Floating Storage and Regasification Units (FSRU) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

  • Single User License $3500

Floating Storage and Regasification Units (FSRU) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : November, 2021 | Semiconductor & Electronics

Report Digest


Global Floating Storage and Regasification Units Market: Snapshot

A floating storage and regasification unit is considered as a vital component, which is required while transferring and transiting liquefied natural gas (LNG) using oceanic channels. It is also known as a special kind of ship that is only used for the transferring of LNG across the globe. The tremendous demand for liquefied natural gas across different parts of the world is one of the major factors projected to encourage the growth of the global floating storage and regasification units market in the next few years. 

The growing need of LNG importers to fast track regasification access is anticipated to fuel the growth of the overall market in the coming years. As regions worldwide have comparatively unexpected and smaller gas requirements, the floating storage and regasification units are projected to fulfill their demands. In addition, the low cost of construction required for floating storage and regasification units is another essential aspect, which is likely to contribute towards the development of the global market in the coming few years. 

The global floating storage and regasification units market is expected to find application in the energy sector. As transferring of fuel is a complication task, as slight callousness can result in loss of the fuel, degrade the oceanic ecosystem, and can take a toll on lives of several people. As a result, the entire process of the transfer is done within the ship itself in order to avoid the need to unload the liquefied natural gas in its semi-frozen state. A high level of competition is expected in the near future with a potential rise in the number of players entering the global floating storage and regasification units market.

Global Floating Storage and Regasification Units Market: Overview

The global floating storage and regasification units market (FSRU) is predicted to ride on the need to transport liquefied natural gas (LNG) to remote locations. LNG is the most suitable form in which natural gas can be moved through long distances. An FSRU can cost-effectively and time-efficiently store and regasify LNG and provide a convenient access to the global LNG supply for LNG importers.

Global Floating Storage and Regasification Units Market: Drivers

One of the primary drivers of the global floating storage and regasification units market is the ability of FSRUs to help LNG importers gain a fast track regasification access. As the need for energy changes, these units can be easily relocated from one location to another. Regions that have comparatively unpredictable and typically smaller gas requirements can essentially benefit from floating regasification systems. In fact, these systems are considered to be an ideal means of supplying for the gas needs of such regions. Additionally, the systems have a lower cost of construction, which makes them more ideal.

The construction of large scale land-based terminals could be infeasible, considering the smaller requirements and remote locations of certain power generation facilities. A new set of risks is expected to be associated with the high pressure of FSRU operations, which is not the case with the conventional LNG carriers. Such downtrends could emerge as a restraint in successfully converting existing LNG carriers into FSRUs.

Howbeit, the adoption of FSRUs in the global market has increased considerably, owing to the significant mobility witnessed on the part of these units. Most remote power generation facilities use natural gas as a fuel for generating power. These facilities find it extremely convenient to get natural gas supplied to their faraway locations. While FSRUs can be constructed by transforming the old LNG carriers, they can also be built on demand.

Global Floating Storage and Regasification Units Market: Geography

In the current scenario, the international market for FSRU is observed to be one of the most profitable ones, especially in the energy sector. The overall FSRU market is poised to grow on a global platform on the back of the augmenting penetration of the LNG market in different economies of the world. South America and Europe are projected to witness multiple projects built to satisfy the substantial requirement of LNG to fulfill the energy demands. Especially in countries such as South Korea, Japan, and China, the Asia Pacific region is anticipated to demonstrate weighty growth prospects.

Global Floating Storage and Regasification Units Market: Companies

Excelerate Energy, Teekay Corporation, GDF Suez, Hoegh LNG, Flex LNG, BW Offshore, and Golar LNG among others are the significant industry players expected to exhibit a strong competition in the global FSRU market. Most players in the floating storage and regasification units market are foreseen to take advantage of the diversification of energy sources by the major energy consuming economies. Such a diversification is deemed to have birthed from the need to reduce the dependence on imported petroleum and improve international competitiveness. Players are also looking to cash in on the developed and developing economies consuming natural gas in a significant measure.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?