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The LNG infrastructure market share is expected to increase by USD 4.81 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.19%. This LNG infrastructure market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The LNG infrastructure market report also offers information on several market vendors, including Bechtel Corp., Chiyoda Corp., Exxon Mobil Corp., Fluor Corp., JGC Holdings Corp., John Wood Group Plc, McDermott International Inc., Royal Dutch Shell Plc, Saipem SpA, and Sempra Energy among others. Furthermore, this report extensively covers LNG infrastructure market segmentation by type (liquefaction terminal and regasification terminal) and geography (North America, APAC, Europe, MEA, and South America).
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The rise in the demand for cleaner fuels is notably driving the LNG infrastructure market growth, although factors such as fluctuations in global oil and gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the LNG infrastructure industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key LNG Infrastructure Market Driver
One of the key factors driving the global LNG infrastructure market growth is the rise in the demand for cleaner fuels. According to the IEA, the demand for energy is expected to increase by 30% in 2040 over that of 2015 due to the global population growth and industrial development in emerging economies such as China and India. According to the World Bank, by 2050, the global population is expected to rise to 9.16 billion. Furthermore, oil and coal were the major sources of energy to meet the energy demand, which resulted in a significant increase in the emissions of carbon dioxide (CO2) and other GHGs. Such factors increased the demand for natural gas across the globe. For instance, according to the US EIA, natural gas-fired power plants accounted for 40% of the total production of electricity in the US in 2020, which is expected to reach 43% by 2025. Hence, the demand for natural gas is expected to increase owing to the demand for cleaner fuels, which, in turn, will positively impact the market growth during the forecast period.
Key LNG Infrastructure Market Trend
Another key factor driving the global LNG infrastructure market growth is the growing demand for LNG bunkering to cut emissions arising from shipping activities. In 2020, according to the IEA, heavy fuel oil (HFO) accounted for 79% of the fuel mix in marine bunkers. Hence, it is the most popular marine fuel across the world. However, there have been significant developments to make LNG bunkering more efficient and convenient in the past few years, due to stringent regulations on the use of conventional sources. For example, the UTS demonstrated a system that can bring bunkering infrastructure to a vessel using a floating platform, which is connected to the shore with cryoline cryogenic floating hoses. The UTS reduces the capital expenditure incurred on bunkering facilities significantly. Such developments in LNG bunkering coupled with the implementation of stringent emission regulations will further boost the demand for LNG as a marine fuel, thereby contributing to the growth of the market in focus during the forecast period.
Key LNG Infrastructure Market Challenge
One of the key challenges to the global LNG infrastructure market growth is the fluctuations in global oil and gas prices. For instance, the crude oil import cost in Japan was USD 104.16 per barrel in 2014. As per IEA, the price of crude oil declined to USD 54.42 per barrel in 2017 but increased to USD 76.49 per barrel in September 2018. Similarly, in May 2021, the prices reached USD 69.08/barrel that significantly increased to USD 74/barrel in December 2021. As there is no globally integrated market for natural gas, the pricing mechanisms vary regionally. In regions like Asia, natural gas is imported as LNG, but the supply price of LNG is indexed to that of crude oil, based on long-term contracts. Similarly, internationally traded natural gas is indexed to crude oil prices, such as Japan customs-cleared crude, i.e., Japanese Crude Cocktail (JCC) or North Sea Brent, owing to the substitutability of natural gas and petroleum products in certain markets and the transparency and liquidity of crude oil prices. Such factors are expected to pose a challenge to the growth of the global LNG infrastructure market during the forecast period.
This LNG infrastructure market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global LNG infrastructure market as a part of the global oil and gas exploration and production market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the LNG infrastructure market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the LNG infrastructure market encompasses successful business strategies deployed by the key vendors. The LNG infrastructure market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The LNG infrastructure market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the LNG infrastructure market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global oil and gas exploration and production market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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42% of the market's growth will originate from North America during the forecast period. The US is the key market for LNG infrastructure in North America. Market growth in this region will be faster than the growth of the market in Europe MEA, and South America.
The rapid shift from coal to gas in the power generation sector in countries such as the US will facilitate the LNG infrastructure market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Countries in North America witnessed a significant number of fatalities due to COVID-19 in the first half of 2020. The halt in construction activities due to lockdowns has disrupted the LNG infrastructure industry, as the construction of LNG infrastructure requires thousands of components that are provided to manufacturers by numerous suppliers. This decreased the revenue of the market in the region in 2020. However, the region is gradually propelling its economic activities due to factors such as the initiation of large-scale vaccination drives, which are supporting the growth of the regional economy.
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The LNG infrastructure market share growth by the liquefaction terminal segment will be significant during the forecast period. New construction of liquefaction terminal plants is expected to drive the growth of the segment during the forecast period. For instance, in 2021 Alaska Gasline Development announced its Nikiski LNG liquefaction terminal project at Alaska in the US, which will be operational in 2028 and is estimated to have a capacity of 20.1Mtpa (million tons per annum) the project is currently under development.
This report provides an accurate prediction of the contribution of all the segments to the growth of the LNG infrastructure market size and actionable market insights on post COVID-19 impact on each segment.
LNG Infrastructure Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.19%
Market growth 2022-2026
$ 4.81 billion
YoY growth (%)
North America, APAC, Europe, MEA, and South America
Performing market contribution
North America at 42%
Key consumer countries
US, China, Russian Federation, Japan, and Saudi Arabia
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Bechtel Corp., Chiyoda Corp., Exxon Mobil Corp., Fluor Corp., JGC Holdings Corp., John Wood Group Plc, McDermott International Inc., Royal Dutch Shell Plc, Saipem SpA, and Sempra Energy
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 3
*Exhibit 04: Key Finding 5
*Exhibit 05: Key Finding 6
*Exhibit 06: Key Finding 7
*Exhibit 07: Key Finding 8
***2. Market Landscape
**2.1 Market ecosystem
*2.1.1 Parent Market
*Exhibit 08: Parent market
*Exhibit 09: Market characteristics
**2.2 Value chain analysis
*Exhibit 10: Value chain analysis : Oil and Gas Exploration and Production Market
*2.2.3 Outbound logistics
*2.2.5 Industry innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 11: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 12: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*3.4.1 Estimating growth rates for emerging and high-growth markets
*3.4.2 Estimating growth rates for mature markets
*Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ million)
*Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 15: Five forces analysis 2021 & 2026
**4.2 Bargaining power of buyers
*Exhibit 16: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 17: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 18: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 19: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 20: Threat of rivalry
**4.7 Market condition
*Exhibit 21: Market condition - Five forces 2021
***5. Market Segmentation by Type
**5.1 Market segments
*The segments covered in this chapter are:
*Exhibit 22: Type - Market share 2021-2026 (%)
**5.2 Comparison by Type
*Exhibit 23: Comparison by Type
**5.3 Liquefaction terminal - Market size and forecast 2021-2026
*Exhibit 24: Liquefaction terminal - Market size and forecast 2021-2026 ($ million)
*Exhibit 25: Liquefaction terminal - Year-over-year growth 2021-2026 (%)
**5.4 Regasification terminal - Market size and forecast 2021-2026
*Exhibit 26: Regasification terminal - Market size and forecast 2021-2026 ($ million)
*Exhibit 27: Regasification terminal - Year-over-year growth 2021-2026 (%)
**5.5 Market opportunity by Type
*Exhibit 28: Market opportunity by Type
***6. Customer landscape
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
*Exhibit 29: Customer landscape
***7. Geographic Landscape
**7.1 Geographic segmentation
*The regions covered in the report are:
*Exhibit 30: Market share by geography 2021-2026 (%)
**7.2 Geographic comparison
*Exhibit 31: Geographic comparison
**7.3 North America - Market size and forecast 2021-2026
*Exhibit 32: North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 33: North America - Year-over-year growth 2021-2026 (%)
**7.4 APAC - Market size and forecast 2021-2026
*Exhibit 34: APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 35: APAC - Year-over-year growth 2021-2026 (%)
**7.5 Europe - Market size and forecast 2021-2026
*Exhibit 36: Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 37: Europe - Year-over-year growth 2021-2026 (%)
**7.6 MEA - Market size and forecast 2021-2026
*Exhibit 38: MEA - Market size and forecast 2021-2026 ($ million)
*Exhibit 39: MEA - Year-over-year growth 2021-2026 (%)
**7.7 South America - Market size and forecast 2021-2026
*Exhibit 40: South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 41: South America - Year-over-year growth 2021-2026 (%)
**7.8 Key leading countries
*Exhibit 42: Key leading countries
**7.9 Market opportunity by geography
*Exhibit 43: Market opportunity by geography ($ million)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Rise in the demand for cleaner fuels
*8.1.2 Growth in LNG liquefaction capacity
*8.1.3 Favorable government initiatives
**8.2 Market challenges
*8.2.1 Fluctuations in global oil and gas prices
*8.2.2 Rising adoption of renewable energy sources
*8.2.3 High cost of installation
*Exhibit 44: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Growing demand for LNG bunkering
*8.3.2 Increasing adoption of floating LNG technology
*8.3.3 Inland fueling infrastructure expands
***9. Vendor Landscape
*Exhibit 45: Vendor landscape
**9.2 Landscape disruption
*Exhibit 46: Landscape disruption
*Exhibit 47: Industry risks
**9.3 Competitive Landscape
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 48: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 49: Market positioning of vendors
**10.3 Bechtel Corp.
*Exhibit 50: Bechtel Corp. - Overview
*Exhibit 51: Bechtel Corp. - Product and service
*Exhibit 52: Bechtel Corp. - Key news
*Exhibit 53: Bechtel Corp. - Key offerings
**10.4 Chiyoda Corp.
*Exhibit 54: Chiyoda Corp. - Overview
*Exhibit 55: Chiyoda Corp. - Business segments
*Exhibit 56: Chiyoda Corp. - Key news
*Exhibit 57: Chiyoda Corp. - Key offerings
*Exhibit 58: Chiyoda Corp. - Segment focus
**10.5 Exxon Mobil Corp.
*Exhibit 59: Exxon Mobil Corp. - Overview
*Exhibit 60: Exxon Mobil Corp. - Business segments
*Exhibit 61: Exxon Mobil Corp. - Key news
*Exhibit 62: Exxon Mobil Corp. - Key offerings
*Exhibit 63: Exxon Mobil Corp. - Segment focus
**10.6 Fluor Corp.
*Exhibit 64: Fluor Corp. - Overview
*Exhibit 65: Fluor Corp. - Business segments
*Exhibit 66: Fluor Corp. - Key news
*Exhibit 67: Fluor Corp. - Key offerings
*Exhibit 68: Fluor Corp. - Segment focus
**10.7 JGC Holdings Corp.
*Exhibit 69: JGC Holdings Corp. - Overview
*Exhibit 70: JGC Holdings Corp. - Business segments
*Exhibit 71: JGC Holdings Corp. - Key news
*Exhibit 72: JGC Holdings Corp. - Key offerings
*Exhibit 73: JGC Holdings Corp. - Segment focus
**10.8 John Wood Group Plc
*Exhibit 74: John Wood Group Plc - Overview
*Exhibit 75: John Wood Group Plc - Business segments
*Exhibit 76: John Wood Group Plc - Key news
*Exhibit 77: John Wood Group Plc - Key offerings
*Exhibit 78: John Wood Group Plc - Segment focus
**10.9 McDermott International Inc.
*Exhibit 79: McDermott International Inc. - Overview
*Exhibit 80: McDermott International Inc. - Business segments
*Exhibit 81: McDermott International Inc. - Key news
*Exhibit 82: McDermott International Inc. - Key offerings
*Exhibit 83: McDermott International Inc. - Segment focus
**10.10 Royal Dutch Shell Plc
*Exhibit 84: Royal Dutch Shell Plc - Overview
*Exhibit 85: Royal Dutch Shell Plc - Business segments
*Exhibit 86: Royal Dutch Shell Plc - Key news
*Exhibit 87: Royal Dutch Shell Plc - Key offerings
*Exhibit 88: Royal Dutch Shell Plc - Segment focus
**10.11 Saipem SpA
*Exhibit 89: Saipem SpA - Overview
*Exhibit 90: Saipem SpA - Business segments
*Exhibit 91: Saipem SpA - Key offerings
*Exhibit 92: Saipem SpA - Segment focus
**10.12 Sempra Energy
*Exhibit 93: Sempra Energy - Overview
*Exhibit 94: Sempra Energy - Business segments
*Exhibit 95: Sempra Energy - Key offerings
*Exhibit 96: Sempra Energy - Segment focus
**11.1 Scope of the report
*11.1.1 Market definition
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 97: Currency conversion rates for US$
**11.3 Research Methodology
*Exhibit 98: Research Methodology
*Exhibit 99: Validation techniques employed for market sizing
*Exhibit 100: Information sources
**11.4 List of abbreviations
*Exhibit 101: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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