Summary

Floating LNG Power Vessel Market Growth & Trends

The global floating LNG power vessel market size is anticipated to reach USD 923.52 million by 2030, registering a CAGR of 2.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing global energy demand, especially in remote or off-grid areas, is a significant growth driver for the market. These vessels can quickly provide access to power in regions lacking traditional grid infrastructure.

In many regions around the world, traditional grid infrastructure is either lacking or insufficient to meet the surging electricity needs of burgeoning populations and industries. Floating liquefied natural gas (LNG) power vessels offer an innovative solution by swiftly bridging this energy gap. Their mobility and quick deployment capabilities allow them to reach remote or underserved locations rapidly, providing a readily accessible source of power generation. This is especially critical in situations where establishing land-based power plants and transmission lines are impractical or cost-prohibitive. As such, these vessels play a pivotal role in enhancing energy access and supporting economic development in areas where reliable electricity supply was once a formidable challenge.

The floating liquefied natural gas power vessels occupy a pivotal role as a flexible and cleaner alternative for electricity generation. As countries and regions increasingly commit to reducing their carbon footprint and transitioning away from more carbon-intensive energy sources such as coal and oil, LNG stands out as a crucial fuel. LNG power vessels harness the inherent advantages of natural gas, emitting significantly fewer greenhouse gasses and pollutants compared to coal and oil, thus aligning with environmental goals. This transition fuel status allows nations to expedite the shift to a lower-carbon future while maintaining energy security and grid reliability, making LNG power vessels a strategic and adaptable solution to address both the immediate and long-term energy needs of a changing world.

Floating LNG power vessels are highly flexible and mobile, allowing them to be deployed to areas with changing energy demands, emergencies, or temporary power needs. They serve as peaking plants or provide baseload power, depending on the situation. Hence, this flexibility and mobility is expected to benefit market growth over the forecast period.

Floating LNG Power Vessel Market Report Highlights

• Based on vessel type, the power barge segment led the market for floating LNG power vessels and accounted for a revenue share of over 62.0% in 2022. This positive outlook is due to its ability to provide power in remote or rapidly changing energy demand scenarios as it offers quick deployment and flexibility

• Based on power output, the small-scale (up to 72 MW) power output segment is anticipated to experience rapid growth over the forecast period as it is more versatile and mobile than its larger counterparts, namely medium-scale (72 MW -400 MW), and large-scale (above 400 MW). It is easily transported and deployed to remote or hard-to-reach locations, including islands, coastal areas, and regions with limited infrastructure

• The North America region accounted for the largest market share over 22% in 2022 owing to the substantial and growing demand for energy, including electricity generation in the region

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Table of Contents

Table of Contents

Chapter 1 Methodology And Scope
1.1 Research Methodology
1.2 Research Assumptions
1.3 Market Segmentation
1.4 Information Procurement
1.4.1 Purchased Database
1.4.2 GVR’s Internal Database
1.4.3 Secondary Sources
1.4.4 Third Party Perspective
1.4.5 Primary Research
1.5 Information Analysis & Data Analysis Models
1.6 Market Formulation And Data Visualization
1.7 List Of Data Sources
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Outlook
Chapter 3 Floating LNG Power Vessel Market Variables, Trends, And Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Related Market Outlook
3.2 Industry Value Chain Analysis
3.3 Regulatory Framework
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.2 Market Restraints
3.4.3 Market Challenges
3.5 Business Environment Analysis: Floating LNG Power Vessel Market
3.5.1 Industry Analysis: Porter’s Analysis
3.5.2 Pestle Analysis
Chapter 4 Floating LNG Power Vessel Market: Vessel Type Estimates & Trend Analysis
4.1 Floating LNG Power Vessel Vessel Type Movement Analysis & Market Share, 2022 & 2030
4.2 Floating LNG Power Vessel Market Estimates & Forecast, By Vessel Type (USD Million)
4.3 Power Barge
4.3.1 Floating LNG Power Vessel Market Estimates & Forecasts, By Power Barge, 2018 - 2030 (USD Million)
4.4 Power Ship
4.4.1 Floating LNG Power Vessel Market Estimates & Forecasts, By Power Ship, 2018 - 2030 (USD Million)
Chapter 5 Floating LNG Power Vessel Market: Component Estimates & Trend Analysis
5.1 Component Movement Analysis & Market Share, 2022 & 2030
5.2 Floating LNG Power Vessel Market Estimates & Forecast, By Component, 2018 - 2030 (USD Million)
5.3 Power Generation System
5.3.1 Floating LNG Power Vessel Market Estimates & Forecasts, By Power Generation System, 2018 - 2030 (USD Million)
5.4 Power Distribution System
5.41 Floating LNG Power Vessel Market Estimates & Forecasts, By Power Distribution System, 2018 - 2030 (USD Million)
Chapter 6 Floating LNG Power Vessel Market: Power Output Estimates & Trend Analysis
6.1 Component Movement Analysis & Market Share, 2022 & 2030
6.2 Floating LNG Power Vessel Market Estimates & Forecast, By Power Output, 2018 - 2030 (USD Million)
6.3 Small Scale (Up To 72 Mw)
6.3.1 Floating LNG Power Vessel Market Estimates & Forecasts, By Small Scale (Up To 72 Mw), 2018 - 2030 (USD Million)
6.4 Medium Scale (72 Mw -400 Mw)
6.4.1 Floating LNG Power Vessel Market Estimates & Forecasts, By Medium Scale (72 Mw -400 Mw), 2018 - 2030 (USD Million)
6.5 Large Scale (Above 400 Mw)
6.5.1 Floating LNG Power Vessel Market Estimates & Forecasts, By Large Scale (Above 400 Mw), 2018 - 2030 (USD Million)
Chapter 7 Floating LNG Power Vessel Market: Regional Estimates & Trend Analysis
7.1 Floating LNG Power Vessel Market: Regional Outlook
7.2 North America
7.2.1 North America Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.2.2 U.S.
7.2.2.1 U.S. Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.2.3 Canada
7.2.3.1 Canada Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.2.4 Mexico
7.2.4.1 Mexico Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.3 Europe
7.3.1 Europe Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.3.2 Germany
7.3.2.1 Germany Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.3.3 France
7.3.3.1 France Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.3.4 UK
7.3.4.1 UK Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.3.5 Italy
7.3.5.1 Italy Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.3.6 Spain
7.3.6.1 Spain Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.4 Asia Pacific
7.4.1 Asia Pacific Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.4.2 China
7.4.2.1 China Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.4.3 India
7.4.3.1 India Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.4.4 Japan
7.4.4.1 Japan Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.4.5 South Korea
7.4.5.1 South Korea Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.4.6 Southeast Asia
7.4.6.1 Southeast Asia Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.5 Central & South America
7.5.1 Central & South America Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.5.2 Brazil
7.5.2.1 Brazil Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.5.3 Argentina
7.5.3.1 Argentina Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.6 Middle East & Africa
7.6.1 Middle East & Africa Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.6.2 Saudi Arabia
7.6.2.1 Saudi Arabia Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
7.6.3 South Africa
7.6.3.1 South Africa Floating LNG Power Vessel Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 8 Floating LNG Power Vessel Market - Competitive Landscape
8.1 Recent Developments & Impact Analysis, By Key Market Participants
8.2 Vendor Landscape
8.2.1 Company Categorization
8.2.2 List Of Key Distributors & Channel Partners
8.2.3 List Of Key Potential Customers/end-users
8.3 Competitive Dynamics
8.3.1 Company Market Share & Positioning Analysis
8.3.2 Competitive Benchmarking
8.3.3 Strategy Mapping
8.3.3.1 Expansion
8.3.3.2 Collaboration
8.3.3.3 New Product Launches
8.3.3.4 Acquisition
8.3.4 Heat Map Analysis
8.4 Participant’s Overview
8.5 Financial Performance
8.6 Product Benchmarking