The increasing economic regime and subsidies play a vital role in the growth of the Liquefaction Market significantly during the forecast period. The rising environmental benefits and growing demand for natural gas as a transportation fuel are significant factors, among others which are expected to boost the growth of the liquefaction market. Furthermore, the rapid growth of the transportation, industrial feedstock, and power generation industry will augment the demand for liquefaction in the forecast period.

Data Bridge Market Research analyses that the liquefaction market was valued at USD 740.40 million in 2021 and is expected to reach USD 1,144.93 million by 2029, registering a CAGR of 5.60% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Market Definition

Liquefaction is process which produces liquid from a gas and solid compounds. It occurs both artificially and naturally. For instance, the major commercial application of this liquefaction process is the liquefaction of air which allow the separation of the elements, such as nitrogen, oxygen, and noble gases.

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Global Liquefaction Market Dynamics

Drivers

  • Rising awareness regarding the environment

The rise in awareness regarding environment-related issues and imposition of strict rules and regulations by government authorities have compelled companies to shift towards green solutions. Liquefied natural gas (LNG) has recently been used as an alternative for diesel and gasoline. Liquefied natural gas (LNG) is a clean fuel that provides consumers with a cost-effective solution. Therefore, effective use in several industries is anticipated to drive the global liquefaction market during the forecast period.

  • Increasing research and developments activities

The major market players are focusing on developing floating and smaller liquefaction trains. Furthermore, growing production and exploration activities by the unconventional oil and liquids-rich basins such as coalbed methane (CBM), shale, tight gas will boost the market growth Also, increasing offshore and onshore construction activities is also expected to drive the growth of global liquefaction market.

Opportunities

  • Emerging new projects of liquefaction

The liquefaction sector is anticipated to be the largest market share during the forecast period due to the growing investment by liquefied natural gas (LNG) exporting countries. Many liquefied natural gas (LNG) development plans or projects are expected to be proposed in the upcoming years, creating lucrative opportunities for the growth of the liquefaction market. For instance, most planned capacity additions come from North America (599.6 MTPA), with 221.8 MTPA in Canada and 350.5 MTPA in the United States. The increasing demand for liquefied natural gas (LNG) led to the further creation of numerous opportunities for the major market players in developing regions,

Global Liquefaction Market Scope

The liquefaction market is segmented based on mode of supply and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Mode of Supply

  • Truck
  • Transhipment and Bunkering
  • Pipeline and Rail

Application

  • Transportation
  • Industrial Feedstock
  • Power Generation
  • Other Applications

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Some of the major players operating in the liquefaction market are:

  • Linde Plc (Germany)
  • Air Products and Chemicals, Inc. (U.S.)
  • Sofregaz (France)
  • WÄRTSILÄ (Finland)
  • Stabilis Enlightened Energy Solutions (U.S.)
  • Baker Hughes Company (U.S.)
  • GENERAL ELECTRIC (U.S.)
  • Shell plc (U.K.)
  • Honeywell International Inc. (U.S.)
  • Siemens (Germany)
  • Gasum Oy (Finland)
  • Black & Veatch Holding Company (U.S.)
  • ENGIE (France)
  • Gazprom (Russia)
  • Excelerate Energy, Inc. (U.S.)
  • Equinor ASA (Norway)
  • PT Pertamina(Persero) (Indonesia)
  • CNOOC Limited (China)
  • Eni S.p.A (Italy)
  • Kunlun Energy Company Limited (Island)
  • Bp p.l.c (U.K.)

frequently asked questions

What is the forecasted growth of this market?

What is Product Segmentation?

Who are the key players in the market?

Which market region is expected to grow the fastest during the forecast period?

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