Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Floating Liquefied Natural Gas (FLNG) Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
Revenue for the Floating Liquefied Natural Gas market is forecast to surpass US$21.0 billion in 2024, with strong revenue growth through to 2034.
FLNG Technology Stands Out for its Ability to Monetize Remote and Stranded Natural Gas Reserves Cost-Effectively
The floating liquefied natural gas (FLNG) market is experiencing notable growth, underpinned by key drivers shaping the global energy landscape. Currently, FLNG technology stands out for its ability to monetize remote and stranded natural gas reserves cost-effectively, providing a viable solution for offshore fields. The sector's modular and scalable nature enhances project economics and mitigates risks associated with uncertain gas field characteristics. Additionally, FLNG projects contribute to the global energy transition, aligning with sustainability goals through cleaner alternatives and operational efficiency.
Opportunities in the FLNG market abound, particularly in unlocking new markets with untapped offshore reserves. Ongoing technological advancements, including liquefaction methods and modular designs, offer prospects for efficiency improvements and cost reductions. Furthermore, the integration of renewable energy sources with FLNG projects positions the industry at the forefront of clean energy production.
However, the sector faces challenges, including substantial upfront capital requirements, making securing financing a persistent challenge. Navigating complex regulatory frameworks and obtaining necessary permits pose hurdles, affecting project timelines and costs. FLNG projects are also sensitive to geopolitical uncertainties and market fluctuations, emphasizing the need for strategic risk management.
Key Market Dynamics
Market Driving Factors
- Increasing Demand of Clean Energy Driving the Market Growth
- Technological Advancement in Offshore Drilling Technology Driving the Market Growth
- Reduction in the Prices of Natural Gas Driving the Market Growth
Market Restraining Factors
- Rising Concerns Regarding Legal, Pollution and Climate Change
- Infrastructure Development Costs Hinder the Market Growth
- Competition from Other Energy Sources Hinder the LNG Market Growth
Market Opportunities
- The FLNG Market Provides Opportunities for Global Market Expansion and Diversification
- Unlocking Remote and Stranded Gas Reserves
- Collaborations Between Industry Stakeholders, Including Energy Companies, Engineering Firms, and Technology Providers, Present Opportunities
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising floating liquefied natural gas (FLNG) prices and recent developments.
Segments Covered in the Report
Market Segment by Vessel Type
- Converted LNG Carriers
- Newbuild (Purpose-built) FLNG Vessels
Market Segment by Capacity
- Small-Scale FLNG (Up to 1 MTPA)
- Mid-Scale FLNG (1-3 MTPA)
- Large-Scale FLNG (Above 3 MTPA)
Market Segment by Storage
- Onboard Storage Tanks
- Membrane-type Storage Systems
- Moss-type Storage Systems
- Other Storage Type
Market Segment by Technology
- Nitrogen-based Liquefaction
- Mixed Refrigerant Liquefaction
- Shell's Prelude FLNG Technology
- Petronas PFLNG Technology
- Other Technologies
The report also includes profiles for the following leading companies:
- ABB Limited
- Baker Hughes Company
- BASF SE
- Black & Veatch
- BP Plc
- Chiyoda Corporation
- Excelerate Energy
- Golar LNG Limited
- Hoegh LNG Holding
- JGC Holdings Corporation
- Linde Plc
- Petroliam Nasional Berhad
- Shell plc
- Technip Energies N.V.
- TotalEnergies SE
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for Floating Liquefied Natural Gas (FLNG) Market, 2024 to 2034 Market, with forecasts for vessel type, capacity, storage, and technology, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Floating Liquefied Natural Gas (FLNG) Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Russia, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Floating Liquefied Natural Gas (FLNG) Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/kz8igr
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