rise in demand for cleaner fuels is driving the LNG Infrastructure Market

Latest News:- LNG Infrastructure Market: Liquefaction terminal is expected to lead the Type segment during 2024-2028

Technavio analyzes that the LNG Infrastructure Market is expected to grow at a CAGR of 6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4668.5 million.There are various factors that contribute to the growth of the market. The LNG infrastructure market is experiencing significant growth due to the increasing demand for cleaner fuels. Natural Gas, a key component of LNG, emits fewer greenhouse gases compared to traditional fossil fuels, making it an attractive alternative for power generation and transportation. This shift towards cleaner energy sources is driving the expansion of LNG infrastructure, including production facilities, storage tanks, and regasification terminals. As the global focus on reducing carbon emissions intensifies, the demand for LNG is expected to continue its upward trajectory, further bolstering the growth of the LNG infrastructure market.

The LNG infrastructure market encompasses the construction and operation of liquefaction terminals, which facilitate the unloading and storage of liquefied natural gas (LNG). Upon arrival at these terminals, LNG tankers are secured to the unloading berth, and articulated arms transfer the cargo to thermostable pipes leading to storage tanks. The boil-off gas produced is utilized to maintain pressure within the LNG carrier's cargo tanks. The shale gas revolution, driven by horizontal drilling and hydraulic fracturing, has significantly increased LNG production. Moreover, the energy sector's shift towards cleaner fuels and the need for energy security bolster the infrastructure market's growth. New liquefaction terminal plants are anticipated to drive expansion during the forecast period. 

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LNG Infrastructure Market Segmentation

• Type
  • Liquefaction terminal
  • Regasification terminal
• Geography
  • North America
  • APAC
  • Europe
  • Middle East and Africa
  • South America

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• Bechtel Corp.
• Cheniere Energy Inc.
• Chevron Corp.
• Chiyoda Corp.
• Exxon Mobil Corp.
• Fluor Corp.
• Gazprom Nedra LLC
• INPEX Corp.
• JGC Holdings Corp.
• John Wood Group PLC
• McDermott International Ltd.
• NextDecade Corp.
• Occidental Petroleum Corp.
• PAO NOVATEK
• PETRONAS Chemicals Group Berhad
• Shell plc
• Saipem S.p.A.
• Sempra Energy
• Steelhead LNG Corp.

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Research Analysis Overview

The LNG Infrastructure Market is witnessing significant growth due to the increasing demand for sustainable alternative energy sources, such as Natural Gas, over traditional fuels like Coal and Oil. LNG, or Liquefied Natural Gas, is a cleaner energy source for power generation, reducing carbon footprint and emissions of pollutants like sulfur oxides. LNG is used in marine vessels and heavy-duty vehicles, contributing to a cleaner environment. The power sector is shifting towards LNG imports, with the construction of liquefaction terminals, regasification terminals, and floating LNG terminals. Natural Gas Imports are set to increase, making LNG Infrastructure and LNG Projects a crucial part of the energy source mix. The terminal types include liquefaction and regasification, with renewable energy integration becoming a key trend.

Market Research Overview

The global oil and gas downstream sector, encompassing refining and marketing activities, represents a significant segment of the oil and gas value chain. This market is driven by companies specializing in the refining and distribution of oil, natural gas, and associated products. According to Technavio's market analysis, the increasing demand for cleaner energy sources, such as liquefied natural gas (LNG), is a key growth factor. This trend is fueled by population growth and industrial expansion in emerging economies like China and India, leading to a heightened need for energy. Furthermore, the shift towards LNG as a sustainable alternative to coal and oil in power generation and transportation sectors, including marine vessels and heavy-duty vehicles, is further propelling market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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