The global Floating Storage and Regasification Unit (FSRU) market is expected to grow at a high rate and the main reason is the boom in the LNG (Liquified Natural Gas) market. This acts as a catalyst for the economic growth in various countries worldwide, as it is environment-friendly and viable to be adopted in a shorter period of time to reduce the carbon emissions. Recent discoveries in offshore regions have been made, which focus on fulfilment of the demand for various sectors, such as transportation, power generation as a feedstock for petrochemical manufacturers, and other end-users. FSRU market helps get natural gas on time and makes it readily available to local markets. Diversification in the market is prominent, fulfilling the demands for LNG and natural gas, globally. FSRU business is growing exponentially to meet the demand for green fuel.

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Floating Storage and Regasification Unit Market Segments Analysis

In MFRF’s report, the global FSRU market is segmented on the basis of construction, storage and application.

Based on application, it is segmented into power generation and industrial. Of these, power generation is likely to have the utmost share in the FSRU market.

Based on storage, it is segmented into converted FSRUs and newly built FSRUs. Of these, the newly built FSRU is likely to have the maximum market share at a notable CAGR over the assessment period owing to the low storage capacity limitation of the converted FSRU.

Based on storage capacity, the FSRU market is segmented into large, medium and small-sized FSRU. Of these, the large sized FSRU have shown a considerable increase of late is anticipated to grow further over the assessment period.

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Floating Storage and Regasification Unit Regional Market Analysis

Based on region, the global FSRU market cover growth opportunities and latest trends across North America, Latin America, Europe, Asia Pacific and the Middle East and Africa.

Of these, Asia Pacific will dominate the market during the assessment period owing to the region’s increasing demand for LNG. The increasing need for gas to power conversion units especially in countries under the APAC region is predicted to propel the growth of the FSRU market in this region with higher environmental viability of the natural gas that has boosted the fuel usage in the energy generation plants as a substitute to conventional fuels such as coal. The countries which have constraints to build onshore regasification facilities is predicted to be the key players in the FSRU market.

Competitive Landscape

Leading players profiled in the FSRU market include L.P. (Bermuda), Teekay Lng Partners, Bumi Armada (Malaysia), Mitsui O.S.K. Lines (Japan), Offshore LNG Toscana SpA (Italy), Maran Gas Maritime Inc. (Greece), Exmar (Belgium), Gazprom FLEX LNG (U.K), BW gas (Norway), Golar LNG (Bermuda), Hoegh LNG (Bermuda) and Excelerate Energy (U.S).

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