According to IMARC Group’s latest research report, titled “Planned LNG Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” report by IMARC Group offers a detailed analysis of the industry, including planned LNG market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Planned LNG Market?
The global planned LNG market size reached US$ 46.28 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.47 Billion by 2028, exhibiting a growth rate (CAGR) of 8.10% during 2023-2028.
What is Planned LNG?
Planned LNG refers to the process of strategically designing and implementing liquefied natural gas (LNG) projects with careful consideration of various factors. These projects involve meticulous planning, feasibility studies, and assessment of market demands and supply chains. It utilizes various technologies to deposit, transport, and process LNG, such as compression, refrigeration, heat exchangers, and cryogenic tanks. It plays a significant role in diversifying energy sources, promoting economic growth, and reducing greenhouse gas emissions. As a result, it is widely used in cooking, residential, and commercial heating, electricity production, farm equipment, vehicles, ships, and industrial processes. It also finds extensive applications across the automotive, power generation, agriculture, mining, chemical, transportation, marine, and manufacturing industries.
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What are the Growth Prospects and Trends in the Planned LNG Market?
The rising demand for LNG as a cost-effective, cleaner, and more efficient energy source is driving the global market. Moreover, the widespread utilization of LNG in residential and commercial spaces is catalyzing the market. Besides this, continual advancements in LNG technologies, such as liquefaction, storage, transportation, and regasification, have improved efficiency and reduced costs associated with the LNG value chain, thus providing a boost to the market. Furthermore, the development of LNG infrastructure, including terminals, pipelines, and storage facilities, is creating a positive market outlook. Apart from this, the integration of the Internet of Things (IoT) technology to optimize LNG production, monitor the conditions of storage tanks and cargos, and prevent potential issues, such as leaks, equipment failure, and pressure change, is propelling the market.
Who are the key Players Operating in the Industry?
- Cheniere Energy Inc
- Chevron Corporation
- ConocoPhillips Company
- Energy Transfer LP
- Equinor ASA
- Exxon Mobil Corporation
- Freeport LNG
- Gasum Ltd (Gasonia Oy)
- PETROBRAS
- Sempra Energy
- Shell Plc
- Venture Global LNG
What is included in Market Segmentation?
Technology Insights:
- Liquefaction
- Regasification
End Use Industry Insights:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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