Liquefied Natural Gas Market Research Report Size, share, Growth & Forecast till 2027
LNG Market The Liquified Natural Gas (LNG) Market was valued around USD 94.0 billion in 2019 and is expected to reach USD 137 billion by the end of2027, growing at a CAGR of 4.8% over the period (2020-2027). The factors driving the growth of LNG Market includes rise in the energy consumption around the world, degradation of coal reserves and increasing application of LNG for food processing, Bottling of beverages and manufacturing dairy products. As per the World Energy & Climate Statistics Yearbook- 2022, the world energy consumption rebounded by 5% in 2021, after declining from 4.5% in 2020, which will boost the LNG Market Growth in the approaching years. In addition, the growing focus towards using cleaner sources of energy, rise in Government’s expenditure on power related projects, increasing use of LNG as a fuel in the Automotive Industry, and rise in the crude oil prices across the globe, are some of the additional factors supplementing the LNG Market share . As per the...