Energy & Power
Global Floating Liquefied Natural Gas (FLNG) Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Floating Liquefied Natural Gas (FLNG) Market, By Technology (Floating Storage Regasification Unit (FSRU), Floating Production Storage and Offloading (FPSO)), Technology (Nitrogen-based Liquefaction, Mixed Refrigerant Liquefaction, Shell’s Prelude FLNG Technology, Petronas PFLNG Technology, Other Technologies), Vessel Type (Converted LNG Carriers, Newbuild (Purpose-built) FLNG Vessels), Capacity (Small-Scale FLNG (Up to 1 MTPA), Mid-Scale FLNG (1-3 MTPA), Large-Scale FLNG (Above 3 MTPA)), Storage (Onboard Storage Tanks, Membrane-type Storage Systems, Moss-type Storage Systems, Other Storage Type), End-use (Power Generation, Transportation, Marine Fuel, Others), Application (Energy Enterprises, Government, Industrial, Commercial), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global floating liquefied natural gas (FLNG) market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Floating Liquefied Natural Gas (FLNG) is a technique that extracts, liquefies, and stores natural gas at sea using specialized vessels rather than standard onshore facilities. It makes it possible to exploit isolated offshore gas reserves that would otherwise be very difficult to access financially. FLNG is more cost-effective and environmentally friendly than land-based liquefaction plants. The Floating Liquefied Natural Gas (FLNG) Market includes the development, deployment, and operation of these floating facilities, as well as associated infrastructure and support services. It is crucial for releasing trapped gas deposits, improving energy security, and supplying the world's natural gas needs, especially in areas with weak onshore infrastructure or restricted geopolitical options.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Flexibility and scalability of FLNG projects.
- Reduced environmental impact compared to onshore facilities.
RESTRAINTS
- High initial investment costs.
- Technical challenges in deep-water operations.
OPPORTUNITIES
- Untapped potential in remote offshore gas fields.
- Growing adoption of FLNG in emerging markets.
CHALLENGES
- Complex project management and logistics.
- Safety and security concerns in offshore operations.
SEGMENTATION
- Technology
- Floating Storage Regasification Unit (FSRU)
- Floating Production Storage and Offloading (FPSO)
- Technology
- Nitrogen-based Liquefaction
- Mixed Refrigerant Liquefaction
- Shell's Prelude FLNG Technology
- Petronas PFLNG Technology
- Other Technologies
- Vessel Type
- Converted LNG Carriers
- Newbuild (Purpose-built) FLNG Vessels
- Capacity
- Small-Scale FLNG (Up to 1 MTPA)
- Mid-Scale FLNG (1-3 MTPA)
- Large-Scale FLNG (Above 3 MTPA)
- Storage
- Onboard Storage Tanks
- Membrane-type Storage Systems
- Moss-type Storage Systems
- Other Storage Type
- End-use
- Power Generation
- Transportation
- Marine Fuel
- Others
- Application
- Energy Enterprises
- Government
- Industrial
- Commercial
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- ABB Limited
- Baker Hughes Company
- BASF SE
- Black & Veatch
- BP Plc
- Chiyoda Corporation
- Excelerate Energy
- Golar LNG Limited
- Hoegh LNG Holding
- JGC Holdings Corporation
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Floating Liquefied Natural Gas (FLNG) Market, by Technology
- 3.2 Global Floating Liquefied Natural Gas (FLNG) Market, by Technology
- 3.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type
- 3.4 Global Floating Liquefied Natural Gas (FLNG) Market, by Capacity
- 3.5 Global Floating Liquefied Natural Gas (FLNG) Market, by Storage
- 3.6 Global Floating Liquefied Natural Gas (FLNG) Market, by End-use
- 3.7 Global Floating Liquefied Natural Gas (FLNG) Market, by Application
- 3.8 Global Floating Liquefied Natural Gas (FLNG) Market, by Geography
- 3.9 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Increasing demand for cleaner energy sources.
- 5.1.2 Technological advancements in FLNG infrastructure.
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Flexibility and scalability of FLNG projects.
- 5.2.2 Reduced environmental impact compared to onshore facilities.
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High initial investment costs.
- 5.3.2 Technical challenges in deep-water operations.
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Untapped potential in remote offshore gas fields.
- 5.4.2 Growing adoption of FLNG in emerging markets.
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Complex project management and logistics.
- 5.5.2 Safety and security concerns in offshore operations.
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY TECHNOLOGY
- 6.1 Technology Summary
- 6.2 Market Attractive Index
- 6.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- SECTION 7 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY TECHNOLOGY
- 7.1 Technology Summary
- 7.2 Market Attractive Index
- 7.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- SECTION 8 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY VESSEL TYPE
- 8.1 Vessel Type Summary
- 8.2 Market Attractive Index
- 8.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type (2019-2032)
- SECTION 9 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY CAPACITY
- 9.1 Capacity Summary
- 9.2 Market Attractive Index
- 9.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Capacity (2019-2032)
- SECTION 10 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY STORAGE
- 10.1 Storage Summary
- 10.2 Market Attractive Index
- 10.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Storage (2019-2032)
- SECTION 11 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY END-USE
- 11.1 End-use Summary
- 11.2 Market Attractive Index
- 11.3 Global Floating Liquefied Natural Gas (FLNG) Market, by End-use (2019-2032)
- SECTION 12 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY APPLICATION
- 12.1 Application Summary
- 12.2 Market Attractive Index
- 12.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Application (2019-2032)
- SECTION 13 - GLOBAL FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET, BY GEOGRAPHY
- 13.1 Regional Summary
- 13.2 Market Attractive Index
- 13.3 Global Floating Liquefied Natural Gas (FLNG) Market, by Geography (2019-2032)
- SECTION 14 - NORTH AMERICA FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET
- 14.1 North America Summary
- 14.2 Market Attractive Index
- 14.3 North America Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 14.4 North America Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 14.5 North America Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type (2019-2032)
- 14.6 North America Floating Liquefied Natural Gas (FLNG) Market, by Capacity (2019-2032)
- 14.7 North America Floating Liquefied Natural Gas (FLNG) Market, by Storage (2019-2032)
- 14.8 North America Floating Liquefied Natural Gas (FLNG) Market, by End-use (2019-2032)
- 14.9 North America Floating Liquefied Natural Gas (FLNG) Market, by Application (2019-2032)
- 14.10 North America Floating Liquefied Natural Gas (FLNG) Market, by Country (2019-2032)
- 14.10.1 U.S.
- 14.10.2 Canada
- 14.10.3 Mexico
- 14.10.4 Rest of North America
- SECTION 15 - EUROPE FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET
- 15.1 Europe Summary
- 15.2 Market Attractive Index
- 15.3 Europe Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 15.4 Europe Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 15.5 Europe Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type (2019-2032)
- 15.6 Europe Floating Liquefied Natural Gas (FLNG) Market, by Capacity (2019-2032)
- 15.7 Europe Floating Liquefied Natural Gas (FLNG) Market, by Storage (2019-2032)
- 15.8 Europe Floating Liquefied Natural Gas (FLNG) Market, by End-use (2019-2032)
- 15.9 Europe Floating Liquefied Natural Gas (FLNG) Market, by Application (2019-2032)
- 15.10 Europe Floating Liquefied Natural Gas (FLNG) Market, by Country (2019-2032)
- 15.10.1 Germany
- 15.10.2 U.K.
- 15.10.3 France
- 15.10.4 Italy
- 15.10.5 Spain
- 15.10.6 Russia
- 15.10.7 The Netherlands
- 15.10.8 Belgium
- 15.10.9 Turkey
- 15.10.10 Rest of Europe
- SECTION 16 - ASIA-PACIFIC FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET
- 16.1 Asia-Pacific Summary
- 16.2 Market Attractive Index
- 16.3 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 16.4 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 16.5 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type (2019-2032)
- 16.6 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Capacity (2019-2032)
- 16.7 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Storage (2019-2032)
- 16.8 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by End-use (2019-2032)
- 16.9 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Application (2019-2032)
- 16.10 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, by Country (2019-2032)
- 16.10.1 China
- 16.10.2 India
- 16.10.3 Japan
- 16.10.4 South Korea
- 16.10.5 Singapore
- 16.10.6 Malaysia
- 16.10.7 Australia
- 16.10.8 Thailand
- 16.10.9 Philippines
- 16.10.10 Rest of Asia-Pacific
- SECTION 17 - SOUTH AMERICA FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET
- 17.1 South America Summary
- 17.2 Market Attractive Index
- 17.3 South America Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 17.4 South America Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 17.5 South America Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type (2019-2032)
- 17.6 South America Floating Liquefied Natural Gas (FLNG) Market, by Capacity (2019-2032)
- 17.7 South America Floating Liquefied Natural Gas (FLNG) Market, by Storage (2019-2032)
- 17.8 South America Floating Liquefied Natural Gas (FLNG) Market, by End-use (2019-2032)
- 17.9 South America Floating Liquefied Natural Gas (FLNG) Market, by Application (2019-2032)
- 17.10 South America Floating Liquefied Natural Gas (FLNG) Market, by Country (2019-2032)
- 17.10.1 Brazil
- 17.10.2 Argentina
- 17.10.3 Chile
- 17.10.4 Colombia
- 17.10.5 Rest of South America
- SECTION 18 - MIDDLE EAST AND AFRICA FLOATING LIQUEFIED NATURAL GAS (FLNG) MARKET
- 18.1 Middle East and Africa Summary
- 18.2 Market Attractive Index
- 18.3 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 18.4 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Technology (2019-2032)
- 18.5 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Vessel Type (2019-2032)
- 18.6 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Capacity (2019-2032)
- 18.7 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Storage (2019-2032)
- 18.8 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by End-use (2019-2032)
- 18.9 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Application (2019-2032)
- 18.10 Middle East and Africa Floating Liquefied Natural Gas (FLNG) Market, by Country (2019-2032)
- 18.10.1 Kingdom of Saudi Arabia
- 18.10.2 South Africa
- 18.10.3 U.A.E.
- 18.10.4 Egypt
- 18.10.5 Rest of Middle East and Africa
- SECTION 19 - COMPANY SHARE ANALYSIS
- 19.1 Global Floating Liquefied Natural Gas (FLNG) Market, Company Share Analysis
- 19.2 North America Floating Liquefied Natural Gas (FLNG) Market, Company Share Analysis
- 19.3 Europe Floating Liquefied Natural Gas (FLNG) Market, Company Share Analysis
- 19.4 Asia-Pacific Floating Liquefied Natural Gas (FLNG) Market, Company Share Analysis
- SECTION 20 - COMPANY PROFILES
- 20.1 ABB Limited
- 20.1.1 Company Snapshot
- 20.1.2 Financial Overview
- 20.1.3 Product Portfolio
- 20.1.4 Recent Developments
- 20.2 Baker Hughes Company
- 20.2.1 Company Snapshot
- 20.2.2 Financial Overview
- 20.2.3 Product Portfolio
- 20.2.4 Recent Developments
- 20.3 BASF SE
- 20.3.1 Company Snapshot
- 20.3.2 Financial Overview
- 20.3.3 Product Portfolio
- 20.3.4 Recent Developments
- 20.4 Black & Veatch
- 20.4.1 Company Snapshot
- 20.4.2 Financial Overview
- 20.4.3 Product Portfolio
- 20.4.4 Recent Developments
- 20.5 BP Plc
- 20.5.1 Company Snapshot
- 20.5.2 Financial Overview
- 20.5.3 Product Portfolio
- 20.5.4 Recent Developments
- 20.6 Chiyoda Corporation
- 20.6.1 Company Snapshot
- 20.6.2 Financial Overview
- 20.6.3 Product Portfolio
- 20.6.4 Recent Developments
- 20.7 Excelerate Energy
- 20.7.1 Company Snapshot
- 20.7.2 Financial Overview
- 20.7.3 Product Portfolio
- 20.7.4 Recent Developments
- 20.8 Golar LNG Limited
- 20.8.1 Company Snapshot
- 20.8.2 Financial Overview
- 20.8.3 Product Portfolio
- 20.8.4 Recent Developments
- 20.9 Hoegh LNG Holding
- 20.9.1 Company Snapshot
- 20.9.2 Financial Overview
- 20.9.3 Product Portfolio
- 20.9.4 Recent Developments
- 20.10 JGC Holdings Corporation
- 20.10.1 Company Snapshot
- 20.10.2 Financial Overview
- 20.10.3 Product Portfolio
- 20.10.4 Recent Developments
- SECTION 21 - RELATED REPORTS
- SECTION 22 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.