Global LNG Carrier Market carrier market will witness a CAGR of 6.50% for the forecast period of 2021-2028.
LNG (Liquid Natural Gas) carrier is a ship that is designed for the transport of liquefied natural gas in its tanks. To facilitate transport, natural gas is cooled down to approximately −163 C (−261 F) at atmospheric pressure, at which point the gas condenses to liquid form. The tanks on an LNG carrier effectively function as giant thermoses to keep the liquid gas cold during storage. These carriers are equipped with efficient steam turbine-driven propulsion systems, which are propelled by dual fuel diesel-electric propulsion systems. This increases the efficiency of LNG carriers by approximate 30% as compared to conventional vessels. LNG carriers have high resistance to thermal and mechanical stress & strain. In addition, they are also equipped with advanced gas & fire detection & suppression systems to detect even a small leak that might trigger a catastrophic fire on LNG carrier.
The surge in demand for natural gas as a fuel source and the expansion of the LNG carrier business have both been fueled by the quick rise in population around the world. LNG is regarded as a reliable and practical source of energy. The demand for LNG is anticipated to increase significantly as a result of restrictions being introduced by the governments of various nations to reduce emissions, which will also fuel the market for LNG carriers.
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Top key players of LNG Carrier Market:
- STX Offshore & Shipbuilding
- Samsung Heavy Industries
- Mitsui O.S.K. Lines (MOL)
- Mitsubishi Heavy Industries
- Kawasaki Heavy Industries
- Hyundai Heavy Industries
- GasLog Ltd
- Dynagas Ltd
Market: By Types
- Under 120,000 m3
- 120,000-160,000 m3
- Above 160,000 m3
Market: By Applications
- Government Organization
- LNG Supplier
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