Small Scale Liquefied Natural Gas (SSLNG) market is projected to grow at a CAGR of 9.0% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Small Scale Liquefied Natural Gas (SSLNG) 2023-2033. It includes profiles of Small Scale Liquefied Natural Gas (SSLNG) and Forecasts Market Segment by Plant Process (Gas Treatment, H2S/CO2 Removal, Dehydration, Heavy Component Removal, LNG Liquefaction, Other Plant Process) Market Segment by Transport (Small LNG Carriers, Small LNG Trucks, Other SSLNG Transport) Market Segment by Value Chain, (SSLNG Liquefaction Plant, SSLNG Storage, SSLNG Transport, SSLNG Re-gasification) Market Segment by Re-Gasification, (Open Rack Vaporisers (ORV), Submerged Combustion Vaporisers (SCV), Ambient Air Vaporisers (AAV), Odorisation, Send-out, and Delivery, Other Re-Gasification) Market Segment by Storage, (Single Containment Tanks, Double Containment Tanks, Full Containment Tanks, Pressurized Small Tanks, Membrane Tanks, In-ground Tanks) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The global small scale liquefied natural gas (SSLNG) market was valued at US$6.81 Billion in 2022 and is projected to grow at a CAGR of 9.0% during the forecast period 2023-2033.
The Need for Liquefied Natural Gas (LNG) Has Grown Due to the Growing Energy Demand, Leading to an Increase in LNG Production (LNG)
The increasing need for energy sources that are both economical and efficient in terms of energy use is one of the main factors fuelling the market's expansion. Additionally, the product's widespread acceptance in the transportation sector is accelerating market expansion. The requirement for liquefied natural gas (LNG) has grown due to the growing energy demand, leading to an increase in LNG production (LNG). As a result of government initiatives to boost rural electrification and the abundance of distant places without power, demand for liquefied natural gas has surged (LNG). Small Size LNG has a promising future. The growing demand for natural gas and the need for cleaner fuel options are propelling the sector forward. Technology advancements are also making Small Scale LNG more cost-effective and accessible, which will encourage its use in a variety of applications.
Nevertheless, the Small Scale LNG industry has several obstacles. One of the most significant obstacles is a lack of infrastructure for distributing and storing LNG, particularly in developing nations. This makes it harder for Small Scale LNG producers to reach markets and may limit the industry's development potential. Another difficulty is competition from alternative fuels used for power generation and transportation, such as propane and diesel. While LNG has certain advantages over traditional fuels, such as reduced emissions and cheaper costs, it can also be more expensive to develop and transport.
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How has COVID-19 had a significant negative impact on the Small Scale Liquefied Natural Gas (SSLNG) Market?
The pandemic has also had an impact on the demand for SSLNG. While demand for LNG as a cleaner and cheaper alternative to traditional fuels has continued to grow, the pandemic has affected the industries that use LNG as a fuel. For example, the slowdown in global trade has reduced the demand for LNG in the shipping industry. Similarly, the decrease in travel has led to a reduction in the demand for LNG as a fuel for transportation.
On the supply side, the pandemic has disrupted the production and transportation of natural gas. This has led to supply shortages in some regions, which could affect the availability and price of LNG.
Despite these challenges, the SSLNG market is expected to recover and continue to grow in the coming years. The demand for cleaner fuels is expected to increase as countries aim to meet their emissions reduction targets, and the SSLNG industry is well-positioned to meet this demand. However, the pandemic has highlighted the need for greater resilience and flexibility in the SSLNG supply chain, and companies will need to adapt to the new realities of the post-pandemic world.
How will this Report Benefit you?
Visiongain’s 381-page report provides 171 tables and 203 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global small scale liquefied natural gas (SSLNG) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Small Scale Liquefied Natural Gas (SSLNG). Get financial analysis of the overall market and different segments including plant process, transport, storage, value chain, regasification, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing small scale liquefied natural gas (SSLNG) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Need for Reliable and Affordable Energy in Off-Grid Areas
The need for reliable and affordable energy in off-grid areas is a driver of the small-scale LNG market because traditional energy sources may not be easily accessible or cost-effective in these areas. Small-scale LNG facilities can provide an alternative solution for off-grid power generation, heating, and cooking, especially in remote and rural areas where access to electricity and natural gas infrastructure is limited. Small-scale LNG facilities can be easily transported and installed, and can operate independently, providing a reliable and cost-effective energy source for off-grid communities. This is particularly important in developing countries where access to electricity is limited, and where the use of traditional energy sources such as diesel generators can be expensive and have negative environmental impacts.
Growing Demand for Natural Gas as a Cleaner Energy Source
Growing demand for natural gas as a cleaner energy source is one of the key drivers of the small-scale LNG market. As the world continues to shift towards cleaner and more sustainable forms of energy, natural gas is increasingly being recognized as an attractive alternative to coal and oil.
Compared to coal and oil, natural gas emits significantly less carbon dioxide (CO2) when burned, making it a cleaner and more environmentally friendly fuel source. In addition, natural gas is abundant, with vast reserves located around the world, making it a reliable and secure source of energy.
However, the transportation of natural gas in its gaseous form over long distances can be challenging and costly, which is where small-scale LNG comes in. By liquefying natural gas, it becomes more compact and easier to transport over longer distances, making it a more viable option for areas that are not served by pipelines or that have limited pipeline capacity.
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Where are the Market Opportunities?
Limited Pipeline Infrastructure in Remote Areas
Limited pipeline infrastructure in remote areas is a significant driver for the small-scale LNG market. In remote areas, it may not be economically feasible or technically possible to build a pipeline to transport natural gas. In such cases, small-scale LNG facilities can be used to liquefy natural gas at the source, transport it via road, rail, or sea to the remote location, and then re-gasify it for use. This provides an alternative means of delivering natural gas to areas that would otherwise have limited access to this fuel source.
Small-scale LNG facilities offer several advantages over traditional pipeline infrastructure in remote areas. For example, small-scale LNG facilities can be quickly deployed and provide greater flexibility than pipelines. They also require less capital investment and can be easily scaled up or down depending on demand. Additionally, small-scale LNG facilities can provide a reliable and affordable source of energy to remote communities, which may otherwise rely on more expensive and less environmentally friendly fuel sources such as diesel or heavy fuel oil.
Increased Focus on Reducing Carbon Emissions
The increased focus on reducing carbon emissions is a significant driver of the small-scale LNG market. As countries and industries move towards decarbonization and cleaner energy sources, natural gas and LNG are becoming more attractive as alternatives to coal, oil, and other fossil fuels.
Small-scale LNG facilities can help to reduce carbon emissions by providing an alternative to diesel fuel in heavy-duty vehicles, marine vessels, and off-grid power generation. LNG produces fewer emissions of greenhouse gases, sulfur oxides, and nitrogen oxides compared to traditional fuels, making it a cleaner and more sustainable option.
Competitive Landscape
The major players operating in the small scale liquefied natural gas (SSLNG) market are Buffalo Marine Service INC, Gasum Oy, Gazprom ltd, ENN Energy Holdings Ltd., China Petroleum & Chemical Corporation (SINOPEC), Encana (Ovintiv Inc), Equinor ASA, Ferus Inc., Flint Hills Resources LLC, Hokkaido gas co., ltd., Japan Petroleum Exploration Co., Ltd., Nippon Gas Co., Ltd, Petronas Dagangan Berhad, Polish Oil and Gas Company (PGNiG), Royal Dutch Shell Plc., . These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
15 Nov 2022, Gasum, Pavilion Energy, and CNOOC Gas and Power Group have signed a strategic collaboration agreement to strengthen the global LNG bunker supply network for their customers in the world's top three bunkering regions: Singapore, North-West Europe (including Amsterdam, Rotterdam, and Antwerp), and China coastal areas.
22 Nov 2022, China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") and QatarEnergy have signed a long-term Liquified Natural Gas (LNG) purchase and sales agreement for a four-million-tonne annual supply of LNG to Sinopec.
To access the data contained in this document please email oliver.davison@visiongain.com
To find more Visiongain research reports on the Energy sector, click on the following links:
Liquefied Natural Gas (LNG) Storage Tank Market Report 2021-2031
Liquefied Natural Gas (LNG) Bunkering Market Report 2021-2031
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Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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Visiongain Reports Limited
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