Market Size of North America FLNG Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America FLNG Market Analysis
The North American FLNG market is expected to register a CAGR of over 3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.
- The upcoming FLNG projects, accelerated by the rising demand for clean fuel technologies and a growing emphasis on a sustainable energy mix, are expected to drive the growth of the market studied.
- On the other hand, the high costs of investments are expected to hamper the growth of FLNG during the forecast period.
- Nevertheless, the increasing adoption of FLNG technology for the production, liquefaction, and storage of natural gas is likely to create lucrative growth opportunities for the North American FLNG market in the forecast period.
- The United States dominates the market and is also likely to witness significant growth during the forecast period. This growth is attributed to the increasing demand for natural gas and upcoming FLNG facilities resulting in massive demand for North American FLNG market.
