Large-scale LNG Terminals Market - Global Industry Analysis by 2024 Large-scale LNG Terminals Market | Page 2

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Europe Continues to be Most Attractive Regional Market
Based on factors such as the presence of large-scale LNG infrastructure, demand
from end-use segments, adoption of LNG bunkering, and import-export volumes of
LNG, Europe was noted to be the most attractive regional market for large-scale
LNG market in 2014. Although the region is still struggling to recover from the
recent economic turmoil, the rising use of natural gas across mid- and large-sized
demand centers have made Europe the place to be for large-scale LNG terminal
companies. Europe has also remained the leading regional market for large-scale
LNG terminals historically, but is started losing its dominance to Asia Pacific post
2008.
Nevertheless, the Europe large-scale LNG terminals market is expected to witness
significant traction in the next few years as strict emission regulation norms will
pressure the industrial as well as the commercial sectors to switch from
conventional fuels to cleaner ones. In pursuit of meeting the emission reduction
targets for 2020, Europe has already commenced the development of its LNG
infrastructure. The Europe market for large-scale LNG terminals is expected to
exhibit a CAGR of over 10% from 2015 to 2023.
On a whole, the global large-scale LNG terminals market is expected to expand at a
5.78% CAGR from 2015 to 2023, rising from a valuation of 2,684.8 MMTPA in 2014
to 4,664.7 MMTPA in 2023.
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