Global Liquefied Natural Gas Market 2019-2023 | Growing Demand for LNG Bunkering to Boost Growth | Technavio

Technavio has announced its latest market research report titled global liquefied natural gas market 2019-2023. (Graphic: Business Wire)

LONDON--()--The liquefied natural gas market size is expected to post a CAGR close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

The increase in LNG production is one of the major reasons for the growth of the liquefied natural gas market. Natural gas is one of the fastest growing fossil fuels due to the increase in the global supply of coalbed methane, shale gas, and tight gas. Hence, the global oil and gas industry is expected to witness a significant increase in unconventional oil and gas resources. The increase in natural gas production will increase the production of LNG, which in turn, will boost the growth of the global LNG market during the forecast period.

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As per Technavio, the growing demand for LNG bunkering will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Liquefied Natural Gas Market: Growing Demand for LNG Bunkering

The demand for more environmentally sustainable marine fuels such as LNG is increasing due to the need to cut emissions arising from shipping activities. This has encouraged ports to develop LNG bunkering facilities. Significant developments have been made to make LNG bunkering more efficient and convenient. For instance, the universal transfer system (UTS) was developed in October 2017 to allow the transfer of LNG from an LNG carrier to bunker tanks onshore.

“The UTS substantially reduces the capital expenditure incurred on bunkering facilities and does not need any heavy infrastructure. It also allows the transfer of LNG at inaccessible locations and reduces the impact of infrastructure establishment on the environment and can be retracted when not in use. Such developments in LNG bunkering along with the implementation of stringent emission regulations will further boost the demand for LNG as a marine fuel,” says a senior analyst at Technavio.

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Liquefied Natural Gas Market: Segmentation Analysis

This market research report segments the liquefied natural gas market by end-user (power, industry, and others) and geography (the Americas, APAC, and EMEA).

The EMEA region led the market in 2018, followed by APAC, and the Americas respectively. The dominance of the LNG market share in EMEA can be attributed to several factors such as the decline in the price of natural gas, the shutdown of coal plants, and the decommissioning of nuclear power plants in countries such as France, Belgium, and Germany.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The liquefied natural gas market size is expected to post a CAGR close to 6% during the period 2019-2023, according to Technavio.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200