Floating LNG Power Vessel Market Report: Trends, Forecast and Competitive Analysis to 2030

Floating LNG Power Vessel Trends and Forecast

The future of the global floating LNG power vessel market looks promising with opportunities in the power generation system and power distribution system markets. The global floating LNG power vessel market is expected to reach an estimated $653.0 million by 2030 with a CAGR of 3.8% from 2024 to 2030. The major drivers for this market are growing power demand combined with a lack of power infrastructure, stringent emission standards for diesel engine-powered marine gensets as well as, increase in hybrid fuel engines and increasing use of LNG as an energy source.

A more than 150-page report is developed to help in your business decisions.

Floating LNG Power Vessel by Segment

The study includes a forecast for the global floating LNG power vessel by vessel type, component, power output, and region.

Floating LNG Power Vessel Market by Vessel Type [Shipment Analysis by Value from 2018 to 2030]:

• Power Barge
• Power Ship

Floating LNG Power Vessel Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Power Generation System
• Power Distribution System

Floating LNG Power Vessel Market by Power Output [Shipment Analysis by Value from 2018 to 2030]:

• Small Scale (Up To 72 Mw)
• Medium Scale (72 Mw To 400 Mw)
• High Scale (Above 400 Mw)

Floating LNG Power Vessel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Floating LNG Power Vessel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies floating LNG power vessel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the floating LNG power vessel companies profiled in this report include-

• Siemens
• MAN Diesel & Turbo
• Wartsila
• General Electric
• Caterpilar
• Hyundai Heavy Industries
• Chiyoda
• Power Barge
• Waller Marine
• Samsung Heavy Industries

Floating LNG Power Vessel Market Insights

Lucintel forecasts that power ship will remain the larger segment over the forecast period because they offer much higher power output capacities than power barges, ranging from hundreds of megawatts to several gigawatts, and it is employed for short- and mid-term contracts in the energy leasing industry due to its self-propelling feature.

APAC will remain the largest region over the forecast period due to rising government spending on power generation in this area and rising electricity consumption, as well as, floating LNG power vessels provide an adaptable and speedy way to fulfill the expanding energy need.

Features of the Global Floating LNG Power Vessel Market

Market Size Estimates: Floating LNG power vessel market size estimation in terms of value ($M).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Floating LNG power vessel market size by vessel type, component, power output, and region in terms of value ($M).

Regional Analysis: Floating LNG power vessel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different vessel type, component, power output, and regions for the floating LNG power vessel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the floating LNG power vessel market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the floating LNG power vessel market size?

Answer: The global floating LNG power vessel market is expected to reach an estimated $653.0 million by 2030.

Q2. What is the growth forecast for floating LNG power vessel market?

Answer: The global floating LNG power vessel market is expected to grow with a CAGR of 3.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the floating LNG power vessel market?

Answer: The major drivers for this market are growing power demand combined with a lack of power infrastructure, stringent emission standards for diesel engine-powered marine gensets as well as, increase in hybrid fuel engines and increasing use of LNG as an energy source.

Q4. What are the major segments for floating LNG power vessel market?

Answer: The future of the global floating LNG power vessel market looks promising with opportunities in the power generation system and power distribution system markets.

Q5. Who are the key floating LNG power vessel market companies?

Answer: Some of the key floating LNG power vessel companies are as follows.

• Siemens
• MAN Diesel & Turbo
• Wartsila
• General Electric
• Caterpilar
• Hyundai Heavy Industries
• Chiyoda
• Power Barge
• Waller Marine
• Samsung Heavy Industries

Q6. Which floating LNG power vessel market segment will be the largest in future?

Answer: Lucintel forecasts that power ship will remain the larger segment over the forecast period because they offer much higher power output capacities than power barges, ranging from hundreds of megawatts to several gigawatts, and it is employed for short- and mid-term contracts in the energy leasing industry due to its self-propelling feature.

Q7. In floating LNG power vessel market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rising government spending on power generation in this area and rising electricity consumption, as well as, floating LNG power vessels provide an adaptable and speedy way to fulfill the expanding energy need.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the floating LNG power vessel market by vessel type (power barge and power ship), component (power generation system and power distribution system), power output (small scale (up to 72 mw), medium scale (72 mw to 400 mw), and high scale (above 400 mw)), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?