Floating LNG Power Vessel Market by Component, Power Output, Vessel Type and Region - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “Floating LNG Power Vessel Market by Component (Power Generation System and Power Distribution System), Power Output (Up to 72 MW, 72 MW-400 MW, Above 400 MW), Vessel Type (Power Barge and Power Ship), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The floating LNG power vessel market is projected to reach USD 931.6 million by 2023 from an estimated USD 860.1 million in 2018, at a CAGR of 1.61%.
This growth can be attributed to the increasing demand for power and the lack of power infrastructure. However, price disparity across regional markets, increasing focus on renewable energy, and high capital cost associated with operations, maintenance, transportation, and logistics could hinder the growth of the floating LNG power vessel market.
The power distribution system is estimated to be the fastest growing segment during the forecast period. It is further classified into transformer and switchboard. Switchboard is estimated to be the fastest growing sub-segment during the forecast period, as it provides a key link in the dependability chain that ensures the smooth and reliable flow of power from the power generation units to end-users.
The Asia Pacific is expected to be the largest market for floating LNG power vessel in 2023 and is projected to grow at the highest CAGR during the forecast period. The Asia Pacific is one of the most 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, owing to the limited land availability for power plant construction. Therefore, the governments of South East Asian island countries are investing heavily in fulfilling the increasing demand for power.
For instance, Myanmar Electric Power Generation Enterprise awarded a contract to Karpowership, one of the leading players in the power ship market, to provide an FPP in Rangoon, Myanmar. Such activities are expected to drive the demand for floating LNG power vessel in the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Floating LNG Power Vessel Market, By Vessel Type
7 Floating LNG Power Vessel Market, By Power Output
8 Floating LNG Power Vessel Market, By Component
9 Floating LNG Power Vessel Market, By Region
10 Competitive Landscape
11 Company ProfilesABB Ansaldo Energia Caterpillar, Inc. Centrax Chiyoda Corporation Crompton Greaves Ltd. Dongfang Electric Corporation Limited Doosan Skoda Power Eaton Corporation Emerson Electric Company Fuji Electric Co., Ltd. General Electric Company Hyosung Corporation Hyundai Heavy Industries Co., Ltd. IHI Corporation Karpowership Kawasaki Heavy Industries Man Diesel & Turbo SE Mitsubishi Electric Corporation Mitsubishi Heavy Industries, Ltd. Mitsui O.S.K. Lines, Ltd. Modec, Inc. OPRA Power Barge Corporation Rockwell Automation SPX Transformer Solutions, Inc. Samsung Heavy Industries Co., Ltd Sevan Marine Asa Siemens AG Toshiba Corporation Vericor Power Waller Marine, Inc. Wison Group Wrtsil Corporation Zorya
For more information about this report visit https://www.researchandmarkets.com/research/kc5qq9/floating_lng?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005685/en/
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Related Topics:LNG (Liquefied Natural Gas)
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
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PUB: 09/27/2018 12:06 PM/DISC: 09/27/2018 12:05 PM