Global Floating LNG power vessel Market was valued at US$ 785.0Mn in 2017 and is expected to reach US$ 1080.0Mn by 2026 at a CAGR of 4.07 %. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
The report also helps in understanding global floating LNG power vessel market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.
The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the upcoming future to the emerging segment in the global floating LNG power vessel market. Floating LNG (liquefied natural gas) power vessel is suitable for the areas where the large electrical demand exists. Growing adoption of floating LNG power vessel, due to an increasing use of electricity is a major factor driving the growth of the global floating LNG power vessel market. Moreover, increasing demand for floating LNG power vessel, due to various benefits offered by floating LNG power vessel over land-based power plants is another factor expected to fuel the growth of the target market over the forecast period. Moreover, the lack of power infrastructure across the globe is one more factor estimated to propel the growth of the global market during the forecast period.
The increasing use of renewable energy is factor expected to restrain the growth of the floating LNG power vessel market in the upcoming future. Floating LNG power vessel market provides ample opportunities to grow in the adoption of LNG as an energy source in numerous countries across the world. Power ship segment dominates the global floating LNG power vessel market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to its self-propelling property. It is generally used in the energy leasing market for short- and mid-term contracts as of its self-propelling property.
The Karadeniz Holding holds the major share in supplying power ships to the floating LNG power vessel market. Region-wise, The Asia Pacific is expected to be the largest market for floating LNG power vessel in 2026 and is anticipated to grow at the highest CAGR over the forecast period. The Asia Pacific is one of the greatest populated regions in the world and witnesses a high demand for electricity. By and large, the demand for power vessel market is recorded from South East Asian island countries, due to the limited land availability for power plant construction. Thus, the governments of South East Asian island countries are investing heavily in fulfilling the growing demand for power.
The scope of the Global Floating LNG power vessel Market
Global Floating LNG power vessel Market, by Component
• Power Generation System
• Power Distribution System
Global Floating LNG power vessel Market, by Power output
• Up to 72 MW
• 72 MW-400 MW
• Above 400 MW
Global Floating LNG power vessel Market, by Vessel type
• Power Barge
• Power Ship
Global Floating LNG power vessel Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
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