Floating LNG Power Vessel Market by Vessel Type and Geography - Forecast and Analysis 2022-2026

Published: Jan 2022 Pages: 120 SKU: IRTNTR72105

The floating LNG power vessel market share is expected to increase by USD 187.45 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.58%.

This floating LNG power vessel market research report extensively covers floating LNG power vessel market segmentation by vessel type (power barge and power ship) and geography (APAC, MEA, Europe, North America, and South America). The floating LNG power vessel market report also offers information on several market vendors, including Becker Marine Systems GmbH, Chiyoda Corp., General Electric Co., IHI Corp., Karadeniz Holding, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Siemens AG, Wartsila Corp., and Wison Group among others.

What will the Floating LNG Power Vessel Market Size be During the Forecast Period?

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Floating LNG Power Vessel Market: Key Drivers, Trends, and Challenges

The increased adoption of LNG as an energy source is notably driving the floating LNG power vessel market growth, although factors such as the safety challenges associated with floating LNG vessels may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the floating LNG power vessel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Floating LNG Power Vessel Market Driver

The increased adoption of LNG as an energy source is one of the key drivers supporting the floating LNG power vessel market share growth. Fundamentally, LNG is considered the cleanest form of fossil fuel. According to the European Commission, it is one of the greatest solutions for reducing greenhouse gas emissions and combating global warming. As a result, governments across the world are raising awareness and supporting the use of LNG to minimize air pollution and related emissions. Also, LNG is considered a fantastic alternative that may assist most industrial players in bringing their facilities in accordance with present environmental laws, which are expected to become even more stringent in the future. Such factors may contribute to driving the market growth during the forecast period.

Key Floating LNG Power Vessel Market Trend

The rise in the number of deepwater and ultra-deepwater drilling projects is another factor supporting the floating LNG power vessel market growth. Deepwater and ultra-deepwater projects are far from the mainland. Hence, laying an extensive oil and gas pipeline network to transfer the produced hydrocarbons to onshore facilities is too costly. Therefore, floating LNG power vessels are economical for deepwater and ultra-deepwater projects, as these vessels can treat, liquefy, and store the natural gas extracted from offshore fields. Operators sell the LNG directly from the vessel and generate revenues. Advances in technology allowed exploring gas reserves that were initially uneconomical. Such factors are expected to drive the global floating LNG power vessel market during the forecast period.

Key Floating LNG Power Vessel Market Challenge

The safety challenges associated with floating LNG vessels is hampering the floating LNG power vessel market growth. Fires and explosions are the most dreaded accident scenarios in floating LNG power vessels. As a result, any equipment that handles, processes, or stores components, such as risers, pipes, separators, heat exchangers, turbines, compressors, and pumps, can be a source of unwanted release, resulting in fires and explosions. Since the escape routes available in case of an accident are limited, which means that the reliability of the safety systems for the floating LNG system is more critical than that of a land-based facility. Thus, the issues related to health and safety are some of the major challenges that may hamper the market growth during the forecast period.

This floating LNG power vessel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the floating LNG power vessel market as a part of the global construction machinery and heavy trucks market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the floating LNG power vessel market during the forecast period.

Who are the Major Floating LNG Power Vessel Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Becker Marine Systems GmbH
  • Chiyoda Corp.
  • General Electric Co.
  • IHI Corp.
  • Karadeniz Holding
  • Kawasaki Heavy Industries Ltd.
  • MAN Energy Solutions SE
  • Siemens AG
  • Wartsila Corp.
  • Wison Group

 

This statistical study of the floating LNG power vessel market encompasses successful business strategies deployed by the key vendors. The floating LNG power vessel market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • General Electric Co. - The company offers floating LNG power vessel products such as GE PGT25+G4 DLE gas turbines and GE 2BCL compressors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The floating LNG power vessel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Floating LNG Power Vessel Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the floating LNG power vessel market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Floating LNG Power Vessel Market?

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69% of the market's growth will originate from APAC during the forecast period. China, Indonesia, Ghana, and Japan are the key markets for the floating LNG power vessel market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Increased urbanization, population growth, and increased energy demand will facilitate the floating LNG power vessel market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted various businesses across the region. To limit the spread of the disease, governments of various countries in the region imposed severe lockdown restrictions and social distancing measures. This led to the shutdown of operations in manufacturing facilities. As a result of supply chain disruptions, industry participants faced several hurdles. However, the vendors are expected to witness improvement in sales during the forecast period.

What are the Revenue-generating Vessel Type Segments in the Floating LNG Power Vessel Market?

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The floating LNG power vessel market share growth by the power barge segment will be significant during the forecast period. Power barges are self-contained floating power generators that do not rely on local resources or infrastructure to function. They provide energy to coastal regions, harbors, and sites near rivers because they are quick to deploy. These mobile units are extremely adaptive and flexible, posing few risks to operators while yielding significant returns. The sale of power barge vessels will contribute to the growth of the market in focus during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the floating LNG power vessel market size and actionable market insights on post COVID-19 impact on each segment.

 

Floating LNG Power Vessel Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.58%

Market growth 2022-2026

$ 187.45 million

Market structure

Fragmented

YoY growth (%)

2.32

Regional analysis

APAC, MEA, Europe, North America, and South America

Performing market contribution

APAC at 69%

Key consumer countries

China, Indonesia, Ghana, Japan, and Russian Federation

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Becker Marine Systems GmbH, Chiyoda Corp., General Electric Co., IHI Corp., Karadeniz Holding, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Siemens AG, Wartsila Corp., and Wison Group

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Floating LNG Power Vessel Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive floating LNG power vessel market growth during the next five years
  • Precise estimation of the floating LNG power vessel market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the floating LNG power vessel industry across APAC, MEA, Europe, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of floating LNG power vessel market vendors

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***1. Executive Summary                           

                **1.1 Market Overview

                                *Exhibit 01:  Key Finding 1

                                *Exhibit 02:  Key Finding 2

                                *Exhibit 03:  Key Finding 3

                                *Exhibit 04:  Key Finding 5

                                *Exhibit 05:  Key Finding 6

                                *Exhibit 06:  Key Finding 7

                                *Exhibit 07:  Key Finding 8

***2. Market Landscape                             

                **2.1 Market ecosystem             

                                *Exhibit 08:   Parent market

                                *Exhibit 09:  Market Characteristics

                **2.2 Value chain analysis           

                                *Exhibit 10:  Value chain analysis

                                *2.2.1 Inputs

                                *2.2.2 Inbound logistics

                                *2.2.3 Operations

                                *2.2.4 Distribution and logistics

                                *2.2.5 Marketing and sales

                                *2.2.6 Aftermarket and service

                                *2.2.7 Industry innovations

***3. Market Sizing                       

                **3.1 Market definition

                                *Exhibit 11:   Offerings of vendors included in the market definition

                **3.2 Market segment analysis 

                                *Exhibit 12:   Market segments

                **3.3 Market size 2021 

                **3.4 Market outlook: Forecast for 2021 - 2026 

                                *Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ million)

                                *Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                          

                **4.1 Five Forces Summary        

                                *Exhibit 15: Five forces analysis 2021 & 2026

                **4.2 Bargaining power of buyers           

                                *Exhibit 16: Bargaining power of buyers

                **4.3 Bargaining power of suppliers       

                                *Exhibit 17: Bargaining power of suppliers

                **4.4 Threat of new entrants    

                                *Exhibit 18: Threat of new entrants

                **4.5 Threat of substitutes         

                                *Exhibit 19: Threat of substitutes

                **4.6 Threat of rivalry   

                                *Exhibit 20: Threat of rivalry

                **4.7 Market condition

                                *Exhibit 21:  Market condition - Five forces 2021

***5. Market Segmentation by Vessel type                       

                **5.1 Market segments

                                *The segments covered in this chapter are:

  • Power barge
  • Power ship

                                *Exhibit 22:  Vessel type - Market share 2021-2026 (%)

                **5.2     Comparison by Vessel type         

                                *Exhibit 23:  Comparison by Vessel type

                **5.3     Power barge - Market size and forecast 2021-2026            

                                *Exhibit 24:  Power barge - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 25:  Power barge - Year-over-year growth 2021-2026 (%)

                **5.4     Power ship - Market size and forecast 2021-2026               

                                *Exhibit 26:  Power ship - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 27:  Power ship - Year-over-year growth 2021-2026 (%)

                **5.5 Market opportunity by Vessel type             

                                *Exhibit 28:  Market opportunity by Vessel type

***6. Customer landscape                         

                **6.1     Overview           

                                *Exhibit 29:  Customer landscape

***7. Geographic Landscape                     

                **7.1 Geographic segmentation

                                *The regions covered in the report are:

  • APAC
  • MEA
  • Europe
  • North America
  • South America

                                *Exhibit 30:  Market share by geography 2021-2026 (%)

                **7.2 Geographic comparison   

                                *Exhibit 31:  Geographic comparison

                **7.3     APAC - Market size and forecast 2021-2026          

                                *Exhibit 32:  APAC - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 33:  APAC - Year-over-year growth 2021-2026 (%)

                **7.4     MEA - Market size and forecast 2021-2026           

                                *Exhibit 34:  MEA - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 35:  MEA - Year-over-year growth 2021-2026 (%)

                **7.5     Europe - Market size and forecast 2021-2026       

                                *Exhibit 36:  Europe - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 37:  Europe - Year-over-year growth 2021-2026 (%)

                **7.6     North America - Market size and forecast 2021-2026        

                                *Exhibit 38:  North America - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 39:  North America - Year-over-year growth 2021-2026 (%)

                **7.7     South America - Market size and forecast 2021-2026        

                                *Exhibit 40:  South America - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 41:  South America - Year-over-year growth 2021-2026 (%)

                **7.8 Key leading countries        

                                *Exhibit 42:  Key leading countries

                **7.9 Market opportunity by geography

                                *Exhibit 43:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                   

                **8.1 Market drivers     

                                *8.1.1    Increased Adoption of LNG as an Energy Source

                                *8.1.2    Rising global oil and gas consumption

                                *8.1.3    Increasing adoption of FLNG

                **8.2 Market challenges              

                                *8.2.1    Safety challenges associated with FLNG vessels

                                *8.2.2    Fluctuations in oil and gas prices

                                *8.2.3    Stringent government regulations

                             *Exhibit 44:  Impact of drivers and challenges

                **8.3 Market trends      

                                *8.3.1    Rise in the number of deepwater and ultra-deepwater drilling projects

                                *8.3.2    Emissions efficiency

                                *8.3.3    Increasing use of natural gas in the transportation sector

***9. Vendor Landscape                             

                **9.1     Overview           

                                *Exhibit 45:  Vendor landscape

                **9.2     Landscape disruption    

                                *Exhibit 46:   Landscape disruption

                                *Exhibit 47:  Industry risks

***10. Vendor Analysis               

                **10.1 Vendors covered              

                                *Exhibit 48:  Vendors covered

                **10.2 Market positioning of vendors    

                                *Exhibit 49:  Market positioning of vendors

                **10.3  Becker Marine Systems GmbH  

                                *Exhibit 50:  Becker Marine Systems GmbH - Overview

                                *Exhibit 51:  Becker Marine Systems GmbH - Product and service

                                *Exhibit 52:  Becker Marine Systems GmbH - Key offerings

                **10.4  Chiyoda Corp.   

                                *Exhibit 53:  Chiyoda Corp. - Overview

                                *Exhibit 54:  Chiyoda Corp. - Business segments

                                *Exhibit 55:  Chiyoda Corp. - Key offerings

                                *Exhibit 56:  Chiyoda Corp. - Segment focus

                **10.5  General Electric Co.        

                                *Exhibit 57:  General Electric Co. - Overview

                                *Exhibit 58:  General Electric Co. - Business segments

                                *Exhibit 59: General Electric Co.- Key news

                                *Exhibit 60:  General Electric Co. - Key offerings

                                *Exhibit 61:  General Electric Co. - Segment focus

                *10.6     IHI Corp.

                                *Exhibit 62:  IHI Corp. - Overview

                                *Exhibit 63:  IHI Corp. - Business segments

                                *Exhibit 64:  IHI Corp. - Key offerings

                                *Exhibit 65:  IHI Corp. - Segment focus

                **10.7  Karadeniz Holding           

                                *Exhibit 66:  Karadeniz Holding - Overview

                                *Exhibit 67:  Karadeniz Holding - Product and service

                                *Exhibit 68:  Karadeniz Holding - Key offerings

                **10.8  Kawasaki Heavy Industries Ltd.  

                                *Exhibit 69:  Kawasaki Heavy Industries Ltd. - Overview

                                *Exhibit 70:  Kawasaki Heavy Industries Ltd. - Business segments

                                *Exhibit 71:  Kawasaki Heavy Industries Ltd. - Key offerings

                                *Exhibit 72:  Kawasaki Heavy Industries Ltd. - Segment focus

                **10.9  MAN Energy Solutions SE             

                                *Exhibit 73:  MAN Energy Solutions SE - Overview

                                *Exhibit 74:  MAN Energy Solutions SE - Product and service

                                *Exhibit 75:  MAN Energy Solutions SE - Key offerings

                **10.10                Siemens AG       

                                *Exhibit 76:  Siemens AG - Overview

                                *Exhibit 77:  Siemens AG - Business segments

                                *Exhibit 78:  Siemens AG- Key news

                                *Exhibit 79:  Siemens AG - Key offerings

                                *Exhibit 80:  Siemens AG - Segment focus

                **10.11                Wartsila Corp.  

                                *Exhibit 81:  Wartsila Corp. - Overview

                                *Exhibit 82:  Wartsila Corp. - Business segments

                                *Exhibit 83:  Wartsila Corp. - Key offerings

                                *Exhibit 84:  Wartsila Corp. - Segment focus

                **10.12                Wison Group    

                                *Exhibit 85:  Wison Group - Overview

                                *Exhibit 86:  Wison Group - Product and service

                                *Exhibit 87:  Wison Group - Key offerings

***11. Appendix                            

                **11.1 Scope of the report         

                                *11.1.1 ????Market definition

                                *11.1.2 Objective

                                *11.1.3 Notes and caveats

                **11.2 Currency conversion rates for US$            

                                *Exhibit 88:  Currency conversion rates for US$

                **11.3 Research Methodology 

                                *Exhibit 89:  Research Methodology

                                *Exhibit 90:  Validation techniques employed for market sizing

                                *Exhibit 91:  Information sources

                **11.4 List of abbreviations        

                                *Exhibit 92:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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