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With a value of USD 668.9 million, the global floating LNG power vessel market is anticipated to grow at a CAGR of 6.16% from 2023 to 2030.
The most environmentally friendly fossil fuel is LNG. One of the best ways to lessen greenhouse gas emissions and stop global warming is through this. Governments all around the world are increasing awareness of and encouraging the use of LNG as a consequence to reduce air pollution and associated emissions. As a great alternative, LNG is thought to help most industrial players keep their facilities in line with the current environmental laws, which are anticipated to get more stricter in the future. These elements might support the growth during the forecasted years.
The most terrifying accident scenarios for floating LNG power boats involve fires and explosions. Since risers, pipes, separators, heat exchangers, turbines, compressors, and pumps are all components that are handled, processed, or stored by equipment, this means that any equipment handling, processing, or storing it could cause an unintentional release that causes fires or explosions. Because there are fewer escape routes accessible in the event of an accident, the floating LNG system's safety mechanisms must function more reliably than those at a land-based facility.
The Key Players operating in the Global Floating LNG Power Vessel Market are Wartsila (Finland), Mitsubishi Heavy Industries, Ltd (Japan), Samsung Heavy Industries Co., Ltd (South Korea), General Electric (US), Siemens (Germany), Man Diesel & Turbo SE (Germany), Waller Marine Inc (US), Power Barge Corporation (US), Chiyoda Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), IHI Corporation (Japan), and Caterpillar, Inc (US).
Based on vessel type, power output, and component, the floating LNG power vessel market has been divided into submarkets. The power barge and power ship segments of the global market are separated based on the type of vessel. During the projection period, it is anticipated that the global power ship segment will have a greater market share. But LNG power barges also command a sizeable portion of the market. The global market is divided into three categories based on power output: up to 70 MW, 70 MW-350 MW, and over 350 MW. Since the engines in this segment are typically driven by liquid fuel or petrol, it is anticipated that this segment would develop at the fastest CAGR over the course of the projected period. The power generating systems and power distribution systems segments of the worldwide floating LNG power vessel market have been established based on component. The integrated IC engine and gas turbine-powered vessels are predicted to be in higher demand, leading the power generation system sector to hold the greatest market share globally.
Due to the rising need for floating LNG plants as a result of rising energy demand in developing nations, the global floating LNG power vessel market is anticipated to expand rapidly over the forecast period. During the projection period, this is anticipated to fuel demand for marine vessel power plants. These specialised offshore support vessels, known as floating power vessels fueled by LNG, use LNG to produce energy using gas turbines and steam generators onboard. The demand for such temporary power generation solutions is primarily driven by a lack of infrastructure for power generation and a lack of capital investments.
Report Coverage
Global Floating LNG Power Vessel research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Floating LNG Power Vessel report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Floating LNG Power Vessel 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 Floating LNG Power Vessel market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Floating LNG Power Vessel market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Floating LNG Power Vessel market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Wartsila (Finland), Mitsubishi Heavy Industries, Ltd (Japan), Samsung Heavy Industries Co., Ltd (South Korea), General Electric (US), Siemens (Germany), Man Diesel & Turbo SE (Germany), Waller Marine Inc (US), Power Barge Corporation (US), Chiyoda Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), IHI Corporation (Japan), and Caterpillar, Inc (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Floating LNG Power Vessel market based on the below-mentioned segments:
Global Floating LNG Power Vessel Market, By Type
Power Barge
Power Ship
Global Floating LNG Power Vessel market, By Power Output
Up to 70 MW
70 MW–350 MW
Above 350 MW
Global Floating LNG Power Vessel Market, By Component
Power Generation System
Power Distribution System
Global Floating LNG Power Vessel market, Regional Analysis
The most environmentally friendly fossil fuel is LNG. One of the best ways to lessen greenhouse gas emissions and stop global warming is through this. Governments all around the world are increasing awareness of and encouraging the use of LNG as a consequence to reduce air pollution and associated emissions. As a great alternative, LNG is thought to help most industrial players keep their facilities in line with the current environmental laws, which are anticipated to get more stricter in the future. These elements might support the growth during the forecasted years.
The most terrifying accident scenarios for floating LNG power boats involve fires and explosions. Since risers, pipes, separators, heat exchangers, turbines, compressors, and pumps are all components that are handled, processed, or stored by equipment, this means that any equipment handling, processing, or storing it could cause an unintentional release that causes fires or explosions. Because there are fewer escape routes accessible in the event of an accident, the floating LNG system's safety mechanisms must function more reliably than those at a land-based facility.
The Key Players operating in the Global Floating LNG Power Vessel Market are Wartsila (Finland), Mitsubishi Heavy Industries, Ltd (Japan), Samsung Heavy Industries Co., Ltd (South Korea), General Electric (US), Siemens (Germany), Man Diesel & Turbo SE (Germany), Waller Marine Inc (US), Power Barge Corporation (US), Chiyoda Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), IHI Corporation (Japan), and Caterpillar, Inc (US).
Based on vessel type, power output, and component, the floating LNG power vessel market has been divided into submarkets. The power barge and power ship segments of the global market are separated based on the type of vessel. During the projection period, it is anticipated that the global power ship segment will have a greater market share. But LNG power barges also command a sizeable portion of the market. The global market is divided into three categories based on power output: up to 70 MW, 70 MW-350 MW, and over 350 MW. Since the engines in this segment are typically driven by liquid fuel or petrol, it is anticipated that this segment would develop at the fastest CAGR over the course of the projected period. The power generating systems and power distribution systems segments of the worldwide floating LNG power vessel market have been established based on component. The integrated IC engine and gas turbine-powered vessels are predicted to be in higher demand, leading the power generation system sector to hold the greatest market share globally.
Due to the rising need for floating LNG plants as a result of rising energy demand in developing nations, the global floating LNG power vessel market is anticipated to expand rapidly over the forecast period. During the projection period, this is anticipated to fuel demand for marine vessel power plants. These specialised offshore support vessels, known as floating power vessels fueled by LNG, use LNG to produce energy using gas turbines and steam generators onboard. The demand for such temporary power generation solutions is primarily driven by a lack of infrastructure for power generation and a lack of capital investments.
Report Coverage
Global Floating LNG Power Vessel research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Floating LNG Power Vessel report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Floating LNG Power Vessel 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 Floating LNG Power Vessel market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Wartsila (Finland), Mitsubishi Heavy Industries, Ltd (Japan), Samsung Heavy Industries Co., Ltd (South Korea), General Electric (US), Siemens (Germany), Man Diesel & Turbo SE (Germany), Waller Marine Inc (US), Power Barge Corporation (US), Chiyoda Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), IHI Corporation (Japan), and Caterpillar, Inc (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Floating LNG Power Vessel Market from 2021 to 2030.
- Market Forecast for Floating LNG Power Vessel Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Floating LNG Power Vessel competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Floating LNG Power Vessel
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Floating LNG Power Vessel market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Floating LNG Power Vessel market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Wartsila (Finland), Mitsubishi Heavy Industries, Ltd (Japan), Samsung Heavy Industries Co., Ltd (South Korea), General Electric (US), Siemens (Germany), Man Diesel & Turbo SE (Germany), Waller Marine Inc (US), Power Barge Corporation (US), Chiyoda Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), IHI Corporation (Japan), and Caterpillar, Inc (US)
Primary Target Market
- Market Players of Floating LNG Power Vessel
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Floating LNG Power Vessel market based on the below-mentioned segments:
Global Floating LNG Power Vessel Market, By Type
Power Barge
Power Ship
Global Floating LNG Power Vessel market, By Power Output
Up to 70 MW
70 MW–350 MW
Above 350 MW
Global Floating LNG Power Vessel Market, By Component
Power Generation System
Power Distribution System
Global Floating LNG Power Vessel market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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