LNG Carrier Containment Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

The LNG containment is defined as a tank ship, specially designed for the transportation of LNG. The construction and design of the tankship may differ corresponding to the physical and chemical properties of a gas, as per the requirement. Generally, LNG carrier containment has the capability of holding four to six tanks.

Factors such as flexible deployment capabilities, increased efficiency are expected and an increase in global consumption of LNG driven by supportive government regulations and increasing demand from several end-user industries including power generation, industrial, etc. is expected to drive the market in the coming years at a significant rate during the forecast period.

The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on traveling, the shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain.

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Maritime transport underpins global supply chain linkages and economic interdependency with shipping and ports estimated to handle over 80 percent of global merchandise trade by volume and more than 70 percent by value. As a result, when disruptive factors such as pandemics occur, the sector works as a transmission channel that sends shockwaves across supply chains and regions. Disrupted transport networks and supply chains can significantly undermine world trade and economic activity.

According to UnivDatos Market Insights (UMI)’ research report “global LNG carrier containment”, the market is expected to grow at a CAGR of around 4 % during the forecast period (2021-2027). LNG carrier containment caters to a significant market presence over the past few years and is expected to have extensive market growth in the forecasted period as well. Increasing marine pollution around the globe has led to the introduction of several stringent marine pollution regulations, which in turn are expected to positively impact the LNG carrier market over the forecast period.

However, LNG carriers have high installation costs as well as high operating costs, which restrains the growth of the LNG carrier market. Moreover, depressed crude oil prices have caused many Explorations and Production (E&P) companies to constraint their budgets, which is thereby restraining the growth of the global LNG carrier market.

Based on containment type, the LNG carrier containment market is segmented up to moss type and membrane type. The membrane-type segment catered to significant demand in the LNG carrier containment market. It is mainly due to its superior capacity to bear the large pressure of LNG and its compact shape that enables it to carry large LNG volumes as compared to moss membranes.

Based on propulsion type, the LNG carrier containment market is segmented into the steam turbine, steam reheat, ME-GI, DFDE. The steam turbine segment holds a considerable market share in the LNG carrier containment market. As steam turbine offers dual fuel burning capability, low maintenance cost, and high reliability.

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The Asia Pacific to witness the highest growth

Based on region, the report provides detailed analysis for overall adoption of LNG carrier containment in major regions including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of World. Asia Pacific holds the extensive market share due to rapid industrialization rising demand for large LNG volumes from industrialized economies of China, South Korea, and Japan, which are also the key markets for LNG on the global landscape.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global LNG carrier containment market are STX Offshore & Shipbuilding Co., Ltd., Samsung Heavy Industries, Mitsui O.S.K. Lines, Ltd., Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Hyundai Heavy Industries Co., GasLog Ltd., Dynagas Ltd., Daewoo Shipbuilding and Marine Engineering, China State Shipbuilding Corporation. Several strategies have been undertaken by these players to boost their presence in different regions. For instance:

• In January 2022, South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) announced that the company has received an order for two LNG carriers from the Greek shipping company Maran Gas Maritime.
• In December 2021, Samsung Heavy Industries was awarded three new LNG carriers that total USD 622 million (KRW 733.9 billion) from a Bermuda regional shipping company and an Oceania regional shipping company. The delivery of the LNG carriers is expected to be happening by January 2025

“Global LNG carrier containment Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings. 

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 Market Segmentation:

1. By Containment Type (Moss Type and Membrane Type)
2. By Storage Capacity (Under 120,000 cubic m, 120,000 – 160,000 cubic m, and Above 160,000 cubic m)
3. By Propulsion Type (Steam Turbine, Steam Reheat, ME-GI, DFDE, and Others)
4. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
5. By Company (STX Offshore & Shipbuilding Co., Ltd., Samsung Heavy Industries, Mitsui O.S.K. Lines, Ltd. (MOL), Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Hyundai Heavy Industries Co., GasLog Ltd, Dynagas Ltd, Daewoo Shipbuilding and Marine Engineering (DSME), China State Shipbuilding Corporation).

Key questions answered in the study:

1. What are the current and future trends of the global LNG carrier containment industry?
2. How the industry has been evolving in terms of containment type, storage capacity, propulsion type?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global LNG carrier containment industry?
5. What are the customer orientation, purchase behavior, and expectations from the global LNG carrier containment suppliers across various regions and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL LNG CARRIER CONTAINMENT MARKET COVID-19 IMPACT

6 GLOBAL LNG CARRIER CONTAINMENT MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY CONTAINMENT TYPE

8 MARKET INSIGHTS BY STORAGE CAPACITY

9 MARKET INSIGHTS BY PROPULSION TYPE

10 MARKET INSIGHTS BY REGION

11 LNG CARRIER CONTAINMENT MARKET DYNAMICS

12 LNG CARRIER CONTAINMENT MARKET OPPORTUNITIES

13 LNG CARRIER CONTAINMENT MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER 

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