Already more than double the 2017 business
From the numbers we collected at the end of June, the LNG market has already awarded in 2018 twice more business than the entire 2017 year.
At the beginging of the year our market analysis was already promising a boom for 2018 and the figures extracted from www.projectsmartexplorer.com data base are confirming this trend.
The following graph is showing the volume of LNG business related to projects already awarded, for Centrifugal pumps:
These numbers represent actual business awarded and no longer forecast. The figures of 2018 and 2019 are already more than three times higher than the year 2017, meaning we are witnessing a major rebound of the LNG market.
We choosed for our demonstration centrifugal pump as example of the market dynamic because this equipement is used for every projects of Upstream, Midstream and Downstream, thus is a relevant indicator for the Oil & Gas and Petrochemical industry. Other equipment could be use for this illustration and will lead to the same conclusion.
Homogeneous distribution of the market
The disk graph shows the business oppotunities repartition in KUSD for LNG plant following the operator status:
Scope and evaluation of LNG rebound
2018 has already been very dynamic and 2019 is expected to be on the same trajectory. To put figures on trends, we extract the business pipeline from the smart data tool www.projectsmartexplorer.com for the coming years.
The barre-graph is showing year by year the amont of business opportunities listed in www.projectsmartexplorer.com for LNG plant. Compared to 2017, the market is expected to be multiplied by 5 in 2018 strenghening the figures we previously commented. In addition, years 2019 and 2020 are already at comparable levels confirming that this trend should continue until 2020 at least.
One will understand the favorable circumstances LNG represents, still it is necessary to be able to identfy these opportunities. Indeed, the number of projects is greater but most importantly, these projects are smaller and shorter requiring more flexibility to capture.
To hope benefit from the growth of LNG market, it becomes necessary to reorganize and target the right project with the right timing. The market rebound requires organizations to see beyond and move first.