FSRU
Market Overview
The floating storage and
regasification unit market is anticipated to upscale at a fast pace during the
forecast period. One of the most primary reasons behind the ascension of the
global floating storage and regasification unit market includes the booming
growth noted in the liquified natural gas market. This is likely to act as a
catalyst for the economic growth of various countries across the world, as it
is environment-friendly for adoption and viable for a shorter period of time to
reduce the carbon emissions. Recent discoveries in offshore regions are also
made which focus on the fulfilment of the demand for various end-user
industrial sectors such as power generation, transportation, as feedstock for
petrochemical manufacturers, and other end-users. FSRU Market is expected to ascend at 13.88% CAGR during the
forecast period, as per the most recent analysis launched by Market Research
Future (MRFR).
Floating storage and
regasification unit market is also expected to help in getting natural gas on
time and make it available readily in the local markets. Diversification in the
market is highly visible, fulfilling the demands for liquified natural gas and
natural gas on a global level, which in turn, is expected to promote the growth
of the FRSU market over the forecast period. Apart from that, FRSU businesses
are also witnessing exponential growth due to the growing demand for green fuel
all over the globe.
Key
Players:
Some noteworthy players in
the global floating storage and regasification unit 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).
FSRU
Market Segmental Analysis
The global FSRU market is
segmented by construction, storage, application, and region. Based on
construction, the global floating storage and regasification unit market is segmented
into newly build and converted. The newly built FSRU is expected to hold the
maximum share of the global FSRU market during the forecast period. This can be
owed to the low storage capacity limitation of the converted FSRU.
Based on storage, the global
FSRU market is segmented into small, medium, and large. Among these segments,
the large sized FSRU are likely to witness a considerable rise and is also
expected to witness fast-paced ascension over the forecast period.
Based on applications, the global
floating storage and regasification unit market is segmented into industrial
and power generation. The power generation segment is expected to boast the
dominant stance in the market.
FSRU
Market - Regional Analysis
The global FSRU market is
studied for the regional segments of North America, Europe, Asia Pacific, the
Middle East & Africa, and Latin America. Among these, Asia Pacific is
estimated to dominate the global FSRU market during the review period. This can
be owed to the region’s rising demand for LNG. Further, an increasing need for
gas and power conversion units, especially in countries within the APAC is also
expected to propel the growth in the regional FSRU market.
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