info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

FSRU Market Analysis

ID: MRFR//4700-HCR | 100 Pages | Author: Anshula Mandaokar| October 2024

The Floating Storage and Regasification Unit (FSRU) market has witnessed a huge increase and evolving market dynamics in recent years. FSRUs play a pivotal function inside the liquefied herbal gas (L.N.G.) supply chain by offering a bendy and fee-powerful solution for the import and regasification of L.N.G. The marketplace dynamics of FSRUs are influenced by various factors that shape their boom trajectory.
One key driving force of the FSRU market is the growing demand for herbal gas globally. As countries seek cleaner and more sustainable electricity assets, the demand for L.N.G. has risen, riding the need for efficient and adaptable regasification infrastructure. FSRUs offer a cellular and short-to-set-up solution, allowing countries to meet their developing electricity needs without the sizable lead instances related to conventional onshore infrastructure. Market dynamics are, in addition, encouraged with the aid of the development of L.N.G. as a worldwide commodity. The emergence of L.N.G. spot markets has created opportunities for FSRU operators and buyers to take part in short-term and bendy L.N.G. buying and selling. FSRUs permit quick access to L.N.G. import and regasification facilities, aligning with the dynamic nature of spot market transactions and allowing for more agile choice-making in response to marketplace conditions.
However, challenges exist in the FSRU market that affect its dynamics. Financing and investment considerations, regulatory frameworks, and environmental worries are a few of the elements that could either propel or hinder the boom of FSRUs in unique regions. Governments and industry stakeholders want to work collaboratively to cope with those demanding situations, fostering an environment conducive to the sustainable improvement of FSRU initiatives.
In the end, the marketplace dynamics of FSRUs mirror a complex interplay of factors together with international power demand, geopolitical considerations, technological advancements, and market traits in L.N.G. buying and selling. FSRUs have emerged as an important component of the L.N.G. supply chain, supplying a bendy and green answer for the import and regasification of L.N.G. As the sector maintains its transition closer to cleanser strength assets, FSRUs are poised to play a pivotal position in the assembly of the evolving needs of the global natural gas market.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Construction, Storage, Application, and Region

Global FSRU (Floating Storage and Regasification Unit) Market Overview:


FSRU (Floating Storage and Regasification Unit) Market size was valued at USD 1.9 Billion in 2022. The FSRU (Floating Storage and Regasification Unit) market industry is projected to grow from USD 2.1 Billion in 2023 to USD 3.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.90% during the forecast period (2024 - 2032). The cost-effectiveness of FSRUs, rising natural gas demand, and stabilising prices for crude oil globally, are the key market drivers enhancing the market growth.


FSRU (Floating Storage and Regasification Unit) Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


FSRU (Floating Storage and Regasification Unit) Market Trends




  • Cost Competitiveness of FSRUs is driving the market growth




Building an FSRU costs about USD 300 million, which is nearly half as much as building an onshore facility. These FSRUS are also cost-competitive and time-sensitive because they can be operational in a year, which is at least 6 times faster than an onshore facility of a similar scale. Both emerging nations and developed nations on the LNG market are able to quickly build their regasification facilities thanks to this cost competitiveness. As an illustration, Croatia, a nation with a developing LNG market, began importing LNG by putting in place its first FSRU with a 1.9 MTPA capacity. Similar to this, Brazil and India, two nations with established LNG markets, have increased the capacity of their regasification facilities by starting up two and one FSRU, respectively. India recently (March 2022) received its first FSRU vessel, which docked at the Jaigarh terminal of H Energy Group in Maharashtra. The new FSRU has an established regasification capability of 750 million cubic feet per day and a storage capacity of 170,000 cubic metres.


A hybrid shipping vessel is used by an FSRU to transfer LNG from the point of production to various locations across the globe. These ships help meet the electricity needs of diverse end users and provide a solution to the fuel scarcity. Additionally, they provide rapid LNG transportation, which accelerates the use of FSRUs. The LNG is regasified on board these vessels, which are moored in ports or float at sea. The LNG is then pumped into the transmission network before being transported to the final consumer. A quick, inexpensive, and adaptable method of delivering natural gas to customers is provided by FSRUs. A floating LNG facility known as an FSRU can be quickly deployed for end-to-end transportation. The usage of FSRUs lessens the requirement for end-user countries to create a separate regasification unit because an FSRU does not require significant infrastructure. The expansion of the FSRU market is anticipated to be fueled by these competitive advantages provided by an FSRU as well as initiatives taken to increase the adoption of clean fuels and lower carbon emissions.


The quantity of barrels per day (bpd) of crude oil did not decrease internationally from 2014 to 2020, however there were still swings in the price of the commodity. Oil and gas E&P activities are impacted by these variations since they often depend on the revenue generated by industry participants. Many exploration and production (E&P) activities were suspended as a result of the drop in crude oil prices in 2014 and 2020. Thus, driving the FSRU (Floating Storage and Regasification Unit) market revenue.


FSRU (Floating Storage and Regasification Unit) Market Segment Insights:


FSRU (Floating Storage and Regasification Unit) Construction Insights


The FSRU (Floating Storage and Regasification Unit) market segmentation, based on Construction, includes newly built and converted. Newly built segment dominated the market in 2022. This is as a result of the rising natural gas demand.


FSRU (Floating Storage and Regasification Unit) Storage Insights


The FSRU (Floating Storage and Regasification Unit) market segmentation, based on Storage, includes small, medium, and large. Medium segment dominated the market in 2022. During the projected period, medium storage type is anticipated to expand at the greatest CAGR. Since most FSRU (Floating Storage and Regasification Unit) vessels used recently are of a medium size, the demand for FSRU units with a medium storage capacity is anticipated to be stable over the course of the forecast year.


FSRU (Floating Storage and Regasification Unit) Application Insights


The FSRU (Floating Storage and Regasification Unit) market segmentation, based on Application, includes Industrial, Power Generation, and Others. Power generation segment dominated the FSRU (Floating Storage and Regasification Unit) market in 2022. This is due to an increase in LNG demand for power generation projects around the world.


Figure 1: FSRU (Floating Storage and Regasification Unit) Market, by Application, 2024 & 2032 (USD Billion)


FSRU (Floating Storage and Regasification Unit) Market, by Application, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


FSRU (Floating Storage and Regasification Unit) Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America FSRU (Floating Storage and Regasification Unit) Market dominated this market in 2022 (45.80%). The fact that LNG is widely available for production and a significant supplier to the world is responsible for this increase. Further, the U.S. FSRU (Floating Storage and Regasification Unit) market held the largest market share, and the Canada FSRU (Floating Storage and Regasification Unit) market was the fastest growing market in the North America region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: FSRU (Floating Storage And Regasification Unit) Market Share By Region 2022 (USD Billion)


FSRU (Floating Storage And Regasification Unit) Market Share By Region 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe FSRU (Floating Storage and Regasification Unit) market accounted for the healthy market share in 2022. This development is linked to the readily available and significant supply of LNG for production. Further, the German FSRU (Floating Storage and Regasification Unit) market held the largest market share, and the U.K FSRU (Floating Storage and Regasification Unit) market was the fastest growing market in the European region


The Asia Pacific FSRU (Floating Storage and Regasification Unit) market is expected to register significant growth from 2023 to 2032. Countries in the Asia-Pacific area have LNG markets that are both emerging and well-established. For instance, the LNG markets of China, India, South Korea, Japan, and Australia are well-established, whereas those of Indonesia, Pakistan, and Bangladesh are still in the early stages of development. Moreover, China’s FSRU (Floating Storage and Regasification Unit) market held the largest market share and the Indian FSRU (Floating Storage and Regasification Unit) market was the fastest growing market in the Asia-Pacific region.


FSRU (Floating Storage and Regasification Unit) Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the FSRU (Floating Storage and Regasification Unit) market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, FSRU (Floating Storage and Regasification Unit) industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the FSRU (Floating Storage and Regasification Unit) industry to benefit clients and increase the market sector. In recent years, the FSRU (Floating Storage and Regasification Unit) industry has offered some of the most significant advantages to medicine. Major players in the FSRU (Floating Storage and Regasification Unit) market, including 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, are attempting to increase market demand by investing in research and development Applications.


A multinational corporation called Karpowership owns and manages the only and largest fleet of floating power plants in the world, which consists of 36 Powerships and generates over 5000 MW of electricity for use in Latin America, the Pacific, Africa, and Europe. To provide LNG-to-power energy solutions to the nation, Karpowership South Africa has been founded as a totally autonomous local business. Before travelling to Rio de Janeiro in April 2022, Karpowership South Africa displayed a floating storage regasification unit (FSRU) ship in Cape Town.


An integrated oil and gas corporation is Helleniq Energy Holdings SA (Helleniq Energy), formerly known as Hellenic Petroleum Holdings SA. It uses a network of gas stations to refine, supply, sell, and market oil products, natural gas, and fuels in Greece and South-Eastern European markets. Greece's largest vertically integrated petrochemicals facility is owned and run by the corporation. Additionally, the business manufactures and refines polypropylene, propylene, solvents, and inorganics. Through import pipelines and the Revithoussa LNG terminal, it manages natural gas power plants and supplies, transports and trades natural gas. Additionally, it offers engineering and consultancy services to clients in Southeast Europe and holds stakes in a number of renewable energy installations. The main office of Helleniq Energy is in Maroussi, Greece. Ellison, a company owned by Edison in Italy and Hellenic Petroleum, will take the lead in advancing Greece's position. By putting in place a separate Floating Storage Regasification Unit in Thessaloniki, it will provide the shipping of liquefied natural gas to Europe. The business has asked the Regulatory Authority for Energy for an FSRU licence. By 2025, the project will be operational and will be developed in the Thermaikos Gulf off Thessaloniki.


Key Companies in the FSRU (Floating Storage and Regasification Unit) market include



  • 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

  • Teekay Lng Partners, L.P


FSRU (Floating Storage and Regasification Unit) Industry Developments


April 2022: In 2022, the Executive Committee of EXMAR NV released its first-quarter results. It has a contract in place for the regasification barge FSRU USD 188 with GASUNIE.


FSRU (Floating Storage and Regasification Unit) Market Segmentation


FSRU (Floating Storage and Regasification Unit) Construction Outlook



  • Newly Built

  • Converted


FSRU (Floating Storage and Regasification Unit) Storage Outlook



  • Small

  • Medium

  • Large


FSRU (Floating Storage and Regasification Unit) Application Outlook



  • Industrial

  • Power Generation

  • Others


FSRU (Floating Storage and Regasification Unit) Regional Outlook




  • North America

    • U.S.

    • Canada




  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific




  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.