Accelerating Adoption of Small Scale LNG in Road Transportation for a Greener Future Driving Sustainability

Small scale liquefied natural gas (LNG) in road transportation offers versatile applications. It powers heavy-duty trucks, buses, and commercial vehicles, reducing emissions and meeting stringent regulations. The technology's features include lower greenhouse gas emissions, quieter operation, and comparable performance to diesel. LNG is used in long-haul and regional transport, supporting both urban and intercity routes. Its adoption aligns with sustainability goals, providing a cleaner alternative to traditional fuels and contributing to improved air quality and environmental conservation in the road transportation sector.

Access Full Report @ https://www.databridgemarketresearch.com/ko/reports/europe-small-scale-lng-market

Data Bridge Market Research analyses that the Europe Small Scale Liquefied Natural Gas (LNG) Market in road transportation is valued at USD 475.50 million in 2021 and is expected to reach USD 792.88 million by 2029, registering a CAGR of 6.60% during the forecast period of 2022 to 2029. Growing environmental awareness and regulatory efforts to reduce greenhouse gas emissions have led to increased interest in cleaner fuels such as LNG as a substitute for traditional diesel fuels.

Key Findings of the Study

Energy security is expected to drive the market's growth rate

Integrating LNG into the fuel mix offers a strategic advantage by decreasing reliance on conventional oil imports. This diversification enhances energy security by reducing vulnerability to supply disruptions and geopolitical tensions. Moreover, LNG's relatively stable pricing compared to volatile oil markets mitigates financial risks associated with fluctuating oil prices. As a result, utilizing LNG as an alternative fuel source safeguards against external uncertainties and fosters a more secure and resilient energy landscape.

Report Scope and Market Segmentation

Segment Analysis:

The Europe small scale liquefied natural gas (LNG) market in road transportation is segmented on the basis of type, storage tank type, and application. 

• On the basis of type, the small scale liquefied natural gas (LNG) market in road transportation is segmented into liquefaction terminal, and regasification terminal.
• On the basis of storage tank type, the small scale liquefied natural gas (LNG) market in road transportation is segmented into single containment tank, double containment tank, full containment tank, membrane tank, in-ground tank, and others.
• On the basis of application, the small scale liquefied natural gas (LNG) market in road transportation is segmented into heavy commercial vehicle, medium commercial vehicles, municipality trucks, and others.

Major Players

Data Bridge Market Research recognizes the following companies as the major Europe small scale liquefied natural gas (LNG) market in road transportation players in Europe small scale liquefied natural gas (LNG) market in road transportation are Linde plc (Ireland), Sofregaz Company (France), Wärtsilä (Finland), Stabilis Solutions, Inc (U.S.), Baker Hughes Company (U.S.), Honeywell International Inc. (U.S.), TotalEnergies (France), Shell plc (U.K.), Siemens (Germany), Air Products and Chemicals, Inc. (U.S.), Black & Veatch Holding Company. (U.S.), ENGIE (France)

Market Developments

• In 2022, Mitsui O.S.K. Lines (MOL) intends to introduce 110 oceangoing vessels with net-zero emissions by 2035. Additionally, in support of clean energy adoption, the Japanese carrier aims to roll out 90 vessels powered by liquefied natural gas (LNG) by 2030, aligning with its broader objectives.
•  In 2022, Mitsui O.S.K. Lines (MOL) has set a goal to launch 110 oceanic vessels with net-zero emissions by 2035. Concurrently, as part of its commitment to clean energy, the Japanese shipping company plans to debut 90 vessels fueled by liquefied natural gas (LNG) by 2030, in line with its overarching strategic vision.
• In June 2023, Wartsila Corporation secured a contract to enhance the regasification system capacity of a floating storage and regasification unit (FSRU) vessel. Owned by LNG Hrvatska and stationed on Krk island, the FSRU serves as an LNG terminal. Collaborating with the existing regasification system, Wartsila will bolster its capacity by 212 million standard cubic feet per day or 250,000 cubic meters per hour.
• In February 2021, Elengy, a subsidiary of ENGIE S.A, forged a partnership with Delta Rail, a transportation firm, to unveil a novel service for loading LNG containers via multimodal platforms across Europe. This accord empowers customers to load LNG containers onto Delta Rail's wagons at Elengy's LNG terminals situated in France and Belgium. Subsequently, these containers can be transported to their ultimate destinations via rail. This strategic move is anticipated to curtail costs and environmental repercussions, offering the ability to transport LNG containers across extended distances by rail.
• In July 2022, Snam and Edison formed a collaborative alliance aimed at collaborating on diverse projects across the complete spectrum of small-scale LNG activities. This partnership involves their joint efforts to recognize and cultivate prospects in fields such as road and maritime transportation, liquefaction techniques, and distribution networks within the realm of small-scale LNG.
• In December 2021, Snam and Edison joined forces through a collaborative agreement aimed at synergizing efforts across the complete small-scale LNG value chain. This partnership encompasses collaborative endeavors in diverse domains, including road and maritime transportation, liquefaction procedures, and distribution networks within the small-scale LNG sector. The two companies will collectively identify and nurture opportunities for growth and development within this segment.

Regional Analysis

Geographically, the countries covered in the Europe small scale liquefied natural gas (LNG) market in road transportation report are Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe

As per Data Bridge Market Research analysis:

Spain dominates Europe in small scale liquefied natural gas (LNG) market in road transportation during the forecast period 2022 - 2029

In 2022, Spain dominates the Europe small scale liquefied natural gas (LNG) market due to the abundant availability of LNG, combined with competitive pricing, creates a favorable environment for its adoption. This availability and cost-effectiveness incentivize industries, particularly in the transportation and energy sectors, to shift towards LNG as a cleaner alternative. As a result, the region experiences an upward trajectory in LNG utilization, bolstered by the advantageous combination of easy access and economic viability.

The U.K. is expected to witness significant growth during the forecast period of 2022 to 2029

In 2022, the U.K. is expected to witness significant growth as regulations drive businesses to transition to cleaner fuels like liquefied natural gas (LNG), aligning with emission reduction targets. To comply with these stringent rules, industries are compelled to invest in LNG-powered technologies to mitigate their environmental impact, resulting in a considerable surge in the adoption of LNG as a compliance strategy within the region.

For more detailed information about the Europe small scale liquefied natural gas (LNG) market in road transportation report, click here – https://www.databridgemarketresearch.com/ko/reports/europe-small-scale-lng-market