Small-Scale LNG Market Estimated to Rising at a Lucrative CAGR of 2.6% by 2025- Exclusive Report by MarketsandMarkets™
Verfasser: ashwani_kailiya on Thursday, 14 April 2022The report "Small-Scale LNG Market by Type (Liquefaction, Regasification), Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport), Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2025", is expected to grow from USD 2.3 billion in 2020 to USD 2.6 billion by 2025, at a CAGR of 2.6%, during the forecast period. The major factors driving the market include energy cost advantage of LNG, environmental benefits, and growing demand from various applications such as heavy-duty vehicles, industrial & power, and marine transport.
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Liquefaction to dominate the global small-scale LNG market during the forecast period
The small-scale LNG industry has been segmented based on type as liquefaction and regasification. The liquefaction segment accounted for the larger share of the market in 2019. The growth in this segment is attributed to the increasing export of LNG, which requires liquefaction before it can be transported from one port to another. The growing number of liquefaction terminals across the globe is likely to increase due to the increasing demand for LNG. These factors are expected to drive the demand for small-scale LNG during the forecast period.