The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Liquefied Natural Gas Global Market Report 2024 offers crucial insights into the liquefied natural gas market help businesses analyse and build stronger strategies.

The Liquefied Natural Gas (LNG) Market’s Upward Trajectory

• The market has witnessed robust growth, expanding from $132.78 billion in 2023 to $144.45 billion in 2024, at a CAGR of 8.8%.
• Factors driving historic growth include global energy demand, geopolitical factors, environmental regulations, infrastructure development, and price dynamics.

Understanding Liquefied Natural Gas

• LNG is natural gas cooled to -260°F, transforming it into liquid form, and is used in various sectors.
• Rising demand is fueled by increased motor petrol use and the expanding semi-urban and rural populations.
• In 2021, an average of 49.0 Bcf/d of LNG was traded globally, highlighting the market’s significance.

Key Players in the Market

• Major companies like BP PLC, Chevron Corporation, Exxon Mobil Corporation, and others play pivotal roles.
• Their strategies and investments significantly influence market dynamics.

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Technological Advancements Reshaping The Liquefied Natural Gas Market

Embracing Innovation

• Technological advancements are becoming increasingly prominent in the LNG market.
• Companies are adopting new technologies to enhance efficiency and sustainability.

A Case in Point

• New Fortress Energy Inc. integrated Honeywell UOP technology to remove contaminants from natural gas.
• This reflects a broader trend of adopting cutting-edge solutions for improved operations.

Total Energies’ Strategic Move By Acquiring Engie’s Upstream LNG Business

Expansion Strategies

• Total Energies’ acquisition of Engie’s Upstream LNG Business for $1.5 billion in March 2021 was a significant strategic move.
• This acquisition strengthened Total Energies’ position in the fast-growing LNG market and facilitated entry into the US LNG sector.

Market Segmentation

• The LNG market is segmented by type, including APCI Liquefaction Technology and Cascade Liquefaction Technology.
• Applications range from power generation to transportation fuel and other uses.

Asia-Pacific Dominates the LNG Market

Regional Influence

• Asia-Pacific emerged as the largest region in the LNG market in 2023.
• This dominance underscores the region’s importance in driving market growth.

Conclusion

The LNG market is experiencing robust growth, driven by surging demand, technological advancements, and strategic acquisitions. As the market continues to evolve, stakeholders must adapt to emerging trends and capitalize on growth opportunities. With the Asia-Pacific region leading the charge, the future of the LNG market looks promising, poised for further expansion and innovation.

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The Liquefied Natural Gas Global Market Report 2024  provides a comprehensive outlook of the liquefied natural gas market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The liquefied natural gas market forecast offers a thorough analysis on liquefied natural gas market size, liquefied natural gas market share, prominent players and their strategies.

The Table Of Content For The Liquefied Natural Gas Market Include:
1. Liquefied Natural Gas Market Executive Summary
2. Liquefied Natural Gas Market Segments
3. Liquefied Natural Gas Market Size And Liquefied Natural Gas Market Growth Rate
4. Key Liquefied Natural Gas Market Trends
5. Major Liquefied Natural Gas Market Drivers
……
25. Key Mergers And Acquisitions In The Liquefied Natural Gas Market
26. Top Liquefied Natural Gas Companies
27. Liquefied Natural Gas Market Opportunities And Strategies
28. Liquefied Natural Gas Market, Conclusions And Recommendations
29. Appendix

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