Large-scale LNG Terminals Market Volume to Reach 4,664.7 MMTPA by 2023 - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023: TMR

Mar 31, 2016, 10:30 ET from Transparency Market Research

ALBANY, New York, March 31, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report titled Large-scale LNG Terminals Market By Technology (Liquefaction and Regasification) and By Site (Onshore and Offshore) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2015 - 2023. According to this report, the global market volume for large-scale LNG terminals stood at 2,684.8 MMTPA in 2014 and is expected to reach 4,664.7 MMTPA by 2023 at a CAGR of 2.20% from 2015 to 2023.

Liquefied natural gas (LNG) is one of the most commercially-viable energy solutions adopted by developing economies in Asia Pacific to fulfill their energy requirements. The LNG industry has witnessed several technological changes in the past few years. Increasing investments in large-scale and small-scale LNG terminals is one such upcoming trend witnessed in the market in the recent years. Large-scale LNG terminals are primarily designed to focus on the requirements of large demand and supply centers. Natural gas can be transported from gas production centers to consumption centers in the form of liquefied natural gas (LNG) through ships and pipelines. Growing demand for LNG in the marine and transportation sectors has provided new opportunities for the large-scale LNG sector. Design of LNG terminals is different for both onshore and offshore oilfields, depending upon the surface and sub-surface conditions.

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The market for large-scale LNG terminals can be segmented geographically into five regions, namely North America, Asia Pacific, Europe, South America, and Middle East & Africa. Asia Pacific accounted for the largest market share, with 47.26% of total market in terms of throughput, in 2014. Asia Pacific is likely to remain the largest market for large-scale LNG terminals throughout forecast period, primarily due to an increasing demand for LNG in the region. North America ranked second in terms of market share, accounting for 19.39% of the global market for large-scale LNG terminals in 2014. Rapidly increasing shale gas production in the U.S. is the primary driver of the market growth of large-scale LNG liquefaction terminals in North America. Middle East & Africa ranked third in the global large-scale LNG terminals market in 2014. Increasing consumption of LNG and decreasing production of oil and gas are the major factors which would make Asia Pacific one of the most attractive markets for large-scale LNG terminals in the near future.

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In the future, construction of LNG terminals is expected to increase gradually as a result of growth in consumption of LNG, especially in Asia Pacific and North America. The global market for large-scale LNG terminals has been segmented as follows:

Large-scale LNG Terminals Market: By Technology 

Liquefaction 

  • Onshore
  • Offshore

Regasification

  • Onshore
  • Offshore

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Large-scale LNG Terminals Market: By Region 

North America 

  • U.S.
  • Rest of North America

Asia Pacific 

  • Indonesia
  • Rest of Asia Pacific

Europe 

  • Russia
  • Spain
  • Rest of Europe

South America 

  • Peru
  • Rest of South America

Middle East & Africa 

  • Qatar
  • Nigeria
  • Rest of Middle East & Africa

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