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Fairfield Market Research foresees a promising expansion of the global liquefied natural gas (LNG) market. The report entails detailed insights into growth drivers and regional dynamics that are poised to uphold market growth throughout the period of assessments.
Market Analysis in Brief
The global liquefied natural gas market is poised to witness substantial growth in the forthcoming years. This is majorly driven by the escalating demand for electricity sourced from clean energy alternatives. The increasing emphasis on distributed power and utility initiatives is expected to serve as a catalyst for market expansion. In addition to this, the projected upswing in natural gas utilisation for power generation is anticipated to generate a heightened demand for LNG across multiple sectors. While coal currently dominates the electricity production landscape worldwide, it's declining reserves and detrimental environmental impact have prompted a surge in the adoption of natural gas and other renewable energy sources for sustainable electricity generation.
Key Report Findings
Growth Drivers
Rising Demand for Natural Gas from Oil and Gas Industry
Expanding production of liquefied natural gas is setting the stage for robust expansion across the global liquefied natural gas market. Advancements in the global supply of coalbed methane, shale gas, and tight gas have resulted in the prominence of natural gas, positioning it as one of the fastest-growing fossil fuels. This has caused a substantial increase in unconventional oil and gas resources for the global oil and gas industry. The United States has successfully tapped into shale oil and gas reserves, significantly enhancing the global availability of oil and gas resources.
Moreover, it is expected that a considerable portion of the additional natural gas produced in the US will be converted into LNG for export to countries with insufficient or non-existent domestic natural gas production. Consequently, the surge in natural gas production has propelled the production of LNG, which is expected to foster the liquefied natural gas market growth throughout the forecast period.
Commoditization of LNG Unlocks Opportunities
With the increasing number of LNG producers and consumers, there has been a concurrent rise in floating liquefaction and regasification plants, as well as the sales of LNG. This has resulted in the commoditization of LNG, ultimately shaping the liquefied natural gas market into a more open, efficient, and liquid environment. In parallel, these developments are also driving digitalization and promoting transparency within the oil and gas industry.
Recently, the global LNG market has witnessed the transformation of LNG into a widely traded commodity, unveiling lucrative opportunities for stakeholders. This trend is majorly driven by the cost-effectiveness of LNG, facilitating the ongoing shift from coal to natural gas. In addition to this, the commoditization of LNG has not only accelerated trading activities but also yielded advantages for vendors.
That said, the improved interconnectivity and flexibility in LNG trading are anticipated to positively influence the global liquefied natural gas market, throughout the forecast period.
Overview of Key Segments
Power Generation Segment Takes the Lead
The global liquefied natural gas market is segmented into different applications, including transportation fuel, power generation, and others. In 2021, the power generation application segment held the largest share of the market value. The rising demand for natural gas not only satiates energy needs but also contributes to a reduction in harmful greenhouse gas emissions.
The increased utilisation of natural gas in sectors such as mining, industrial operations, and power generation has undergone significant changes, over the recent past. Declining prices and low costs associated with switching to natural gas as a fuel source has resulted in the extensive application of liquefied natural gas across transportation and power generation sectors.
Regional Segment
Asia Pacific’s Dominance Intact Being the Leading Exporter
Geographically, Asia Pacific is projected to garner a major share in the global LNG market, during the forecast period. Australia holds a prominent share of the global liquefied natural gas market. This is attributed to the region’s prominence as a major exporter of liquefied natural gas, with significant projects located in Queensland, and Western Australia.
Furthermore, India is expected to remain an attractive destination for exporters and manufacturers due to a surge in LNG infrastructure development activities. Moreover, projects for new LNG supply capacity are expected to commence operations by 2025, further creating tailwinds for the region.
On the other hand, Europe held the second-largest share of the global LNG market revenue. The region's power generation market is notably influenced by the increasing population, which serves as a significant factor. With the growing population and GDP, there is a projected surge in the demand for power generation from clean energy sources, thereby driving the LNG market in Europe.
Leading Industry Participants
The liquefied natural gas market comprises numerous players along with a few media and small-scale regional participants. Moreover, these players are focused on specialising in specific sectors to pace ahead of market competition and establish a robust presence.
Some of the most prominent players in the LNG market include Apache Corporation, BG Group Plc, Veresen Inc, Cheniere Energy Inc, ConocoPhillips, Exxon Mobil Corporation, Dominion Resources Inc, Kinder Morgan Inc, Qatar Petroleum, Sempra Energy, Royal Dutch Shell PLC, and Woodside Petroleum Ltd.
Regional Classification of the Global Liquefied Natural Gas (LNG) Market is Listed Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
1. Executive Summary
1.1. Global Liquefied Natural Gas (LNG) Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Government Regulations and Polices
2.7. Reserve Landscape
2.8. LNG Terminals Capacities & Utilization Rate, by Type
2.8.1. Liquefaction
2.8.2. Regasification
2.9. Economic Analysis
2.10. PESTLE
3. Production Output Analysis and Trade Statistics
3.1. Production Output/Supply, by Region
3.1.1. North America
3.1.2. Middle East
3.1.3. Asia Pacific
3.1.4. Europe
3.1.5. Rest of the World
3.2. Supply-Demand Analysis
4. Price Trends Analysis
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. Prices By Region
5. Global Liquefied Natural Gas (LNG) Market Outlook, 2018 - 2030
5.1. Global Liquefied Natural Gas (LNG) Market Outlook, by End-user, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Power Generation
5.1.1.2. Industry
5.1.1.3. Transportation
5.1.1.3.1. Road
5.1.1.3.2. Maritime
5.1.1.3.3. Misc.
5.1.1.4. Building
5.1.1.5. Misc.
5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. Global Liquefied Natural Gas (LNG) Market Outlook, by Region, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. North America
5.2.1.2. Europe
5.2.1.3. Asia Pacific
5.2.1.4. Latin America
5.2.1.5. Middle East & Africa
5.2.2. BPS Analysis/Market Attractiveness Analysis
6. North America Liquefied Natural Gas (LNG) Market Outlook, 2018 - 2030
6.1. North America Liquefied Natural Gas (LNG) Market Outlook, by End-user, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. Power Generation
6.1.1.2. Industry
6.1.1.3. Transportation
6.1.1.3.1. Road
6.1.1.3.2. Maritime
6.1.1.3.3. Misc.
6.1.1.4. Building
6.1.1.5. Misc.
6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. North America Liquefied Natural Gas (LNG) Market Outlook, by Country, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. U.S.
6.2.1.2. Canada
6.2.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Liquefied Natural Gas (LNG) Market Outlook, 2018 - 2030
7.1. Europe Liquefied Natural Gas (LNG) Market Outlook, by End-user, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Power Generation
7.1.1.2. Industry
7.1.1.3. Transportation
7.1.1.3.1. Road
7.1.1.3.2. Maritime
7.1.1.3.3. Misc.
7.1.1.4. Building
7.1.1.5. Misc.
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Europe Liquefied Natural Gas (LNG) Market Outlook, by Country, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Germany
7.2.1.2. France
7.2.1.3. U.K.
7.2.1.4. Italy
7.2.1.5. Turkey
7.2.1.6. Russia
7.2.1.7. Rest of Europe
7.2.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Liquefied Natural Gas (LNG) Market Outlook, 2018 - 2030
8.1. Asia Pacific Liquefied Natural Gas (LNG) Market Outlook, by End-user, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Power Generation
8.1.1.2. Industry
8.1.1.3. Transportation
8.1.1.3.1. Road
8.1.1.3.2. Maritime
8.1.1.3.3. Misc.
8.1.1.4. Building
8.1.1.5. Misc.
8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Asia Pacific Liquefied Natural Gas (LNG) Market Outlook, by Country, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. China
8.2.1.2. South Korea
8.2.1.3. Japan
8.2.1.4. India
8.2.1.5. Southeast Asia
8.2.1.6. Rest of Asia Pacific
8.2.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Liquefied Natural Gas (LNG) Market Outlook, 2018 - 2030
9.1. Latin America Liquefied Natural Gas (LNG) Market Outlook, by End-user, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
9.1.1. Key Highlights
9.1.1.1. Power Generation
9.1.1.2. Industry
9.1.1.3. Transportation
9.1.1.3.1. Road
9.1.1.3.2. Maritime
9.1.1.3.3. Misc.
9.1.1.4. Building
9.1.1.5. Misc.
9.1.2. BPS Analysis/Market Attractiveness Analysis
9.2. Latin America Liquefied Natural Gas (LNG) Market Outlook, by Country, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
9.2.1. Key Highlights
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Liquefied Natural Gas (LNG) Market Outlook, 2018 - 2030
10.1. Middle East & Africa Liquefied Natural Gas (LNG) Market Outlook, by End-user, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
10.1.1. Key Highlights
10.1.1.1. Power Generation
10.1.1.2. Industry
10.1.1.3. Transportation
10.1.1.3.1. Road
10.1.1.3.2. Maritime
10.1.1.3.3. Misc.
10.1.1.4. Building
10.1.1.5. Misc.
10.1.2. BPS Analysis/Market Attractiveness Analysis
10.2. Middle East & Africa Liquefied Natural Gas (LNG) Market Outlook, by Country, Value (US$ Mn) and Volume (Billion Cubic Meters), 2018 - 2030
10.2.1. Key Highlights
10.2.1.1. GCC
10.2.1.2. South Africa
10.2.1.3. Rest of Middle East & Africa
10.2.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Product vs Application Heatmap
11.4. Company Manufacturing Footprint Analysis
11.5. Company Profiles
11.5.1. Royal Dutch Shell
11.5.1.1. Company Overview
11.5.1.2. Product Portfolio
11.5.1.3. Financial Overview
11.5.1.4. Business Strategies and Development
11.5.2. Gazprom
11.5.3. Cheniere Energy
11.5.4. ENI
11.5.5. ExxonMobil
11.5.6. Qatargas
11.5.7. Petronet LNG
11.5.8. Chevron
11.5.9. BP
11.5.10. Saudi Aramco
11.5.11. Total
11.5.12. China National Petroleum Corporation (CNCP)
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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