Favorable government initiatives to set up small scale LNG plants to drive global small scale LNG liquefaction plant market growth through 2024

According to a report published by TechSci Research on “Global Small Scale LNG Liquefaction Plant Market By Fuel Type, By Power Rating, By End-User, By Application, By Region, By Company, Competition, Forecast & Opportunities, 2024”, global small scale LNG liquefaction plant market is projected to witness growth at a CAGR of over 12% during forecast period on the back of growing demand for LNG across the globe. The use of small scale LNG as the fuel is becoming increasingly popular for off-grid areas owing to its low prices, environment-friendly nature, and its ability to replace coal to generate electricity.

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On the basis of capacity, small scale LNG liquefaction plant market is categorized into four categories, namely, up to 0.16 MTPA; 0.17–0.33 MTPA; 0.34–0.65 MTPA; 0.66–1 MTPA. Among these capacity types, up to 0.16 MTPA category is predicted to witness a steady growth owing to low requirement of the initial investment to set up the plant. Moreover, prompt response to the market from the up to 0.16 MTPA category is further bolstering its growth in the global market. Many private companies are also investing in the set up of up to 0.16 MTPA capacity plants, contributing to the growth of this segment.

In terms of region, small scale LNG liquefaction plant market is categorized into North America, Middle East & Africa, South America, Europe and Asia-Pacific. North America small scale LNG liquefaction plant market is anticipated to witness a significant growth during forecast period on account of increasing greenfield expansion in the region. Moreover, growing trade movement in the region is further expected to positively influence North America small scale LNG liquefaction plant market in the coming years.

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“Global small scale LNG liquefaction plant market is predicted to grow at a decent rate over the course of next five years. Growth in the market is led by favorable government policies & regulations to set up small scale LNG liquefaction plants. Moreover, easy availability, exploration & production of shale gas and growing need for environment-friendly fuel are further aiding global market of small scale LNG, which, in turn, is fueling the growth of small scale LNG liquefaction plant market, globally.” said, Mr. Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.

“Global Small Scale LNG Liquefaction Plant Market By Fuel Type, By Power Rating, By End-User, By Application, By Region, By Company, Competition, Forecast & Opportunities, 2024,” has evaluated the future growth potential of the global Small Scale LNG Liquefaction Plant market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global Small Scale LNG Liquefaction Plant market.

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