China Liquefied Natural Gas Market Size & Outlook
China liquefied natural gas market, 2018-2030 (US$M)
Related Markets
China liquefied natural gas market highlights
- The China liquefied natural gas market generated a revenue of USD 25,948.5 million in 2023 and is expected to reach USD 54,049.7 million by 2030.
- The China market is expected to grow at a CAGR of 11.1% from 2024 to 2030.
- In terms of segment, power generation was the largest revenue generating application in 2023.
- Power Generation is the most lucrative application segment registering the fastest growth during the forecast period.
Liquefied natural gas market data book summary
| Market revenue in 2023 | USD 25,948.5 million |
| Market revenue in 2030 | USD 54,049.7 million |
| Growth rate | 11.1% (CAGR from 2023 to 2030) |
| Largest segment | Power generation |
| Fastest growing segment | Power Generation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Fuel, Power Generation |
| Key market players worldwide | BP PLC, Chevron Corp, China Petroleum & Chemical Corp Class H, Eni SpA, Equinor ASA, Exxon Mobil Corp, Gazprom, PetroChina Co Ltd Class H, Shell PLC, TotalEnergies SE |
Other key industry trends
- In terms of revenue, China accounted for 22.3% of the global liquefied natural gas market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China liquefied natural gas market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 19,891.0 million by 2030.
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Liquefied Natural Gas Market Scope
Liquefied Natural Gas Market Companies
| Name | Profile | # Employees | HQ | Website |
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China liquefied natural gas market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to liquefied natural gas market will help companies and investors design strategic landscapes.
Power generation was the largest segment with a revenue share of 46.38% in 2023. Horizon Databook has segmented the China liquefied natural gas market based on transportation fuel, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Gas-based power generation in this region accounted for more than 67 GW installed capacity as of 2020. The country has witnessed increase in gas power capacity owing to rise in environmental concerns regarding coal-based power plants.
According to the EIA’s estimates and forecasts, considering China’s economic growth, industrial expansion in the country, and its population growth, the country is likely to witness double of its current 4000 kilowatts per hour electrical consumption over the next few years.
China has been heavily dependent on coal; however, coal consumption in this region has witnessed a declining trend from 2013 to 2016 as the country committed its stance in steering the fight against global warming and carbon emissions.
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Target buyers of China liquefied natural gas market databook
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Our clientele includes a mix of liquefied natural gas market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China liquefied natural gas market , including forecasts for subscribers. This country databook contains high-level insights into China liquefied natural gas market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
China liquefied natural gas market size, by application, 2018-2030 (US$M)
China Liquefied Natural Gas Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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