Market Size of Singapore LNG Storage Tank Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 163.37 Million |
| Market Size (2029) | USD 221.12 Million |
| CAGR (2024 - 2029) | 6.24 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Singapore LNG Storage Tank Market Analysis
The Singapore LNG Storage Tank Market size is estimated at USD 163.37 million in 2024, and is expected to reach USD 221.12 million by 2029, growing at a CAGR of 6.24% during the forecast period (2024-2029).
- Over the medium term, rising demand for LNG and increased consumption of LNG as fuel in Singapore are expected to drive the market during the forecast period.
- On the other hand, the rising adoption of renewable energy and fluctuating natural gas prices are expected to restrain the market during the forecast period.
- Nevertheless, with the advancement in technology to develop floating LNG terminals, it remains a significant growth opportunity for the market during the forecast period.
