The ‘Global Small Scale Liquefaction Market 2018 – 2022’ report has been added to researchandmarkets.com's offering.
The global small scale liquefaction market is forecast to grow at a CAGR of 7.89% during the period 2018 – 2022.
The ‘Global Small Scale Liquefaction Market 2018 – 2022’ report has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is rising global oil and gas consumption. According to the US Energy Information Administration, the global liquid fuel consumption increased from 89.80 million bpd in 2011 to 98.49 million bpd in 2017. The global liquid fuel consumption grew at an annual rate of 1.56% during 2011 – 2017 and is expected to grow at a high rate during the forecast period.
One trend in the market is increasing demand for cleaner fuel for bunkering operations. Fossil fuels have been playing a major role in the production of fuel and electricity around the globe. According to the IEA, in 2015, fossil fuels accounted for the largest share of 77% of the total energy consumption.
Further, the report states that one challenge in the market is safety concerns and lack of favourable legislation. As the small scale LNG industry is growing significantly, many new players are entering the market to grab the market share. As these new players lack LNG experience, safety has been the main concern.
Read the article online at: https://www.lngindustry.com/liquefaction/02102018/global-small-scale-liquefaction-market-2018-2022-forecast/