LNG Liquefaction Equipment: Introduction

  • Liquefied natural gas (LNG) is the liquid form of natural gas at temperature of −161°C. The liquefaction process of natural gas shrinks its volume by 1/600 of the volume of natural gas in gaseous form. This makes it easy to transport and store.
  • Volatility in prices of gasoline and diesel led by geopolitical factors and environment-related concerns has prompted companies to adopt the LNG-based technology. Companies are investing in R&D activities to develop cutting-edge technologies related to LNG and its uses.

Key Drivers and Restraints of Global LNG Liquefaction Equipment Market

  • Increase in awareness about environment-related issues and implementation of stringent rules and regulations by regulatory authorities of governments have compelled companies to seek green solutions. Of late, LNG is being used as a substitute for gasoline and diesel. LNG is a clean fuel. LNG offers a cost-effective solution to consumers. Thus, significant increase in the usage of LNG in various industries is expected to drive the global LNG liquefaction equipment market in the near future.
  • LNG is considered a clean and safe form of energy. Furthermore, easy transportation of LNG is anticipated to drive the LNG liquefaction equipment market. Increase in usage of LNG would lead to higher demand for its transportation. This is estimated to boost the market significantly during the forecast period.
  • Installation and operating cost of LNG liquefaction equipment is high. As a result, companies are hesitant to invest in LNG liquefaction equipment. This is likely to restrain the market in the near future.  

Global LNG Liquefaction Equipment Market: Segmentation

  • The global LNG liquefaction equipment market can be segmented in terms of type and capacity.
  • Based on type, the global LNG liquefaction equipment market can be divided into heat exchanger, compressor, and others. Demand for compressor type of LNG liquefaction equipment is expected to be high among end-users, as it provides operational simplicity and flexibility.
  • In terms of capacity, the global LNG liquefaction equipment market can be classified into less than 0.25 MTPA, 0.25 MTPA to 2.0 MTPA, and more than 2.0 MTPA. Demand for LNG liquefaction equipment with capacity of 0.25 MTPA to 2.0 MTPA is anticipated to be high, as these are employed in industrial applications.

Global LNG Liquefaction Equipment Market: Regional Outlook

  • Based on region, the global LNG liquefaction equipment market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Asia Pacific is likely to dominate the global LNG liquefaction equipment market during the forecast period, due to increase in demand for LNG in industrial and commercial sectors in the region. China, India, and Japan are leading countries in the region in terms of demand for LNG liquefaction equipment.
  • North America is projected to account for large share of the global LNG liquefaction equipment market in the near future. The U.S. is estimated to hold significant share of the LNG liquefaction equipment market in North America during the forecast period.
  • In terms of revenue, Europe is projected to contribute significantly to the global LNG liquefaction equipment market in the near future. Increase in demand for green fuel is expected to drive the LNG liquefaction equipment market in the region.

COVID-19 Impact on LNG Liquefaction Equipment Market

  • The global coronavirus pandemic has led to imposition of lockdowns in many countries. The pandemic has severely hampered the global economy. During the initial stages of lockdowns, demand for LNG declined significantly; however, it is gradually rising as governments of various countries are in the process of lifting certain restrictions. Demand for LNG is rising in industrial applications across the world. Demand for LNG liquefaction equipment is dependent on the demand for LNG.

Key Players Operating in Global Market:

  • Air Products and Chemicals
  • Chart Energy and Chemicals
  • Atlas Copco
  • Linde Group
  • Kobelco Compressors
  • ConocoPhillips Company
  • General Electric
  • Ingersoll Rand
  • Elliott
  • IHI Corporation

Global LNG Liquefaction Equipment Market: Research Scope

Global LNG Liquefaction Equipment Market, by Type

  • Heat Exchanger
  • Compressor
  • Others

Global LNG Liquefaction Equipment Market, by Capacity

  • Less than 0.25 MTPA
  • 0.25 MTPA to 2.0 MTPA
  • More than 2.0 MTPA

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Lng Liquefaction Equipment Market

Pre Book