Floating LNG Power Vessel Market Scope, Growth, Demand and Regional Forecast to 2025

Floating LNG Power Vessel Market is projected to be valued at USD 668.8 Million by 2025, with 4.16% CAGR during the forecast period, 2019–2025. Floating LNG power vessels are specialized offshore vessels that use LNG to generate electricity through onboard components such as steam generators and gas turbines. The lack of power generation infrastructure and shortage of capital investments is the primary factor driving the demand for such temporary power generation solutions.

Leading Players analyzed in the 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).

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Segmental Analysis

The Global Floating LNG Power Vessel Market has been segmented based on vessel type, power output, and component.

Based on vessel type, the global market is divided into power barge and power ship. The power ship segment is expected to hold a larger share of the market during the forecast period.

Based on power output, the global market is segmented into up to 70 MW, 70 MW–350 MW, and above 350 MW. The 70 MW–350 MW segment is expected to grow with the highest CAGR during the forecast period as the engines in this segment are mostly powered by liquid fuel or gas.

Based on components, the global floating LNG power vessel market has been divided into power generation system and power distribution system. The power generation system segment is expected to hold a larger share of the market due to the increasing demand for integrated IC engines and gas turbine-powered vessels.

Regional Outlook

The global floating LNG power vessel market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America.

Asia-Pacific is expected to hold the largest share of the market during the forecast period. This is because industrialization in the region is growing at a tremendous pace due to the lower cost of labor and materials in the region. However, the cost of installing land-based power generation infrastructure is high. Hence, countries in the region are increasing the installation of floating LNG power vessels. The key players in the region are increasing their presence in the market by introducing a new offering for the region. For instance, in July 2019, Kawasaki Heavy Industries (Japan) introduced a power barge with a generation capacity of 100,000 kW. The power barge has been developed targeting remote areas in South East Asia.

The floating LNG power vessel market in Europe is expected to be dominated by Germany, owing to the increasing demand for electricity in the country. Furthermore, as the country is focused on reducing its carbon emissions, temporary floating LNG power vessels are expected to witness higher installations in the country to support the grid in Germany.

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Table Of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope Of The Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Capacity Estimation

3.4 Forecast Model

3.5 List Of Assumptions

3.6 Limitations Of The Study

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Market Drivers

5.3 Market Restraints

5.4 Market Opportunities

5.5 Porter’s Five Forces Analysis

5.5.1 Threat Of New Entrants

5.5.2 Bargaining Power Of Buyers

5.5.3 Bargaining Power Of Suppliers

5.5.4 Threat Of Substitutes

5.5.5 Rivalry

5.6 Value Chain/Supply Chain Analysis

Continued….

List Of Tables

Table 1 Global Floating LNG Power Vessel Market, By Region, 2019–2025 (USD Million)

Table 2 North America Floating LNG Power Vessel Market, By Country, 2019–2025 (USD Million)

Table 3 Europe Floating LNG Power Vessel Market, By Country, 2019–2025 (USD Million)

Table 4 Asia-Pacific Floating LNG Power Vessel Market, By Country, 2019–2025 (USD Million)

Table 5 Middle East & Africa Floating LNG Power Vessel Market, By Country, 2019–2025 (USD Million)

Table 6 South America Floating LNG Power Vessel Market, By Country, 2019–2025 (USD Million)

Continued…

List Of Figures

Figure 1 Research Process Of MRFR

Figure 2 Top-Down And Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter’s Five Forces Analysis

Figure 7 Value Chain Analysis

Figure 8 Global Floating LNG Power Vessel Market Share, By Vessel Type, 2018 (%)

Figure 9 Global Floating LNG Power Vessel Market, By Vessel Type, 2019–2025 (USD Million)

Continued…

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