Global Floating LNG Power Vessel Market Overview:
A floating LNG power plant (FLNG) is an LNG power plant assembled on a ship or a barge with LNG storage and offloading facilities. LNG is considered the cleanest fossil fuel. It is one of the best solutions to reduce greenhouse gas emissions and combat global warming. LNG is considered a fantastic alternative that could help most industries bring their facilities under current environmental laws that are expected to become more stringent in the future. These factors may contribute to driving growth during the forecast year.
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Growing Adoption of Floating LNG as an Energy source
Market Growth Drivers:
Increasing Demand for Floating LNG Plants by Areas with Limited Infrastructure and Undeveloped Regions and Rising Demand for Reducing Greenhouse Gas Emissions and Combat Global Warming
Increased Focus on Renewal Energy, High Volatility, and Uneven LNG Prices
High Maintenance and Operational Cost Associated With Transportation, Logistic, and Associability Issues Faced by Floating LNG Power Vessels
Increasing Demand for Innovative Technologies such as APCI DMR Process and Four LNG Loading Arms.
Floating LNG Power Vessel is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge.
Some of the key players profiled in the report are Chiyoda Corporation (Japan), Technip Energies N.V. (France), Wartsila (Finland), Mitsubishi Heavy Industries, Ltd (Japan), Samsung Heavy Industries Co., Ltd (South Korea), General Electric (US), Waller Marine Inc. (United States), Power Barge Corporation (United States) and Hyundai Heavy Industries Co., Ltd. (South Korea). Considering Market by Type, the sub-segment i.e. Power Barge will boost the Floating LNG Power Vessel market. Considering Market by Power Output, the sub-segment i.e. Small Scale (Up to 72 MW) will boost the Floating LNG Power Vessel market.
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Research Methodology:The top-down and bottom-up approaches are used to estimate and validate the size of the Global Floating LNG Power Vessel market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Floating LNG Power Vessel market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.