Market Size of Global LNG Regasification Terminals Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
LNG Regasification Terminals Market Analysis
The Global LNG Regasification Terminals Market is expected to grow at a CAGR of 5.6% during the forecast period of 2022-2027. The outbreak of the COVID-19 pandemic had a negative impact on the LNG regasification terminals market since the production and supply of natural gas have been stagnant due to lockdowns across the globe. Factors such as increasing demand for natural gas in the chemical, industrial, and transportation sectors are expected to drive the market. However, fluctuating natural gas prices increase the risk associated with large-scale LNG terminal construction and are expected to hinder the market's growth.
- The floating regasification terminals market segment is expected to be the fastest-growing market as new facilities are being constructed around the globe, especially in developing economies like China, India, and Malaysia.
- As per the Energy Information Administration (EIA), non-OECD Asian countries like China, India, Bangladesh, Thailand, and Vietnam are expected to consume 120 billion cubic feet per day (bcf/d) of natural gas by 2050, outpacing regional natural gas production by 50 bcf/d. The supply imbalance in the region would result in increasing dependency on the other regions, which is expected to create an opportunity for the LNG terminal companies.
- The Asia-Pacific is expected to dominate the market with the presence regasification terminals. Countires like Japan, South Korea, China, and India have the highest capacity infrastructure for regasification of LNG.
LNG Regasification Terminals Industry Segmentation
The scope of Global LNG Regasification terminals Market report includes:
| Terminal Type | |
| large Scale | |
| Small Scale & Medium |
| By Deployment | |
| Onshore | |
| Floating |
| Geography | |
| North America | |
| South America | |
| Asia-Pacific | |
| Europe | |
| Middle-East and Africa |
Global LNG Regasification Terminals Market Size Summary
The LNG regasification terminals market is poised for significant growth, driven by increasing demand for natural gas across various sectors such as chemicals, industry, and transportation. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted production and supply chains, the market is expected to recover and expand. The floating regasification terminals segment is anticipated to be the fastest-growing, particularly in developing regions like Asia-Pacific, where countries such as China, India, and Malaysia are investing in new facilities. This growth is supported by the rising consumption of natural gas in non-OECD Asian countries, which is expected to outpace local production, creating opportunities for LNG terminal companies to meet the supply-demand imbalance.
The Asia-Pacific region is expected to maintain its dominance in the LNG regasification terminals market, with countries like Japan, South Korea, China, and India leading in infrastructure capacity. The region's strategic investments in both large-scale and small-scale terminals, along with the development of floating storage regasification units, are key factors contributing to its market leadership. While floating facilities offer cost advantages and serve as a bridge for developing economies to access clean energy, onshore facilities are projected to be more profitable in the long run due to lower maintenance costs. The market remains moderately fragmented, with major players like Linde plc, Wartsila Oyj ABP, Shell PLC, Engie SA, and Baker Hughes Company actively participating in the sector's expansion.
Global LNG Regasification Terminals Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Recent Trends and Developments
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Terminal Type
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2.1.1 large Scale
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2.1.2 Small Scale & Medium
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2.2 By Deployment
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2.2.1 Onshore
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2.2.2 Floating
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2.3 Geography
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2.3.1 North America
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2.3.2 South America
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2.3.3 Asia-Pacific
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2.3.4 Europe
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2.3.5 Middle-East and Africa
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Global LNG Regasification Terminals Market Size FAQs
What is the current Global LNG Regasification Terminals Market size?
The Global LNG Regasification Terminals Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Global LNG Regasification Terminals Market?
Linde plc , Wartsila Oyj ABP, Shell plc, Engie SA and Baker Hughes Company are the major companies operating in the Global LNG Regasification Terminals Market.
