FSRU (Floating Storage and Regasification Unit) Market Research Report: Information by Construction (Newly built and Converted), by Storage (Small, Medium and Large), by Application (Industrial and Power Generation), and by Regions – Forecast till 2030
The Floating Storage and Regasification Unit market is estimated to grow at a CAGR of around 13.88%, from 85 MTPA in 2030.
The rising demand for environmentally friendly liquefied natural gas is driving the floating storage regasification unit industry. LNG is a good way of transporting natural gas across vast distances. FSRU units make it simple to move energy from one site to another. As a result, these systems are regarded as a great technique for supplying and transferring natural gas. Furthermore, the building of floating storage regasification is affordable, contributing to this approach’s global adoption because of its commercial flexibility and great mobility.
The breakout of the COVID-19 pandemic has had a significant influence on the global market for floating storage regasification units. Due to limits enforced to preserve social separation and decreased demand for liquefied natural gas, the suspension of activity in the energy, transportation, and maritime sectors is expected to limit demand for floating storage regasification units. National and international travel have been impeded due to the lockdown applied across many nations, which has greatly damaged the supply chain of multiple sectors worldwide, consequently expanding the supply-demand gap. As a result, insufficient development in gas-to-power projects would further impede the production rate of floating storage regasification units, reducing market growth.
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The technology produces little carbon and is environmentally friendly, making floating regasification units perfect for usage. The biggest restriction for the FSRU market is the high cost of production owing to the volatility of the oil and gas sector. Furthermore, the floating storage regasification unit has a low capacity for LNG storage, which would limit market growth throughout the projection period.
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Key Companies Profiled:
Recent developments:
April 2022:
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Report Scope:
Report Metrics |
Details |
Market Size |
85 MTPA Unit |
CAGR |
13.88 % CAGR (2022-2030) |
Base Year |
2021 |
Forecast Period |
2022-2030 |
Historical Data |
2019 & 2020 |
Forecast Units |
Value (USD Million) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Market segmentation:
The worldwide FSRU (Floating Storage and Regasification Unit) Market is segmented by heating, application and end-user type market.
By Heating:
By Application:
By End User
Regional analysis:
The FSRU market is divided into several areas of Northern America, including the United States, Mexico, Canada, and the rest of North America. During the projection period, Asia-Pacific is predicted to be the leading region in the FSRU market, followed by South America, Europe, the Middle East and Africa, and North America.
The primary Asian-Pacific nations with established FSRU terminals and a significant order book include Pakistan, Indonesia, China, India and Bangladesh. In contrast, Italy, Turkey, Croatia, and Russia are a few rising areas within Europe’s FSRU sector. During the projected period, Asia-Pacific will likely be the major region for LNG imports. In the region, the percentage of gas utilised for power generation is the lowest.
Gas contributes to just 11.3% of regional power generation while accounting for 23.4% of the global energy mix. To lower emissions, LNG demand will expand in the power generating sector, particularly in China and India, as well as in other Southeast Asian nations such as the Philippines, Thailand, Malaysia and Indonesia.
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