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Micro LNG Liquefaction Market

Micro LNG Liquefaction Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Micro LNG Liquefaction Market: Overview

  • Liquefied natural gas (LNG) is natural gas in its liquid form. When natural gas is cooled to −162°C (or −259°F) through a process known as liquefaction, it transforms into a clear, odorless liquid. This liquid takes up 600 times less space than natural gas, thus offering ease in terms of storage and transport. However, small- and micro-scale LNG are gradually emerging as solutions to provide small volumes of gas to demand points that are located far away from supply infrastructure.
  • Mini/micro LNG facilities currently consist of LNG liquefaction plants supplying LNG satellite stations with annual LNG volumes of up to 0.2 MTPA. As an indication, these LNG quantities correspond to the yearly LNG demand for a power plant of up to 100 MW approximately. 

Key Drivers and Restraints of Micro LNG Liquefaction market

  • A micro LNG liquefaction plant with the capacity of less than 0.2 MTPA can be constructed within one to two years, unlike large-scale LNG plants, which can take up to 10 years. Ability to reap profits in a shorter time span and growth in consumption of LNG as a primary source of energy are expected to drive the global micro LNG liquefaction market during the forecast period.
  • Over the last few years, the world has gradually shifted from heavier distillates toward cleaner burning fuel sources. This has made the role of natural gas in the global energy landscape more significant. According to Royal Dutch Shell PLC, demand for natural gas is expected to reach more than 4,500 BM^3/y by 2035. This provides immense growth opportunities to the global micro LNG liquefaction market. However, decrease in prices of natural gas and high initial investments are major factors restraining the global micro LNG liquefaction market.

Global Micro LNG Liquefaction Market: Segmentation

  • The global micro LNG liquefaction market can be segmented based on mode of supply and application
  • In terms of mode of supply, the global market can be classified into truck and barge. The truck segment is expected to expand at a fast-paced CAGR during the forecast period.
  • Based on application, the global micro LNG liquefaction market can be segregated into transportation, industrial feedstock, and others. Rise in adoption of LNG fueled trucks and buses is anticipated to boost the micro LNG liquefaction market in the next few years.

Global Micro LNG Liquefaction Market: Regional Segmentation

  • In terms of region, the global micro LNG Liquefaction market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global micro LNG liquefaction market in 2020. This trend is estimated to continue during the forecast period. According to the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA), as of January 2018, there were more than 160 LNG facilities operating in the U.S., offering a variety of services including liquefaction, storage, transportation, and regasification.
  • According to the PHMSA, there are more number of LNG facilities approved in the U.S., with a majority of them being small- and micro-scale projects. PHMSA also reports that the volume of LNG storage capacity in the U.S. rose to 57.9 million barrels in 2020 from 44.9 million barrels in 2010.
  • The micro LNG liquefaction market in Asia Pacific is expected to expand at a significant pace during the forecast period owing to the increase in usage of micro LNG liquefaction in various end-use applications such as heavy-duty vehicles and industrial & power. High growth of the market in the region can be ascribed to the growth in population, rise in disposable income, and economic growth of countries in the region. In terms of revenue, China, Japan, and Australia are major contributors to the market in Asia Pacific.

COVID-19 Impact on Global Micro LNG Liquefaction Market

  • The COVID-19 pandemic has adversely affected the global micro LNG liquefaction market. Transportation sector activities across the globe suffered temporary shut down during lockdowns. Measures such as social distancing also impacted operations. However, demand for micro LNG liquefaction is likely to recover swiftly in the near future.

Key Players in Market

The global micro LNG liquefaction market has a highly competitive landscape. The global micro LNG liquefaction market is also highly concentrated, with the top manufacturers accounting for approximately 40%–45% share.

 Prominent players operating in the micro LNG liquefaction market include:

  • Siemens
  • Snam S.p.A.
  • Baker Hughes
  • Cosmodyne, LLC
  • Galileo Technologies S.A.
  • Chart Industries Inc.
  • Eagle LNG
  • Linde Group
  • Gasnor Shell
  • Gasum
  • Gazprom

Global Micro LNG Liquefaction Market: Research Scope

Global Micro LNG Liquefaction Market, by Mode of Supply

  • Truck
  • Barge

Global Micro LNG Liquefaction Market, by Application

  • Transportation
  • Industrial Feedstock
  • Others

Global Micro LNG Liquefaction Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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