Global Small-scale Liquefied Natural Gas (LNG) Terminals Market: Snapshot
Small-scale liquefied natural gas (LNG) terminals is a nascent industry that is proving both profitable and scalable. It serves to meet the ever-soaring demand for fuel by the trucking and shipping industries and is also a viable alternative to highly polluting fossil fuel that still powers most vehicles.
Get Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=1814
Despite large-scale LNG terminals constructed worldwide, the demand for small-scale liquefied natural gas (LNG) terminals is rising on account of the demand from remote places that also use LNG to generate power off-grid for residential and industrial needs. This has led to a growing thrust on miniaturizing LNG infrastructure. Technology has made it possible to design state-of-the-art small-scale LNG terminals and this is gradually serving to up competition in the market.
Relatively less entry-level challenges as compared to large LNG projects have opened up avenues for development of creative and new technologies and have increased the number of new entrants in the market over the years. Apart from that, regulatory pressures forcing heavy-duty vehicles to adopt greener fuels is also stoking market growth.
From a geographical standpoint, North America and Europe are key markets for small scale liquefied natural gas (LNG) terminals on account of the stringent regulations pertaining to environmental preservation in the region. Norway in Europe is said to have a very developed small scale liquefied natural gas infrastructure.
In order to become more viable operation-wise, incumbent players in the global market for small-scale liquefied natural gas (LNG) terminals are envisaging various business models. They are also expected to take the organic route of mergers and acquisitions in order to gain access to technological and other resources.
Request TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=1814
Global Small Scale LNG Terminals Market: Overview
The clean burning nature of natural is driving initiatives encouraging its increased usage across a number of industrial applications and across the transportation industry. The transportation industry, which largely relies on petrochemicals-based fuels with high emission levels to power engines, making it one of the most significant contributor to the rising levels of air pollution across the globe.
In a bid to lower down the levels of environment-degrading emissions and pollutants, government bodies are increasing their participation in initiatives aimed at the increased the usage of natural gas and are focusing on the development of LNG infrastructure at a rapid pace. These initiatives are expected to pace up the rate of deployment and development of LNG terminal infrastructures. Although large LNG terminals have been conventionally the more preferred type of LNG supply centers, the rising demand for LNG from remote-located consumers is rapidly making small-scale LNG terminals the norm for the supply of natural gas across small geographies.
Global Small Scale LNG Terminals Market: Trends and Opportunities
Over the past few years, the global commoditization of LNG has led to a significant rise in the number of new applications and market of LNG. Technological solutions enabling small scale LNG terminals have become mature and modularization, standardization, and the rate of competitiveness have increased.
Relatively lower entry-level challenges as compared to large LNG projects have opened up vast stores of opportunity for the rapid development of creative and new technologies and have increased the number of new entrants in the market over the years. The increased adoption of LNG as a fuel in the automotive industry, especially for powering heavy-duty vehicles, is also a key factor to have increased the adoption of small-scale LNG terminals across several regional markets.
Global Small Scale LNG Terminals Market: Regional Overview
From a regional perspective, the small scale LNG terminals market is highly attractive across environment-conscious regions such as North America and Europe. Strict regulations in the marine sector have increased the scope of usage of LNG as a bunker fuel in Europe, stimulating the development of strategically located small scale terminals. In the next few years also, North America and Europe will continue to contribute significantly to the global small-scale LNG terminals market in terms of new installations and capacity expansions.
Asia Pacific is also a highly promising market owing to its mammoth transportation industry. In China, several efforts in place to educate masses about the need to switch to clean fuels to lower down the levels of air pollution in cities, easy availability of natural gas, and substantial price difference between diesel and natural gas are driving the increased deployment of small scale LNG terminals.
Global Small Scale LNG Terminals Market: Market Potential
The field of LNG bunkering is increasingly becoming one of the key end-use segments of the global small scale LNG terminals market and companies operating in the field are registering large-scale expansion of operations and capacities at a rapid pace. In a recent development, the privately-owned company LNG Gorskaya has received funding worth $20.04 mn, which the company will use to develop its LNG bunkering plants in Estonia. With further funding, the company is planning to finance its LNG bunkering centers in Finland, Germany, Estonia, Latvia, and Sweden, establishing a series of small-scale terminals to be able to provide LNG to ships at around 320 km from its LNG bunkering stations.
Global Small Scale LNG Terminals Market: Competitive Landscape
The highly competitive vendor landscape of the global small scale LNG terminals market is expected to witness the introduction of several new business models in the next few years. The market is expected to witness a rise in mergers and acquisitions as companies focus on leveraging their project management competence and technological expertise to stay ahead of competition.
Some of the leading companies operating in the global small scale LNG terminals market are Nippon Gas Co., Ltd., EcoEléctrica Inc., Plum Energy, LLC, Linde AG, Santos Ltd, PT Donggi Senoro LNG, Prometheus Energy Company, Emirates Liquefied Natural Gas (LNG) LLC, Petroliam Nasional Berhad (PETRONAS), and Skangass AS.
Read Comprehensive Overview of Report @ https://www.tmrresearch.com/small-scale-lng-terminals-market
About TMR Research:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.