Europe Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation, By Type (Liquefaction Terminal, Regasification Terminal), Storage Tank Type (Single Containment Tank, Double Containment Tank, Full Containment Tank, Membrane Tank, In-Ground Tank, Others), Application (Heavy Commercial Vehicle, Medium Commercial Vehicles, Municipality Trucks, Others) – Industry Trends and Forecast to 2029.
Europe Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation Analysis and Size
The rising LNG projects within the region is the factor boosting the growth of the market over the forecasted period. Despite low prices and market uncertainty the small scale LNG projects are on the high rise. LNG is becoming increasingly cost competitive which is adding to the market’s growth rate. The drive for cleaner fuel and the desire for energy companies to expand and diversify their LNG businesses is also fueling the growth of the market. Moreover, the investors are actively investing in the end user industries due to the potential for small scale LNG projects ad their upcoming benefits globally.
Europe small scale liquefied natural gas (LNG) market in road transportation was 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 2022-2029. 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.
Europe Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Liquefaction Terminal, Regasification Terminal), Storage Tank Type (Single Containment Tank, Double Containment Tank, Full Containment Tank, Membrane Tank, In-Ground Tank, Others), Application (Heavy Commercial Vehicle, Medium Commercial Vehicles, Municipality Trucks, Others)
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Countries Covered
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Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe
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Market Players Covered
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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), Gazprom International Limited (Russia), Excelerate Energy, Inc. (U.S.), Equinor ASA (Norway), PT Pertamina(Persero) (Indonesia), China National Offshore Oil Corporation (China), IHI Corporation (Japan), Prometheus Fuels (U.S.), NOVATEK (Russia)
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Market Opportunities
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Market Definition
Small scale LNG in road transportation refers to the industry in which the LNG is used directly in liquid from, which is further converted to gas that is used in the vehicles. It is used in various types of vehicles such as heavy and light commercial vehicles and is available in two types: liquefaction and regasification terminal.
Europe Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Demands of LNG
The rising demands for electricity due to rising infrastructure and by various end user industries. the rising activities for cooking and heating have also boosted the demands of LNG production over the recent years globally. The expansion of end use industries along with the increase in urbanization and population will further propel the growth rate of LNG market.
Opportunities
- Regulations boosting Demand for VOC-free Coatings
The favorable initiatives by government associated with environmental regulations to increase demand for greener solutions, will further extend profitable opportunities to the market players. The European Commission and other federal government agencies create new laws and regulations, such as the Eco-product Certification Scheme (ECS). These regulations guarantee low or no harmful emissions and a green and sustainable environment. To produce more environmentally friendly fuels, these regulations incentivize fuel companies to invest in bio-based fuel resources and rising demands of greener fuel solutions. Government regulations in the US and Western Europe, especially those pertaining to air pollution, will continue to support the use of low-pollution fuels. These initiatives are creating certain growth opportunities for the market over the forecasted period.
Restraints/Challenges
- Stringent Approval Process
The manufacturers must enhance their manufacturing and production processes per the regulatory policies imposed by various governments. These stringent policies further result in more time for approval, which will create hindrances for the growth of the market.
- Depleting Natural Resources And High Costs
The major restraining factor is the depleting natural resources along with the high per kg operating costs as compared to mid-size LNG and large-size LNG is the problem for the manufacturers in the manufacturing of the innovative small scale LNG products which restrain the growth of the small scale LNG market in road transportation.
This small scale liquefied natural gas (LNG) market in road transportation report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the small scale liquefied natural gas (LNG) market in road transportation contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation
In 2020, the surge in the COVID-19 pandemic negatively impacted the transportation sector due to the country-wide shutdown of manufacturing sites, shortage of labor and the decline of the supply and demand chain worldwide. These factors temporarily affected the growth of the small-scale LNG industry as it is primarily used as fuel to power LNG vehicles. However, a steady recovery in production activities from the automotive sector has been witnessed across many countries around the world since 2021, which is driving the demand for Small-scale LNG.
Recent Developments
- In 2022, Mitsui O.S.K. lines (MOL) plans to launch 110 net zero-emission oceangoing vessels by 2035. Further, to promote the wide adotion of clean energy, the japanese carrier plans to launch 90 LNG-powered vessels by 2030 as part a part of its goals.
- In 2022, Gas Authority of India Limited (GAIL) placed an order for two small-scale Liquefaction skids capable of producing LNG on pilot basis. These plants will distribute natural gas through liquefaction in the new city gas distribution (CGD) network. They will also support setting up LNG fuel stations and bunkering facilities.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Europe Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation Scope
The small scale liquefied natural gas (LNG) market in road transportation is segmented on the basis of type, storage tank type 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.
Type
- Liquefaction Terminal
- Regasification Terminal
Storage Tank Type
- Single Containment Tank
- Double Containment Tank
- Full Containment Tank
- Membrane Tank
- In-Ground Tank
- Others
Application
- Heavy Commercial Vehicle
- Medium Commercial Vehicles
- Municipality Trucks
- Others
Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation Regional Analysis/Insights
The small scale liquefied natural gas (LNG) market in road transportation is analyzed and market size insights and trends are provided by type, storage tank type and application as referenced above.
The countries covered in the small scale liquefied natural gas (LNG) market in road transportation report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Spain dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the easy availability of LNG fuel at a reasonable costs within the region.
U.K. on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the stringent government regulations within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation Share Analysis
The small scale liquefied natural gas (LNG) market in road transportation competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to small scale liquefied natural gas (LNG) market in road transportation.
Some of the major players operating in the 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)
- Gazprom International Limited (Russia)
- Excelerate Energy, Inc. (U.S.)
- Equinor ASA (Norway)
- PT Pertamina(Persero) (Indonesia)
- China National Offshore Oil Corporation (China)
- IHI Corporation (Japan)
- Prometheus Fuels (U.S.)
- NOVATEK (Russia)
Research Methodology: Europe Small Scale Liquefied Natural Gas (LNG) Market in Road Transportation
Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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