Market Size of Southeast Asia LNG Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > 8.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia LNG Market Analysis
The Southeast LNG market is projected to register a CAGR of over 8% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Increasing demand for gas power generation and a rising number of LNG-fueled fleets are expected to drive the Southeast Asian LNG market during the forecast period.
- However, LNG oversupply and trade tension is expected to hamper the market growth during the forecast period.
- A high number of LNG regasification 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, thus, making an emerging LNG market.
- Singapore is expected to be the largest market during the forecast period owing to the increasing natural gas consumption in the region.