November 12, 2019
According to the latest study titled ‘Global LNG Market (Value, Volume): Analysis By Liquefaction Technology (AP-C3MR, AP-C3MR/Split MR AP-X, APC-OTHER, Shell Proprietary, CASCADE, Linde MFC, Others), By End User Application (Transportation, Industry, Commercial, Residential, Others), By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023) - By Region (Americas, Europe, APAC, MEA), By Country (India, Japan, China, South Korea, United States, Canada, Mexico, Argentina, Spain, Italy, Turkey, France)’ available with Market Study Report LLC, the global LNG market is estimated to grow substantially by the year 2023.
The global LNG market is propelled by factors such as growing need to reduce of carbon emission, in consort with increasing awareness regarding the potential of natural gas to alleviate pollution, surging demand for electricity, and various provision to access energy. Additionally, rapid price reductions as well as rising customer demands for its increased functionality are further boosting the LNG market growth.
The study examines the market for revenue shares of each segment and offers information about the growth patterns. It analyses the competitive landscape of LNG market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics influencing the market growth are also given in the report.
Based on liquefaction technology applied, the LNG market is segmented into shell proprietary, AP-C3MR/split MR AP-X, Linde MFC, AP-C3MR, CASCADE, APC-OTHER, and others. While based on end-user spectrum, the market is bifurcated into industry, transportation, residential, commercial, and others.
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Considering the geographical landscape, the global LNG market is fragmented into regions including Europe, Americas, Asia Pacific, and Middle East and Africa. As per the report, APAC LNG market is expected to grow with a CAGR of 8.40% over the predicted time period, owing to growing economy and establishment of various manufacturing facilities in the region. Moreover, regional market is presumed to be dominated by India and China over the forecast period.
Some of the vendors that operate in LNG market are Chevron, Gazprom, Total, ExxonMobil, Royal Dutch Shell, Qatargas, Engie, BP, ConocoPhillips, and Equinor.
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