Large Scale LNG Terminals Market Size is Set to Grow at a Remarkable Pace in the Coming Years
Portland, OR -- (SBWIRE) -- 07/11/2017 -- Liquefied natural gas terminal is a structure designed to store liquefied natural gas. It comprises of special tanks, ships, building structures, port infrastructures, and pipelines. Liquefied natural gas is the form used to transport natural gas by sea over long distances. LNG terminals are ports purposely built to avail the export and import of LNG. Moreover, the rise in need for the development of small- and large-scale terminals for LNG enhances the market growth. Due to environmental benefits, LNG proves as an excellent alternative as a cleaner and economic fuel across industrial, commercial, and automobile sectors.
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The global market is expected to register major growth owing to the increase in demand for LNG across the world. The rise in need for the development of small and large scale terminals for LNG enhances the market growth worldwide. In addition, long-haul vehicle fleet owners have started following a trend of preferring LNG as a more economical alternative fuel, thus making way for growth opportunities in the market. However, apart from robust growth, low infrastructural development, especially across emerging nations and the absence of adequate demand from end users restrain the global large-scale LNG terminal market.
The global large scale LNG terminals market is segmented based on technology, end user, and geography. On the basis of technology, it is bifurcated into liquefaction and regasification. Liquefaction is further classified into onshore and offshore. Regasification is sub-categorized into onshore and offshore. By end-user, the market is divided into residential, commercial, and industrial. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector involve Exxon-Mobil Corporation, Royal Dutch Shell Plc, Santos Limited, Chevron Corporation, Statoil ASA, Linde AG, PETRONAS, Cameron LNG, Gazprom, and BP.
Large Scale LNG Terminals Market Key Segments:
By End User
-Rest of Europe
-Rest of Asia-Pacific
-Rest of LAMEA
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