Liquefied natural gas (LNG) is a type of natural gas that is converted into liquid form. The process of conversion is called liquefaction. LNG is extensively used, which is a factor likely to drive the demand for small-scale LNG during the forecast period.

Rising demand for electricity in recent days has augmented the demand for LNG, which has led to higher production of LNG. Several remote areas are devoid of electricity supply and increasing government initiatives about rural electrification have raised the demand for LNG in recent years. The trend is likely to continue in the next few years. Increasing industrialization and risen household requirement have increased the demand for electricity production. This, in turn, boosts the global market for small-scale LNG. LNG is also used for cooking and heating purposes and with the rising population, growth potential for the small-scale LNG market is expected to increase during the forecast period. Reduction in the prices of natural gas and fluctuation in the prices of crude oil caused by excessive production of crude oil are major drivers for the small-scale LNG market.

One of the major disadvantages of LNG projects is that the LNG production is not cost-effective. As the production process involves substantial amount of technology, prices of LNG are higher in the overall energy sector. Moreover, use of high-end technologies in the production process makes the process challenging, which restraints the growth of the small-scale LNG market. However, with the rapid advancement of technology, a cost-efficient method for the production of LNG can be achieved in the next few years.

Increasing concerns about the environment lead the worldwide energy producers to switch their production to LNG from other forms of fuel such as diesel. Stricter emission control norms by governments and international agencies have increased the production of LNG in developed as well as emerging economies. This has increased the use of LNG in commercial and industrial sectors. This is likely to offer growth opportunities for the small-scale LNG market during the forecast period. Hence, inclination toward greener and cleaner fuel creates growth opportunity for this market.

Based on type, the small-scale LNG market has been segmented into liquefaction terminal and re-gasification terminal. The regasification terminal segment holds the maximum market share, as LNG is employed power generation plants in remote areas. Development of the downstream infrastructure and logistics, LNG bunkering, trucking stations, and remote regasification terminals is raising the demand for LNG. This, in turn, is anticipated to trigger the growth of the small-scale LNG market during the forecast period.

Based on end-user, the small-scale LNG market has been classified into electric power generation, heavy-duty vehicles, marine transport, and others. There has been growing inclination toward the use of heavy-duty vehicles. Demand for LNG-fueled heavy-duty vehicles has been rising owing to their fuel efficiency. As LNG suppliers are able to offer fuel at a reasonable price, demand for LNG-fueled heavy-duty vehicles is rising. Concerns about maintaining the sustainability of environment and air quality have led to the increase in demand for fuel–efficient, heavy-duty vehicles in recent years. This is projected to propel the small-scale LNG market during the forecast period. Electric power generation is also a major end-user segment of the market, due to the growing inclination toward the use of LNG-based energy.

Geographically, the small-scale LNG market has been segmented into five regions viz. North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Asia Pacific is projected to be the rapidly expanding market for small-scale LNG, owing to the rising number of companies and power generation plants in the region. A large number of remote areas in the region come under the rural electrification project. This factor is expected to drive the market in the next few years.

Some of the key companies in the global small-scale LNG market are Honeywell International Inc., General Electric, The Linde Group, Dresser-Rand Group, Inc., and Gazprom.

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.

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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.

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Small Scale Lng Market

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