Rising focus on shale gas production has changed the demand-supply demographic of several energy producing regions across the globe in the past few years. The shale boom in the U.S. is on the verge of making North America, a major importer of crude oil and natural gas in the past years, an exporter of LNG. The urgency to improve production and supply infrastructure owing to such changes is the key facilitator of growth for the global large-scale LNG terminals market.
The global consumption of LNG is also mounting owing to its cleaner nature compared to conventional petroleum-based fuels. With emission control norms becoming increasingly strict across the globe, domestic, commercial, and industrial sectors will be compelled to switch to cleaner fuels such as LNG in the near future. This factor will also provide a big boost to the overall development of the large-scale LNG terminals market in the next few years.
Transparency Market Research states that the global large-scale LNG terminals market will exhibit a 5.78% CAGR over the period between 2015 and 2023. The market is expected to rise from 2,684.8 MMTPA in 2014 to 4,664.7 MMTPA by 2023.
Large-scale Regasification Terminals to Dominate
The segment of regasification terminals presently dominates the global large-scale LNG terminals market. The section accounted for a dominant share of nearly 56% in the global market in 2014. In the next few years, large-scale regasification capacities are expected to increase at a substantial rate across the globe, especially in Asia Pacific, North America, and Europe.
Countries across Asia Pacific, such as China and Japan are focusing on increasing the consumption of natural gas across the power generation, mining, and industrial sectors. This will lead to the increased need for floating and onshore large-scale LNG regasification terminals. In archipelagic topographies such as Indonesia, the rising consumption of LNG will boost the development of off-shore regasification terminals in the next few years. In terms of throughput, the market for large-scale LNG regasification terminals market will expand at over 5% CAGR from 2015 to 2023.
Asia Pacific Continues to Lead Large-scale LNG Terminals Market
In many countries in Asia Pacific, a continuous rise in the number of large-scale LNG terminals has enabled the easy access to natural gas at economic rates. This will facilitate the much needed shift from conventional fuels to natural gas in the transportation and power generation industries in Asia Pacific and encourage the increased adoption of natural gas.
Asia Pacific is presently the leading regional market for large-scale LNG terminals, accounting for a dominant share of over 45% in the global market in 2014. The region will continue to account for a major share in the global large-scale LNG terminal market over the period between 2015 and 2023 as well. Rising environmental concerns and fluctuating prices of crude oil will further encourage the adoption of a cleaner energy source such as natural gas across industrial as well as commercial sectors in the region.
The global large-scale LNG terminals market is characterized by high fragmentation and a rapid influx of new global vendors at a sustained pace. This has led to a substantial rise in production volumes and have brought the prices down, intensifying the competition and leveraging the bargaining power of buyers. Some of the major players operating in the market are Royal Dutch Shell plc, Exxon Mobil Corporation, Linde AG, ConocoPhillips Company, Petroliam Nasional Berhad (PETRONAS), and Nippon Gas Co. Ltd.
This research study analyzes the market for large-scale LNG terminals in terms of throughput (MMTPA). The large-scale LNG terminals market has been segmented on the basis of technology and geography. The regional segment has been further divided into 12 sub-segments that comprise seven countries which are major players in the global large-scale LNG terminals market. For the research, 2014 has been taken as the base year while all forecasts have been given for the 2015–2023 period. Market data for all the segments has been provided at the regional as well as country-specific level for the 2014–2023 period. The report provides a broad competitive analysis of companies engaged in the large-scale LNG terminals business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global large-scale LNG terminals market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive industry analysis of the global large-scale LNG terminals market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the structure and profitability of the global large-scale LNG terminals market. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the large-scale LNG terminals business globally. There are currently numerous drivers for the large-scale LNG terminals market. One of the most prominent drivers is preference of LNG as an alternative fuel source by large long haul vehicle fleet owners. Apart from this, increasing consumption of LNG due to environmental benefits over other fuels is expected to increase the demand for large-scale LNG terminals in the near future. Market attractiveness analysis was carried out for the large-scale LNG terminals market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The large-scale LNG terminals market was further segmented on the basis of technology into liquefaction and regasification. Both the technology segments were further sub-divided on the basis of site into onshore and offshore. The large-scale LNG terminals market was analyzed across five geographies: North America, Asia Pacific, Europe, South America, and Middle East & Africa. Regional data has been provided for each sub-segment of the large-scale LNG terminals market. Key market participants in the large-scale LNG terminals market include Linde AG, Royal Dutch Shell plc, Exxon Mobil Corporation, Santos Limited, Chevron Corporation, Petroliam Nasional Berhad (PETRONAS), Statoil ASA, ConocoPhillips Company, Gasum Oy, Rosneft, and Nippon Gas Co. Ltd. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
Large-scale LNG Terminals Market: By Technology
Large-scale LNG Terminals Market: By Region
- North America
- Rest of North America
- Asia Pacific
- Rest of Asia Pacific
- Rest of Europe
- South America
- Rest of South America
- Middle East & Africa
- Rest of Middle East & Africa