LNG Liquefaction Equipment Market Share Driven by Demand for Cleaner Energy and Modular Plant Deployments | Valuates Reports

LNG Liquefaction Equipment Market Size
The global market for LNG Liquefaction Equipment was valued at US$ 832 million in the year 2024 and is projected to reach a revised size of US$ 1150 million by 2031, growing at a CAGR of 4.8% during the forecast period.

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The LNG liquefaction equipment market is expanding steadily as global energy strategies shift toward cleaner and more flexible fuel options. Growing consumption of natural gas, particularly in regions transitioning away from coal and oil, is contributing significantly to market size. Market trends show a rising preference for modular and decentralized liquefaction plants, which offer faster setup times and greater scalability. In parallel, stricter emission regulations and increasing demand for energy diversification are further fueling market growth across both emerging and developed economies.

Among the various equipment types, compressors currently hold the largest market share due to their critical role in pressurizing natural gas for effective liquefaction. These components are essential in large- and mid-scale operations where high throughput and efficiency are paramount. Meanwhile, LNG pumps are experiencing the fastest market growth, supported by their expanded use in both small- and mid-scale facilities for transportation and storage functions. Heat exchangers and other auxiliary systems remain indispensable but comparatively stable in their adoption rates.

In terms of application, large LNG plants account for the dominant market share, as they supply bulk volumes to international markets and serve as the backbone of global LNG trade. However, the mid-scale LNG plant segment is showing the fastest growth, driven by rising demand in regional distribution, peak shaving, and off-grid applications. Small LNG plants are gaining relevance in remote locations and industrial setups but remain limited in scale when compared to larger installations.

Overall market growth is being shaped by a convergence of factors including technological innovation in liquefaction processes, increased investment in LNG infrastructure, and the need for energy security. Looking ahead, the market forecast is expected to benefit from advancements in cryogenic materials, process efficiency improvements, and strategic developments in LNG trade routes. These dynamics position LNG liquefaction equipment as a critical component in the evolving global energy landscape.

by Type

• Heat Exchanger
• Compressor
• LNG Pump
• Others

by Application

• Small LNG Plants (Below 0.25 MTPA)
• Mid-Scale LNG Plants (0.25 to 2.0 MTPA)
• Large LNG Plants (Above 2.0 MTPA)

By Company

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, Suzhou Oxygen Plant, Shaanxi Blower (Group), Chengdu Shenleng Liquefaction Plant, Hangzhou Zhongtai Cryogenic Technology

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This release was published on openPR.