Liquefied Natural Gas (LNG) Market to be Led by Power Generation Segment Through 2032
According to the ChemAnalyst report, “LNG Market Analysis: Industry Market Size, Demand & Supply, End-Use, Sales Channel, Regional Demand, Foreign Trade, Manufacturing Process, and Policy and Regulatory Landscape, 2015-2032,” the global market for Liquefied natural gas (LNG) is likely to expand and reach 33,330 MMbtu by 2032 at a healthy CAGR of 5.12% from 2023 to 2032. The market is expected to derive growth from the rising demand for electricity from clean energy sources over the forecast period. LNG is produced by cooling natural gas to a liquid state, making it easier to transport and store. Its primary applications include power generation in gas-fired plants, industrial processes, and heating and cooling systems. It is also used as a cleaner fuel for transportation, marine bunkering, and small-scale applications. The global LNG trade facilitates the distribution of LNG to meet energy demands worldwide. Overall, LNG's versatility and environmental benefits make it essentia...