Since the level of emissions from power plants and automobiles has significantly increased, it has become necessary to find alternatives to conventional fuels such as coal and other petroleum-based fuels. As a result, many major consumer economies have expressed an interest in using natural gas as an effective substitute with lower emissions. According to analysis, global natural gas production increased by approximately 2.2% in 2015 over the previous year, while consumption increased by 1.7%. Natural gas exports have increased significantly in countries such as Australia, Qatar, and Norway. According to the same source, global LNG trade was valued at approximately 244.8 MT in 2015, a nearly 4.7 MT increase over 2014. Thus, increasing focus on natural gas from developed as well as emerging economies is expected to boost the Global Bulk Terminals Market growth over the forecast period.
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