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In 2022, the market for FSRUs (Floating Storage and Regasification Units) was estimated to be worth USD 1.9 billion. According to projections, the FSRU (Floating Storage and Regasification Unit) market industry will increase from USD 2.1 billion in 2023 to USD 3.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.90% throughout the forecast period (2023-2032). The main market factors boosting market growth include the cost-effectiveness of FSRUs, rising natural gas demand, and stabilising crude oil prices internationally.
Liquefied natural gas (LNG) transmission and distribution through marine waterways requires the use of FSRUs (Floating Storage and Regasification Units). In addition, this type of vessel is recognised for its role in transporting LNG. Natural gas can be supplied rapidly and flexibly via floating storage regasification, making it ideal for fast-track applications. It's a crucial part of the liquefied natural gas (LNG) transport vessels and the regional gas distribution system. Natural gas, hydrocarbon production, and the energy sector all benefit from the services provided by the floating storage regasification unit. This method streamlines the fuel transfer process and protects the marine habitat from gasoline leaks. A floating storage regasification unit system is thus necessary for the semi-frozen storage of liquefied natural gas.
An FSRU costs roughly USD 300 million to construct, which is less than half as much as an onshore plant. Because they can be operational in a year, which is at least 6 times faster than an onshore facility of a similar scale, these FSRUS are also cost-competitive and time-sensitive. This cost competitiveness allows both developed and developing countries on the LNG market to quickly construct their regasification facilities. For instance, Croatia, a country with a growing LNG market, started importing LNG by installing its first FSRU, which has a 1.9 MTPA capacity. Similar to this, two countries with established LNG markets—Brazil and India—have enhanced the capacity of their regasification facilities by launching two and one FSRU, respectively. In March 2022, India got its first FSRU vessel, which berthed at the H Energy Group's Jaigarh port in Maharashtra. The new FSRU has a storage capacity of 170,000 cubic metres and a regasification capability of 750 million cubic feet per day.
An FSRU transports LNG from the place of production to numerous locations across the world using a hybrid shipping vessel. These ships aid in supplying electricity to a variety of end users and address the fuel shortage. They also offer quick LNG transportation, which hastens the utilisation of FSRUs. These boats, which are moored in ports or float at sea, are where the LNG is regasified. Before being delivered to the final user, the LNG is next fed into the transmission network. FSRUs offer a quick, affordable, and flexible way to transport natural gas to customers. For end-to-end transportation, a floating LNG plant known as an FSRU can be easily deployed. Because an FSRU doesn't require a lot of infrastructure, using them reduces the need for end-user countries to establish a separate regasification unit. These competitive advantages that an FSRU offers, along with actions taken to enhance the adoption of clean fuels and reduce carbon emissions, are expected to fuel the growth of the FSRU market.
Between 2014 and 2020, the global production of crude oil did not decline, although there were still fluctuations in the price of the product. These changes have an effect on oil and gas E&P activities since they frequently rely on the income produced by sector participants. The decline in crude oil prices in 2014 and 2020 led to the suspension of a large number of exploration and production (E&P) activities. boosting the market revenue for FSRUs (Floating Storage and Regasification Units).
Leading market competitors are spending a lot of money on R&D to broaden their product offerings, which will spur further growth in the FSRU (Floating Storage and Regasification Unit) market. Important market developments include new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organisations. Market participants are also engaging in a number of strategic initiatives to increase their presence. The FSRU (Floating Storage and Regasification Unit) sector must provide affordable products if it hopes to grow and flourish in an increasingly competitive and challenging market environment.
Report Coverage
Global FSRU (Floating Storage and Regasification Unit) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global FSRU (Floating Storage and Regasification Unit) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and FSRU (Floating Storage and Regasification Unit) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key FSRU (Floating Storage and Regasification Unit) market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global FSRU (Floating Storage and Regasification Unit) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, FSRU (Floating Storage and Regasification Unit) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Excelerate Energy, Hoegh LNG, Golar LNG, BW gas, Gazprom FLEX LNG, Exmar, Maran Gas Maritime Inc., Offshore LNG Toscana SpA, Mitsui O.S.K. Lines, Bumi Armada, and Teekay Lng Partners, L.P
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global FSRU (Floating Storage and Regasification Unit) market based on the below-mentioned segments:
Global FSRU (Floating Storage and Regasification Unit) Market, By Construction
Newly Built
Converted
Global FSRU (Floating Storage and Regasification Unit) market, By Application
Industrial
Power Generation
Others
Global FSRU (Floating Storage and Regasification Unit) Market, By Storage
Small
Medium
Large
Global FSRU (Floating Storage and Regasification Unit) market, Regional Analysis
Liquefied natural gas (LNG) transmission and distribution through marine waterways requires the use of FSRUs (Floating Storage and Regasification Units). In addition, this type of vessel is recognised for its role in transporting LNG. Natural gas can be supplied rapidly and flexibly via floating storage regasification, making it ideal for fast-track applications. It's a crucial part of the liquefied natural gas (LNG) transport vessels and the regional gas distribution system. Natural gas, hydrocarbon production, and the energy sector all benefit from the services provided by the floating storage regasification unit. This method streamlines the fuel transfer process and protects the marine habitat from gasoline leaks. A floating storage regasification unit system is thus necessary for the semi-frozen storage of liquefied natural gas.
An FSRU costs roughly USD 300 million to construct, which is less than half as much as an onshore plant. Because they can be operational in a year, which is at least 6 times faster than an onshore facility of a similar scale, these FSRUS are also cost-competitive and time-sensitive. This cost competitiveness allows both developed and developing countries on the LNG market to quickly construct their regasification facilities. For instance, Croatia, a country with a growing LNG market, started importing LNG by installing its first FSRU, which has a 1.9 MTPA capacity. Similar to this, two countries with established LNG markets—Brazil and India—have enhanced the capacity of their regasification facilities by launching two and one FSRU, respectively. In March 2022, India got its first FSRU vessel, which berthed at the H Energy Group's Jaigarh port in Maharashtra. The new FSRU has a storage capacity of 170,000 cubic metres and a regasification capability of 750 million cubic feet per day.
An FSRU transports LNG from the place of production to numerous locations across the world using a hybrid shipping vessel. These ships aid in supplying electricity to a variety of end users and address the fuel shortage. They also offer quick LNG transportation, which hastens the utilisation of FSRUs. These boats, which are moored in ports or float at sea, are where the LNG is regasified. Before being delivered to the final user, the LNG is next fed into the transmission network. FSRUs offer a quick, affordable, and flexible way to transport natural gas to customers. For end-to-end transportation, a floating LNG plant known as an FSRU can be easily deployed. Because an FSRU doesn't require a lot of infrastructure, using them reduces the need for end-user countries to establish a separate regasification unit. These competitive advantages that an FSRU offers, along with actions taken to enhance the adoption of clean fuels and reduce carbon emissions, are expected to fuel the growth of the FSRU market.
Between 2014 and 2020, the global production of crude oil did not decline, although there were still fluctuations in the price of the product. These changes have an effect on oil and gas E&P activities since they frequently rely on the income produced by sector participants. The decline in crude oil prices in 2014 and 2020 led to the suspension of a large number of exploration and production (E&P) activities. boosting the market revenue for FSRUs (Floating Storage and Regasification Units).
Leading market competitors are spending a lot of money on R&D to broaden their product offerings, which will spur further growth in the FSRU (Floating Storage and Regasification Unit) market. Important market developments include new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organisations. Market participants are also engaging in a number of strategic initiatives to increase their presence. The FSRU (Floating Storage and Regasification Unit) sector must provide affordable products if it hopes to grow and flourish in an increasingly competitive and challenging market environment.
Report Coverage
Global FSRU (Floating Storage and Regasification Unit) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global FSRU (Floating Storage and Regasification Unit) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and FSRU (Floating Storage and Regasification Unit) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key FSRU (Floating Storage and Regasification Unit) market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Excelerate Energy, Hoegh LNG, Golar LNG, BW gas, Gazprom FLEX LNG, Exmar, Maran Gas Maritime Inc., Offshore LNG Toscana SpA, Mitsui O.S.K. Lines, Bumi Armada, and Teekay Lng Partners, L.P |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of FSRU (Floating Storage and Regasification Unit) Market from 2021 to 2030.
- Market Forecast for FSRU (Floating Storage and Regasification Unit) Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, FSRU (Floating Storage and Regasification Unit) competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on FSRU (Floating Storage and Regasification Unit)
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global FSRU (Floating Storage and Regasification Unit) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, FSRU (Floating Storage and Regasification Unit) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Excelerate Energy, Hoegh LNG, Golar LNG, BW gas, Gazprom FLEX LNG, Exmar, Maran Gas Maritime Inc., Offshore LNG Toscana SpA, Mitsui O.S.K. Lines, Bumi Armada, and Teekay Lng Partners, L.P
Primary Target Market
- Market Players of FSRU (Floating Storage and Regasification Unit)
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global FSRU (Floating Storage and Regasification Unit) market based on the below-mentioned segments:
Global FSRU (Floating Storage and Regasification Unit) Market, By Construction
Newly Built
Converted
Global FSRU (Floating Storage and Regasification Unit) market, By Application
Industrial
Power Generation
Others
Global FSRU (Floating Storage and Regasification Unit) Market, By Storage
Small
Medium
Large
Global FSRU (Floating Storage and Regasification Unit) market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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