LNG (Liquefied Natural Gas) is a processed natural gas which is condensed in liquid form by reducing its temperature to approx. minus 260^oF (minus 162^oC) at ambient pressure which is known as liquefaction. Nitrogen economizer heat exchanger cold boxes and coil wound heat exchangers are equipment used in liquefaction.Rising environmental awareness among individual and growing demand for electric power with clean energy sources has become a key factor in target market growth. Rising demand for use of natural gas and other renewable energy sources has further anticipated the demand for target market growth. Furthermore, government initiative in developing clean energy resources is expected to foster the demand for LNG Liquefaction Equipment market growth in coming years.LNG Liquefaction Equipment Market was valued at US$ 85.9 billion in 2024 and is projected to grow at a CAGR of 8.8% to reach US$ 184.4 billion by 2034

 The report “LNG Liquefaction Equipment Market, By Type (Refrigerant Compressor System, Pumping & Storage System, and Power System), By Application (Small LNG Plants (2.0 MTPA), and FLNG Plants (Offshore Floating Plants)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”

 Key Highlights:

• In November 2022, Blue Energy Motors launched India’s first LNG (Liquefied Natural Gas) fueled green truck at plant in Chakan, Pune. The company’s heavy-duty and long-haul trucks powered by LNG has set to pioneer green trucking revolution in India. The company’s “5528 4x2” truck is the industry’s first 1000-It fuel tank that provides range of 1400 km in single fill.

• In December 2022, (India) JK Lakshmi partnered with GreenLine Logistics to launch LNG-fuelled heavy trucks for cement transportation. This partnership will allow GreenLine to enable JK Lakshmi Cement to decarbonize its road logistics operations in next five years.
• In April 2019, Alfa Laval launched new “gas-to-liquid plate heat exchanger” portfolio to meet needs of gas cooling duties. New launched portfolio offer greater thermal efficiency with 75% smaller footprint than shell and tubes used in same applications.

Analyst View:

The key factor driving the growth of the LNG Liquefaction Equipment market is increasing demand for LNG. Rapid growth in population, increasing economic growth and higher consumption of gas-based power facilities has further provided the lucrative opportunities in target market growth. Increasing demand for power generation and presence of major key players in this sector is expected to boost the demand for LNG Liquefaction Equipment market over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “LNG Liquefaction Equipment Market, By Type (Refrigerant Compressor System, Pumping & Storage System, and Power System), By Application (Small LNG Plants (2.0 MTPA), and FLNG Plants (Offshore Floating Plants)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”

Key Market Insights from the report:

LNG Liquefaction Equipment Market was valued at US$ 85.9 billion in 2024 and is projected to grow at a CAGR of 8.8% to reach US$ 184.4 billion by 2034. The LNG Liquefaction Equipment Market is segmented based on Type, Application and Region.

• Based on Type, LNG Liquefaction Equipment Market is segmented into Refrigerant Compressor System, Pumping & Storage System, and Power System.
• Based on Application, LNG Liquefaction Equipment Market is segmented into Small LNG Plants (2.0 MTPA), and FLNG Plants (Offshore Floating Plants).
• By Region, the LNG Liquefaction Equipment Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of LNG Liquefaction Equipment Market:

The prominent players operating in the LNG Liquefaction Equipment Market includes, General Electric, Atlas Copco Ltd., Air Products and Chemicals#Inc., Chart Energy and Chemicals#Inc., Srisen Energy Technology Co.,Ltd., MITSUI and CO.Ltd., Mitsubishi Corporation, IHI Corporation, The Linde Group, Liquefied Natural Gas Limited, ConocoPhillips Company, and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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