Small-Scale LNG Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Small-Scale LNG Market size is valued at USD 2.4 billion in 2021 and is expected to reach a value of USD 2.9 billion by 2028, growing at a CAGR of 2.7% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market, which has been segmented by terminal type, mode of supply, storage tank type, and application. The Small-Scale LNG market has been segmented by terminal type into Liquefaction Terminal and Regasification Terminal. The Liquefaction Terminal segment is likely to be the largest and fastest-growing segment in terms of product. By mode of supply, the small-scale LNG market is segmented into Truck, Trans-Shipment & Bunkering, Pipeline & Rail, and Others. The Pipeline & Rail segment accounted for a significant revenue share in 2021. The small-scale LNG is segmented by storage tank type into Pressurized, Atmospheric Tank, and Floating Storage Unit (FSU). The Pressurized segment will hold a significant revenue share over the forecast period. The Small-Scale LNG is segmented based on application into Electrical Power Generation, Industrial Feedstock, Transportation, and Others. According to precision business insights, the Transportation segment is predicted to register the fastest growth rate during the forecast period.

Key developments:

In February 2021, OLT Offshore LNG Toscana SpA (OLT) announced the next step toward finalizing the small-scale LNG project. The authorization from the Ministry of Economic Development, in agreement with the Ministry of Infrastructures and Transport and the Tuscany Region, provided the discharge of LNG on small-scale LNG carriers.