Market Size of China LNG Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| 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?
China LNG Market Analysis
The China LNG market is projected to register a CAGR of over 7.0% in the current year.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached the pre-pandemic level.
- China is the sixth largest gas producer and the second largest importer of natural gas due to the high demand for natural gas for power and industries, which will directly aid the LNG market. In addition, natural gas for power generation is increasing as the country aims to reduce coal power plants to reduce carbon emissions. It is also expected to drive the growth of the market studied.
- However, the rapid growth of renewable energy would be a major restraint to the market.
- A high number of LNG projects/development plans are expected to be proposed in upcoming years, underpinned by the growing LNG demand, leading to the creation of several opportunities for the market players in China.
