The global Floating Liquefied Natural Gas (FLNG) market size reached USD 19.21 Billion in 2022 and is expected to register a revenue CAGR of 4.7 % during the forecast period, according to latest analysis by Emergen Research. Rapid demand for floating liquefied natural gas (FLNG) for power generation is driving revenue growth of the market. Several leading offshore drilling companies are acquiring onshore floating liquefied natural gas technology to fuel production of Liquefied Natural Gas (LNG) in order to meet rising demand for industrial gas globally. According to the International Energy Agency (IEA), global gas production is expected to growth 30% by 2040. Additionally, technological advancements in offshore drilling technology is accelerating market revenue growth. FLNG technology helps to extract gas from underwater fields that were previously difficult to access due to economic or environmental reasons. Many industries are sourcing significant volumes of LNG to ease supply chain processes. Companies are investing in latest floating drilling technology to reduce costs and additional investments in compression units, dredging, pipelines, and others. However, rising concerns regarding regulatory, pollution, and climate change are restraining growth of the market. According to World Economic Forum (WEF), global emissions of carbon dioxide from fossil fuels and cement production rose by 1.0% in 2022, reaching a record high of 36.6 billion tons of CO2 (GtCO2). In January 2023, a German environmental organization filed a complaint against permission for a newly built floating liquefied natural gas terminal in Wilhelmshaven, claiming release of chlorine is harmful and German climate targets could be put at risk.

Some of the key factors driving the growth of the global Floating Liquefied Natural Gas market include expanding R&D efforts to develop novel Floating Liquefied Natural Gas products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market’s dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.

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Effect of COVID-19 on the global market for Floating Liquefied Natural Gas

The COVID-19 pandemic had a significant negative influence on the market for Floating Liquefied Natural Gas in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Floating Liquefied Natural Gas were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Floating Liquefied Natural Gas in 2020. Additionally, demand for Floating Liquefied Natural Gas decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.

Floating Liquefied Natural Gas market : Competitive Landscape

The prominent players operating in the Floating Liquefied Natural Gas market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Floating Liquefied Natural Gas market .

Some of the prominent players operating in the market are:

Shell Plc, BASF SE, ABB Limited, Chiyoda Corporation, Samsung Heavy Industries Co., Ltd., Linde plc, JGC Holdings Corporation., Excelerate Energy, Inc., BP Plc, TotalEnergies Trading SA, Petronas LNG Ltd. , Baker Hughes Company, Technip Energies N.V., Höegh LNG AS, Golar LNG Limited, Black & Veatch Holding Company

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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.

Key questions answered in the report:

What will be the development pace of Floating Liquefied Natural Gas market ?

What are the key factors driving the Global Floating Liquefied Natural Gas market ?

Who are the key manufacturers in the market space?

What are the openings, hazards, and outline of the market?

What is sales, revenue, and price analysis of top manufacturers of Floating Liquefied Natural Gas market ?

Who are the distributors, traders, and dealers of Floating Liquefied Natural Gas market ?

What are the Floating Liquefied Natural Gas market opportunities and threats faced by the vendors in the Global Floating Liquefied Natural Gas industries?

What are deals, incomes, and value examinations by types and utilizations of the market?

What are deals, income, and value examinations by areas of enterprises?

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Segments Covered in this report are:

• Technology Outlook (Revenue, USD Billion; 2019-2032)

  • Floating Storage Regasification Unit (FSRU)
  • Floating Production Storage and Offloading (FPSO)

• Capacity Outlook (Revenue, USD Billion; 2019-2032)

  • Large-scale FLNG
  • Mid-scale FLNG
  • Small-scale FLNG

• End-use Outlook (Revenue, USD Billion; 2019-2032)

  • Power Generation
  • Industrial
  • Others

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Regional Bifurcation of the Floating Liquefied Natural Gas market Includes:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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