Japan Liquefied Natural Gas Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 6.42% from 2023 to 2033
• The Japan Liquefied Natural Gas Market Size is Expected to Hold a Significant Share by 2033

The Japan Liquefied Natural Gas Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 6.42% from 2023 to 2033

Market Overview

Natural gas (mostly methane, CH4, with a small amount of ethane, C2H6), that has been cooled to a liquid state for convenient and secure non-pressurized storage or transportation is known as liquefied natural gas, or LNG. LNG is utilized in the same manner as regular natural gas after it has been regasified at room temperature. It is burned to provide heat, power, and cooking fuel in homes and businesses, and it is also processed to make plastics and other petrochemical products. Since liquefied natural gas burns cleaner than gasoline and diesel, it is quickly becoming a popular fuel. LNG does not need to condense back into a gas to be utilized as car fuel. LNG is also used by thermal power plants as an alternative fuel. Companies preserve LNG on-site in cryogenic tanks by chilling the gas.

Report Coverage

This research report categorizes the market for the Japan liquefied natural gas market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan liquefied natural gas market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan liquefied natural gas market.

Driving Factors

The country's LNG sector is largely driven by the fact that Japan is the largest LNG importer in the world, importing over 83 million tons of LNG yearly. The rising dependence on LNG is further compounded by Japan's large manufacturing sector and expanding energy consumption. Japan has a significant need for liquefied natural gas (LNG) primarily because of its limited renewable energy sources, especially after the Fukushima nuclear disaster that forced the country to shut down the majority of its nuclear power stations and heavily depend on LNG imports to meet its electrical power needs.

Restraining Factors

The depletion of natural resources and the unpredictability of raw material pricing are major barriers to LNG market growth.

Market Segmentation

The Japan liquefied natural gas market share is classified into application.

• The power generation segment is expected to dominate the Japan liquefied natural gas market during the forecast period.       

Based on the application, the Japan liquefied natural gas market is divided into transportation fuel, power generation, and others. Among these, the power generation segment is expected to dominate the Japan liquefied natural gas market during the forecast period. The increased inclination towards renewable energy sources for electricity production is responsible for the expansion of the power generation segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan liquefied natural gas market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Tokyo Gas
• Osaka Gas
• Toho Gas
• Saibu Gas
• JERA
• INPEX Corporation
• Mitsui & Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2023, Japanese corporations Osaka Gas and Sumitomo allegedly acquired a 30% interest in Think Gas Distribution Pvt. Ltd., an Indian petroleum supplier, for up to $1.5 billion.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Liquefied Natural Gas Market based on the below-mentioned segments:

Japan Liquefied Natural Gas Market, By Application

• Transportation Fuel
• Power Generation
• Others