"Actionable Insights to Fuel Your Growth"
Natural gas is usually transported by sea over long distances in the form of LNG and the large scale terminals are exclusively built for import and export of LNG. The large scale LNG terminals are also used for storage, liquefaction and regasification of LNG shipped from production zones. LNG is stored in large scale terminals and is pumped into the transport network as per demand. The increase in number of suppliers and buyers has also had a positive impact on the large scale LNG terminal market.
On the basis of technology, large scale LNG terminal market can be segmented into liquefaction and regasification. The regasification terminals currently dominate the large scale LNG terminal market. On the basis of the location of storage large scale terminal market can be segmented into onshore, and offshore. Floating storage and regasification units (FSRU) require less cost and time for construction which has led to increasing in their usage throughout the world. On the basis of their applications, large scale LNG terminals can be segmented into residential, commercial and industrial. The application of LNG in the transport sector has been rising, seeing LNG as a substitute fuel for petrol and diesel.
Increase in energy demand all over the world is the key market driver for large scale LNG terminal market. Also with the emission control norms becoming increasingly strict all over the world, which has compelled industrial, domestic and commercial sectors to switch towards a clean fuel like LNG which is cleaner and economical to use, will act as a key market driver for large scale LNG terminal market.
To get information on various segments, share your queries with us
Key market restraint for the global large scale LNG terminal market is the high initial cost of installation. The LNG terminals require cryogenic materials, complex technologies and equipment for construction which increase the overall capital expenditure. Also, the absence of infrastructure required across the emerging nations is also a major market restraint for small scale LNG terminal market.
Some of the notable companies in large scale LNG terminal market are Royal Dutch Shell Plc, Santos Ltd, the Linde group, Petronas, Conoco Phillips, Rosneft, ExxonMobil Corporation, Chevron Corporation, Gazprom, Cameron LNG, and Statoil ASA.
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The large scale LNG terminal market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region has been the most dominant region in large scale LNG terminal market due to increasing demand of LNG for heavy duty vehicles and electricity generation. China has been the dominant force in this region and all over the globe, as the country has boosted the use of LNG to tackle air pollution. Followed by Japan and India in Asia Pacific region. Strict emission regulations have given growth to large scale LNG terminal market in USA and Europe. In North America, the growth of LNG demand is primarily driven by industrial and power applications. In Europe, large scale LNG terminal network is mainly concentrated in northern Europe, Spain, France, UK and Italy.