|
Forecast Period
|
2026-2030
|
|
Market Size (2024)
|
USD 2.67 billion
|
|
Market Size (2030)
|
USD
3.52 billion
|
|
CAGR (2025-2030)
|
4.56%
|
|
Fastest Growing Segment
|
Up to 100 MW
|
|
Largest Market
|
Middle East and Africa
|
Market Overview
Global
Powerships
Market was
valued at USD 2.67 billion in 2024 and is expected to reach USD 3.52 billion by
2030 with a CAGR of 4.56% during the forecast period.
The Powerships
Market refers to the global industry focused on drilling operations that use
compressed air or gas instead of conventional drilling fluids to remove
cuttings from the borehole. This technique is particularly effective in hard
rock formations, low-pressure reservoirs, and dry zones where fluid-based
drilling may be inefficient or risky. Air drilling significantly reduces
formation damage, enhances drilling speed, and lowers operational costs due to
reduced fluid management requirements. The market encompasses various air
drilling techniques such as dust drilling, mist drilling, foam drilling,
aerated fluid drilling, and nitrogen membrane drilling, each tailored to
specific geotechnical and reservoir conditions.
The growth of
the Powerships Market is being driven by several key factors. Firstly, the
global demand for energy is continuously increasing, pushing oil and gas
exploration into more challenging terrains and unconventional reservoirs where
air drilling offers distinct advantages. The technique allows for faster
penetration rates, reduced non-productive time, and minimized environmental
impact, all of which are critical in both mature and emerging oilfields.
Secondly, the rise in onshore drilling activities, especially in shale gas and
tight oil formations in regions such as North America and the Asia Pacific, is
accelerating the adoption of air drilling techniques. These formations
typically exhibit low-pressure environments that benefit from air-based systems
due to their ability to maintain wellbore stability without overbalancing the
formation pressure.
Technological
advancements are also playing a crucial role in the market’s growth.
Innovations in air compressors, downhole motors, and drill bit designs have
enhanced the reliability and safety of air drilling operations. Moreover, the
increasing integration of real-time monitoring and control systems is enabling
better performance optimization and risk mitigation. Environmental regulations
are further encouraging the use of air drilling, as it involves less water
usage and waste management compared to traditional mud-based methods. As oil
and gas companies continue to seek cost-effective, high-performance drilling
solutions, the Powerships Market is expected to witness steady growth during
the forecast period, supported by expanding exploration activities and evolving
drilling technologies.
Key Market Drivers.
Escalating Global Energy
Demand and Infrastructure Gaps
The Powerships Market is
experiencing robust growth due to the escalating global demand for electricity,
particularly in regions with underdeveloped or unreliable power infrastructure.
Powerships, as mobile floating power plants, provide a flexible and rapid
solution to bridge energy supply gaps in areas where traditional power plants
are either impractical or too time-consuming to construct. Developing nations
in Asia, Africa, and Latin America, where urbanization and industrialization
are accelerating, face significant challenges in meeting rising electricity
needs due to limited grid capacity and aging infrastructure.
Powerships address these
challenges by delivering scalable power generation directly to coastal or
riverine locations, connecting to local grids without requiring extensive
onshore infrastructure. This is particularly critical in regions prone to power
shortages, where rapid deployment of electricity is essential for economic
growth and social stability. The ability of powerships to operate on diverse
fuels, such as natural gas or oil, enhances their adaptability to local
resource availability, making them a preferred choice for governments and
utilities seeking immediate energy solutions.
Furthermore, powerships
support industrial sectors, such as mining and manufacturing, which require
consistent power to sustain operations in remote areas. The global push for
energy access, driven by population growth and increasing per capita energy consumption,
amplifies the need for innovative solutions like powerships. Their mobility
allows for redeployment to different regions as energy needs evolve, offering a
cost-effective alternative to permanent power plants. As global energy
consumption continues to rise, particularly in emerging economies, the
Powerships Market is poised for sustained expansion, driven by the urgent need
to address infrastructure gaps and provide reliable electricity to underserved
regions.
In 2023, global electricity
demand grew by 4.7%, reaching 29,000 terawatt-hours, with developing nations
accounting for 60% of this increase, according to the International Energy
Agency (IEA). Over 800 million people globally lacked reliable electricity
access in 2024, with 70% in Sub-Saharan Africa and South Asia, driving a 15%
rise in powership deployments, with 25 vessels operational in these regions,
per the World Bank’s energy access reports.
Shift Toward Cleaner and
Sustainable Energy Sources
The Powerships Market is
being propelled by a global shift toward cleaner and more sustainable energy
sources, particularly the increasing adoption of natural gas-powered powerships
over traditional oil-fired systems. As environmental regulations tighten and
the global energy sector prioritizes reducing carbon emissions, natural gas has
emerged as a preferred fuel due to its lower carbon footprint and
cost-effectiveness compared to oil. Powerships equipped with gas turbines or
dual-fuel engines offer a cleaner alternative, aligning with international
sustainability goals and regional environmental policies.
This transition is
particularly evident in markets like Africa and Southeast Asia, where
governments are seeking to balance energy security with environmental
compliance. The abundant availability of liquefied natural gas (LNG) and
advancements in LNG infrastructure, such as floating storage and regasification
units (FSRUs), have made gas-powered powerships more viable, enabling operators
to deliver electricity with reduced emissions.
Additionally, innovations
in powership technology, such as waste heat recovery systems and enhanced fuel
efficiency, further support the industry’s move toward sustainability. The
flexibility of powerships to integrate renewable energy sources, such as solar
or wind, in hybrid configurations is also gaining traction, particularly in
regions with ambitious renewable energy targets.
As global energy policies
increasingly emphasize decarbonization, powerships are evolving to meet these
demands by incorporating cleaner fuels and advanced technologies, positioning
the market for significant growth. The ability to provide reliable power while
adhering to environmental standards makes powerships an attractive solution for
governments and utilities navigating the transition to a low-carbon energy
future, particularly in areas where land-based renewable infrastructure is not
yet feasible.
In 2024, global LNG trade
reached 400 million metric tons, a 7% increase from 2023, per the International
Gas Union. Gas-powered powerships accounted for 60% of the 100 operational
powerships worldwide, reducing CO2 emissions by 25% compared to oil-fired
counterparts, with 15 new gas-powered vessels deployed in Africa and Asia,
according to the International Energy Agency’s 2024 report.
Rapid Deployment for
Emergency and Temporary Power Needs
The Powerships Market is
driven by the critical need for rapid power deployment in emergency and
temporary scenarios, such as natural disasters, humanitarian crises, or
unexpected power shortages. Powerships offer a unique advantage with their
ability to be deployed quickly to affected areas, providing immediate
electricity to support relief efforts, critical infrastructure, and
communities. Unlike traditional power plants, which require years of planning
and construction, powerships can be operational within weeks, connecting
directly to local grids or supplying power to isolated facilities.
This capability is
particularly valuable in disaster-prone regions, such as Southeast Asia and the
Caribbean, where hurricanes, earthquakes, or floods frequently disrupt power
supplies. Powerships also serve as temporary solutions during the maintenance or
upgrading of existing power infrastructure, ensuring continuity of electricity
supply. Their mobility allows them to be repositioned as needed, making them
ideal for short-term contracts or transitional energy needs in developing
nations undergoing infrastructure modernization.
The scalability of
powerships, with capacities ranging from 50 MW to over 500 MW, enables tailored
solutions for diverse applications, from powering small communities to
supporting large industrial operations. As climate change increases the
frequency of natural disasters and global energy demand grows, the Powerships
Market is expected to expand, driven by the need for agile and reliable power
solutions that can address urgent electricity shortages in a timely and
efficient manner.
In 2024, natural disasters
disrupted power for over 200 million people globally, per the United Nations
Office for Disaster Risk Reduction. Powerships provided emergency power to 10%
of affected regions, with 20 vessels deployed in Asia and Africa, delivering
2,500 MW of capacity within 30 days of deployment, according to the
International Federation of Red Cross and Red Crescent Societies.
Supportive Government
Policies and Public-Private Partnerships
Supportive government
policies and public-private partnerships are significantly driving the
Powerships Market by fostering investment and facilitating the deployment of
floating power plants. Governments in energy-deficient regions, particularly in
Africa, Asia, and Latin America, are implementing policies such as tax
incentives, subsidies, and streamlined permitting processes to encourage the
adoption of powerships as a quick and cost-effective solution to energy
shortages.
These policies are often
paired with public-private partnerships (PPPs), where governments collaborate
with private energy companies to finance and operate powerships, reducing the
financial burden on public budgets. For example, countries like Ghana, Indonesia,
and Mozambique have signed long-term power purchase agreements (PPAs) with
powership operators to secure reliable electricity supply without the need for
significant upfront infrastructure investments. These agreements ensure stable
revenue streams for operators while addressing critical energy access
challenges.
Additionally, international
organizations, such as the World Bank and African Development Bank, are
supporting powership projects through funding and technical assistance, further
boosting market growth. The flexibility of powerships to operate under short-term
or long-term contracts aligns with government strategies to address both
immediate and strategic energy needs. As global energy policies prioritize
rapid electrification and sustainable development, the Powerships Market is
expected to benefit from continued regulatory support and collaborative
financing models, driving its expansion in regions with urgent energy demands.
In 2023, global
public-private partnership investments in energy infrastructure reached USD90
billion, with 15% allocated to powership projects, per the World Bank. Over 30
powership contracts were signed in Africa and Asia in 2024, delivering 4,000 MW
of capacity, with 70% backed by government incentives, according to the African
Development Bank’s 2024 energy financing report.

Download Free Sample Report
Key Market Challenges
Regulatory Complexity and
Environmental Compliance
One of the most critical
challenges in the Powerships Market is navigating intricate regulatory
requirements and environmental compliance standards across multiple
jurisdictions. These floating power plants must obtain a range of
approvals—from maritime certification and port access to power generation
licensing and emissions permits. Because powerships are deployed
internationally, operators must contend with varying legal frameworks relating
to fuel type, emissions thresholds, dredging permissions, and local content requirements.
For example, regulations governing sulphur emissions from heavy fuel oil (HFO)
combustion differ significantly between regions under International Maritime
Organization Annex VI standards and more stringent local air quality
directives. National authorities may also mandate additional environmental
impact assessments, requiring vessel retrofitting or even limiting operation
during sensitive seasons such as fish spawning or migratory bird passages.
Adapting existing
powerships to meet stricter emissions standards—through installation of exhaust
gas scrubbers, selective catalytic reduction units, or conversion to liquified
natural gas (LNG)—entails substantial capital expenditure. These retrofits impact
cash flows, delay deployment timelines, and add complexity to contract
negotiations with offtakers. Fuel-switching options carry their own logistical
challenges, including storage, safety protocols, and compliance with Inland
Waterway regulations. Additionally, host governments are increasingly
prioritizing renewable energy integration, which may limit powership contract
durations or impose in-country offset requirements that diminish profitability.
The lengthy permitting
process itself—often a function of inter-agency coordination—can extend beyond
12 to 24 months. During this period, project economics remain uncertain,
appetite for investments may diminish, and geopolitical shifts can render agreements
obsolete. Operators must therefore invest in early-stage legal analysis,
adaptive design strategies, and stakeholder engagement to mitigate risk.
Without a solid compliance and permitting strategy, powership projects risk
delays, additional costs, and reputational damage. These complexities continue
to challenge developers in delivering timely, compliant, and economically
viable floating power solutions in a rapidly evolving regulatory landscape.
Fuel Supply Security and
Cost Volatility
Powership viability depends
heavily on secure and affordable fuel supply chains, yet global energy markets
remain highly volatile. Traditional powerships rely on heavy fuel oil—subject
to steep global price fluctuations tied to crude oil futures, geopolitical
events, or shipping disruptions like the Red Sea tensions. In some cases,
installing scrubbers to meet sulphur regulations can cause a 5 to 10 percent
increase in fuel consumption, making supply economics marginal or uneconomical
under market downturns. Although liquified natural gas (LNG) is cleaner, its
supply logistics are even more complex: the ship-to-ship transfers, cryogenic
storage systems, and regasification infrastructure required may exceed Port
Authority capacities, especially in developing nations. The capital and
operational costs of LNG-powered powerships remain significantly higher than
HFO variants.
These cost structures
complicate long-term power purchase agreements (PPAs), which often include
fixed or indexed price clauses. During oil price slumps, energy-markets
regulators may cap electricity tariffs—limiting operators’ ability to pass
increased fuel costs to consumers. Conversely, maintaining competitive power
rates during oil price surges risks compressed profit margins or contract
renegotiations. Fuel contracting models—such as bunkering, take-or-pay
arrangements, or joint ventures with fuel suppliers—can mitigate exposure but
come with their own creditworthiness and supply risk complications. Logistical
defeats—like vessel delays at ports or import restrictions—can interrupt
generation capacity and lead to penalty clauses and reputational erosion. As
investors prioritize predictable returns, securing stable fuel contracts and
resilient logistics infrastructure is essential, yet remains a formidable
challenge given the global energy markets' inherent unpredictability.
Key Market Trends
Rapid Deployment &
Flexible Grid Support
A defining trend in the
Powerships Market is the accelerated adoption of floating power plants due to
their ability to be mobilized and commissioned in significantly shorter
timeframes than land-based facilities. Traditional power plants require years
of planning, construction, environmental studies, and permits before operation,
whereas powerships can be delivered, moored, and connected to a power grid
within a matter of weeks or months. This agility is increasingly valuable
during power emergencies, post-disaster restoration, or for meeting seasonal
peak demands.
Emerging markets in Africa,
Southeast Asia, and Latin America have deployed powerships to bridge energy
deficits, restore supply in damaged infrastructure, and initiate electricity
access in underserved regions . Governments and utilities are utilizing powerships
as a stop-gap solution during infrastructure expansion phases, allowing them to
maintain energy stability while permanent plants are built. As global energy
systems become more decentralized, powerships offer portable base-load capacity
that complements intermittent renewable sources, balancing supply stability .
Powered by dual-fuel
engines capable of running on heavy fuel oil or natural gas, modern powerships
offer operational flexibility. They can pivot between fuels based on cost,
availability, or environmental policy, providing a hedge against fluctuating energy
markets. To stay competitive, operators are deploying combined-cycle turbine
systems, advanced waste-heat recovery, and onboard digital monitoring tools to
maximize fuel efficiency and reliability .
The trend toward modularity
is also gaining traction: powerships are being designed for scalability,
allowing investors to add or remove power generation modules depending on
regional demand. Such modular architecture enhances cost control and resource optimization
during lease or power purchase agreement negotiations . As electricity demand
continues to grow unevenly across regions, the intrinsic rapid deployment and
flexible operational nature of powerships position them at the forefront of
solving emerging energy challenges.
Transition Toward Cleaner
Fuel and Hybrid Configurations
Environmental performance
is becoming a key differentiator in the Powerships Market. Operators are
increasingly moving from traditional heavy fuel oil systems to cleaner
alternatives such as liquefied natural gas (LNG) and dual-fuel engines to meet
tightening emissions regulations. LNG offers lower greenhouse gas and
particulate emissions, helping powerships stay compliant with international
standards and appealing to environmentally focused offtakers.
Advanced technologies such
as waste-heat recovery systems and emissions-control equipment are becoming
standard features, driving improvements in fuel efficiency and operational
sustainability . Hybrid floating power plants that integrate renewables—particularly
solar and battery storage—are also emerging. These configurations enhance plant
flexibility and reduce carbon intensity by contributing clean energy when
conditions permit, while traditional powership engines compensate during low
renewables generation .
Such hybrid approaches are
gaining traction in island nations, remote coastal areas, and emerging
economies seeking cleaner, decentralized energy solutions . Advanced monitoring
and control systems further support emissions management by enabling real-time
optimization of power generation and fuel usage . As sustainability becomes a
procurement priority for lenders, international development banks, and
governments, powership operators are incentivized to incorporate cleaner fuel
options and hybrid designs early in asset planning cycles.
Strategic Partnerships
& Innovative Financial Models
The Powerships Market is
witnessing a substantial shift toward strategic alliances and innovative
financial mechanisms aimed at enhancing market access, reducing risk, and
accelerating deployment. Joint ventures between powership operators, utilities,
governments, and multilateral financiers are enabling shared investment in
fleet expansion, infrastructure upgrades, and lease financing .
Power Purchase Agreements
(PPAs) backed by government guarantees or development financing agencies are
becoming increasingly prevalent, helping to de-risk long-term revenue streams .
Operators are now offering flexible contract terms with options such as
lease-to-own, indexed tariff structures, and fuel cost-sharing
arrangements—making powership solutions more accessible to financially
constrained utilities .
Collaborations between
engineering firms and marine logistics providers are optimising the rapid
deployment model, while local content partnerships ensure compliance with
in-country regulations and support economic development — such as training
labor, sourcing fuel, and constructing docks. Enhanced project readiness
positions powerships as turnkey solutions that align with national
infrastructure targets and energy access programs.
As renewable energy
penetration heightens and grid resilience becomes a strategic necessity, the
market is responding with cross-sector collaboration—from renewables, storage,
and powership convergence to climate-focused financial agreements emphasizing sustainability.
These evolving business models and partnerships are expanding powership
adoption across continents and sectors, establishing floating power as a vital
player in the evolving global energy ecosystem.
Segmental Insights
Fuel Type Insights
In 2024, the dual-fuel segment emerged as the
dominant category in the Powerships Market and is projected to maintain its
leadership throughout the forecast period. This segment's dominance is largely
due to its ability to operate on both heavy fuel oil and natural gas, offering
unparalleled fuel flexibility to powership operators. As global energy markets
continue to experience price volatility and supply uncertainties, dual-fuel
powerships provide a strategic advantage by allowing seamless switching between
fuel types based on availability, cost-efficiency, and regulatory requirements.
This adaptability is especially critical in
emerging markets, where fuel supply chains can be inconsistent or subject to
geopolitical risk. Moreover, growing global emphasis on environmental
sustainability has led to tighter emissions standards across maritime and
energy sectors. Dual-fuel powerships, when operated on natural gas, emit
significantly lower levels of sulfur oxides, nitrogen oxides, and carbon
dioxide compared to traditional heavy fuel oil-based systems, enabling
compliance with international emission mandates and regional environmental
policies.
Additionally, dual-fuel engines support energy
transition strategies by serving as a bridge between fossil fuel-based
generation and the gradual adoption of renewable energy. Governments,
particularly in Asia Pacific, the Middle East, and Africa, are increasingly
favoring dual-fuel powerships in power purchase agreements, as they ensure
reliable electricity supply while aligning with long-term decarbonization
goals. Technological advancements in engine design, fuel storage, and emissions
control are further improving the performance and economic viability of
dual-fuel systems.
Financial institutions and investors are also more
inclined to fund dual-fuel projects, viewing them as lower-risk and
future-ready energy solutions. These collective advantages—ranging from
operational flexibility and environmental compliance to market acceptance and
investment attractiveness—position the dual-fuel segment as the most resilient
and scalable fuel type within the Powerships Market. As a result, it is
expected to retain its dominant status well into the forecast period.
Power Output Capacity Insights
In
2024, the segment with a power output capacity of 101–250 megawatts dominated
the Powerships Market and is anticipated to retain its dominance during the
forecast period. This particular capacity range offers an optimal balance
between mobility, scalability, and cost-effectiveness, making it highly
suitable for deployment in a wide variety of energy-deficient regions across
Asia Pacific, the Middle East, Africa, and Latin America. Powerships within
this capacity range can provide sufficient electricity to power mid-sized
cities, industrial zones, or regions experiencing seasonal demand surges,
without requiring extensive infrastructure upgrades or prolonged deployment
timelines.
Governments
and utilities prefer this segment because it addresses both base-load and
peak-load requirements efficiently, while also being flexible enough to be
relocated or reconfigured based on evolving power needs. Furthermore, these
units are capable of integrating advanced dual-fuel systems, emissions control
technologies, and remote operational features, enhancing their environmental
compliance and reliability.
From
an investment standpoint, powerships in the 101–250 megawatts category present
a more attractive proposition due to their lower capital expenditure per
megawatt when compared to larger capacity vessels, coupled with faster returns
on investment through medium-term power purchase agreements. These ships are
particularly favored in public-private partnership models where time-sensitive
power supply is crucial, such as during post-disaster recovery or in emerging
economies undergoing infrastructure expansion.
Additionally,
international financial institutions and multilateral development banks are
more inclined to support projects in this range due to their proven feasibility
and operational track record. Technological advancements in modular turbine
design and integrated energy management systems are further reinforcing the
dominance of this segment. As global demand for agile, cost-effective, and
environmentally responsive power generation continues to rise, the 101–250
megawatts power output segment is expected to remain the most preferred and
widely adopted category within the Powerships Market throughout the forecast
period.
Download Free Sample Report
Regional Insights
Largest Region
In 2024, the Middle East and Africa region
dominated the Powerships Market and is expected to maintain its dominance
throughout the forecast period. This regional leadership is primarily driven by
high demand for immediate and flexible power solutions in countries with
limited grid infrastructure, frequent electricity shortages, and rapidly
growing populations. Nations such as Iraq, Lebanon, Ghana, Mozambique, and
South Africa are increasingly relying on powerships as a dependable source of
electricity to supplement their national grids.
The region’s chronic energy deficits, combined with
limited capacity for long-term infrastructure development, make powerships an
ideal interim solution that can be deployed quickly and cost-effectively.
Additionally, several governments in the Middle East and Africa have entered
into long-term power purchase agreements with leading powership operators,
particularly those offering dual-fuel solutions that can transition toward
cleaner energy sources like natural gas. These agreements provide financial stability
for operators and ensure reliable electricity supply for local populations.
The presence of major players such as Karpowership
in countries like Ghana, Senegal, and Mozambique has further solidified the
region’s position as the leading market for powership deployments. Moreover,
geopolitical instability and natural disasters in some parts of the region have
created urgent demand for mobile, self-contained power generation units,
further boosting the uptake of powership solutions. The relatively lower
regulatory hurdles and strong government support for emergency and transitional
power supply models also contribute to the region’s continued dominance.
Investments by international development finance
institutions in energy access programs are expected to reinforce the growth
trajectory of powership projects in this region. As energy security and
electrification remain top priorities across the Middle East and Africa, the
demand for flexible, scalable, and rapidly deployable power generation is
anticipated to keep this region at the forefront of the global Powerships
Market throughout the forecast period.
Emerging Region
In the forecast period,
South America was expected to emerge as a key region in the Powerships Market,
driven by increasing interest in temporary and scalable power solutions across
countries facing energy shortages, aging infrastructure, and delayed grid
expansion projects. Although the region has historically relied on traditional
land-based power generation, several nations—including Brazil, Argentina,
Colombia, and the Dominican Republic—are beginning to explore powerships as a
viable solution to meet short- and medium-term electricity needs.
Economic development,
combined with population growth and rising industrial activity, is placing
significant pressure on national grids, particularly in remote and underserved
areas. Powerships offer a practical alternative that can be rapidly deployed to
provide dependable electricity without the need for extensive onshore
construction. Governments in the region are increasingly looking to
public-private partnerships and international financing mechanisms to support
energy access initiatives, which include mobile power generation solutions.
Additionally,
climate-related disruptions such as prolonged droughts have impacted hydropower
reliability in several countries, further reinforcing the demand for
supplemental and emergency generation sources like powerships. Interest is also
growing in dual-fuel and liquefied natural gas-powered powerships, aligning
with regional efforts to reduce dependency on diesel and transition toward
cleaner fuels.
While South America
currently represents a smaller share of the global Powerships Market compared
to regions such as the Middle East and Asia Pacific, its evolving policy
landscape, growing power reliability concerns, and openness to infrastructure
innovation position it as an emerging market with substantial long-term
potential. Early-stage projects, feasibility studies, and engagement from
international operators suggest a clear upward trajectory, making South America
a region to watch for increased powership activity during the forecast period.
Recent Development
- In April 2024, Karpowership signed a trilateral
agreement with Guyana Power and Light Incorporated and UCC Holding to deploy a
36 megawatt powership in Guyana. The initiative is designed to supply
approximately 27 percent of the country’s electricity needs under a two-year
lease arrangement. This move marks a significant step in addressing Guyana’s
power shortages by providing a rapid, mobile energy solution and reflects the
growing reliance on powerships for bridging infrastructure gaps in emerging power
markets.
- In August 2024, Karpowership announced a
transformative USD1 billion LNG‑to‑power
project in Mozambique designed to serve the Southern African Power Pool (SAPP).
This initiative includes one of the world’s largest powerships (approximately
500 MW capacity) alongside a Floating Storage Regasification Unit. The project
aims to provide reliable, low-cost electricity to around 5 million people
across countries like Zambia, Zimbabwe, Botswana, and Namibia and builds on
Karpowership's existing operations that supply 115 MW to Zambia
- In May 2024, Karpowership and Brazil’s Petrobras
signed a memorandum of intent to jointly develop integrated liquefied natural
gas and power infrastructure across the Americas. The collaboration includes
floating and onshore liquefaction, regasification, storage, and powership
facilities. This strategic partnership builds upon Karpowership’s successful
LNG-to-power deployment model in Brazil and reflects a shared commitment to
expanding cleaner, gas-based energy solutions. It also signals both companies’
intent to strengthen their presence in the growing regional market for flexible
and sustainable power generation.
- In June 2025, Iraq's Council of Ministers approved
the deployment of a powership with a capacity of 650 megawatts, supported by a
Floating Storage Regasification Unit project delivering 750 million standard
cubic feet per day of liquefied natural gas. This initiative is designed to
enhance electricity generation during the peak summer months and improve the
country’s overall energy resilience. The combined solution reflects Iraq’s
commitment to addressing power shortages through scalable, rapid-deployment
infrastructure based on natural gas and floating power technologies.
Key
Market Players
- Karpowership
- Wärtsilä Corporation
- Siemens Energy AG
- MAN Energy Solutions SE
- General Electric
Company
- Caterpillar Inc.
- Hyundai Heavy
Industries Co., Ltd.
- Rolls-Royce Power
Systems AG
- ABB Ltd.
- Aggreko Ltd.
|
By Fuel Type
|
By Power Output Capacity
|
By End User
|
By Region
|
- Heavy
Fuel Oil
- Natural
Gas
- Dual-Fuel
|
- Up
to 100 MW
- 101–250
MW
- Above
250 MW
|
- Utilities
- Industrial
- Military
- Government
Projects
|
- North
America
- Europe
- South
America
- Middle East
& Africa
- Asia Pacific
|
Report Scope:
In this report, the Global Powerships Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Powerships Market, By
Fuel Type:
o Heavy Fuel Oil
o Dual-Fuel
o Natural Gas
- Powerships Market, By
Power Output Capacity:
o Up to 100 MW
o 101–250 MW
o Above 250 MW
- Powerships Market, By
End User:
o Utilities
o Industrial
o Military
o Government Projects
- Powerships Market, By
Region:
o North America
§
United
States
§
Canada
§
Mexico
o Europe
§
Germany
§
France
§
United
Kingdom
§
Italy
§
Spain
o South America
§
Brazil
§
Argentina
§
Colombia
o Asia-Pacific
§
China
§
India
§
Japan
§
South
Korea
§
Australia
o Middle East & Africa
§
Saudi
Arabia
§
UAE
§
South
Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Powerships Market.
Available Customizations:
Global Powerships Market report with the
given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Global Powerships Market is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]