GVR Report coverLiquefied Natural Gas Market Size, Share & Trends Report Liquefied Natural Gas Market Size, Share & Trends Analysis Report By Application (Transportation Fuel, Power Generation, Others), By Region (Europe, MEA), And Segment Forecasts, 2022
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- Category: El Musel
- Published on Monday, 21 November 2022 03:57
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https://www.grandviewresearch.com/industry-analysis/liquefied-natural-gas-lng-market
Report Overview
The global liquefied natural gas market size was valued at USD 109.48 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2030. The growing demand for electric power through clean energy sources is likely to propel market growth over the coming years. A growing focus on projects related to distributed power & utility is anticipated to bolster the market growth over the next eight years. The projected growth in natural gas in the power generation business is also likely to create more demand for liquefied natural gas (LNG) across various countries. Coal is the major source of generating electricity worldwide; however, considering the degradation of coal reserves and its adverse environmental impact, there has been a rise in the use of natural gas and other renewable sources of energy for the production of electricity.