Which is the fastest growing region in LNG Market?

South America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in LNG Market?

In 2024, the Asia-Pacific accounts for the largest market share in LNG Market. Read More

What years does this LNG Market cover?

The report covers the LNG Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the LNG Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What factors are driving the growth of the global LNG Market?

The factors driving the growth of the global LNG Market are a) Increasing demand for gas power generation b) Rising adoption of LNG-fueled fleets, and supportive government policies promoting the use of natural gas Read More

LNG Market Size

Market Size of LNG Industry

Study Period	2020 - 2029
Base Year For Estimation	2023
CAGR	6.75 %
Fastest Growing Market	South America
Largest Market	Asia-Pacific
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

Liquefied Natural Gas (LNG) Market Analysis

The LNG Market size is expected to grow from USD 74.60 billion in 2023 to USD 103.41 billion by 2028, at a CAGR of 6.75% during the forecast period (2023-2028).

In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.

Over the medium term, factors such as increasing demand for gas power generation and a rising number of LNG-fueled fleets are expected to drive the global LNG market during the forecast period.
On the other hand, LNG oversupply and trade tension are expected to hamper market growth during the forecast period.
Nevertheless, a high number of LNG projects and development plans are expected to be proposed in the upcoming years, underpinned by the growing LNG demand, leading to the creation of several opportunities for market players in the African region, thus creating an emerging LNG market.

Liquefied Natural Gas (LNG) Industry Segmentation

LNG stands for liquefied natural gas, which is a clear, colorless, non-toxic liquid formed by cooling natural gas to -162 degrees Celsius, at which point it condenses into a liquid state. The liquefaction process reduces the volume of natural gas by 600 times, making it easier and more economical to transport and store. LNG infrastructure refers to the facilities, equipment, and systems needed to produce, transport, store, and distribute liquefied natural gas (LNG) from the source to the end users.

The LNG market is segmented by LNG Infrastructure (LNG Liquefaction Plants, LNG Regasification Facilities, and LNG Shipping), LNG Trade, and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts for the LNG market in terms of revenue (USD billion) for all the above segments.

LNG Infrastructure
		LNG Liquefaction Plants
		LNG Regasification Facilities
		LNG Shipping

LNG Trade

Geography

North America
	United States
	Canada
	Mexico
	Rest of the North America

Europe
	Germany
	United Kingdom
	France
	Rest of the Europe

Asia-Pacific
	China
	South Korea
	Japan
	Rest of the Asia-Pacific

South America
	Brazil
	Argentina
	Rest of the South America

Middle-East and Africa
	United Arab Emirates
	Saudi Arabia
	Rest of the Middle-East and Africa

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LNG Market Size Summary

The LNG market is poised for significant growth over the forecast period, driven by increasing demand for gas power generation and the expansion of LNG-fueled fleets. Despite challenges such as LNG oversupply and trade tensions, the market is expected to benefit from a surge in LNG projects and development plans, particularly in Africa, where emerging opportunities are anticipated. The global market has rebounded to pre-pandemic levels, with supportive government policies promoting the use of natural gas to reduce carbon emissions further bolstering demand. The liquefaction sector is expected to dominate the market, supported by the establishment of new liquefaction projects and increased global capacity.

Asia-Pacific remains a dominant force in the LNG market, both as a leading importing and exporting region. The region's share of global LNG imports has increased, with China experiencing substantial growth in imported volumes. This growth is supported by government-backed LNG projects and strategic plans to enhance natural gas infrastructure. The region's continued expansion in LNG imports and exports underscores its pivotal role in the global market. The LNG market is characterized by fragmentation, with major players like Fluor Corporation, TechnipFMC PLC, Bechtel Corporation, Shell PLC, and Gasum AS actively participating in various projects worldwide, further shaping the market landscape.

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LNG Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD billion, till 2028
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
  2. 1.5.2 Restraints
6. 1.6 Supply Chain Analysis
7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis
  1. 1.7.1 Bargaining Power of Suppliers
  2. 1.7.2 Bargaining Power of Consumers
  3. 1.7.3 Threat of New Entrants
  4. 1.7.4 Threat of Substitute Products and Services
  5. 1.7.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 LNG Infrastructure
  1. 2.1.1 LNG Liquefaction Plants
  2. 2.1.2 LNG Regasification Facilities
  3. 2.1.3 LNG Shipping
2. 2.2 LNG Trade
  1. 2.2.1
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
    4. 2.3.1.4 Rest of the North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 France
    4. 2.3.2.4 Rest of the Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 South Korea
    3. 2.3.3.3 Japan
    4. 2.3.3.4 Rest of the Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of the South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 United Arab Emirates
    2. 2.3.5.2 Saudi Arabia
    3. 2.3.5.3 Rest of the Middle-East and Africa