Small Scale LNG Market 2019- Global Industry Analysis, By Key Players, Segmentation, Trends and Forecast By 2025

PUNE, MAHARASHTRA, INDIA, September 19, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Small Scale LNG Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
Global Small Scale LNG Market

According to the latest report added to the online inventory of Wise Guys Report (WGR) the Global Small Scale LNG Market has recorded an unprecedented growth so far and the extrapolated growth indicates further rise by 2024 registering a healthy CAGR within the forecast timeline.
Liquefied Natural Gas (LNG) is mostly used as vehicular fuel and for generating power. Instead of re-gasification technique used before discharging into Gas Transmission Grid in the conventional model, LNG terminals discharge natural gas in liquid form. LNG is a better alternative that serves as a conscious step toward greener and cleaner fuel. Technological advancements in the field of renewable energy generation have highly propelled the LNG market landscape. The LNG market is backed by government initiatives and tax benefits and endorses environment friendliness by leaving lesser carbon footprint through reduced carbon emission. Shortage of LNG terminal infrastructure and high initial capital cost restricts the growth of the LNG market. Volatility of LNG fuel prices also adds a certain level of uncertainty to the overall expansion of and adoption of LNG in the market as mainstream fuel. The scope of growth is high for LNG through the construction of more and more LNG terminals and power grids.

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Global Small Scale LNG Market: Segmental Analysis
The segmentation of the global small scale LNG market can be done on basis of terminal type, the mode of transportation of LNG cylinder and their application in different industry verticals.
The small scall LNG market is bifurcated by the type of terminal namely Liquefaction terminals and Re-gasification terminals. Liquefaction terminals have more projected growth in the forecast timeline due to rising demands in distant and remote locations such as islands and ships. Re-gasification terminals are conversion checkpoint of LNG from liquid to gaseous form and used mostly in importation of LNG supply.
Based on the transport model adopted the market is classified as trucks and tankers, shipping and bunkering and others that include pipelines and railways. Long distances are mostly covered by trucks and tankers. Shipping off LNG to remote locations is mostly done by shipping and bunkering.
Categorization based on application indicates LNG utility in marine fuel, vehicular fuel, power generation at industrial level and others. LNG has found wide application as marine fuel due to stringent regulations governing use of fuel with low sulphur content. Use of LNG at an industrial level power generation is also expected to gain popularity in the coming years.
Based on the mode of transportation, the market is categorized into trucks and tankers, shipping & bunkering and others including pipelines and railways. The most widely used modes of transport include trucks and tankers for long-haul distances, truck-to-ship bunkering, and LNG filling in remote locations accessible by road. The shipping and bunkering mode of transportation is also expected to witness an increase in demand owing to transmission of small scale LNG fuel to marine ships in off-shore locations and remote islands.
By application, the market is segmented into marine fuel, heavy-duty vehicles fuel, Industrial power generation and others. Bunkering and transportation of marine fuel form the bulk part of a market share regarding application owing to the implementation of stringent regulations aimed at reducing fuel emissions and use of small scale LNG as fuel which has lower sulfur content. For instance, in June 2018, Total and Pavillion Energy signed an agreement to jointly develop a LNG bunker supply chain for marine vessels in the port of Singapore. The industrial power segment will also expect faster growth rate driven by the need for remote island-based countries in Southeast Asia and the Mediterranean Sea.

Global Small Scale LNG Market: Regional Analysis

Global Small Scale LNG is widely used in Asia, Europe and America attributed to the promotional campaigns undertaken by the respective governments and growing demand for more products in less time. A comprehensive study of the market condition put North America (United States, Canada and Mexico), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), Europe (Germany, France, UK, Russia and Italy), South America (Brazil, Argentina and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa) as the most significant contributors to the global agriculture and forestry machinery market.

Key Players of Global Small Scale LNG Market =>
Europe is the leading region by market share owing to widespread use of small scale LNG as an alternative to crude oil, enactment of federal regulations, especially pertaining to sulfur content in marine fuel and continued investment into the development of small scale LNG supply by key market players such as Royal Dutch Shell PLC, Engie SA, Gasum Oy, and Gazprom. Increased demand for power generation in off-grid remote locations such as islands in the Mediterranean Sea have also increased the supply of small scale LNG.
The region of Asia-Pacific is expected to witness faster growth rate during the forecast period with environmentally-driven increases in Chinese demand and better maintenance measures of nuclear power plants in South Korea significantly contributing to the rise in demand. Additionally, Japan’s need to secure stable, inexpensive and clean alternative energy resources has driven the application of LNG in the country, making Japan the world’s biggest LNG consumer. The occurrence of seasonal uplift in spot shipping market originating from strong winter demand in Asia is also expected to boost overall market revenues.

Industry Trend:
The market is highly competitive and volatile owning to regional changes and product launches that affect the overall global platform.
Currently the Global Small Scale LNG Market is driven with good returns and higher anticipation of future returns backed by new product launches, deployment of new acquisition and expansive strategies adopted by the leading global manufacturers and providers of agriculture and forestry machinery targeting to tap the market potential to the fullest.

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NORAH TRENT
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Source: EIN Presswire