LIQUEFIED NATURAL GAS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Another key driver for the LNG market expansion is the increasing focus on the usage of natural gas as a transport fuel. Both compressed natural gas (CNG) as well as liquefied natural gas (LNG) are disrupting the traditional diesel and gasoline markets. Commercial vehicles especially heavy duty trucks and buses are rapidly shifting to CNG/LNG mainly in countries where gas grid is already developed. Adoption accelerated due to significant economic benefits from lower fuel costs and clean mobility. Countries like Pakistan, Iran, Argentina, Brazil and India now have sizeable CNG vehicles on road. For long haul trucks and marine vessels, LNG provides distinct advantages over conventional fuels due to its higher energy density and storage at ambient temperatures compared to compressed gas. Leading marines companies are investing in LNG fueled ships and bunkering facilities to reduce emissions. Major global truck manufacturers too launched dedicated models which can run on LNG. The US interstate trucks are shifting to LNG in big numbers to meet tightening emissions regulations.