Market Size of Asia-Pacific Small-scale LNG Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Small-scale LNG Market Analysis
The Asia-Pacific small-scale LNG market is expected to register a CAGR of over 8% during the forecast period.
The market was negatively impacted by the COVID-19 pandemic in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as increasing demand for LNG in bunkering, road transportation, and off-grid power are expected to drive the Asia-Pacific small-scale LNG market during the forecast period.
- On the other hand, factors such as the high operation cost of small-scale LNG, high CAPEX requirements, and a long payback period of more than 12 years are expected to hinder the market's growth.
- Nevertheless, developing cost-efficient small-scale LNG infrastructure is expected to provide significant opportunities for small-scale LNG technology providers and transporters.
- China dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increased demand for LNG and government initiatives to develop LNG-related infrastructure.
