In emerging markets, demand is driven by growth in electricity consumption. In developed countries, the aim for low carbon power systems is spurring investments in renewable energy, which leads to unforeseen grid stability challenges. This drives the need for additional backup and balancing power capacity based on natural gas.
The demand in the shipbuilding and shipping industries is mainly driven by the development of the global economy and its impact on trade and transportation capacity required. Fuel prices also have an impact on both the shipping and offshore industries. Environmental regulation drives the demand for environmental solutions and gas as a marine fuel.
The main drivers are the aim for lifecycle efficiency, the need to lower operating costs, and the need for enhanced safety. Outsourcing the operations and management of power plants is an important trend. Marine service business is strongly driven by the existing, as well as new, environmental regulations and ultimately by the activity levels of the vessel fleet.