Small Scale LNG Market: Current Analysis and Forecast (2021-2027)

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The Global Small Scale LNG Market is expected to register a CAGR growth of around 2% during the forecasted period (2021-2027). This is mainly because it helps in the reduction of greenhouse gases and their impact on air quality. Moreover, another reason for the growing interest in the small-scale LNG market is that its relative economic efficiency is improving. In addition, the growing adoption of small-scale LNG in numerous end-use packages which include marine transport, and the industrial & energy sector propels the size of the market outlook. LNG is primarily used to fuel trucks and ships, mainly due to its economic and environmental benefits, as compared to diesel and fuel oil. Since LNG is non-corrosive and non-toxic, it can extend the life of a vehicle up to three times.

Some of the major players operating in the market include Buffalo Marine Service INC, Gasum Ltd, Gazprom Ltd, ENN Energy Holdings Ltd, China Petroleum & Chemical Ltd., Ovintiv Inc., Equinor ASA, Ferus Inc., Flint Hills Resources LLC, Hokkaido Gas Co. Ltd.

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Insights Presented in the Report

“Amongst Terminal type, liquefication category accounted for the majority share in the market in 2020”

Based on the terminal type, the market is classified into liquefaction and regasification. Amongst terminal types majority have witnessed growth in liquefaction. The increased export of LNG, which requires liquefaction before being transferred from one port to another, is driving this segment’s expansion. Furthermore, the increased demand for LNG is driving the growth of liquefaction terminals around the world. Exporters of natural gas in the form of LNG generally require liquefaction infrastructure while importers require regasification infrastructure.

 “Amongst locations, onshore is expected to witness highest CAGR during the forecast period”

Based on location, the market is categorized into offshore and onshore. Amongst these, the onshore location dominates the market. It is mainly owing to the easy felicitation and distribution of gas on the onshore terminals. In addition, the quantity of the gas is purer on the onshore terminal which in turn takes less time in purification as compared to the offshore terminal gas. Moreover, onshore location enables flexible supply chains to deliver to multiple smaller distributed users. Hence, the onshore location is expected to escalate the market size of small-scale LNG in the forecast period.

 “Asia Pacific to witness significant growth during the forecast period”

APAC caters significant share of the small-scale LNG market. It is mainly owing to the increasing business expansion and awareness among the customers along with the growing demand for small-scale LNG in transportation within the region. In addition, the growing economic development of China, South Korea and Taiwan coupled with growing populations, and increased disposable income are some factors expected to boost demand for small-scale LNG in the region.

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Reasons to buy this report:                      

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Global Small Scale LNG Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global small-scale LNG market were the three major steps undertaken to create and analyze the adoption of small-scale LNG in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global small-scale LNG market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the small-scale LNG market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the small-scale LNG market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as terminal type, location, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the small-scale LNG market. Further, we conducted factor analysis using dependent and independent variables such as various terminal types, location, and application, of small-scale LNG. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the small-scale LNG market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global small-scale LNG market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of Small Scale LNG market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global small-scale LNG market in terms of terminal types, location, and application.
• Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global small-scale LNG market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas terminal type, location, and application in the global small-scale LNG market.

The main objective of the Global Small Scale LNG Market Study

The current & future market trends of the global small-scale LNG market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the small-scale LNG market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas terminal type, location, and application
• Define and analysis of the regulatory framework for the small-scale LNG market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the small-scale LNG market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
• Company profiles of the small-scale LNG market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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