"Actionable Insights to Fuel Your Growth"

Liquefied Natural Gas (LNG) Market Size, Share & Industry Analysis, By Application (Transportation Fuel, Power Generation, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105503 | Status : Ongoing



Liquefied natural gas (LNG) is an odorless and colorless liquid, which is formed by cooling natural gas to -162°C. The liquefaction process shrinks the volume of gas by 600 times, making it easier to store and ship. When this gas reaches its destination, it is again converted into gas by regasification process and transported through vessels and pipes to end-use consumers. Liquefied natural gas is an emerging fuel due to its cleanest burning nature as compared to petrol, and diesel. Vital drivers such as growing demand for a clean source of energy from several end-use industries, government initiatives to strengthen gas pipeline infrastructure, and substantial growth in global natural gas liquefaction capacity are expected to fuel the growth of the global liquefied natural gas market over the forecast period.

Based on the application, the market is segregated as a transportation fuel, power generation, and others. The power generation application segment accounted for the largest share in 2019. The growth of the power generation segment is owing to the growing preference for cleaner energy sources for power generation. For instance, according to Mexico’s National Energy Ministry (SENER), over 60% of Mexico’s electric capacity additions will be from natural gas-fired power plants till 2020. The growth of the transportation fuel segment is ascribed to the increasing use of liquefied natural gas as fuel in vehicles across European countries and China.

Rapid growth in pipeline infrastructures with favorable government regulations, rising demand for natural gas from several industries, and fluctuation in oil prices are some of the major factors fueling the industry growth. Growing industrialization and urbanization, along with a growing number of power-related projects, such as petrochemicals and city gas distribution (CGD), are likely to provide a stimulus to market growth. However, inadequate pipeline infrastructure in remote locations is likely to hinder the market growth.

Up Arrow

Key Market Driver -

Rising demand for natural gas from several industries

Down Arrow

Key Market Restraint -

Inadequate pipeline infrastructure in remote locations

Key Players Covered:

Some of the major companies in the liquefied natural gas (LNG) market are Exxon Mobil Corporation, Royal Dutch Shell PLC, Apache Corporation, BG Group Plc, Cheniere Energy Inc, ConocoPhillips, Dominion Resources Inc, Kinder Morgan Inc, Qatar Petroleum, Sempra Energy, Veresen Inc, and Woodside Petroleum Ltd.

Regional Analysis:

The global LNG market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is expected to grow at the highest CAGR during the forecast period. In 2019, globally LNG imports grew over 12% during the first nine months. Where China’s LNG import increased by 14-16% in 2019. Australia is one of the global exporters of liquefied natural gas, with major projects in Queensland and Western Australia. India is expected to remain an attractive location for exporters and manufacturers owing to the upsurge in infrastructure development. Approximately over 30% of the new LNG supply capacity is under construction and is expected to come online by 2025.

Europe & North America regions are also expected to grow significantly during the forecast period. According to IEA, the U.S. LNG export capacity increased from less than 1 billion cubic feet per day (Bcf/d) in 2016 to nearly 9 Bcf/d at the end of 2019. In 2019, U.S. LNG exports reached a record high of about 1,819 Bcf to 38 countries, and LNG exports accounted for 39% of total U.S. natural gas exports. About half of the LNG exports went to five countries in 2019. In 2019, the U.S. imported about 52.8 Bcf of LNG from just four countries. This was the lowest amount since 1996 and equal to about 2% of total U.S. natural gas imports.

To gain extensive insights into the market, Request for Customization





By Application


  • Transportation Fuel

  • Power Generation

  • Others


By Geography


  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Spain, Italy  and Rest of Europe)

  • Asia Pacific (Japan, China, India, 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)

Key Industry Developments

  • In January 2021, Ghana is set to open sub-Saharan Africa’s first liquefied natural gas-to-power plant as it moves to position itself as a hub for cleaner and cheaper fuel in the region.

  • In December 2019, the USD 10 billion liquefied natural gas facility on the Gulf Coast of Louisiana which is owned by a subsidiary of San Diego’s Sempra Energy has successfully opened a second unit that will soon export natural gas to markets across the globe.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

The Japan Research

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.