Middle East & Africa C-Type LNG carrier Market Forecast to 2028

Report Code : BMIRE00027647 | Region : LAMEA | Industry : Automotive and Transportation | Published Date : 19/Dec/2022
Middle East & Africa C-Type LNG carrier Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Cylindrical, Bi-Lobe, and Tri-Lobe) and Application (Marine, Oil and Gas, Petrochemical, and Others)

The C-type LNG carrier market in Middle East & Africa is expected to grow from US$ 146.16 million in 2022 to US$ 168.06 million by 2028. It is estimated to grow at a CAGR of 2.4% from 2022 to 2028.

Increasing Demand for Clean Energy

Natural gas is gaining momentum in many sectors as it is a cheap, environment-friendly, and efficient fossil fuel. It emits around 40% less carbon dioxide than coal and roughly 20% less carbon than oil. LNG is considered as a cleaner alternative to fuel oil and coal. It is widely adopted for generating the power. Thus, the rise in demand for clean gas is primarily attributed by the industrial and commercial applications which is further expected to drive the market growth. The surging demand for natural gases by residential, industrial, and commercial sectors, mainly from the developing economies, and the growing usage of LNG carriers for a wide range of end-use applications, such as defense and transport, are among the major factors holding potential opportunity for the growth of the C-type LNG carrier market. Thus, the increase in demand for clean energy sources across various applications is expected to provide lucrative opportunities for the market growth in the coming years.

Market Overview

The Middle East's gas production is soaring, and the region surpassed Russia's output in 2019, making it the world's second-largest gas producer after North America. According to public energy estimates, the region produced about 730-billion-meter cube of LNG in 2020, which is expected to rise to almost 920 billion m3 by 2030. In 2018, the Middle East surpassed Asia in gas production, with 665 billion m3 produced, up from 465 billion m3 in 2010. In addition, Saudi Arabia and the UAE are predicted to increase their combined gas production from 115 billion m3 in 2010 to 225 billion m3 in 2030, with Saudi Arabia accounting for 70% of the total; however, Qatar continues to dominate global output. Hence, the growing LNG production in the region is set to create an immense opportunity for the C type LNG carrier market vendors. Furthermore, due to rising production and export rates, the region is one of the major procurers of LNG carriers. For instance, in 2018, Nakilat and Maran Ventures Inc. signed a four-vessel agreement with Daewoo Shipbuilding & Marine Engineering (DSME). The 174,000 cubic meter Global Sea Spirit was the first X-DF vessel to join the Nakilat fleet. The first two ME-GI devices were delivered in May 2020 and January 2021 and are now operational. The fourth carrier with X-DF engine technology is planned for 2022. Hence, the region provides the main customer base for the C Type LNG carrier market vendors.

Middle East & Africa C-Type LNG carrier Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa C-Type LNG carrier Market Segmentation

The Middle East & Africa C-type LNG carrier market is segmented into product type, application, and country.

Based on product type, the Middle East & Africa C-type LNG carrier market is segmented into cylindrical, bi-lobe, and tri-lobe. The cylindrical segment registered the largest market share in 2022. Based on application, the Middle East & Africa C-type LNG carrier market is segmented into marine, petrochemicals, oil and gas, and others. The marine segment registered the largest market share in 2022. Based on country, the market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The UAE dominated the market share in 2022. DSME Co., Ltd.; Knutsen OAS Shipping; Komarine Co. and Mitsubishi Heavy Industries, Ltd.; are the leading companies operating in the C-type LNG carrier market in the region.

● DSME Co., Ltd.

● Knutsen OAS Shipping

● Komarine Co.

● Mitsubishi Heavy Industries, Ltd.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 MEA C-Type LNG Carrier Market – By Product Type

1.3.2 MEA C-Type LNG Carrier Market – By Application

1.3.3 MEA C-Type LNG Carrier Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. MEA C-Type LNG Carrier Market Landscape

4.1 Market Overview

4.2 MEA PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. MEA C-Type LNG Carrier Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Surge in New Shipbuilding Contracts and New Fleet Expansion

5.2 Key Market Restraints

5.2.1 Operational and Financial Challenges Associated with LNG Carriers

5.3 Key Market Opportunities

5.3.1 Increasing Demand for Clean Energy

5.4 Trends

5.4.1 Rising Demand for Natural Gas from Several Industries

5.5 Impact analysis of Drivers and Restraints

6. C-Type LNG Carrier Market – MEA Analysis

6.1 C-Type LNG Carrier Market Overview

6.2 MEA C-Type LNG Carrier Market Forecast and Analysis

7. MEA C-Type LNG Carrier Market Revenue and Forecast to 2028 – Product Type

7.1 Overview

7.2 MEA C-Type LNG Carrier Market, By Product (2021 And 2028)

7.3 Cylindrical

7.3.1 Overview

7.3.2 Cylindrical: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

7.4 Bi-lobe Shaped Tanks

7.4.1 Overview

7.4.2 Bi-lobe Shaped Tanks: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

7.5 Tri-lobe Shaped Tanks

7.5.1 Overview

7.5.2 Tri-lobe Shaped Tanks: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

8. MEA C-Type LNG Carrier Market Analysis – By Application

8.1 Overview

8.2 MEA C-Type LNG Carrier Market, By Application (2021 And 2028)

8.3 Marine

8.3.1 Overview

8.3.2 Marine: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

8.4 Oil and Gas

8.4.1 Overview

8.4.2 Oil and Gas: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

8.5 Petrochemical

8.5.1 Overview

8.5.2 Petrochemical: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

8.6 Others

8.6.1 Overview

8.6.2 Others: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)

9. MEA C-Type LNG Carrier Market – Country Analysis

9.1 Overview

9.1.1 MEA C-Type LNG Carrier Market Breakdown, By Country

9.1.1.1 Saudi Arabia C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)

9.1.1.1.1 Saudi Arabia C-Type LNG Carrier Market Breakdown, By Product Type

9.1.1.1.2 Saudi Arabia C-Type LNG Carrier Market Breakdown, By Application

9.1.1.2 UAE C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)

9.1.1.2.1 UAE C-Type LNG Carrier Market Breakdown, By Product Type

9.1.1.2.2 UAE C-Type LNG Carrier Market Breakdown, By Application

9.1.1.3 South Africa C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)

9.1.1.3.1 South Africa C-Type LNG Carrier Market Breakdown, By Product Type

9.1.1.3.2 South Africa C-Type LNG Carrier Market Breakdown, By Application

9.1.1.4 Rest of MEA C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)

9.1.1.4.1 Rest of MEA C-Type LNG Carrier Market Breakdown, By Product Type

9.1.1.4.2 Rest of MEA C-Type LNG Carrier Market Breakdown, By Application

10. Industry Landscape

10.1 Overview

10.2 Market Initiative

10.3 Merger and Acquisition

10.4 New Product Launch

11. Company Profiles

11.1 Mitsubishi Heavy Industries, Ltd.

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Products and Services

11.1.4 Financial Overview

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 Komarine Co.

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Products and Services

11.2.4 Financial Overview

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 Knutsen OAS Shipping

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Products and Services

11.3.4 Financial Overview

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 DSME Co., Ltd.

11.4.1 Key Facts

11.4.2 Business Description

11.4.3 Products and Services

11.4.4 Financial Overview

11.4.5 SWOT Analysis

11.4.6 Key Developments

12. Appendix

12.1 About The Insight Partners

12.2 Word Index

LIST OF TABLES.

Table 1. MEA C-Type LNG Carrier Market, Revenue and Forecast, 2019–2028 (US$ Million)

Table 2. MEA C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Country (US$ million)

Table 3. Saudi Arabia C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 4. Saudi Arabia C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 5. UAE C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 6. UAE C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 7. South Africa C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 8. South Africa C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 9. Rest of MEA C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)

Table 10. Rest of MEA C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 11. List of Abbreviation

● DSME Co., Ltd.

● Knutsen OAS Shipping

● Komarine Co.

● Mitsubishi Heavy Industries, Ltd.

Reason To Buy

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa C-type LNG carrier market

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa C-type LNG carrier market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the C-type LNG carrier market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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