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Global Liquefied Natural Gas (LNG) Market Size, Share, Trends, Forecast: By End Use: Power, Transportation, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Liquefied Natural Gas (LNG) Market Outlook
The global liquefied natural gas (LNG) market size reached approximately 4.4 billion barrels in 2022. The market is projected to grow at a CAGR of 2.70% between 2023 and 2028, reaching a volume of around 5.20 billion barrels by 2028.
Key Trends in the Market
Natural gas primarily consists of methane and is commonly found in underground reservoirs alongside oil deposits or in standalone natural gas fields. Liquefied natural gas (LNG) is formed after natural gas is greatly cooled down to about -162°C. LNG is clear and colourless in form, and it is a non-toxic liquid.
- One of the primary factors aiding the global liquefied natural gas (LNG) market growth is the increasing demand for liquefied natural gas in different applications. LNG is a versatile energy source, capable of providing power for heating, running electrical grids, and even fuel ships. The gas is already being employed in Europe and North America for heating and electricity.
- With the growing awareness about the increasing carbon emissions and global warming, the world is shifting towards a more environment-friendly and low-carbon economy. The global liquefied natural gas (LNG) market demand is expected to surge during the forecast period owing to its cost-effectiveness and low carbon dioxide emissions. Market players are also gravitating towards natural gases and are increasingly utilising them due to such benefits.
- Owing to the increasing awareness of the benefits of LNG, organisations around the world are launching major projects to establish efficient LNG plants and increase production speed. One of the major liquefied natural gas (LNG) market trends is the implementation of government policies promoting the use of the LNG.
Market Analysis
Based on end use, the market is segmented into power and transportation, among others. The global liquefied natural gas (LNG) market segmentation, based on regional production and demand, includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global liquefied natural gas (LNG) market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Shell International B.V.
- Chevron Corporation
- Exxon Mobil Corporation
- Cheniere Energy, Inc.
- Energy Transfer LP
- Freeport LNG Development, L.P.
- ConocoPhillips Company
- Venture Global LNG, Inc.
- Sempra Energy
- Petróleo Brasileiro S.A.
- Others
Market Share by End-Use
According to the global liquefied natural gas (LNG) market analysis, one of the most prominent uses of LNG is for power generation. This can be attributed to the increasing inclination towards cleaner energy options for producing electricity. LNG stands out as a cleaner fuel compared to coal and oil, releasing fewer greenhouse gases, sulphur dioxide, and particulate matter when used for power generation. Moreover, it is known to be more efficient in turning fuel into electricity when compared to older coal-fired power plants.
Market Share by Type
The Asia Pacific, based on demand and production, is expected to account for a major portion of the global liquefied natural gas (LNG) market share. Among the countries, Japan is likely to experience high demand, and it is expected to experience substantial growth in the forecast period. Meanwhile, China is also anticipated to witness significant development due to robust economic progress, which is driving greater usage of gas-based power facilities in the region.
Competitive Landscape
Shell International B.V. is one of the leading energy companies in the world with an operating history dating back to 1907. It was formed after the merging of the Royal Dutch Petroleum Company and the "Shell" Transport and Trading Company. It is an England-based investment holding company that focuses on the exploration, extraction, processing, and production of gas and oil.
Chevron Corporation is an American company operating in the oil and gas sector. The company has been operating in the field since 1879, which started with the foundation of Pacific Coast Oil Co. Over the years, the company has developed expertise in a variety of fields, such as production of different types of gases, refining, energy technologies, pipelines, and renewable energies, among others.
Exxon Mobil Corporation is a global oil gas company established in the year 1999 through the merger between Exxon Corporation and Mobil Corporation. As one of the world’s largest oil and gas companies, the company works with and distributes a wide variety of resources, such as natural gas, nuclear fuels, petroleum, chemicals, coal, and mineral ores.
Other liquefied natural gas (LNG) market players include Cheniere Energy, Inc., Energy Transfer LP, Freeport LNG Development, L.P., ConocoPhillips Company, Venture Global LNG, Inc., Sempra Energy, and Petróleo Brasileiro S.A., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Liquefied Natural Gas (LNG) Market Analysis
8.1 Key Industry Highlights
8.2 Global Liquefied Natural Gas (LNG) Historical Market (2018-2022)
8.3 Global Liquefied Natural Gas (LNG) Market Forecast (2023-2028)
8.4 Global Liquefied Natural Gas (LNG) Market by End Use
8.4.1 Power
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Transportation
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Liquefied Natural Gas (LNG) Production by Region
8.5.1 North America
8.5.1.1 Historical Production (2018-2022)
8.5.1.2 Production Forecast (2023-2028)
8.5.1.3 Leading Producing Countries
8.5.2 Europe
8.5.2.1 Historical Production (2018-2022)
8.5.2.2 Production Forecast (2023-2028)
8.5.2.3 Leading Producing Countries
8.5.3 Asia Pacific
8.5.3.1 Historical Production (2018-2022)
8.5.3.2 Production Forecast (2023-2028)
8.5.3.3 Leading Producing Countries
8.5.4 Latin America
8.5.4.1 Historical Production (2018-2022)
8.5.4.2 Production Forecast (2023-2028)
8.5.4.3 Leading Producing Countries
8.5.5 Middle East and Africa
8.5.5.1 Historical Production (2018-2022)
8.5.5.2 Production Forecast (2023-2028)
8.5.5.3 Leading Producing Countries
8.6 Global Liquefied Natural Gas (LNG) Demand by Region
8.6.1 North America
8.6.1.1 Historical Demand (2018-2022)
8.6.1.2 Forecast Demand (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Demand (2018-2022)
8.6.2.2 Forecast Demand (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Demand (2018-2022)
8.6.3.2 Forecast Demand (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Demand (2018-2022)
8.6.4.2 Forecast Demand (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Demand (2018-2022)
8.6.5.2 Forecast Demand (2023-2028)
9 North America Liquefied Natural Gas (LNG) Demand Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Liquefied Natural Gas (LNG) Demand Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Norway
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Others
11 Asia Pacific Liquefied Natural Gas (LNG) Demand Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Liquefied Natural Gas (LNG) Demand Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Liquefied Natural Gas (LNG) Demand Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis
15.1 Major Exporting Countries
15.1.1 by Value
15.1.2 by Volume
15.2 Major Exporting Countries
15.2.1 by Value
15.2.2 by Volume
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Shell International B.V.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Chevron Corporation
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Exxon Mobil Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Cheniere Energy, Inc.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Energy Transfer LP
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Freeport LNG Development, L.P.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 ConocoPhillips Company
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Venture Global LNG, Inc.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Sempra Energy
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Petróleo Brasileiro S.A.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Liquefied Natural Gas (LNG) Market: Key Industry Highlights, 2018 and 2028
2. Global Liquefied Natural Gas (LNG) Historical Market: Breakup by End Use (Billion Barrel), 2018-2022
3. Global Liquefied Natural Gas (LNG) Market Forecast: Breakup by End Use (Billion Barrel), 2023-2028
4. Global Liquefied Natural Gas (LNG) Historical Production: Breakup by Region (Billion Barrel), 2018-2022
5. Global Liquefied Natural Gas (LNG) Production Forecast: Breakup by Region (Billion Barrel), 2023-2028
6. Global Liquefied Natural Gas (LNG) Historical Demand: Breakup by Region (Billion Barrel), 2018-2022
7. Global Liquefied Natural Gas (LNG) Demand Forecast: Breakup by Region (Billion Barrel), 2023-2028
8. North America Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2022
9. North America Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2023-2028
10. Europe Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2022
11. Europe Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2023-2028
12. Asia Pacific Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2022
13. Asia Pacific Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2023-2028
14. Latin America Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2022
15. Latin America Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2023-2028
16. Middle East and Africa Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2022
17. Middle East and Africa Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2023-2028
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Global Liquefied Natural Gas (LNG) Market Structure
Key Questions Answered in the Report
In 2022, the market reached an approximate volume of 4.4 billion barrels.
The market is projected to grow at a CAGR of 2.70% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach a volume of around 5.20 billion barrels by 2028.
The market is being driven by the increasing utilisation of LNG to power different technologies and the growing awareness about the benefits of natural gas over coal or oil.
The market is guided by the commencement of projects to increase the production of LNG amid the rising support from governments and the surging usage of gas-based power facilities.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major end-uses of the product are power and transportation, among others.
The key players in the market include Shell International B.V., Chevron Corporation, Exxon Mobil Corporation, Cheniere Energy, Inc., Energy Transfer LP, Freeport LNG Development, L.P., ConocoPhillips Company, Venture Global LNG, Inc., Sempra Energy, and Petróleo Brasileiro S.A., among others.
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