Market Scenario:
Liquefied natural gas (LNG) is a natural gas that has been converted to liquid form for the ease and safety of non-pressurized storage or transport. It is odorless, colorless, non-toxic and non-corrosive in nature. The increase in population and improving standards of living is propagating the growth of this market. Also, the trading of natural gas along further expanded the expansion in transportation of LNG is also driving this market.
The cryogenic liquefactions of LNG reduces the volume of gas as compared to its original volume, making it easier for the transportation process in a specialized LNG carrier. The most appropriate way to transport natural gas is with the help of a pipeline that is subdivided into offshore and onshore pipelines. The onshore pipelines ensure the transportation of gas to a short distance, whereas the offshore pipelines are used for long distance. Other means of carrying LNG is through vessels. The oldest LNG carrying technology Moss-Rosenberg containment system (commonly known as Moss) is still in use for new vessel construction. The second type of large-scale LNG carrying technology is the membrane technology.
Leading Key Players:
Some of the key players in the global liquefied natural gas (LNG) carrier market include:
- China State Shipbuilding Corporation
- Daewoo Shipbuilding and Marine Engineering (DSME)
- Dynagas Ltd.
- GasLog Ltd.
- Hyundai Heavy Industries Co.
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries
- Mitsui O.S.K. Lines, Ltd. (MOL)
- Samsung Heavy Industries
- STX Offshore & Shipbuilding Co., Ltd
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Market Segments
The global liquefied natural gas (LNG) carrier market can be segmented on the basis of technology and region.
- On the basis of technology, the global liquefied natural gas (LNG) carrier market can be segmented into moss type, prism type and membrane type.
- On the basis of region, the global liquefied natural gas (LNG) carrier market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.
In North America, United States is expected to dominate in export of shale gas, owing to the huge domestic production. In spite of having too many environmental issues in Japan, the pattern of increment in consumption of LNG in power sector is highlighted in recent years. Australia, the United States, and Russia are may lead this race of global LNG trade during the forecast years. However, the developing counties like China and India will also have a major shareholding for natural gas consumption growth, which will further boost the demand for LNG carriers.
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