LNG Liquefaction Equipment Market Size, Share, and Industry Analysis, By Installation Type (On Shore and Off Shore), By Heat Exchanger Type (Aluminum Plate and Coil Wound), By Plant Capacity (Small Scale (<0.25 MTPA), Mid-Scale (>0.25 MTPA to <2.0 MTPA), Large Scale (>2 MTPA), and Floating LNG (FLNG)), and Regional Forecast, 2024-2032

Liquefied Natural Gas (LNG) is a liquid natural gas manufactured and stored at a cryogenic temperature of (-161^oC). LNG liquefaction equipment is designed and manufactured to compress, condense, and cool the natural gas temperature with the help of a heat exchanger to a cryogenic temperature. The prime adoption of technology in industries such as the automotive and transportation industry as alternative clean fuel expands the potential of LNG liquefaction equipment demand during the forecast period.

The liquefaction technology is offered for two installation-type solutions, on shore and off shore. At the same time, liquefaction technology uses two types of heat exchangers, which are the aluminum plate and coil wound. Depending upon the scale of the industry, whether small-scale, mid-scale, large-scale, or floating, the heat exchangers are designed as per the end user’s requirement.

The global LNG liquefaction equipment market is estimated to grow progressively with expanding production facilities and investment of the government in the automotive & transportation sector to develop flex fuel or sustainable fuel. The globally expanding aerospace and defense industry is estimated to raise the demand for LNG liquefaction in the forthcoming period.

The demand for LNG liquefaction equipment faced rough business in the global market during the COVID-19 pandemic. This was due to the disruption of global trade and the minimal production of automobiles globally owing to policy changes in emission norms. The high crude oil prices and low infrastructure availability for LNG supply threatened the demand for LNG liquefaction equipment.

However, the resurrection in automotive manufacturing and focus on development and investing activities for sustainable fuel resumed the demand for LNG liquefaction equipment across the chemical industry and refineries.

Key Insights:

The report covers the following key insights:

• Recent Industry Trends and Developments


• Competitive Landscape & Key Players


• Complete Background Analysis, including Assessment of the Global LNG Liquefaction Equipment Market


• Complete Analysis of Segments


• Impact of COVID-19 on the Global LNG Liquefaction Equipment Market

Segmentation:

Plant Capacity Analysis:

The smaller-scale LNG plants, which produces up to 2 million tons of LNG annually (MTPA) are appropriate for areas with little demand for LNG or little gas deposits. The equipment used in these installations is generally more modular and less complex compared to larger facilities. The segment is expected to be driven by the increasing demand for heating fuels in distant regions and increased investment in stranded gas reserves.

Regional Analysis:

• The North America market is estimated to grow progressively with expanding demand for alternate clean fuel across the automotive industry, prominently in the U.S. and Canada. The U.S. has emerged as a major player in the LNG market with the expansion of export terminals along the Gulf Coast. The region has seen significant investments in liquefaction capacity.


• Europe is a growing market for LNG, driven by efforts to diversify energy sources and reduce dependence on pipeline gas from Russia. Several European countries such as the U.K., Germany, France, and Italy, are prominent contributors to the region, investing heavily in LNG import terminals and associated infrastructure.


• Asia Pacific is one of the fastest-growing markets for automotive transportation. Countries such as Indonesia and Malaysia are emerging as important players in the LNG market. They are investing in both LNG production and import infrastructure.


• Latin America is set to grow steadily, with countries in Latin America, such as Peru and Argentina, developing LNG export projects. Others, such as Mexico, are focusing on building import infrastructure.


• The Middle East & Africa is set to grow progressively, with countries in this region, including Qatar and Mozambique, as major players in LNG production. They continue to invest in expanding their liquefaction capacities infrastructure across countries such as Saudi Arabia, Turkey, Israel, and other countries in the region.

Key Players Covered:

The report covers the profiles of key players, including Air Products and Chemicals, Linde Group, ConocoPhillips Company, Atlas Copco, Ingersoll Rand, General Electric, Kobelco Compressors, Chart Energy and Chemicals, Elliott, MITSUI E&S, MCO, IHI Corporation, Mitsubishi Heavy Industries (MHI), NEUMAN & ESSER, Cryostar, Nikkiso, Fives Group, Sichuan Air Separation Equipment (Group), Liaoning CIMC Harbin Cryogenic Gas Liquefaction Equipment, Shaanxi Blower (Group), Chengdu Shenleng Liquefaction Plant, and Hangzhou Zhongtai Cryogenic Technology.

Key Industry Developments:

• September 2023 – Technip Energies, a global leader in LNG plant design and commissioning, launched their pre-engineered and standardized solution, SnapLNG, on 8^th September at Gastech Exhibition Singapore. It is a 2.5 million tpy LNG train solution comprising reproducible modules that are electrically driven.

• March 2023 – Chart Industries, a global engineering leader, completed the acquisition of Howden, a leading solution provider of critical gas and air handling products. The acquisition would expand the product portfolio of clean resource technology solutions.

• March 2023 – Nikkiso Clean Energy & Industrial Gases Group, a unit of Nikkiso Co., Ltd., operating under Cryogenic Industries Inc., expanded its footprints in Africa with an engineering hub and economic center in South Africa. The facility would be providing technical sales and field service support in the region on all group products.