Bronx, United States, Tue, 08 Sep 2020 13:44:53 / Comserve Inc. / -- The global LNG infrastructure market is anticipated to grow at a CAGR of around 5.5% during the forecast period, i.e. 2020-2028.
Research Nester has released a report titled “Liquefied Natural Gas (LNG) Infrastructure Market – Global Demand Analysis & Opportunity Outlook 2028”which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The International Energy Agency (IEA), in one of its statistics stated that imports of natural gas around the world reached to 45875233 TJ in the year 2017 from 38382048 TJ in the year 2010.
The statistics portray the growing trade of LNG as an energy source around the world on the back of rising demand for natural gas across nations along with the increasing need for clean energy sources. Backed by the presence of several natural gas resources in countries worldwide, companies are increasingly investing to develop several LNG projects as the initial investment costs and installation time frame are lower and shorter for setting up floating storage and regasification units (FSRUs), along with the need to mitigate the rising demand of LNG amongst the nations worldwide. CLICK TO DOWNLOAD SAMPLE REPORT
As such, several LNG infrastructure companies are also providing rapid and flexible import solutions, for instance floating storage and regasification units. With the increasing trade, an upsurge in the competition and diversity among the suppliers and customers is also anticipated, which in turn is expected to drive the growth of the global LNG infrastructure market.
The global LNG infrastructure market is anticipated to grow at a
CAGR of around 5.5% during the forecast period, i.e. 2020-2028. The market is segmented by terminal type into liquefaction and regasification. Among these segments, regasification terminal segment is anticipated to hold the largest market share on account of development of several floating regasification projects, increasing regasification capacity around the world and for meeting the growing demand for LNG across end users by the addition of several new regasification capacities, presently which are under construction. The International Gas Union (IGU), in one of its statistics stated that regasification capacity including the floating regasification terminals around the world reached to 824 MTPA by February 2019.
Geographically, the global LNG infrastructure market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Asia Pacific is anticipated to hold the largest market share on account of rising ambition to improve air quality in nations such as China, Japan, Korea, India and others, by utilizing LNG as a source of energy along with the increasing demand for LNG in the region.
However, concerns for high cost of equipment as well as rising demand for alternative energy sources, such as nuclear and other renewable energy sources by nations worldwide are some of the factors estimated to act as a barrier to the growth of the global LNG infrastructure market.
This report also studies existing competitive scenario of some of the key players of the global LNG infrastructure market, which includes profiling of Occidental Petroleum Corporation (NYSE: OXY), Inpex Corporation (TYO: 1605), Gazprom (MCX: GAZP), Rosneft (MCX: ROSN), Novatek (MCX: NVTK), Cheniere Energy, Inc. (NYSEAMERICAN: LNG), Woodside Petroleum Ltd. (ASX: WPL), Petroliam Nasional Berhad (PETRONAS), National Iranian Oil Company and Chevron Corporation (NYSE: CVX). CLICK TO DOWNLOAD SAMPLE REPORT
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Liquefied Natural Gas (LNG) Infrastructure Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall LNG infrastructure industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global LNG infrastructure market in the near future.
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