Floating Storage and Regasification Unit (FSRU) Market Analysis | 2022-2027

Market Insights

"The global floating storage and regulation unit (FSRU) market is likely to witness an impressive CAGR of 10.0% during the forecast period."

A floating storage regasification unit (FSRU) is a component that is used for transferring and transmitting liquefied natural gas through oceanic channels. Furthermore, it is known as a ship that is used for liquefied natural gas transfer. For fast-track projects, floating storage regasification is a quick and flexible technique for supplying natural gas.

The increasing demand for liquified natural gas (LNG) as an environmentally friendly energy source is expected to drive the growth of the market over the forecast period. In addition, the FSRU market facilitates the delivery of natural gas in a shorter time frame and makes it readily available to local markets, which is projected to support market growth during the forecast period.

Segments' Analysis

Storage Insights

"The medium storage segment accounted for the largest market share."

Based on the storage type, the market is segmented as small, medium, and large. The medium storage type is expected to grow with the highest CAGR during the forecast period. The majority of FSRU (Floating Storage and Regasification Unit) vessels deployed in recent years are of medium size, and demand for medium storage capacity FSRU units is expected to remain stable during the forecast period.

Application Insights

"The power generation segment accounted for the largest market share."

Based on the application type, the market is segmented as industrial, power generation, and others. The power generation segment is estimated to account for the major share of the market during the forecast period, owing to the growing demand for LNG for power generation projects across the world.

Regional Trends

In terms of regions, the Rest of the World is estimated to hold the major share of the FSRU market during the forecast period. The growth of the region’s market is owing to the growing demand for natural gas across the world. Also, fast-growing economies in the Asia-Pacific region and the Middle East & Africa are expected to drive the FSRU (Floating Storage & Regasification Unit) market during the forecast period.

Key Players

Some of the key players in the Floating Storage and Regasification Unit (FSRU) Market are-

• Bumi Armada
• BW Gas AS
• Excelerate Energy LP
• EXMAR NV
• FLEX LNG Ltd.
• Golar LNG Ltd.
• Hoegh LNG AS
• Maran Gas Maritime Inc.
• Mitsui O.S.K. Lines Ltd.
• Teekay LNG Partners, L.P.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

The floating storage and regulation unit (FSRU) market is segmented into the following categories:

By Construction Type:

• Newly Built
• Converted

By Storage Type:

• Small
• Medium
• Large

By Application Type:

• Industrial
• Power Generation
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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