Liquefied Natural Gas Market Is Estimated To Witness High Growth Owing To Increasing Demand for Clean and Sustainable Energy Sources
Liquefied Natural Gas Market The global Liquefied Natural Gas (LNG) Market is estimated to be valued at US$8.8 billion in 2021 and is expected to exhibit a CAGR of 9.0% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The LNG market involves the production, transportation, and storage of natural gas in a liquefied form. LNG offers several advantages over traditional natural gas, including easier transportation and reduced storage space requirements. The increasing focus on clean and sustainable energy sources is driving the demand for LNG, as it emits lower carbon dioxide and other pollutants compared to other fossil fuels. LNG also supports the integration of renewable energy sources into the energy mix, providing a reliable and flexible backup for intermittent sources such as wind and solar energy. Market Key Trends: One key trend in the LNG market is the growing adoption of LNG as a fuel in transportation...