Market Size of LNG Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.75 % |
| Fastest Growing Market | South America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Liquefied Natural Gas (LNG) Market Analysis
The LNG Market size is expected to grow from USD 74.60 billion in 2023 to USD 103.41 billion by 2028, at a CAGR of 6.75% during the forecast period (2023-2028).
In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as increasing demand for gas power generation and a rising number of LNG-fueled fleets are expected to drive the global LNG market during the forecast period.
- On the other hand, LNG oversupply and trade tension are expected to hamper market growth during the forecast period.
- Nevertheless, a high number of LNG projects and development plans are expected to be proposed in the upcoming years, underpinned by the growing LNG demand, leading to the creation of several opportunities for market players in the African region, thus creating an emerging LNG market.
