Global Liquefied Natural Gas (LNG) Infrastructure Market Size Forecast 2024 - 2033
23 Dec, 2024
How Is The Global Liquefied Natural Gas (LNG) Infrastructure Market Defined?
Liquefied natural gas (LNG) infrastructure refers to the facilities and systems involved in the production, storage, transportation, and regasification of LNG. This infrastructure is used for several purposes, primarily revolving around the transportation, storage, and distribution of natural gas in its liquefied form.
Liquefied Natural Gas (LNG) Infrastructure Global Market Report 2024 provides data on the global liquefied natural gas (lng) infrastructure market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The liquefied natural gas (lng) infrastructure market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Liquefied Natural Gas (LNG) Infrastructure Market Size And Annual Growth Rates?
The liquefied natural gas (LNG) infrastructure market has grown significantly in recent years, with its size increasing from $56.57 billion in 2023 to $64.85 billion in 2024 at a CAGR of 14.6%. This growth during the historical period was supported by rising natural gas demand, expanded global trade, technological advancements, regulatory support, and geopolitical factors. The market is expected to maintain its momentum, growing to $112.06 billion by 2028 at a CAGR of 14.7%. This projected growth is attributed to increased LNG bunkering for maritime transportation, expansion of small-scale LNG applications, rising demand for LNG as a fuel for heavy-duty vehicles, development of floating LNG facilities, and growth in LNG-powered electricity plants. Key trends include renewable energy integration at LNG facilities, adoption of digital technologies for efficiency and safety, emergence of new import/export markets, investments in liquefaction capacity, and advancements in liquefaction and regasification technologies.
Which Key Drivers Are Propelling The Liquefied Natural Gas (LNG) Infrastructure Market's Growth?
The liquefied natural gas (LNG) infrastructure market is expected to grow due to the rising demand for electricity generation. Electricity generation involves converting different energy forms into electrical energy, and the demand for it is driven by the growing use of electronic devices and appliances, as well as the shift toward electric heating and air conditioning. LNG infrastructure offers flexibility in pricing and trading, making natural gas more appealing than other energy sources. For instance, the International Energy Agency reported in July 2021 that electricity generation grew by 2.5% in 2022, reaching an all-time high. This rising demand for electricity generation is stimulating the LNG infrastructure market.
Get Your Free Sample of the Global Liquefied Natural Gas (LNG) Infrastructure Market ReportWhat Are The Key Segments Within The Global Liquefied Natural Gas (LNG) Infrastructure Market?
The liquefied natural gas (LNG) infrastructure market covered in this report is segmented –
1) By Type: Production Infrastructure, Transportation Infrastructure, Regasification Infrastructure, Distribution Infrastructure, Storage Facilities, Other Types
2) By Production: Liquefaction Plants, Natural Gas Processing Facilities, LNG Storage Tanks, Others
3) By Distribution: Pipeline Networks, Virtual Pipeline Solutions
4) By End User Industry: Heavy-Duty Vehicles, Electric Power Generation, Marine Transport
How Are New Trends Impacting The Size Of The Liquefied Natural Gas (LNG) Infrastructure Market?
Companies in the liquefied natural gas infrastructure sector are investing in new LNG projects like the Port Arthur LNG initiative to support the natural gas industry’s growth. The Port Arthur LNG project is a significant infrastructure development that aims to expand LNG operations, create jobs, and contribute to energy security. For instance, in March 2023, Sempra, a US energy infrastructure firm, launched the Port Arthur LNG project, a state-of-the-art liquefaction facility that will supply clean and affordable US natural gas globally. The project is set to produce up to 13.5 million tonnes per year of LNG and includes design improvements such as electric drives and renewable energy sourcing to reduce emissions.
Which Region Drives The Highest Growth In The Liquefied Natural Gas (LNG) Infrastructure Market?
Asia-Pacific was the largest region in the liquefied natural gas (LNG) infrastucture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liquefied natural gas (LNG) infrastucture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.