Powerships Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Powerships Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


Global Powerships Market: Overview

A powership or a power ship refers to a special purpose ship, which houses a power plant to serve as a source of power generation. An existing ship can be modified for generation of power or a marine vessel on which a power plant is set up to cater to the need for power generation.

Some recently built power ships were changed into self-propelled powerships with ready to go infrastructure for developing nations. These can be plugged into national grids as and when needed. Unmotorised powerships, also known as power barges, refer to power plants set up on a deck barge. These ships are also sometimes known as "barge mounted power plants" or "floating power plants".

The global market for powerships has been segmented on the basis of the following parameters: type and region.

Global Powerships Market: Notable Developments

The dynamics of the global powerships market have improved in recent times. Some of the leading developments pertaining to the global powerships market are mentioned below:

  • In 2018, Zurich-based ABB Group announced that it has acquired a U.S.-based GE Industrial Solutions, GE’s global electrification solutions business.
  • In April 2019, Karpower International B.V. and Mitsui O.S.K. Lines, Ltd. announced that they have agreed to collaborate on the LNG-to-Powership business to become the most preferable and reliable LNG to powership solution provider in the world, under the name of “KARMOL”.

Some of the most prominent competitors operating in the competitive landscape of global powerships market include –

  • General Electric Co.
  • ABB Group
  • Volkswagen AG
  • Karpower International BV
  • GAS Entec Co. Ltd.

New market entrants are likely to emerge in the global powerships market in the years to come.

Global Powerships Market: Growth Drivers

Escalated Demand for Energy and Natural Gas to Stimulate Market Growth

The global demand for energy has risen, thanks to the growth of the global economy. Growth in the level of income of people has further escalated the demand for energy services, such as air conditioning (ACs). Industrial sector has been witnessing accelerated adoption of electric motor systems and such industrial need has augmented the requirement for energy.

In addition to increased demand for energy, significant growth in the production of natural gas is another factor that is pushing the global powerships market towards growth. For example, as per the projections the production of shale gas in the Permian Basin, U.S. will increase two-fold over the period of forecast (2018–2028). Such expansion in the production of natural gas will have a direct influence on the growth of the global powerships market.

Global Powerships Market: Regional Outlook

The Middle East and Africa region served prominent share of demands in the global powerships market in 2018. Growing demand for efficient yet economic generation of power within a short span of time is driving the powerships market in the region. Besides, the increasing need for electricity is augmenting the load on the already existing grid connections. It has led to power blackouts during peak times. As such, powerships are increasingly being adopted in the region to avert such situations and support the grid power at the time of peak demand, such as during summer months.

Developing countries such as China and India are the massive consumers of electricity. Growing number of electronically-connected devices, electrification of the transport and heating sector, and extensive digitalization spur the demand for electricity in the region. Therefore, powerships market in the Asia Pacific region is likely to witness upsurge in growth.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?