Market Size of Global LNG Regasification Terminals Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| 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?
LNG Regasification Terminals Market Analysis
The Global LNG Regasification Terminals Market is expected to grow at a CAGR of 5.6% during the forecast period of 2022-2027. The outbreak of the COVID-19 pandemic had a negative impact on the LNG regasification terminals market since the production and supply of natural gas have been stagnant due to lockdowns across the globe. Factors such as increasing demand for natural gas in the chemical, industrial, and transportation sectors are expected to drive the market. However, fluctuating natural gas prices increase the risk associated with large-scale LNG terminal construction and are expected to hinder the market's growth.
- The floating regasification terminals market segment is expected to be the fastest-growing market as new facilities are being constructed around the globe, especially in developing economies like China, India, and Malaysia.
- As per the Energy Information Administration (EIA), non-OECD Asian countries like China, India, Bangladesh, Thailand, and Vietnam are expected to consume 120 billion cubic feet per day (bcf/d) of natural gas by 2050, outpacing regional natural gas production by 50 bcf/d. The supply imbalance in the region would result in increasing dependency on the other regions, which is expected to create an opportunity for the LNG terminal companies.
- The Asia-Pacific is expected to dominate the market with the presence regasification terminals. Countires like Japan, South Korea, China, and India have the highest capacity infrastructure for regasification of LNG.
