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Technavio has released a new market research report on the global LNG carriers market for the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the increase in demand for natural gas. As per the IEA, the global demand for natural gas is expected to increase from 3,740 billion cubic meters in 2017 to 4,100 bcm in 2023 with an average growth rate of 1.6% each year. Emerging economies such as China will register the majority of this demand, which would account for 37% of the increase in the global demand for natural gas by 2019.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increase in demand for cleaner fuels as one of the key emerging trends in the global LNG carriers market:
Global LNG carriers market: Increase in demand for cleaner fuels
Oil and coal were the major sources of energy to meet the demand for residential, commercial, industrial, and transportation applications. As a result, there is an increase in the emission of carbon dioxide and other GHG into the atmosphere. As per the IEA, in 2017, the global energy-related carbon dioxide emissions increased by 1.4% after three consecutive years of flat growth in carbon dioxide emissions globally. This resulted in carbon dioxide emissions reaching a historic high of 32.53 Gt CO2 in 2017.
“In order to minimize concerns regarding environmental pollutants, there has been an increase in the popularity of natural gas. When compared with the other fossil fuels, natural gas is regarded as the cleanest fossil fuel as it emits the least amount of carbon dioxide upon combustion, thereby having the least environmental impact among fossil fuels. Thus, globally the demand for natural gas is increasing to meet the increasing demand for energy,” says a senior analyst at Technavio for research on oil and gas.
Global LNG carriers market: Segmentation analysis
This market research report segments the global LNG carriers market by containment type (membrane and moss) and geographical regions (APAC, EMEA, and the Americas).
The membrane segment held the largest market share in 2018, accounting for nearly 75% of the market. This containment type segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of nearly 50%. This region is expected to dominate the market through 2023, with over 2% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market ecosystemMarket characteristicsMarket segmentation analysis
Market definitionMarket size and forecast
Five Forces Analysis
Regional comparisonKey leading countries
Vendors coveredVendor classificationMarket positioning of vendorsCompetitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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CONTACT: Technavio Research
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INDUSTRY KEYWORD: ENERGY OIL/GAS UTILITIES OTHER ENERGY
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/07/2018 12:12 PM/DISC: 12/07/2018 12:11 PM