Bizizz Market Research has recently published a research report, “Small Scale LNG Terminals Market by Terminal Type (Liquefaction Terminal, Regasification Terminal), by Application (Heavy-Duty Vehicles, Marine Transport, and Industrial and Power), by Modes Of Supply (Truck, Transhipment and Bunkering, and Pipeline and Rail), by Application (Transportation, Industrial Feedstock, Power Generation, and Others), by Region – Global Industry Demands Estimation & Forecast 2019-2027”.
As per the report, Global Small Scale LNG Market was valued at USD ~28 Bn in 2018 and is anticipated to reach a market value of US $ xx Bn by 2027, witnessing a CAGR of 6.5% during the forecast period. Key drivers of the market are growing application for LNG as a fuel in transport coupled with its usage as a fuel in power generation. Other factors such as growing investments for the production of LNG is another prominent factors expected to drive the market.
Growing subsidies and fiscal regimes are vital factors contributing to the growth of the market. In contrast to this, low number of LNG terminal infrastructure and expensive supply chain are the common factors acting as a restraint to the market.
Small Scale LNG Terminals Market is Anticipated to register a CAGR of 6.5% during the forecast period
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By Application, Industrial and Power Segment accounted for a major share in the market and is expected to remain dominant during the forecast period. This trend is continued owing to high usage of LNG in various countries. High development of sustainable logistics network is one of the factors contributing to the share of the segment. Moreover, high opportunities for island-based LNG in the industrial and power segment. In addition to this, various countries such as Philippines, Myanmar, and Indonesia are investing into small-scale LNG infrastructure to serve various applications.
Small Scale LNG Terminals are gaining traction in Asia Pacific
Asia Pacific is expected to witness high growth of the market owing to increased adoption of LNG in emerging economies. The governments in the region are further promoting natural gas as a transportation fuel and further investing in natural gas infrastructure to reduce their carbon footprint. Moreover, power plants in the region are shifting towards natural gas from other petroleum products for power generation. Growth in various industries such as shipping, power and automotive in Asia Pacific will boost the growth of small scale LNG terminals in the future. Factors such as lack of infrastructure in regions such as Africa and Middle East coupled with high CAPEX requirement are expected to hamper the growth of the market in these regions. In contrast to this, Europe has been a leading region in the implementation of small-scale LNG projects. Majority of LNG supply locations are available in Europe.
Small Scale LNG Terminals market comprises of key players such as The Linde Group, Wartsila, Honeywell International, Inc., Prometheus Energy, Royal Dutch Shell Plc, Black & Veatch Corporation, Dresser-Rand and Skangas. Mergers and acqusitions, technology innovation and strategic alliance are most common key strategies followed by key players in the market. For instance, Avenir LPG had announced in November 2018 that the company plans to collaborate with Golar Power Limited in order to establish small-scale LPG market.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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