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Liquefied Natural Gas Market to Touch US$196.4 mn by 2019, High Demand from Power Plants to Encourage Growth

Posted on Apr 28, 2016

Transparency Market Research (TMR) has announced the addition of a new market study on the liquefied natural gas (LNG) market. The report analyzes the drivers and restraints of the market and the impact of these on the demand for liquefied natural gas during the forecast period from 2013 to 2019. The report studies the attractiveness of the global liquefied natural gas market on the basis of factors such as growth rate and market size. According to the report, the global liquefied natural gas, which was valued at US$161.4 mn in 2012 is expected to expand at a 2.8% CAGR between 2013 and 2019 and reach US$196.4 mn by 2019. The report is titled “Liquefied Natural Gas Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.” 

Browse the full Liquefied Natural Gas Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/liquefied-natural-gas-market.html

The report provides information that helps a reader have a clear and decisive opinion on the liquefied natural gas market.  Based on the information provided in the report regarding the challenges that new entrants face, the strategies used by leading companies in the liquefied natural gas market, and also the present and future trends in the market, an interested individual or enterprise can effectively make smart decisions regarding the investment in the market.

Liquefied natural gas is natural gas converted into liquid form to enable ease of storage and transport. The liquid form of natural gas is preferred because LNG takes only about 1/1600th of the volume of natural gas and is non-toxic and non-corrosive in nature. Liquefied natural gas is stored in cylindrical cryogenic tanks made from steel, concrete, or nickel. This method of storing prevents vaporization of liquefied natural gas. The tanks are insulated and kept at low pressures.

The demand for liquefied natural gas is growing in the electric power sector, as it is cost-efficient and has a favorable heat rate. It is used on a large scale in small-scale power plants and in in-house power generation, as it is efficient enough to support high loads during peak hours. It supports loads of up to 100 MW, which is sufficient for small plants. Some governments have made it mandatory to use liquefied natural gas in the industrial sector so as to reduce the emissions of greenhouse gases, thus fueling the liquefied natural gas market. Liquefied natural gas can easily supply power to industrial units located in remote areas by the installation of captive power plants that make use of LNG as a fuel.

The global liquefied natural gas market is segmented on the basis of geography into Asia Pacific, Europe, and Rest of the World. Out of these, Asia Pacific dominated the global liquefied natural gas market in terms of volume. The growth of the market in Asia Pacific was majorly due to the high demand from emerging nations such as China and India, which have to import a large quantity of liquefied natural gas as their own domestic production is insufficient to fulfil the domestic demand. Europe is expected to emerge as a lucrative market due to the rising demand from countries such as France, the U.K., and Spain. The Rest of the World regional market will witness a moderate growth rate owing to the existence of large shale gas reserves in the Middle East.

Major companies in the global liquefied natural gas market studied in the report include: Woodside Petroleum Ltd., Apache Corporation, Kinder Morgan Inc, Cheniere Energy Inc, BG Group Plc, ConocoPhillips, Dominion Resources Inc, Qatar Petroleum, Veresen Inc, and Sempra Energy.

The key segments of the liquefied natural gas market are as follows:

End-User

  • Industrial
  • Electric power
  • Others

Regional Analysis

  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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