Planned LNG Market Report 2024 (Global Edition)

Global Planned LNG Market Report 2024 Market Size Split by Technology (Liquefaction, Regasification), by End-Use Industry (Residential, Commercial, Industrial)

Planned LNG Market Report Description

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Planned LNG Market Insights Video

Competitive Landscape of the Planned LNG Market

The competitive landscape of the planned LNG market is dominated by key global players such as Qatargas, ExxonMobil, Shell, Chevron, and TotalEnergies. These companies lead in LNG liquefaction, trading, and project development across diverse regions. Strategic partnerships, long-term supply contracts, and investments in advanced LNG infrastructure are crucial in maintaining market leadership. Technological innovation, cost efficiency, and adherence to environmental standards are key factors influencing competitiveness in this dynamic and evolving market.

April 2022: Petronet LNG disclosed plans to construct a floating LNG terminal in Odisha by 2025, estimated at USD 195 million. Additionally, Petronet intends to invest USD 73 million to increase the capacity of the Dahej LNG import terminal to 22.5 million metric tons annually from its current capacity of 17.5 million metric tons. (Source: https://petronetlng.in/Dahej_LNG_Terminal.php) February 2023: Construction has commenced on the Jiangsu Huadian Ganyu LNG terminal at Ganyu port in Lianyungang, located in China's eastern Jiangsu province. This project is part of both the national natural gas development plan and the province's 14th Five-Year Plan, designed to have an LNG receiving capacity of 3 million metric tons per year. It is one of four LNG-receiving projects approved by the federal government for 2022, collectively totaling nearly 24 million metric tons per year in capacity. (Source: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/lng/021423-chinas-jiangsu-huadian-ganyu-lng-terminal-begins-construction)

Top Companies Market Share in Planned LNG Industry: (In no particular order of Rank)

• Qatargas (Qatar)
• ExxonMobil (United States)
• Shell (Netherlands/United Kingdom)
• Chevron (United States)
• TotalEnergies (France)
• BP (United Kingdom)
• Petronas (Malaysia)
• Woodside Petroleum (Australia)
• Novatek (Russia)
• Cheniere Energy (United States)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Planned LNG Market

Which Region Dominates the Planned LNG Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue because of the area's abundant natural gas reserves, particularly from shale formations, which have enabled significant LNG export capacity expansions. The region benefits from advanced technology and infrastructure, supporting efficient liquefaction and export capabilities. Additionally, favorable regulatory frameworks and stable political environments in countries like the United States have attracted substantial investments in LNG projects, further solidifying North America's dominant position in the global LNG market.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Planned LNG market due to several compelling reasons. Rising industrialization and urbanization drive increasing energy demand, with LNG serving as a cleaner alternative to coal and oil. Governments are prioritizing cleaner energy sources to meet environmental goals, further boosting LNG adoption. Additionally, strategic investments in LNG infrastructure and terminals enhance import capabilities, supporting the region's energy security and meeting growing demand from populous countries like China, India, and Japan.

The current report Scope analyzes Planned LNG Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Planned LNG

According to Cognitive Market Research, the global Planned LNG market size was estimated at USD 105,412.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 42,164.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Planned LNG market with a market size of USD 33,628.09 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. The demand is amplified by the nation's abundant natural gas reserves.
• The Canada Planned LNG market had a market share of USD 5,059.79 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Canada's favorable regulatory environments to increased usage of Planned LNG.
• The Mexico Planned LNG market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 3,837.00 million in 2024.

Europe Planned LNG

According to Cognitive Market Research, the global Planned LNG market size was estimated at USD 105,412.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 31,623.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.

• The United Kingdom Planned LNG market had a market share of USD 5,312.77 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. In the UK, focus on reducing carbon emissions promotes LNG as a cleaner alternative is driving the demand.
• The France Planned LNG market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 2,909.38 million in 2024.
• According to Cognitive Market Research, the Germany Planned LNG market size was valued at USD 6,261.48 million in 2024 and is projected to grow at a CAGR of 8.7% during the forecast period. In Germany, growing demand in LNG infrastructure.
• The Italy Planned LNG market is projected to witness growth at a CAGR of 7.9% during the forecast period, with a market size of USD 2,719.63 million in 2024.
• The Russia Planned LNG market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 4,901.67 million in 2024.
• The Spain Planned LNG market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 2,593.14 million in 2024
• The Luxembourg Planned LNG market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 980.33 million in 2024.
• The Portugal Planned LNG market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 664.10 million in 2024.
• The Greece Planned LNG market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 379.48 million in 2024.
• Rest of Europe's Planned LNG market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 4,901.67 million in 2024.

Asia Pacific Planned LNG

According to Cognitive Market Research, the global Planned LNG market size was estimated at USD 105,412.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 24,244.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Planned LNG market size was valued at USD 10,910.16 million in 2024 and is projected to grow at a CAGR of 11.5% during the forecast period. Rapid industrialization and urbanization is driving the sales in China.
• The Japan Planned LNG market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 3,345.78 million in 2024.
• The India Planned LNG market had a market share of USD 2,909.38 million in 2024 and is projected to grow at a CAGR of 13.8% during the forecast period. Significant investments in LNG infrastructure is driving the demand in India.
• The South Korea Planned LNG market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 2,424.48 million in 2024.
• The Australia Planned LNG market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 1,260.73 million in 2024.
• The South East Asia Planned LNG market is projected to witness growth at a CAGR of 13.0% during the forecast period, with a market size of USD 1,672.89 million in 2024.
• The Rest of Asia Pacific Planned LNG market is projected to witness growth at a CAGR of 11.8% during the forecast period, with a market size of USD 1,721.38 million in 2024.

South America Planned LNG

According to Cognitive Market Research, the global Planned LNG market size was estimated at USD 105,412.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 5,270.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Planned LNG market size was valued at USD 2,255.82 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Increasing demand for cleaner energy sources to support economic growth and reduce carbon emissions is driving the market in Brazil.
• Argentina Planned LNG market had a market share of USD 885.46 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period. Argentina's growing Investments in LNG infrastructure.
• Colombia Planned LNG market is projected to witness growth at a CAGR of 9.2% during the forecast period with a market size of USD 469.08 million in 2024.
• Peru Planned LNG market is projected to witness growth at a CAGR of 9.6% during the forecast period with a market size of USD 432.19 million in 2024.
• Chile Planned LNG market is projected to witness growth at a CAGR of 9.7% during the forecast period with a market size of USD 379.48 million in 2024.
• The Rest of Latin America Planned LNG market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 848.57 million in 2024.

Middle East and Africa Planned LNG

According to Cognitive Market Research, the global Planned LNG market size was estimated at USD 105,412.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2,108.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.

• The GCC Countries Planned LNG market is projected to witness growth at a CAGR of 10.5% during the forecast period with a market size of USD 902.3 million in 2024. Governments are focusing on diversifying energy exports and reducing flaring practices are driving the demand.
• The Egypt Planned LNG market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 221.37 million in 2024.
• The South Africa Planned LNG market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 333.10 million in 2024. Region's abundant natural gas reserves have enhanced productivity and competitiveness.
• The Turkey Planned LNG market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 181.31 million in 2024.
• The Nigeria Planned LNG market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 221.37 million in 2024.
• The Rest of MEA Planned LNG market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 248.77 million in 2024.

Planned LNG Market Analysis

Planned LNG Market Technology Segment Analysis

According to Cognitive Market Research, Liquefaction technology as the dominating category. Liquefaction technology holds the largest market share in the planned LNG market due to its pivotal role in the liquefaction process, converting natural gas into LNG for transport and storage. This technology enables the efficient cooling of natural gas to its liquid state, making it economically viable for export and transportation over long distances. Advanced liquefaction technologies, such as modular and floating LNG solutions, offer flexibility and scalability, meeting diverse market needs and driving the expansion of LNG production capacity globally..

Regasification technology is experiencing the highest compound annual growth rate (CAGR) in the planned LNG market primarily due to increasing global demand for imported LNG. As countries seek to diversify their energy sources and reduce dependence on domestic supplies, regasification terminals play a crucial role in converting LNG back into its gaseous form for distribution and use in various sectors. Investments in new regasification infrastructure, including floating storage and regasification units (FSRUs), are expanding to accommodate rising LNG imports, especially in regions with limited pipeline access.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Planned LNG Industry. Request a Free Sample PDF!

Planned LNG Market End-Use Industry Segment Analysis

According to Cognitive Market Research, the dominating End-Use Industry is Residential. The residential end-use industry has captured the largest market share in the planned LNG market due to increasing global demand for cleaner household energy solutions. LNG is favored for residential applications because it burns cleaner than traditional fuels like coal and oil, reducing greenhouse gas emissions and improving air quality. Governments and consumers alike are shifting towards LNG for heating and cooking purposes, supported by advancements in infrastructure for distributing LNG to residential areas efficiently and safely.

The commercial end-use industry is experiencing the highest compound annual growth rate (CAGR) in the planned LNG market primarily due to increasing adoption of LNG as a cost-effective and cleaner energy source for various commercial applications. LNG is favored in commercial sectors such as hotels, restaurants, and retail due to its lower emissions and competitive pricing compared to traditional fuels. Moreover, advancements in LNG infrastructure and distribution networks are facilitating easier access and use of LNG in commercial settings, driving market growth.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

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