07 November 2019
Powerships Market Report 2020-2030: Forecasts by Type (Oil fired, Gas fired), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry. Due to the growth of the global economy, the demand for energy has risen. Growth in people's income has further increased demand for energy products, such as air conditioning (ACs). The industrial sector has seen the rapid adoption of electric motor systems and the demand for energy has been increased by such industrial needs.
In addition to increased energy demand, significant growth in natural gas production is another factor that is driving the market for global powerhouses towards growth. Of example, as expected by the Permian Basin shale gas output, the U.S. will double over the forecast period (2018–2028). Such expansion in natural gas production would directly influence global powership market growth.
Powerships are very popular with end users due to their versatility in oil. Powerships will generate power depending on the availability of fuel and the operating conditions of the floating power plant using both oil and natural gas. The lack of adequate pipelines for LNG distribution and liquefaction and regasification facilities for importing gas in several countries has resulted in increased demand for LNG-to-powerships that use LNG to produce electricity. When higher emission fuels are replaced by natural gas, increasing the use of LNG-to-powerships will also help to reduce GHG emissions.
Energy demand is increasing throughout the globe. The growing global population and growing economic activities can be attributed to this raising demand for energy. Emerging economies like India and China are the main energy users. In the coming years, the digitalization of modern economies, electrification of the heating and transport market, and an increasing number of electronically connected devices will fuel the demand for electricity. Also adding to the rising demand for energy is the introduction of electric motor systems in factories and the increasing demand for air conditioning services in households.
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