process
- 4. Market research approaches - Bottom-Up Approach
- 5. Market research approaches - Top-Down Approach
- 6. Market research approaches - Combined Approach
- 7. Liquefied Natural Gas Market- Market Snapshot
- 8. Liquefied Natural Gas Market- Segment Snapshot
- 9. Liquefied Natural Gas Market- Competitive Landscape Snapshot
- 10. Liquefied Natural Gas Market: Value Chain Analysis
- 11. Liquefied Natural Gas Market: Porter's Five Force Analysis
- 12. Liquefied Natural Gas Market: PESTLE Analysis
- 13. Liquefied Natural Gas Market, by Type: Key takeaways
- 14. Liquefied Natural Gas Market, by Application: Key takeaways
- 15. Liquefied Natural Gas Market: Application Movement Analysis, 2024 & 2030 (Million Tons, USD Million)
- 16. Transportation Fuel Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 17. Power Generation Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 18. Others Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 19. Liquefied Natural Gas Market: Regional Movement Analysis, 2024 & 2030
- 20. North America Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 21. U.S. Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 22. Canada Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 23. Mexico Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 24. Europe Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 25. Germany Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 26. UK Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 27. Italy Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 28. Spain Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 29. France Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 30. Russia Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 31. Asia Pacific Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 32. China Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 33. India Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 34. Japan Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 35. Australia Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 36. Central & South America Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 37. Brazil Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 38. Argentina Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 39. Middle East & Africa Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 40. Saudi Arabia Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 41. South Africa Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 42. UAE Liquefied Natural Gas Market estimates & Forecasts, 2018 - 2030 (Million Tons, USD Million)
- 43. Liquefied Natural Gas Market: Competitive Dashboard Analysis
- 44. Liquefied Natural Gas Market: Market Share Analysis, 2024
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