London, 01 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Floating LNG Market 2015-2019, which is expected to grow at a CAGR of 15.2 percent during the period 2014-2019.
The growth of the market is primarily credited to the augmented demand for energy across the world and maturing onshore LNG resources. The development of this market is dependent on the cost effectiveness and availability of LNG for end-users. Countries worldwide are shifting their focus toward LNG as a cleaner fuel than coal.
The market for floating LNG facilities is expected to expand because of the advances in production technology and the worldwide presence of more gas reserves offshore, which will ultimately help in the implementation of floating LNG terminals worldwide.
“The market is currently fragmented with a large number of market vendors seeking the opportunity to enter the market,” says Faisal Ghaus, Vice President of TechNavio.
“Also, the small and medium-sized industries have started leasing their floating LNG vessels, which is proving to be an efficient financing opportunity.”
Key Market Drivers
- Growing Offshore Field Developments
- Environment Policies Favoring Growth of LNG Market
- Growing Need for Energy Security
Key Market Trends
- Increase in LNG Exports
- Alternative Financing Options
- Emergence of Australia as Leading Market
Key Market Vendors
- Excelerate Energy LLC
- Golar LNG
- Höegh LNG
- Royal Dutch Shell plc
- Samsung Heavy Industries
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
