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The Asia Pacific Liquefied Natural Gas market size was valued at US$ 156.2 billion in 2024 and is projected to reach US$ 228.7 billion by 2030, at a CAGR of 6.5% during the forecast period 2024-2030.
Liquefied Natural Gas (LNG) is natural gas that has been cooled to a liquid state for ease of storage and transport, used as a cleaner alternative to coal and oil in power generation, industrial processes, and residential applications.
The Asia Pacific LNG market is experiencing robust growth, driven by increasing energy demand and a shift towards cleaner fuel sources. China accounts for 35% of the market, followed by Japan at 25% and South Korea at 20%. In 2023, power generation consumed 45% of total LNG imports, with industrial use at 30% and residential/commercial at 20%. The market saw a 10% increase in demand due to coal-to-gas switching policies in major economies. Key players include China National Offshore Oil Corporation (CNOOC) and JERA Co., Inc. (Japan), collectively holding a 30% market share in the region.
The industry is investing heavily in import infrastructure, with a 15% increase in regasification capacity additions in 2023. Challenges include price volatility and competition from renewable energy sources, leading to a 8% focus on long-term contract renegotiations. The trend towards small-scale LNG has driven a 20% growth in distributed LNG applications for remote power and transportation. The market is benefiting from the expansion of LNG bunkering for maritime transport, with a 25% increase in LNG-fueled vessels orders in the region.
Report Includes
This report is an essential reference for who looks for detailed information on Asia Pacific Liquefied Natural Gas . The report covers data on Asia Pacific markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as Asia Pacific major vendors¡¯ information. In addition to the data part, the report also provides overview of Liquefied Natural Gas , including classification, application, manufacturing technology, industry chain analysis and latest market dynamics. Finally, a customization report in order to meet user's requirements is also available.
This report aims to provide a comprehensive presentation of the Asia Pacific Liquefied Natural Gas , with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Liquefied Natural Gas . This report contains market size and forecasts of Liquefied Natural Gas in Asia Pacific, including the following market information:
We surveyed the Liquefied Natural Gas manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment: