The report “Small-Scale LNG Market by Type (Liquefaction, Regasification), Application (Heavy-Duty Vehicles, Industrial & Power, Marine Transport), Mode of supply (Trucks, Trans-shipment & Bunkering) Region (North America, Europe, APAC, MEA) – Global Forecast to 2028“, is projected to grow from USD 46.4 billion in 2023 to USD 92.8 billion by 2028, recording a CAGR of 14.9% during the forecast period. The small-scale LNG market is being propelled by several significant factors. First and foremost is the energy cost advantage offered by small-scale LNG solutions. Compared to other conventional fuels, LNG has a lower cost, making it an attractive option for various applications. Additionally, small-scale LNG provides environmental benefits as it emits lower greenhouse gases and pollutants compared to traditional fossil fuels. This aligns with the increasing global focus on sustainability and cleaner energy sources. Furthermore, there is a growing demand for small-scale LNG across diverse sectors such as heavy-duty vehicles, industrial and power generation, and marine transport. This demand is driven by the need for efficient and cleaner energy solutions in these industries. Altogether, the combination of energy cost advantage, environmental benefits, and expanding demand from various applications positions small-scale LNG as a key player in the energy market, shaping a more sustainable and diverse energy landscape.
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• 298 Market data Tables
• 44 Figures
• 288 Pages and in-depth TOC on “Small-Scale LNG Market – Global Forecast to 2028”
Some of the prominent key players are:
- Linde plc (US)
- Wartsila Corporation (Finland)
- Honeywell International Inc. (US)
- Shell plc (UK)
- Air Products & Chemicals, Inc. (US)
- ENGIE S.A (France)
- Chart Industries, Inc. (US)
- Gasum oy (Finland)
- Sofregaz (France)
- Excelerate Energy Inc (US)
Recent Development:
| • In June 2023, Wartsila Corporation got the contract to increase the capacity of the regasification system on the floating storage and regasification unit (FSRU). This floating storage and regasification unit (FSRU) vessel is owned by LNG Hrvatska, based in Zagreb, and serves as an LNG terminal on Krk island. The Wartsila Corporation will work together with the existing regasification system on the ship and increase its capacity by 212 million standard cubic feet per day or 250,000 cubic meters per hour.
• In February 2021, Elengy, a subsidiary of ENGIE S.A, has entered into an agreement with Delta Rail, a transportation company. The purpose of this agreement is to introduce a new service for loading LNG containers from multimodal platforms in Europe. This agreement will allow customers to load LNG containers onto Delta Rail's wagons at Elengy's LNG terminals in France and Belgium, and then transport the containers to their final destinations by rail.This agreement is expected to reduce the cost and environmental impact of transporting LNG by making it possible to transport LNG containers by rail over longer distances.
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