Market Size of Small-scale LNG Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 10.70 Billion |
| Market Size (2029) | USD 17.53 Billion |
| CAGR (2024 - 2029) | 10.38 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Small Scale LNG Market Analysis
The Small-scale LNG Market size is estimated at USD 10.70 billion in 2024, and is expected to reach USD 17.53 billion by 2029, growing at a CAGR of 10.38% during the forecast period (2024-2029).
- Over the long term, the factors such as increasing demand for LNG in bunkering, road transportation, and off-grid power, are expected to drive the small-scale LNG market in the coming years.
- On the other hand, factors such as the high operation cost of small-scale LNG and lack of supporting infrastructure in the regions such as the Middle East and Africa, and high CAPEX requirements, along with a long payback period of more than 12 years, are expected to hinder the growth of the market studied.
- Nevertheless, owing to the high capital expenditure required for a small-scale LNG infrastructure, the development of cost-efficient small-scale LNG infrastructure is expected to provide significant opportunities to the small-scale LNG technology providers and transporters in the future.
- The Asia-Pacific region 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, the net-zero carbon emission targets, the government's initiative to develop the LNG-related infrastructure and rise in investment from private companies coming from countries such as Japan, China, and South Korea.
