#Floating Liquefied Natural Gas Market Size

[businessindustry]

Liquefied Natural Gas (LNG) Liquefaction Equipment Market Analysis & Forecasts 2024-2032

The Reports and Insights, a leading market research company, has recently releases report titled “Liquefied Natural Gas (LNG) Liquefaction Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Liquefied Natural Gas (LNG) Liquefaction Equipment Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Liquefied Natural Gas (LNG) Liquefaction Equipment Market?

The Liquefied Natural Gas (LNG) liquefaction equipment market size reached US$ 811.2 Million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,226.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.

What are Liquefied Natural Gas (LNG) Liquefaction Equipment?                                                                                                                                                                            

Liquefied Natural Gas (LNG) liquefaction equipment is utilized to convert natural gas into its liquid state for more convenient transportation and storage. This process involves lowering the temperature of the gas to -162 degrees Celsius, causing it to condense into a clear, colorless, and non-toxic liquid. The primary components of LNG liquefaction equipment include compressors, heat exchangers, and cryogenic storage tanks. Compressors elevate the gas pressure before it enters the heat exchangers, where it is cooled using refrigerants. Once cooled, the gas is stored in cryogenic tanks until it is ready for shipment. This equipment is engineered to function efficiently under extremely low temperatures and high pressures, ensuring the safe and dependable production of LNG.

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What are the growth prospects and trends in the Liquefied Natural Gas (LNG) Liquefaction Equipment industry?

The liquefied natural gas (LNG) liquefaction equipment market growth is driven by various factors. The market for Liquefied Natural Gas (LNG) liquefaction equipment is experiencing notable expansion due to the increasing global demand for natural gas as a cleaner energy alternative. This growth is marked by the continual development of more advanced and efficient liquefaction technologies to meet the rising need for LNG. Key drivers include the ongoing expansion of LNG infrastructure, particularly in emerging markets, and the growing adoption of LNG as a fuel in various industries including transportation. Moreover, innovations in liquefaction equipment design, such as modular and space-saving units, are improving operational efficiency and reducing upfront costs. However, challenges such as high initial investments and stringent regulatory standards may pose obstacles to market growth. Hence, all these factors contribute to liquefied natural gas (LNG) liquefaction equipment market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Equipment Type:

Liquefaction Units

Heat Exchangers

Compressors

Storage Tanks

Pumps

Others

By Capacity:

Small-Scale (<0.5 MTPA)

Mid-Scale (0.5-2 MTPA)

Large-Scale (>2 MTPA)

By Process Cycle:

Cascade Process

Mixed Refrigerant Process

Shell-And-Tube Process

Others

By Technology:

Conventional LNG Liquefaction

Floating LNG Liquefaction

Modular LNG Liquefaction

By End-Use Industry:

Power Generation

Transportation

Industrial

Residential & Commercial

By Application:

Export/Import Terminals

Bunkering Facilities

Peak Shaving Plants

Distributed LNG Production Units

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Who are the key players operating in the industry?

The report covers the major market players including:

Air Products and Chemicals, Inc.

Linde plc

TechnipFMC plc

Siemens Energy AG

Chart Industries, Inc.

Mitsubishi Heavy Industries, Ltd.

General Electric Company

Bechtel Corporation

McDermott International, Inc.

Baker Hughes Company

Chiyoda Corporation

Saipem S.p.A.

JGC Corporation

Samsung Engineering Co., Ltd.

KBR, Inc.

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[globalinsightsservices]

LNG Infrastructure Market Projected to be Resilient During 2024-2034

Market Definition

LNG Infrastructure is a term used to refer to the physical infrastructure required to store and transport Liquefied Natural Gas (LNG). This infrastructure includes natural gas processing and storage facilities, as well as pipelines, terminals, and regasification plants.

LNG is a form of natural gas that has been cooled to a liquid state at a very low temperature (approximately -260°F). This process reduces the volume of the gas by up to 600 times, making it much easier to store and transport. Because of this, it is an increasingly popular fuel source for a variety of applications, including electricity generation, and transportation.

Market Outlook

The global demand for liquefied natural gas (LNG) is increasing rapidly, driven by the growth of the natural gas industry and the need for clean energy sources. This has led to significant investment in LNG infrastructure technology, as companies strive to maximize efficiency and reduce costs.

One of the key trends in LNG infrastructure technology is the development of floating storage and regasification units (FSRUs). FSRUs are specialized vessels that can store large volumes of liquid natural gas, while also being equipped to regasify it on-site. This allows for the rapid deployment of LNG to areas that do not have existing infrastructure. FSRUs are becoming increasingly popular due to their flexibility and cost-effectiveness, and are expected to play a major role in the future of the global LNG industry.

Another major trend is the development of small-scale LNG infrastructure. Small-scale LNG infrastructure is designed to meet the needs of smaller, regional markets, and can be used to supply energy to remote locations or to power specialized equipment. Small-scale LNG infrastructure is often more cost-effective than large-scale infrastructure, and allows for greater flexibility in terms of delivery and storage.

The global LNG infrastructure market is driven by various factors. These factors include the increasing demand for natural gas, the rise in the need for energy security, government policies and regulations, technological advancements, and the growing use of LNG as a transportation fuel.

The increasing demand for natural gas is one of the major drivers of the LNG infrastructure market. Natural gas is a clean and efficient fuel for power generation and industrial applications. It is also used to produce chemicals, fertilizers, and other products. The demand for natural gas has been increasing due to its low cost, its availability in large quantities, and its low environmental impact. This has led to the growth in the demand for LNG infrastructure.

The need for energy security is another major driver of the LNG infrastructure market. Natural gas is a secure source of energy, as it is not subject to the same volatility as other fuels, such as oil. LNG is also a viable alternative to crude oil, and its use can help to reduce energy dependence on foreign sources. This has led to increased investments in LNG infrastructure, as governments and companies seek to diversify their energy sources.

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Research Objectives

• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region • Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling • Identify factors influencing market growth and challenges, opportunities, drivers and restraints • Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates • Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities • Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market • To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements. • Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Market Segmentation

The LNG infrastructure market is segmented by transportation infrastructure, end-use, LNG distribution network, and region. By transportation infrastructure, the market is divided into LNG carriers, LNG bunkering vessels, and LNG ISO containers. By end-use, the market is bifurcated into power generation, industrial, transportation fule. By LNG distribution network, the market is divided into LNG receiving terminals, LNG satillite stations, virtual pipelines and others. By region, the market is classified into North America, Europe, Asia-Pacific, and rest of the world.

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Major Players

The global   LNG infrastructure market report includes players such as Cheniere Energy, Inc. – USA, Royal Dutch Shell plc – Netherlands/UK, Qatar Petroleum – Qatar, ExxonMobil Corporation – USA, TotalEnergies – France, Chevron Corporation – USA, Petronas – Malaysia, BP plc – UK, Eni S.p.A. – Italy, and GAIL (India) Limited – India

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Research Scope

• Scope – Highlights, Trends, Insights. Attractiveness, Forecast • Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others • Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain • Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments • Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis • Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis

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[jayanthitbrc]

Global Offshore Mooring Systems Market Analysis 2024 – Estimated Market Size And Key Drivers

The Offshore Mooring Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Offshore Mooring Systems Market: https://www.thebusinessresearchcompany.com/report/offshore-mooring-systems-global-market-report

According to The Business Research Company’s Offshore Mooring Systems Global Market Report 2024, The offshore mooring systems market size has grown steadily in recent years. It will grow from $1.72 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to deepwater exploration and production, rise in offshore wind energy projects, increase in floating production systems, focus on safety and environmental protection, government initiatives for offshore development, globalization of offshore exploration, rapid development of offshore infrastructure..

The offshore mooring systems market size is expected to see steady growth in the next few years. It will grow to $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to emergence of floating solar farms, focus on reducing carbon footprint, enhanced monitoring and control systems, focus on predictive maintenance, floating production storage and offloading (fpso) dominance, expansion of floating lng facilities.. Major trends in the forecast period include technological advancements in mooring designs, dynamic positioning systems, advancements in offshore drilling technologies, pre-laid mooring systems, integration of automation and robotics, strategic partnerships and collaborations..

The escalating demand for energy is expected to propel the offshore mooring systems market growth going forward. Energy refers to the electricity and power that is generated by using natural resources. Offshore mooring systems are used in the floating wind systems for efficient extraction of energy by facilitating and maximizing energy production and transmission of power using cables and umbilical, as a result, escalating demand for energy increases the demand for offshore mooring systems. For instance, in 2021, According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, the global energy demand is expected to increase by 47% in 2050. Therefore, the escalating demand for energy is driving the growth of the offshore mooring systems market.

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The offshore mooring systems market covered in this report is segmented –

1) By Type: Single Point Mooring, Taut Leg System, Semi-taut Leg System, Spread Mooring, Dynamic Positioning, Other Types 2) By Anchorage: Suction Anchors, Vertical Load Anchors, Drag Embedment Anchors, Other Anchors 3) By Depth of Operation: Shallow Water, Deepwater 4) By Application: Floating Production Storage and Offloading (FPSO), Floating Liquefied Natural Gas (FLNG), SPAR Platform, Tension Leg Platform (TLP), Semi-Submersible Platforms, Other Applications

Technological developments are a key trend gaining popularity in the offshore mooring systems market. Major companies operating in the offshore mooring systems market are focused on developing new technological solutions to strengthen their market position. For instance, in September 2021, Imenco AS, a Norway-based engineering company engaged in various subsea projects, launched 'Pacu', its innovative and transformational cathodic protection technology for mooring systems used in floating wind platforms or offshore aquaculture installations. Pacu is designed to be attached to the mooring chains to extend their lifespan by slowing down the rate of corrosion reducing the risk of mooring system failures to provide a cost-effective solution that can be retrofitted to existing chains. As a result, operations require less handling, shipping, and installation equipment, which lowers their overall carbon footprint. Additionally, numerous maritime sectors, such as offshore wind, as well as the oil and gas sector, including near-shore moorings and permanently anchored offshore buildings, can use Pacu.

The offshore mooring systems market report table of contents includes:

Executive Summary

Market Characteristics

Market Trends And Strategies

Impact Of COVID-19

Market Size And Growth

Segmentation

Regional And Country Analysis . . .

Competitive Landscape And Company Profiles

Key Mergers And Acquisitions

Future Outlook and Potential Analysis

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[bharat059]

Offshore Mooring Systems Market Size, Share And Global Trend By Type (Single Point Mooring, Taut Leg System, Semi-taut Leg System), By Anchorage (Suction Anchors,Vertical Load Anchors, Drag Embedment Anchors), By Depth Of Operation (Shallow Water, Deepwater), By Application (Floating Production Storage and Offloading,Floating Liquefied Natural Gas, Semi-Submersible Platforms), And Geography Forecast Till 2022-2029

[johnblogs786]

The Dynamics of the Oil and Gas Liquids Storage Market: Trends and Challenges

The oil and gas industry plays a pivotal role in global energy supply, and the storage of its essential products, namely oil and gas liquids, is of utmost importance. These products, ranging from crude oil to refined petroleum products, provide the energy foundation for various sectors, including transportation, manufacturing, and heating. The oil and gas liquids storage market, characterized by its complexity, size, and criticality, is subject to ever-evolving trends and challenges that influence supply, demand, and pricing dynamics. In this article, we delve into the current state of the oil and gas liquids storage market, exploring key trends and challenges that shape its landscape.

Market Trends

Global Demand and Supply Dynamics: The oil and gas liquids storage market is closely intertwined with shifts in global demand and supply. Fluctuations in energy consumption patterns, geopolitical tensions, and economic growth significantly impact storage requirements. For instance, periods of economic expansion often result in increased energy consumption, thereby driving the need for additional storage capacities.

Strategic Reserve Investments: Governments of many countries maintain strategic petroleum reserves (SPRs) as a buffer against supply disruptions. These reserves are a significant driver of demand in the oil and gas liquids storage market. Recent geopolitical uncertainties and concerns over energy security have led several nations to expand their SPR capacities.

Floating Storage and Offshore Terminals: The rise of floating storage options and offshore terminals has added a new dimension to the oil and gas liquids storage market. Floating storage units (FSUs) and floating production storage and offloading (FPSO) vessels enable companies to store products at sea, offering flexibility and cost savings during periods of oversupply or constrained onshore storage capacities.

Market Diversification: Players in the oil and gas liquids storage market are diversifying their offerings beyond traditional crude oil storage. This includes storage for various refined petroleum products, liquefied natural gas (LNG), and petrochemicals. As the energy landscape evolves, storage providers must adapt to changing demands and requirements.

Challenges Facing the Market

Environmental and Regulatory Pressures: Increased environmental awareness and stringent regulations are shaping the way storage facilities operate. Storage companies are under pressure to reduce emissions, improve safety measures, and enhance spill prevention and response capabilities. Meeting these demands while maintaining operational efficiency poses a considerable challenge.

Investment Uncertainty: The oil and gas industry is capital-intensive, and investing in storage infrastructure requires long-term planning. However, the industry is also grappling with the growing influence of renewable energy sources and efforts to decarbonize. This uncertainty can make it challenging for companies to commit to substantial investments in traditional storage facilities.

For more regional insights on the liquid storage industry capacity and CapEx market, download a free sample report

[electronalytics]

FLNG Market Challenges, Analysis and Forecast to 2032

The Floating Liquefied Natural Gas (FLNG) market refers to the industry involved in the production, storage, and transportation of natural gas using floating liquefaction facilities. FLNG is a relatively new technology that enables the production of liquefied natural gas (LNG) directly at offshore gas fields, eliminating the need for onshore facilities.

Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Floating LNG estimated at USD 10140 million in the year 2023, is projected to reach a revised size of USD 12970 million by 2030, growing at a CAGR of 4.2% during the forecast period 2023-2030

 Some key points about the FLNG market:

Market Growth: The FLNG market has witnessed significant growth in recent years. Several FLNG projects have been announced or are under development worldwide, especially in regions with offshore gas reserves, such as Australia, Southeast Asia, and Africa. This growth is expected to continue as countries seek to monetize their offshore gas resources.

Advantages of FLNG: FLNG offers several advantages over traditional onshore LNG facilities. It allows for the development of remote offshore gas fields that would otherwise be uneconomical to develop. FLNG also provides flexibility in terms of deployment and relocation, as the facility can be moved to different locations as per the gas field requirements.

Project Developments: Notable FLNG projects include Shell's Prelude FLNG, located offshore Australia, which is the largest FLNG facility in operation. Other significant projects include Coral FLNG in Mozambique and Abadi FLNG in Indonesia. These projects represent significant investments and showcase the potential of FLNG technology.

Market Challenges: While the FLNG market has promising prospects, it also faces challenges. The high capital costs associated with FLNG projects and the technical complexities of operating in offshore environments are some of the key challenges. Additionally, market dynamics, such as fluctuating LNG prices and regulatory uncertainties, can impact the viability of FLNG projects.

Future Outlook: The FLNG market is expected to continue growing in the coming years, driven by increasing demand for natural gas, particularly in emerging economies. As technological advancements continue and more FLNG projects become operational, the market is likely to witness further expansion and consolidation.

It's important to note that the FLNG market is subject to various market forces, geopolitical factors, and energy policies that can influence its growth and development. Therefore, it's advisable to consult up-to-date sources and industry reports for the most current and accurate information on the FLNG market.

We recommend referring our Stringent datalytics firm, industry publications, and websites that specialize in providing market reports. These sources often offer comprehensive analysis, market trends, growth forecasts, competitive landscape, and other valuable insights into this market.

By visiting our website or contacting us directly, you can explore the availability of specific reports related to this market. These reports often require a purchase or subscription, but we provide comprehensive and in-depth information that can be valuable for businesses, investors, and individuals interested in this market.

“Remember to look for recent reports to ensure you have the most current and relevant information.”

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Market Segmentations:

Global FLNG Market: By Company • Golar LNG • Hoegh LNG • Excelerate Energy • Exmar • Eni • Ophir Energy • Mitsui O.S.K • Lines • Royal Dutch Shell • Petronas • Noble Energy • Woodside Petroleum • Samsung Heavy Industries • DSME and Associates • Hyundai Heavy Industries • Mitsubishi Heavy Industries Global FLNG Market: By Type • LNG FPSO • FSRU Global FLNG Market: By Application • Residential • Commercial • Industrial Global FLNG Market: Regional Analysis All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global FLNG market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Reasons to Purchase FLNG Market Report:

• To obtain insights into industry trends and dynamics, including market size, growth rates, and important factors and difficulties. This study offers insightful information on these topics.

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• To comprehend consumer behaviour: these research studies can offer insightful information about customer behaviour, including preferences, spending patterns, and demographics.

• To assess market opportunities: These research studies can aid companies in assessing market chances, such as prospective new goods or services, fresh markets, and new trends.

• To make well-informed business decisions: These research reports give companies data-driven insights that they may use to plan their strategy, develop new products, and devise marketing and advertising plans.

In general, market research studies offer companies and organisations useful data that can aid in making decisions and maintaining competitiveness in their industry. They can offer a strong basis for decision-making, strategy formulation, and company planning.

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[ritukhatri]

Floating Liquefied Natural Gas Market to grow by USD 20.69 billion during 2020-2024

The floating liquefied natural gas market size has the potential to grow by USD 20.69 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

Get Sample of the Report: https://www.technavio.com/report/floating-liquefied-natural-gas-market-industry-analysis

This report provides a detailed analysis of the market by processing capacity (large-scale capacity and small-scale capacity) and geography (North America, MEA, APAC, Europe, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Black & Veatch Holding Co., Eni Spa, Excelerate Energy LP, EXMAR NV, Golar LNG Ltd., Lloyds Energy DMCC, Petroliam Nasional Berhad, Royal Dutch Shell Plc, Samsung Heavy Industries Co. Ltd., and TechnipFMC Plc.

The market is fragmented and will witness a minuscule inclination towards concentration in the next few years. Black & Veatch Holding Co., Eni Spa, and Excelerate Energy LP are some of the major market participants. Although the rising global oil and gas consumption will offer immense growth opportunities, the fluctuations in oil and gas prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this floating liquefied natural gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this floating liquefied natural gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

Black & Veatch Holding Co.

Eni Spa

Excelerate Energy LP

EXMAR NV

Golar LNG Ltd.

Lloyds Energy DMCC

Petroliam Nasional Berhad

Royal Dutch Shell Plc

Samsung Heavy Industries Co. Ltd.

TechnipFMC Plc

North America was the largest floating liquefied natural gas market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the presence of leading vehicle manufacturers will significantly drive floating liquefied natural gas market growth in this region over the forecast period.

42% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for floating liquefied natural gas in North America. Market growth in this region will be faster than the growth of the market in other regions.

How Will Rising Oil and Gas Consumption Influence Floating Liquefied Natural Gas Market Growth?

The rise in global oil and gas consumption is one of the major factors driving FLNG market growth. According to the US Energy Information Administration, the consumption of liquid fuel has increased significantly in the last few years. The global liquid fuel consumption was almost 90 MBPD in 2011 and is expected to reach 101.1 by 2021. Global liquefied natural gas fuel consumption increased at an annual rate during 2011-2019, and it is estimated to grow further. Most of the oil-producing countries do not have large additional capacities. Therefore, they need to discover greenfield oil wells in the existing and new oil fields to meet the high demand for fuel. Also, with the increased consumption of fuel from the developing economies such as India and China, the demand for LNG is likely to propel during the forecast period, thereby increasing the demand for FLNG projects during the forecast period.

The increasing use of natural gas in the transportation sector is one of the key FLNG market trends that will further stimulate market growth. The transportation sector is a significant contributor to the rise in global air pollution. Emissions from air, road, and water transport result in climate change and declining air quality in urban cities. This is inducing several governments to focus on introducing natural gas vehicles as they are eco-friendly and help in the decarbonization of the transport sector. The growth in demand for natural gas as a fuel will boost the FLNG market growth. The FLNG market will register a CAGR of over 19% during the forecast period.

[techsciresearch]

Turkey Floating Storage Regasification Unit Market 2027

High demand for low carbon emission transportation modes and a rise in global LNG trade are expected to drive the demand for Turkey floating storage regasification unit market through the forecast period, 2023-2027.

According to TechSci Research report, “Turkey Floating Storage Regasification Unit Market By Region, Competition Forecast & Opportunities, 2027”, the Turkey floating storage regasification unit market is expected to witness a growth of steady CAGR in the forecast period, 2023-2027. A floating storage regasification unit is a special kind of ship used while transiting and transferring liquified natural gas through the oceanic channels. LNG is a viable and environment-friendly fuel component. Still, transportation of the LNG requires extra attention as any slight mistake can result in huge financial loss, damage to the ocean ecosystem, and maybe loss of lives. The LNG fuel is transported in a semi-cooled slushy state of -160 ͦ to the destinations and requires to be heated to bring back into its original gaseous state. The reheating process is performed before the gas is pumped into its storage systems. The process of transportation of LNG comprises both freezing and reheat processes as it is highly expensive and time-consuming, which creates the demand for floating storage regasification units. A floating storage regasification unit is the fastest means to capitalize on low gas prices. Its high demand across various industries such as power generation and transportation is primarily driving the Turkey floating storage regasification unit market demand.

However, high production and installation costs and low storage capacity to store large quantities of LNG may restrain the Turkey floating storage regasification unit market growth in the forecast period.

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Turkey floating storage regasification unit market is segmented into construction, storage, application, capacity, design, regional distribution, and competitive landscape.

Based on storage, the market is divided into small, medium, and large. The medium segment is expected to capture the highest market share in the forecast period. The demand for medium-sized floating storage regasification units is stable across the country, and the majority of the deployed floating storage regasification unit are of medium size.

Based on application, the market is divided into industrial, power generation, and others. The power generation is currently dominating the market and is expected to maintain its dominance over the next five years. The power generation industry requires vast amounts of liquefied natural gas in large quantities, which fuels the demand for floating storage regasification units across the country.

Based on capacity, the market is divided into up to 140,000 m3, 140,000 to 180,000 m3, and above 180,000 m3. The 140,000 to 180,000 m3 storage capacity floating storage regasification units are expected to hold significant market share in the forecast period. The majority of the vessels converted to LNG carriers with storage capacity belong to this range.

Based on the design, the market is divided into barge-based and carrier vessel-based. The carrier vessel-based are expected to hold the largest market share, while the barge-based designs are expected to witness the fastest incremental growth in the next five years. Barge-based vessels are beneficial in spaces where small-scale LNG import is required. These vessels are expected to benefit from expansion plans of existing floating storage & regasification unit terminals.

Major market players operating in the Turkey floating storage regasification unit market are:

Excelerate Energy

Hoegh LNG

Golar LNG

BW Gas

Gazprom

Flex LNG

EXMAR

Maran Gas Maritime

Teekay LNG

Bumi Armada

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“Market players are advised to focus on technological advancements to increase the storage capacity and performance of floating storage regasification units. The advent of cloud-based solutions that can provide marine engineers training in a simulated environment is expected to act as a positive factor for the floating storage regasification market. Market players are trying to digitize several operations, including cargo loading and unloading and terminal operations. The high domestic energy demand is increasing the need to import LNG from other countries, and ongoing technological advancements are expected to propel the growth of Turkey floating storage regasification unit market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.

“Turkey Floating Storage Regasification Unit Market By Construction (Newly Built, Converted), By Storage (Small, Medium, Large), By Application (Industrial, Power Generation, Others), By Capacity (Up to 140,000 m3, 140,000 to 180,000 m3 and Above 180,000 m3), By Design (Barge-Based, Carrier Vessel-Based), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Turkey floating storage regasification unit market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Turkey floating storage regasification unit market.

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[businessindustry]

Liquefied Natural Gas (LNG) Liquefaction Equipment Market Analysis & Forecasts 2024-2032

The Reports and Insights, a leading market research company, has recently releases report titled “Liquefied Natural Gas (LNG) Liquefaction Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Liquefied Natural Gas (LNG) Liquefaction Equipment Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Liquefied Natural Gas (LNG) Liquefaction Equipment Market?

The Liquefied Natural Gas (LNG) liquefaction equipment market size reached US$ 811.2 Million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,226.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.

What are Liquefied Natural Gas (LNG) Liquefaction Equipment?                                                                                                                                                                            

Liquefied Natural Gas (LNG) liquefaction equipment is utilized to convert natural gas into its liquid state for more convenient transportation and storage. This process involves lowering the temperature of the gas to -162 degrees Celsius, causing it to condense into a clear, colorless, and non-toxic liquid. The primary components of LNG liquefaction equipment include compressors, heat exchangers, and cryogenic storage tanks. Compressors elevate the gas pressure before it enters the heat exchangers, where it is cooled using refrigerants. Once cooled, the gas is stored in cryogenic tanks until it is ready for shipment. This equipment is engineered to function efficiently under extremely low temperatures and high pressures, ensuring the safe and dependable production of LNG.

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What are the growth prospects and trends in the Liquefied Natural Gas (LNG) Liquefaction Equipment industry?

The liquefied natural gas (LNG) liquefaction equipment market growth is driven by various factors. The market for Liquefied Natural Gas (LNG) liquefaction equipment is experiencing notable expansion due to the increasing global demand for natural gas as a cleaner energy alternative. This growth is marked by the continual development of more advanced and efficient liquefaction technologies to meet the rising need for LNG. Key drivers include the ongoing expansion of LNG infrastructure, particularly in emerging markets, and the growing adoption of LNG as a fuel in various industries including transportation. Moreover, innovations in liquefaction equipment design, such as modular and space-saving units, are improving operational efficiency and reducing upfront costs. However, challenges such as high initial investments and stringent regulatory standards may pose obstacles to market growth. Hence, all these factors contribute to liquefied natural gas (LNG) liquefaction equipment market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Equipment Type:

Liquefaction Units

Heat Exchangers

Compressors

Storage Tanks

Pumps

Others

By Capacity:

Small-Scale (<0.5 MTPA)

Mid-Scale (0.5-2 MTPA)

Large-Scale (>2 MTPA)

By Process Cycle:

Cascade Process

Mixed Refrigerant Process

Shell-And-Tube Process

Others

By Technology:

Conventional LNG Liquefaction

Floating LNG Liquefaction

Modular LNG Liquefaction

By End-Use Industry:

Power Generation

Transportation

Industrial

Residential & Commercial

By Application:

Export/Import Terminals

Bunkering Facilities

Peak Shaving Plants

Distributed LNG Production Units

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Who are the key players operating in the industry?

The report covers the major market players including:

Air Products and Chemicals, Inc.

Linde plc

TechnipFMC plc

Siemens Energy AG

Chart Industries, Inc.

Mitsubishi Heavy Industries, Ltd.

General Electric Company

Bechtel Corporation

McDermott International, Inc.

Baker Hughes Company

Chiyoda Corporation

Saipem S.p.A.

JGC Corporation

Samsung Engineering Co., Ltd.

KBR, Inc.

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[thetejasamale]

Floating Storage and Regasification Unit Market Size | Future industry Trends, & Potential of Industry by 2020-2030

The FSRU market Size is projected to develop at a healthy 13.88% CAGR between 2022- 2030, as per the current Market Research Future (MRFR) analysis. A floating storage regasification unit or FSRU, simply put, is a key component needed during transit and transfer of liquefied natural gas (LNG) via oceanic channels. In short, it is a special form of ship used to transfer LNG. It has wide applications in power generation, industrial, and others.

Various factors are fuelling the demand for the FSRU market. Such factors, as revealed by the new MRFR analysis, include growing production of natural gas, shale gas revolution, consequently falling prices, rising LNG import demand from automotive sectors and power plant, and increasing LNG trade worldwide. Additional factors adding market growth include changing consumers demand, consumers rising disposable income, changing product preference, and existing trends.

On the contrary, issues with storage capacity and the ongoing COVID-19 pandemic may limit the global FSRU market growth over the forecast period.

Key Players

Key contenders profiled in the global FSRU market report include L.P. (Bermuda), Teekay Lng Partners, Bumi Armada (Malaysia), Mitsui O.S.K. Lines (Japan), Offshore LNG Toscana SpA (Italy), Maran Gas Maritime Inc. (Greece), Exmar (Belgium), Gazprom FLEX LNG (U.K), BW gas (Norway), Golar LNG (Bermuda), Hoegh LNG (Bermuda), and Excelerate Energy (U.S). Industry players have incorporated strategies such as mergers and agreements, joint ventures and collaborations, partnerships, geographic expansions, strategic alliances, and others to stay at the forefront.

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Market Segmentation

The FSRU market is bifurcated on the basis of construction, storage, and application.

By construction, the global FSRU market is segmented into converted and newly built.

By storage, the FSRU market is segmented into large, medium, and small FSRU.

By application, the FSRU market is segmented into power generation, industrial, and others.

Regional Analysis

Based on region, the global FSRU market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, & the Middle East and Africa (MEA). Of these, the APAC region will have the lions share in the market over the forecast period. Rising gas to power conversion unit, encouraging the usage of natural gas on large levels, is adding to the global FSRU market growth in the region.

The global FSRU market in North America is predicted to have sound growth over the forecast period. The tremendous growth in export, new upcoming liquefaction projects, high involvement in LNG production, possessing operational, technical, and logistics capabilities, are adding to the global FSRU market growth in the region.

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In Europe, the FSRU (Floating Storage and Regasification Unit) market is predicted to have moderate growth over the forecast period for the limited deployment of FSRU across the region.

The global FSRU market in the MEA is predicted to have sound growth over the forecast period at a healthy CAGR. Presence of maximum FSRU worldwide and the presence of reserves that fulfil the demand for LNG across the globe are adding to the global FSRU market growth in the region.

[marryp]

Global Floating LNG Systems Market Size, Share, Global Future Trend, Segmentation, Business Growth, Top Key Players, Opportunities and Forecast to 2027

Floating LNG Systems | Market Detailed Study 2020-2027

How The Floating LNG Systems Market Will Behave?

A research report on the Floating LNG Systems Market 2020 Industry Research Report” is being published by Research Allied. This is a key document as far as the clients and industries are concerned to not only understand the competitive market status that exists currently but also what future holds for it in the upcoming period, i.e., between 2020 and 2027. It has taken the previous market status of 2013 – 2018 to project the future status. The report has categorized in terms of region, type, key industries, and application. Major Geographical Regions The study report on Global Floating LNG Systems Market 2020 would cover every big geographical, as well as, sub-regions throughout the world. The report has focused on market size, value, product sales and opportunities for growth in these regions. The market study has analyzed the competitive trend apart from offering valuable insights to clients and industries. These data will undoubtedly help them to plan their strategy so that they could not only expand but also penetrate into a market.

Asia-Pacific region is expected to dominate the market over the forecast period owing to the increasing focus on the research, development, and manufacturing of Floating LNG Systems in countries including China, Japan, India, and South Korea.

A sample of report copy could be downloaded by visiting the site: https://www.researchallied.com/request-sample/5657-floating-lng-systems-market The researchers have analyzed the competitive advantages of those involved in the industries or in the Floating LNG Systems industry. While historical years were taken as 2013 – 2018, the base year for the study was 2018. Similarly, the report has given its projection for the year 2020 apart from the outlook for years 2020 – 2027. Top Leading Companies and Type Like any other research material, the report has covered key geographical regions such as Europe, Japan, United States, India, Southeast Asia and Europe. Researchers have given their opinion or insights of value, product sales, and industry share besides availability opportunities to expand in those regions. As far as the sub-regions, North America, Canada, Medico, Australia, Asia-Pacific, India, South Korea, China, Singapore, Indonesia, Japan, Rest of Asia-Pacific, Germany, United Kingdom, France, Spain, Italy, Rest of Europe, Russia, Central & South America, Middle East & Africa are included. Major players in the report included are Excelerate Energy, Golar LNG, Hoegh LNG, Royal Dutch Shell, Samsung Heavy Industries, PETRONAS, Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries. Types covered in the Floating LNG Systems industry are Liquefied Natural Gas Floating Production Storage and Offloading Vessel, Liquefied Natural Gas Floating Storage and Regasification Units, Others. Applications covered in the report are Deep Water Field, Marginal Field, Early ProductionAll Marine Field. Geographical Scope of this report includes: Report Aims The objective of the researchers is to find out the sales, value, and status of the Floating LNG Systems industry at the international levels. While the status covers the years of 2013 – 2018, the forecast is for the period 2020 – 2027 that will enable market players to not only plan but also execute strategies based on the market needs.

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Floating LNG Systems Market

The study wanted to focus on key manufacturers, competitive landscape, and SWOT analysis for the Floating LNG Systems industry. Apart from looking into the geographical regions, the report concentrated on key trends and segments that are either driving or preventing the growth of the industry. Researchers have also focused on individual growth trends besides their contribution to the overall market. Target Audience of the Global Floating LNG Systems Market in Market Study: Key Consulting Companies & Advisers Large, medium-sized, and small enterprises Venture capitalists Value-Added Re-sellers (VARs) Third-party knowledge providers Investment bankers Investors Buy Full Copy Global Floating LNG Systems Report 2020-2027 @ https://www.researchallied.com/placeorder?report=5657-floating-lng-systems-market&type=su ** The market is evaluated based on the weighted average selling price (WASP) and includes the taxes applicable to the manufacturer. All currency conversions used in the creation of this report were calculated using a certain annual average rate of 2020 currency conversion. Crucial points encompassed in the report: In the end, Floating LNG Systems Market Report delivers a conclusion that includes Breakdown and Data Triangulation, Consumer Needs/Customer Preference Change, Research Findings, Market Size Estimation, Data Source. These factors will increase the business overall. Major queries related Global Floating LNG Systems Market with covid-19 effect resolves in the report: 1. How market players are performing in this covid-19 event? 2. How the pricing of essential raw material and related market affects Floating LNG Systems market. 3. Is covid-19 pandemic already affected on projected region or what will be the maximum impact of covid-19 in region? 4. What will be the CAGR growth of the Floating LNG Systems market during the forecast period? 5. In 2027 what will be the estimated value of Floating LNG Systems market? About Us We are a market research and consulting service provider which is supported by numerous groups of people having extensive experience in their respective domains. We have collaboration with the industry’s leading research providers who works continuously to meet the ever-growing demand for market research throughout the year. Having people from various industries in our team and extensive experience in market research enables our people to address, understand, and offer exact solutions to our clients and satisfy their needs and demands. We understand the value of data and authenticity and how any business needs to grow, thus we have collaborated with several brands and outsourcing companies who are a click ready to identify the gaps between any solution which is offered to you and lacks any insight. Contact: Research Allied Mangalam Chamber, Office No – 16, Paud Road Sankalp Society, Kothrud, Pune, Maharashtra 411038 Phone: +1 650-646-3808 Email: sales@researchallied.com Website: https://www.researchallied.com

[fastengineering]

FIND YOUR STORAGE TANKS FOR OIL AND PETROLEUM

If you are into the storage of oil, petroleum and diesel then you must know the importance of storage tanks which serve as a staging area to collect crude oil in several stages of production and hold the oil until it is delivered to tankers or into a pipeline.

Petroleum and Oil storage tanks are available in various types, materials, shapes and sizes are used from the initial production of crude oil, to the refining and distribution of various petroleum oil products. Over the years, various types of oil storage tanks have been developed such as Floating Roof Tank, Fixed Roof Tank, Open Top Tank, Bunded Tank, made from various materials such as  plastic, reinforced concrete, stainless steel, carbon steel, or even carved on mostly impermeable rock salt deposits for underground oil storage

The tanks that are used to store chemicals are made in such a way by which there will be no reaction while storing the chemicals for a longer period of time. These tanks are commonly used for storing methanol, propane, fertilisers, sodium hydroxide, petroleum products, crude oil, liquefied natural gas, and other chemicals and also for some other purposes such as processing, static storage, mixing.

Fast Engineers & Fabricators service provides various types of industrial tanks that are provided by Industrial chemical storage tanks:

Industrial oil storage tanks:

Petroleum and  oil storage tanks used in industries are made of different materials, different from plastics etc. They are made from materials  like reinforced concrete, stainless steel, plastic and carbon steel and are used as reservoirs that store oil temporarily during the processing phase before consumption.

Industrial fuel storage tanks:

It usually involves two types of storage tanks in the market - underground storage tanks and above ground storage tanks. These tanks are for storing organic and non-organic liquids and are also used to hold vapour, fluids and other chemical liquids.

Industrial plastic storage tanks:

As they are made from plastic they are not heavy by nature and can easily be carried and installed wherever you want to place it. Just like any other plastic products, they are highly durable in nature. These types of tanks are commonly used for transportation and to assist in irrigation and fertilisation systems. These are also used to store oil and gases in the industries.

Industrial gas storage tanks:

Just like oil and petroleum storage tanks, we also provide storage tanks for gases and they are built to store gases in a compressed way for a longer period of time.

Industrial hot water storage tanks:

In these types of tanks ,Heat insulation is installed so that energy consumption can go low. But modern water heaters are made of applied polyurethane foam so that they can be used to store extreme hot water to fulfil industrial requirements.

If you are looking for any type of storage tank , Peso Licence Consultant, Petroleum Storage, Fastengineers and  Fabricators service, then you can contact-  Fast Engineers & Fabricators .

For more information about: Fastengineers and  Fabricators service Please visit at https://fastengineers.in/

[avajones]

Offshore Mooring Systems Market Revenue Analysis, Company Revenue Share, Global Forecast Till 2028

Increasing oil and gas production, rising demand for energy globally, and rising purchasing power of consumers are key factors driving growth of market

Market Size – USD 1.93 Billion in 2020, Market Growth – at a CAGR of 4.1%, Market Trends – Increasing offshore oil and gas exploration and production activities

The global Offshore Mooring Systems Market size is expected to reach USD 2.66 Billion by 2028 and register a CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data. Rising demand for energy globally and maturity of a number of onshore gas and oilfields has resulted in increased offshore field exploration activities, which are major factors driving market revenue growth. Rapidly increasing global population and rising demand for energy are major factors expected to continue to drive market growth over the forecast period.

Mooring systems are composed of mooring lines, anchors, wires, and chains and provide anchorage to ships, floating vessels, and platforms over water. Rapid depletion of onshore oil and gas reserves has result in increasing investment in FLNG, FPSO, and SPAR among others for expanding offshore exploration activities. This is expected to fuel revenue growth of market over the forecast period. Mooring systems are primarily dependent on strength of anchors. Mooring lines or anchors attach the ship or floating structure to sea floor and is imperative in subsea production facilities. Increasing investment in Floating Liquefied Natural Gas (FLNG),  Floating Production Storage Offloading (FPSO), and Single Point Anchor Reservoir (SPAR) among others, for expanding offshore exploration activities has been increasing significantly due to rapid depletion of onshore oil and gas reserves. Increasing number of mature onshore oil and gas fields have also been boosting offshore exploration and production, and this is expected to fuel revenue growth of the market over the forecast period.

Major companies operating in the market include Offspring International, Mampaey Offshore Industries B.V., Single Point Mooring Systems, Rigzone Mooring Systems, ScanaIndustrier ASA, Delmar Systems, Inc., Sofec, Moorsure Mooring Systems Solutions Pty Ltd, and Blue Water Energy, among others.

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Some Key Highlights From the Report:

Spread mooring type segment is expected to register significant growth rate over the forecast period due to its use in any water depth, on vessels of different sizes, and in applications that necessitate high service life and quality. Growth can also be attributed to its increasing use in unidirectional environment on floating offshore platforms that can endure severe environmental factors.

FPSO segment is expected to account for largest revenue share in the global market over the forecast period. Growth can be attributed to several advantages of FPSOs such as storage, quick offloading, and high cost-efficiency as compared to other permanent platforms.

Vertical load anchors segment revenue is expected to expand considerably over the forecast period owing to their increased capability to withstand horizontal and vertical mooring forces. This characteristic is similar to DEA, but vertical load anchors penetrate deeper. These anchors are also used on most drillings rigs offshore and this is expected to drive segment growth over the forecast period.

Asia Pacific is expected to account for nearly 30% revenue share in the global market over the forecast period, attributable to increasing offshore exploration and production activities in South China Sea and rising demand for FPSOs from countries such as Australia, Indonesia, and China.

In March 2021, Jebb Smith Ltd. formed Oasis Marine Power as a subsidiary to build on company’s expertise in marine mooring systems. Oasis Marine Power is expected to launch Oasis Power Buoy, which is a mooring buoy with electric power supply to be installed at offshore wind farms.

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For the purpose of this report, Reports and Data has segmented the global offshore mooring systems market based on type, application, anchorage, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

Spread

SPM

Dynamic Positioning

Tendons

Application Outlook (Revenue, USD Billion; 2018-2028)

TLP

FPSO

Drill Ships

Semi-submersible

SPAR

Anchorage Outlook (Revenue, USD Billion; 2018-2028)

Drag Embedment Anchors

Suction Anchors

Vertical Load Anchors

Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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[ritukhatri]

Floating Liquefied Natural Gas Market Research and Growth 2024

The floating liquefied natural gas market size has the potential to grow by USD 20.69 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

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This report provides a detailed analysis of the market by processing capacity (large-scale capacity and small-scale capacity) and geography (North America, MEA, APAC, Europe, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Black & Veatch Holding Co., Eni Spa, Excelerate Energy LP, EXMAR NV, Golar LNG Ltd., Lloyds Energy DMCC, Petroliam Nasional Berhad, Royal Dutch Shell Plc, Samsung Heavy Industries Co. Ltd., and TechnipFMC Plc.

Who are the Major Floating Liquefied Natural Gas Vendors?

The market is fragmented and will witness a minuscule inclination towards concentration in the next few years. Black & Veatch Holding Co., Eni Spa, and Excelerate Energy LP are some of the major market participants. Although the rising global oil and gas consumption will offer immense growth opportunities, the fluctuations in oil and gas prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this floating liquefied natural gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this floating liquefied natural gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

What are the Key Factors Covered in this Floating Liquefied Natural Gas Market Report?

CAGR of the market during the forecast period 2020-2024

Detailed information on factors that will drive floating liquefied natural gas market growth during the next five years

Precise estimation of the floating liquefied natural gas market size and its contribution to the parent market

Accurate predictions on upcoming trends and changes in consumer behavior

The growth of the floating liquefied natural gas market industry across North America, MEA, APAC, Europe, and South America

A thorough analysis of the market’s competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of floating liquefied natural gas market vendors

[yash-tiknayat]

Storage Tank Market Research Report - Global Forecast till 2025

Market Highlights

A storage tank is designed for storing hazardous and non-hazardous products such as petroleum, chemical, and water. These storage tanks are available in various sizes and shapes to suit the requirements of multiple industries. For instance, floating roof, fixed roof, and dome-shaped storage tanks are used in the oil & gas and chemical industries. The growing construction of liquefied natural gas (LNG) terminals and gas pipelines and the rapid installation of underground storage tanks are likely to boost the growth of the global market during the forecast period.

The steady development and expansion of food and beverages, chemical, water, and oil & gas industries in countries such as China, Germany, Mexico, India, and Japan drive the global storage tank market. Furthermore, the rapid technological advancements and increasing use of storage tanks in the residential sector are expected to drive the market during the forecast period.  

Market Research Analysis

In terms of region, the global market for the storage tank is segmented into North America, Europe, Asia-Pacific, and the rest of the world. In 2018, Asia-Pacific held the largest share in the global storage tank market and is projected to register the highest growth rate over the forecast period. This can be attributed to increased manufacturing activities and growing disposable income across the region. However, Europe is expected to witness significant growth during the forecast period due to the increasing oil product trade activities and stock holding volumes and stringent government regulations in the region.

In North America, the presence of key manufacturers, such as Highland Tank & Manufacturing Company, Inc., T.F. Warren Group, and Fox Tank Company, in the US and Canada and the strong government support for the development and advancement of the industrial sector are some of the factors that are expected to drive the growth of the market.

The industrial development and the improving economic conditions in emerging countries in South America and the Middle East & Africa are set to drive the growth of this market during the forecast period. The storage tank manufacturers in North America and Asia-Pacific are focusing on expanding their operations in the Middle East & Africa and South America, which is also contributing to the growth of this market.

Scope of the Report

This study provides an overview of the global storage tank market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global storage tank market by installation type, product, material, industry vertical, and region.

By Installation Type

Aboveground Storage Tanks (AST)

Underground Storage Tanks (UST).

By Product

Hazardous

Non-Hazardous

By Material

Steel

Concrete

Polyethylene

Others

By Industry Vertical

Oil & Gas

Chemical

Water

Food & Beverage

Others

By Regions

North America

Asia-Pacific

Europe

Rest of the World  

Key Players

Key market players operating in the global storage tank market share are TOYO KANETSU K.K. (Japan), Ishii Iron Works Co., Ltd. (Japan), Pfaudler (US), MEKRO Sp. z o.o. (Poland), CST Industries (US), McDermott (US), PermianLide (US), Highland Tank & Manufacturing Company, Inc. (US), Fox Tank Company (US), T.F. Warren Group (Canada), and Superior Tank Co., Inc. (US).

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