• Liquefied Natural Gas Market projected to reach USD 161.98 billion in 2030
    Liquefied Natural Gas (LNG) Market, By LNG infrastructure (LNG liquefaction plants, LNG regasification facilities, and LNG shipping), By Application (Transportation Fuel, Power Generation, Others), Type (liquefaction, regasification), End- User (Residential, Commercial, and Industrial) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
    Market Overview
    The global Liquefied Natural Gas market size was estimated at USD 98.6 billion in 2023 and is projected to reach USD 161.98 billion in 2030 at a CAGR of 7.35% during the forecast period 2023-2030.
    LNG (Liquefied Natural Gas) is a type of natural gas that is cooled to a liquid for non-pressurized storage or transportation. The gas shrank 600 times after cooling, which makes it easy to store and transport. One of the advantages of gas liquefaction is that LNG does not ignite when burned in liquid form. Once the LNG has reached its destination, it is converted back into gas at regasification plants and re-supplied for residential, commercial and industrial use or for power generation. LNG is a transparent, harmless, odorless and non-corrosive gas that is competitive and provides a clean transportation fuel.
    The growth of the global Liquefied Natural Gas (LNG) market is mainly driven by the growing demand for natural gas as a cleaner and more efficient source of energy, proliferation of LNG as a transportation fuel, and government policies to reduce dependence on fossil fuels and encourage the use of natural gas, harsh winters and summers, increased demand for goods and services due to economic growth and rising oil prices are some of the main factors influencing the global LNG market. In addition, the increase in the availability of LNG from new projects and the expansion of LNG export facilities also contributed to the growth of the LNG market.
    The spread of the COVID-19 pandemic adversely affected the market, most of the LNG projects which were going to start in 2020 were postponed, the demand for LNG was negatively affected by the decrease in activity in the commercial and industrial sectors. The market has now reached the same pre pandemic scenario.
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    Liquefied Natural Gas Market projected to reach USD 161.98 billion in 2030 Liquefied Natural Gas (LNG) Market, By LNG infrastructure (LNG liquefaction plants, LNG regasification facilities, and LNG shipping), By Application (Transportation Fuel, Power Generation, Others), Type (liquefaction, regasification), End- User (Residential, Commercial, and Industrial) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). Market Overview The global Liquefied Natural Gas market size was estimated at USD 98.6 billion in 2023 and is projected to reach USD 161.98 billion in 2030 at a CAGR of 7.35% during the forecast period 2023-2030. LNG (Liquefied Natural Gas) is a type of natural gas that is cooled to a liquid for non-pressurized storage or transportation. The gas shrank 600 times after cooling, which makes it easy to store and transport. One of the advantages of gas liquefaction is that LNG does not ignite when burned in liquid form. Once the LNG has reached its destination, it is converted back into gas at regasification plants and re-supplied for residential, commercial and industrial use or for power generation. LNG is a transparent, harmless, odorless and non-corrosive gas that is competitive and provides a clean transportation fuel. The growth of the global Liquefied Natural Gas (LNG) market is mainly driven by the growing demand for natural gas as a cleaner and more efficient source of energy, proliferation of LNG as a transportation fuel, and government policies to reduce dependence on fossil fuels and encourage the use of natural gas, harsh winters and summers, increased demand for goods and services due to economic growth and rising oil prices are some of the main factors influencing the global LNG market. In addition, the increase in the availability of LNG from new projects and the expansion of LNG export facilities also contributed to the growth of the LNG market. The spread of the COVID-19 pandemic adversely affected the market, most of the LNG projects which were going to start in 2020 were postponed, the demand for LNG was negatively affected by the decrease in activity in the commercial and industrial sectors. The market has now reached the same pre pandemic scenario. Request for the Research Sample: https://www.delvens.com/get-free-sample/liquefied-natural-gas-market-trends-forecast-till-2030
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