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2020

Planned LNG Market

Planned LNG Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology (Liquefaction and Regasification) and End- Use Industry (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020-2030

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Author's: Amit Narune and Eswara Prasad | Eswara Prasad
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Planned LNG Market Statistics - 2030

The global planned LNG market was valued at $102.2 billion in 2019, and is projected to reach $58.9 billion by 2030, growing at a CAGR of 9.9% from 2020 to 2030. Inclusion of regasification and liquefaction capacity at LNG terminals is known as planned LNG. Liquefaction can be defined as the physical transformation of gas into liquid. This liquefaction of gas is processed by compression, or by refrigeration, or both in combination. Regasification is a process of transforming liquid LNG into gaseous form. In this process, heat exchangers are used for increasing the temperature of LNG.

The planned LNG market is anticipated to witness significant growth due to numerous factors such as technological advancement, rise in demand for LNG from Asia-Pacific, and others. The liquefied natural gas industry is transforming with the development of technology and the rise of new demand sources. Technological advancement makes the production, liquefaction, and storage of LNG gas achievable at offshore. Floating liquefaction is a relatively new technology, as compared to floating regasification, which has rapidly established itself in the market. However, delay in LNG project is one of the major factors hindering the planned LNG market growth. Most of the LNG projects were going to start its operation in 2020 but there is a delay, owing to outbreak of COVID-19. On the contrary, demand from various types of end users is increasing the consumer base of LNG and providing lucrative opportunities to the market. Asia-Pacific was the largest importer of LNG in 2019; however, the COVID-19 virus outbreak has negatively impacted the demand for LNG. Furthermore, there is a decline in the demand for LNG from China in 2020, and it is anticipated to be the same for other countries as the virus continues to spread. This is attributed to factors such as lower activity of the industrial and commercial sectors. 

Planned LNG Market-2020-2030

The planned LNG market is segmented on the basis of technology, end-use industry, and region. By technology, the market is divided into liquefaction and regasification. The end-use industry covered in the study includes residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Planned LNG market share is across all the main regions.

The planned LNG market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Chevron Corporation, Royal Dutch Shell plc, Exxon Mobil Corporation, LNG Croatia LLC, Energy Transfer LP, Cheniere Energy, Inc., Freeport LNG, PETROBRAS, Sempra Energy, ConocoPhillips Company, Equinor ASA, Korea Gas Corporation, Venure Global LNG, and Gasum.

Other players in the value chain of the market include Tokyo Gas Co Ltd, Hitachi, Petronet LNG Ltd, Samsung, C&T Corporation, CTCI Resources Engineering Inc., and others.

The key players are adopting numerous strategies such as partnership, business expansion, acquisition, partnership, collaboration, and agreement to stay competitive in the market.

For instance, in September 2019, Freeort LNG & Redwood Markets, Inc. launched virtual private storefront to sell liquefied natural gas cargoes inside the Redwood Marketplace. This will strengthen the LNG business of the company.

In addition, in October 2019, Sempra Energy signed an agreement with Mitsui & Co. Ltd. This agreement aimed at future expansion of the Energía Costa Azul (ECA) LNG project in Baja California, Mexico, and will grow U.S. LNG export.    

Planned LNG Market, by Technology

By technology, liquefaction has garnered high share in the market in 2019. This is attributed to increase in new liquefaction terminals or expansion of liquefaction capacity in major exporting countries such as the U.S., Qatar, Australia, and others. In addition, an onshore regasification terminal accounted for the highest market share in 2019. This is attributed to factors such as longer-term supply security, greater storage capacity, less operating expenditure, and others. 

Planned LNG Market
By Technology
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Liquefaction is projected as the most lucrative segment.

Planned LNG Market, by End-Use Industry

On the basis of end-use industry, the industrial sector has garnered highest market share in 2019. This is attributed to increase in demand for LNG from industrial sector, owing to rise in concerns regarding pollution. For instance, some of the countries in developed and developing region reduced its dependency on coal for power generation due to rise in pollution levels. 

Planned LNG Market
By Application
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Industrial is projected as the most lucrative segment.

Planned LNG Market, by Region

Region wise, Asia-Pacific has garnered highest share in planned LNG market in 2019. The LNG regasification capacity is more in the Asia-Pacific region due to the presence of largest LNG importing countries such as Japan, South Korea, China, and India. China is anticipated to become largest importer of LNG in coming years, owing to rise in demand from industrial sector. In addition, North America has the second highest market share. U.S. is one of the largest exporters of LNG, owing to factors such as increase in natural gas production; decrease in natural gas imports by pipeline, decrease in LNG imports, and expansion of LNG export terminal capacity.

Planned LNG Market
By Region
2030
Lamea 
North America
Asia-Pacific

Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

Key Benefits For Stakeholders

  • Planned LNG market forecast is studied from 2020 to 2030

  • The report provides an in-depth analysis of the market along with the current and future market trends

  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period

  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the planned LNG industry for strategy building

  • The qualitative data in this report aims on market dynamics, planned LNG market trends, and developments

  • A comprehensive analysis of the factors that drive and restrain the planned LNG market growth is provided

  • The planned LNG market size is provided in terms of revenue and volume

Key Market Segments

By Technology

  • Liquefaction
  • Regasification

By End-Use Industry

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • Croatia
    • Cyprus
    • Turkey
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Malaysia
    • Thailand
    • Bangladesh
    • Philippines
    • Vietnam
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Argentina
    • Bahrain
    • Nigeria
    • Jamaica
    • Ghana
    • Mozambique
    • Mauritania
    • Kuwait
    • El Salvador
    • Qatar
    • Rest of LAMEA

Planned LNG Market Report Highlights

Aspects Details
Planned LNG Market By TECHOLOGY
By TECHOLOGY
  • Liquefaction
  • Regasification
Planned LNG Market By END-USE INDUSTRY
By END-USE INDUSTRY
  • Residential
  • Commercial
  • Industrial
Planned LNG Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Russia, Croatia, Cyprus, Turkey, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, Thailand, Malaysia, Indonesia, Bangladesh, Philippines, Vietnam, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Argentina, Bahrain, Nigeria, Jamaica, Ghana, Mozambique, Mauritania, Kuwait, El Salvador, Qatar, Rest of LAMEA)
Key Market Players
Key Market Players

KOREA GAS CORPORATION, EQUINOR ASA, ENERGY TRANSFER LP, VENTURE GLOBAL LNG, ROYAL DUTCH SHELL PLC, CONOCOPHILLIPS COMPANY, EXXONMOBIL CORPORATION, GASUM OY, CHENIERE ENERGY, INC, SEMPRA ENERGY, PETRÓLEOBRASILEIRO S.A. (PETROBRAS), .FREEPORT LNG, LNG CROATIA LLC, CHEVRON CORPORATION

Analyst Review

The planned LNG market is witnessing significant growth, owing to high consumption of LNG from the developing regions such as Asia-Pacific. Asia-Pacific is a demand center for the market because of emerging countries such as India and China. In coming years China is anticipated to dominate the LNG demand, owing to rise in industrial activities, growth in population, shift from coal to other clean energy sources, and others. In addition, the liquefaction capacity is expected to increase in countries such as the U.S., Qatar, Russia, and Canada. North America is expected to dominate the planned LNG market in terms of liquefaction, owing to rise in projects from the U.S and Canada. However, financial investment decisions (FID) of LNG projects may get delayed in 2020, owing to COVID-19 outbreak, which is expected to hinder the market growth.

Author Name(s) : Amit Narune and Eswara Prasad | Eswara Prasad
Frequently Asked Questions?

In terms of volume, the planned LNG market is anticipated to grow at a CAGR of 3.4% and in terms of revenue it is anticipated to grow at a CAGR of 9.9% during 2020 to 2030.

Planned LNG market for liquefaction garnered share of 64.1% in 2019.

To get latest version of planned LNG market report can be obtained on demand from the website.

The key trends in the planned LNG market are adoption of small scale LNG projects, adoption of LNG offshore projects, and others.

In terms of volume, the market size of planned LNG market is 66,360.0 thousand tons, and in terms of revenue, the market size of planned LNG market is $102,184.5 million in 2019.

The top ten market players are selected based on two key attributes - competitive strength and market positioning

On the basis of technology liquefaction is the influencing segment, and on the basis of end-use industry, industrial and commercial is the influencing segment.

Factors affecting the planned LNG market are delay in new LNG projects, delay in capacity expansion projects owing to COVID-19 outbreak.

The key growth strategies adopted by key players in the market are agreement, collaboration, business expansion, acquisition, partnership, and others.

Royal Dutch Shell PLC, Petrobras, Chevron Corporation, Exxon Mobil is some of the companies having the highest market share in the planned LNG Market.

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Planned LNG Market

Global Opportunity Analysis and Industry Forecast, 2020-2030