Jul 26, 2019 (Data Bridge Market Research via COMTEX) -- Small scale LNG market research report is created with the best and propelled techniques such as gathering, recording, assessing and analyzing market information. With the deliberate and extensive market analysis, this market research report furnishes the facts related to any subject in the field of the small scale LNG industry. It gives better thoughts and solutions regarding the market trend, promoting trends, future items, new topographical markets, future occasions, client activities or practices. This small scale LNG market report has been set up by considering a few sections of the present and up-coming scenarios in the market. The small scale LNG report serves the customers to handle the key market perspectives including product improvement, commodity specification, new opportunities, product modeling, and new topographical markets.
This report evaluates the current condition of the market, showcases the market size and its share, income generated from the item deal, and essential product changes required later on. This small scale LNG market research report helps the organizations to settle on improved choices, manage the advertising of products or benefits, and accomplish better productivity by organizing market objectives. Analysis of significant difficulties confronted by the industry at present and the conceivable future difficulties that the industry may need to confront while working in this market are likewise considered in the small scale LNG market report.
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The small scale LNG market Global Small-Scale LNG Market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026. Increasing demand for the LNG is the major factor for the growth of this market.
The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker, ships and trucks. These small LNG has production capacity of 500000 TPY and are usually used where there is requirement of LNG by the consumers. Increasing demand of LNG in marine and heavy transport is the major factor for the growth of this market.
Few of the major competitors currently working in small- scale LNG market are Linde plc, Wärtsilä, Honeywell International Inc, GENERAL ELECTRIC, ENGIE, Gazprom, Sofregaz Company, Dresser-Rand, , Excelerate Energy. L. P., Cryostar, Equinor ASA, PT Pertamina(Persero), Eni, Total, Gasum Oy, Kunlun Energy Company Limited, Royal Dutch Shell, BP p.l.c.
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Type (Liquefaction Terminal, Regasification Terminal),
Application (Heavy-Duty Vehicles, Marine Transport, Industrial & Power, Utilities, Residential),
Modes of Supply (Trucks, Trans- Shipment and Bunkering, Captive Consumption through Pipeline & Rail),
Infrastructure (Truck Fuelling Stations, Bunkering Vessels, Bunker Barge, Bunkering Terminals, Storage Hubs, LNG Storage, Regas Facilities, Truck-To-Ship Bunkering, LNG Trailers),
Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
In December 2018, Novatek announced the launch of their new small- scale LNG plant at Baltic Sea which has a capacity of 660,000 tonnes of the frozen gas per year and will expand it to 800,000 tonnes by 2021. It is the first cargo of liquefied natural gas as per the contractor Atomtekhenergo.
In November 2018, Edison announced the launch of their first Italy first integrated logistics chain of small scale LNG along with PIR (Petrolifera Italiana Rumena). It will have storage capacity of 20,000 cubic meters of LNG and will come into operation in 2021.
Increasing demand of LNG in marine is driving the market
Low cost of LNG as compared to other energy sources is driving the market
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