Harrisburg, NC -- (SBWire) -- 10/28/2020 --Global Floating LNG Power Vessel Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.
This Floating LNG Power Vessel Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
The floating LNG power vessel market is expected to rise at a CAGR of more than 2% during the forecast period of 2020-2025.
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The prominent players in the Global Floating LNG Power Vessel Market:
Wison Engineering Services Co Ltd, Kawasaki Heavy Industries Ltd, Wartsila Oyj Abp, Chiyoda Corp, Karadeniz Holding. and Others.
Key Market Trends: -
Power Barge Segment Expected to Dominate the Market
- Power Barge is a power plant facility installed on the flat floating structures. Unlike power ships, barge doesn't have a self-propelled system for moving from one location to the other, which cuts the cost of production for barges.
- As these power barges do not have any self-propelled moving systems, they are moved by other small boats or ships. The space saved from the propulsion engines in barges is used for more installation capacity of the power plant.
- As of 2018, the global import of LNG for the countries was 431 billion cubic metres (bcm), which was higher than the worldwide import of 393.9 billion cubic metres (bcm) in 2017. The increase in the use of LNG has triggered the development of floating LNG power vessel and has attracted many global investors who see this as a great and unique way to generate power.
- In 2019, the first operation of two prototypes units of the mobile shore power solution of Becker Marine Systems was operated at Hamburg. The two LNG power barge units have a total power generation capacity of 3 megawatts (MW).
- Hence, owing to the above points, the power barge segment is likely to dominate the floating LNG power vessel market during the forecast period.
Asia-Pacific Expected to Dominate the Market
- Asia-Pacific region, having the largest population, is expected to grow in the coming years, and is likely going to require more energy and resources. The government of developing countries such as China and India are continually working to fill the energy gap in their respective countries.
- For countries such as Indonesia, Myanmar, and Singapore, which have a limited area of land and are mostly surrounded by water, floating LNG power vessels are tremendously beneficial as they can be easily moved to the place requiring energy.
- Many countries in the region are leasing floating LNG power vessels for several years for the area where either power infrastructures are complicated or have harsh geography and lack of investment.
- In 2019, Kawasaki Heavy Industries Ltd obtained approval in principle from world-leading ship classification organization DNV GL for its liquefied natural gas (LNG) floating power plant equipped with its own gas turbine. Kawasaki came up with two models for the power plant, including the gas engine model and combined cycle power plant (CCPP) model. The plant is installed on the barge and is expected to have a power output of 80 megawatts (MW) for the CCPP model and 30 megawatts (MW) for the gas engine model.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Floating LNG Power Vessel Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Floating LNG Power Vessel Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
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Finally, the Floating LNG Power Vessel market report offers a complete and detailed study of Global Floating LNG Power Vessel market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Floating LNG Power Vessel Market Insights and Detailed Outlook 2020