San Francisco, 18 February 2019: The Report Liquefied Natural Gas (LNG) Market Analysis By Application (Transportation Fuel, Power Generation, Mining & Industrial), By Region, And Segment Forecasts, 2018 - 2025
The global Liquefied Natural Gas (LNG) Market is expected to reach USD 20.6 billion by 2025, growing at a CAGR of 12.7%, according to a new report by Grand View Research, Inc. Rising focus on development and expanding gas pipeline infrastructure and growing demand for natural gas from downstream sectors is a crucial driving factor for the industry.
Decreasing LNG prices along with execution of favorable government rules and regulations, which are attracting FDIs & tax schemes are also conducive to industry growth. Cumulative emphasis of adequate support infrastructure in numerous economies is anticipated to enhance product demand in the construction sector, since the product is used in building equipment.
On the contrary, insufficient channel infrastructure is supplementing demand for small scale projects to source natural gas for key consumers in remote areas, specifically in the power generation and industrial manufacturing verticals. Rapid urbanization, industrialization and increasing projects supporting power, gas & petrochemical distribution are projected to positively provide stimulus to the industry.
Power generation accounted for 46% of the volume share in 2016, and is anticipated to grow at over 6.9% CAGR from 2017 to 2025. Power generation plants are gradually shifting from naphtha-based feedstock towards LNG in order to provide cost-competitiveness and enhanced delivery times while also receiving support in the form of favorable regulations encouraging these trends.
Access Research Report of LNG Market @ www.grandviewresearch.com/industry-analysis/liquefied-natural-gas-lng-market
Further key findings from the report suggest:
Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/construction-and-utilities
Grand View Research has segmented the global liquefied natural gas market on the basis of application, and region:
LNG Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
LNG Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Access Press Release of LNG Market@ www.grandviewresearch.com/press-release/global-liquefied-natural-gas-lng-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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