The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising demand for liquefied natural gas is likely to promote innovation in the manufacturing of liquefied natural gas, boosting the market during the forecast period.

The global liquefied natural gas market is expected to grow from $121.94 billion in 2022 to $132.78 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The global liquefied natural gas market size is expected to reach $178.86 billion in 2027 at a CAGR of 7.7%.

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 Global Liquefied Natural Gas Market Segments Include:

• By Type: APCI Liquefaction Technology, Cascade Liquefaction Technology, Other Liquefaction Technology
• By Application: Power Generation, Transportation Fuel, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global liquefied natural gas market in 2021.

Major Market Players in the liquefied natural gas market include BP PLC, Chevron Corporation, Eni SpA, Exxon Mobil Corporation, Total Energies, Cheniere Energy Inc., ConocoPhillips Company, Sempra, Woodside, Gazprom Energy.

Technological developments are a major trend that is gaining traction in the liquefied natural gas market. Companies in the liquefied natural gas sector are embracing new technology in order to maintain their market position. For example, New Fortress Energy Inc., a US-based energy infrastructure firm, implemented Honeywell UOP technology to remove impurities from natural gas in February 2023. Honeywell UOP manufactures gas processing technologies. Its methods for pollution removal and hydrocarbon management are used in the production of approximately 40% of the world’s liquefied natural gas.

The Liquefied Natural Gas Global Market Report 2023  provides a liquefied natural gas market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The liquefied natural gas market forecast analyzes liquefied natural gas market size, liquefied natural gas market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Liquefied natural gas is a fuel gas created by purifying natural gas and cooling it to -260°F. It is natural gas that has been cooled to become liquid.

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