Global LNG Carriers Market - Growth, Trends and Forecasts (2016-2021)
The LNG carriers market has evolved over the last decade, which is driven by the growth in the global liquefaction capacity. The order and delivery of the LNG vessels is quite cyclical in nature and the year 2014 was marked as the start of the next opportunity in the LNG shipping capacity. The LNG carriers market is growing at a CAGR of XX% and is expected to reach USD XXX by 2021 from USD XXX in 2016.
Need for Specialized LNG Carrier
The LNG carriers have undergone a few major changes in the design since the first vessel came into service fifty years ago. These carriers have undergone major innovations and enhancements with regard to their propulsion systems. Presently, Japan, South Korea and China are constructing large scale LNG carriers. The LNG carrier market is closely linked to the liquefaction units.
Natural gas is conventionally transferred through pipelines. The offshore pipelines are less viable than the onshore pipelines; hence, they are limited to the short and medium distances. The major exporters and importers like japan, Australia, etc., do not have direct pipelines with their trading partners. This led to the liquefaction of the natural gas for transport, which resulted in the process known as cryogenic liquefaction. This process is used for reducing the volume of gas to 1/600th of its original volume, which makes it feasible to transport in a specialized cryogenic LNG carrier.
LNG Carriers Market Restraints
With the new carrier fleet entering the market and with the regional shipping imbalances, there has been a fluctuation in the charter rates of the carriers. Stability in the spot LNG market price in the year 2014 led to most traders and LNG carrier fleets being occupied. However, demand in the trading of spot and short term LNG cargos resulted in the shipping charter rate fluctuations in the LNG spot market, which had an impact on the pricing and flow of LNG.
The major exporters for LNG are North America, Africa, Qatar and Australia and the major importers are South Korea and Japan. The LNG carrier market had started off strongly in 2014, with an increase in demand from Asia, Asia-Pacific and Latin America.
Key Deliverables in the Study
1. Market analysis for the global LNG carriers market, with region specific assessments and competition analysis on global and regional scale.
2. Market definition along with the identification of key drivers and restraints.
3. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their market share.5. Identification and analysis of the macro and micro factors that affect the global wearable medical devices market on both global and regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
8. Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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