FSRU (Floating Storage and Regasification Unit) Market Research Report – Forecast to 2027

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 2027

ID: MRFR/E&P/4700-HCR | February, 2021 | Region : Global

FSRU (Floating Storage and Regasification Unit) Market Scenario


FSRU market is expected to increase from 85 MTPA in 2018 to 230 MTPA in 2023, at a CAGR of approx. 13.88%, which is due to the increase in demand for natural gas.


The global Floating Storage and Regasification Unit (FSRU) market is expected to grow at a high rate and the main reason is the boom in the LNG (Liquified Natural Gas) market. This acts as a catalyst for the economic growth in various countries worldwide, as it is environment-friendly and viable to be adopted in a shorter period of time to reduce the carbon emissions. Recent discoveries in offshore regions have been made, which focu  s on fulfilment of the demand for various sectors, such as transportation, power generation as a feedstock for petrochemical manufacturers, and other end-users. FSRU market helps get natural gas on time and makes it readily available to local markets. Diversification in the market is prominent, fulfilling the demands for LNG and natural gas, globally. FSRU business is growing exponentially to meet the demand for green fuel.


The FSRU emerged nearly 15 years back in early 2000. There are currently 26 FSRUs in the world, out of which 23 are operated as terminals, three operated as LNG tankers, and approx. 11 are under construction. The main reason behind the growth of this industry is commercial flexibility, scheduling, and lower cost. Moreover, it attracts the countries, which have land constraints to construct any stationary onshore regasification facilities and it takes years to build, commission, and operate. Due to that, FSRU acts as a perfect solution because it can be deployed anywhere.  The cost of a new FSRU is just 50-60% of an onshore terminal and that is to be delivered in half the time.  An FSRU costs approx. USD 250-300 million, is constructed in 25- 40 months, and the specifications depend on the client requirements & location.


The CNG and LNG markets are evolving because of their low cost, low carbon emission, and easy transportation facilities. The factors driving the FSRU market growth are their mobility, technology feasibility, flexibility, and availability.  Service providers from various ventures have highly appreciated this trade due to the above-mentioned reasons.


Key Players


The key players in the global FSRU market are Excelerate Energy (U.S), Hoegh LNG (Bermuda), Golar LNG (Bermuda), BW gas (Norway), Gazprom FLEX LNG (U.K), Exmar (Belgium), Maran Gas Maritime Inc. (Greece), Offshore LNG Toscana SpA (Italy), Mitsui O.S.K. Lines (Japan) Bumi Armada (Malaysia), and Teekay Lng Partners, L.P. (Bermuda).


LNG is received through hoses or unloading arms and stored in tanks. The low-pressure pumps situated in storage tanks transfer LNG to the recondenser where it gets into contact with compressed boil-off gas from the storage tank, and the boil-off gas is condensed back into LNG before entering the high-pressure pumps. At every stage, fuel is measured to know about the losses. Pressure measurement is done at every stage of transferring the LNG, if required,   the pressure of LNG from approx. 5 bar g to 100 bar g raised as per the customer demand. Finally, the LNG is vaporized at export pressure, metered, and exported from export arms to the pipelines.


In terms of cost, the total capital cost of FSRU terminal consists of three major components, namely FSRU vessel, owner’s cost, and infrastructure cost whereas, the cost may be fluctuating according to service providers, client requirement, and specificity of location.


As per the demand, Asia Pacific is expected to be the largest FSRU market during the forecast period, due to the gas to power conversion unit often encouraging the use of natural gas on a large level.


Market Segmentation


 FSRU


Global FSRU Market


In 2016, Asia Pacific contributed approx. 160 MTPA to the global market. Thus, it can be predicted that it will have further growth during the forecast period. This growth was for the easy availability, accessibility, and flexibility from the supply side of LNG because of FRSUs. The Middle East has the maximum number of FSRU across the world and possess reserves that can fulfill the demand for LNG across the world.

Table of content

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Bargaining power of suppliers

3.1.4 Threat of substitutes

3.1.5 Segment rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global FSRU Market, By Construction

5.1 Introduction

5.2 Newly Built

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Converted

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

6 Global FSRU Market, By Storage

6.1 Introduction

6.2 Small

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Medium

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.4 Large

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast by Region, 2020-2027

7 Global FSRU Market, By Application

7.1 Introduction

7.2 Industrial

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2017-2023

7.3 Power Generation

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Others

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

8 Global FSRU Market, By Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.2.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.2.4 Market Estimates & Forecast by Application Type, 2020-2027

8.2.5 U.S.

8.2.5.1 Market Estimates & Forecast, 2020-2027

8.2.5.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.2.5.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.2.5.4 Market Estimates & Forecast by Application Type, 2020-2027

8.2.6 Canada

8.2.6.1 Market Estimates & Forecast, 2020-2027

8.2.6.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.2.6.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.2.6.4 Market Estimates & Forecast by Application Type, 2020-2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.3.3 Market Estimates & Forecast by Storage Type, 2017-2023

8.3.4 Market Estimates & Forecast by Application Type, 2017-2023

8.3.5 Norway

8.3.5.1 Market Estimates & Forecast, 2020-2027

8.3.5.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.3.5.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.3.5.4 Market Estimates & Forecast by Application Type, 2020-2027

8.3.6 Russia

8.3.6.1 Market Estimates & Forecast, 2017-2023

8.3.6.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.3.6.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.3.6.4 Market Estimates & Forecast by Application Type, 2020-2027

8.3.7 Rest of Europe

8.3.7.1 Market Estimates & Forecast, 2020-2027

8.3.7.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.3.7.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.3.7.4 Market Estimates & Forecast by Application Type, 2020-2027

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.4.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.4.4 Market Estimates & Forecast by Application Type, 2020-2027

8.4.5 China

8.4.5.1 Market Estimates & Forecast, 2020-2027

8.4.5.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.4.5.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.4.5.4 Market Estimates & Forecast by Application Type, 2020-2027

8.4.6 Australia

8.4.6.1 Market Estimates & Forecast, 2020-2027

8.4.6.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.4.6.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.4.6.4 Market Estimates & Forecast by Application Type, 2020-2027

8.4.7 Indonesia

8.4.7.1 Market Estimates & Forecast, 2020-2027

8.4.7.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.4.7.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.4.7.4 Market Estimates & Forecast by Application Type, 2020-2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020-2027

8.4.8.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.4.8.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.4.8.4 Market Estimates & Forecast by Application Type, 2020-2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.5.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.5.4 Market Estimates & Forecast by Application Type, 2020-2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.6.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.6.4 Market Estimates & Forecast by Application Type, 2020-2027

8.7 Rest of the World

8.7.1 Market Estimates & Forecast, 2020-2027

8.7.2 Market Estimates & Forecast by Construction Type, 2020-2027

8.7.3 Market Estimates & Forecast by Storage Type, 2020-2027

8.7.4 Market Estimates & Forecast by Application Type, 2020-2027

9 Competitive Landscape

10 Company Profile

10.1 Excelerate Energy

10.1.1 Company Overview

10.1.2 Product/Services Offering

10.1.3 Financial Overview

10.1.4 Key Developments

10.1.5 Strategy

10.1.6 SWOT Analysis

10.2 Hoegh LNG

10.2.1 Company Overview

10.2.2 Product /Services Offering

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 Strategy

10.2.6 SWOT Analysis

10.3 Golar LNG

10.3.1 Company Overview

10.3.2 Product /Services Offering

10.3.3 Financial Overview

10.3.4 Key Developments

10.3.5 Strategy

10.3.6 SWOT Analysis

10.4 BW gas

10.4.1 Company Overview

10.4.2 Product /Services Offering

10.4.3 Financial Overview

10.4.4 Key Developments

10.4.5 Strategy

10.4.6 SWOT Analysis

10.5 Gazprom

10.5.1 Company Overview

10.5.2 Product /Services Offering

10.5.3 Financial Overview

10.5.4 Key Developments

10.5.5 Strategy

10.5.6 SWOT Analysis

10.6 FLEX LNG

10.6.1 Company Overview

10.6.2 Product /Services Offering

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 Strategy

10.6.6 SWOT Analysis

10.7 EXMAR

10.7.1 Company Overview

10.7.2 Product /Services Offering

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 Strategy

10.7.6 SWOT Analysis

10.8 Maran Gas Maritime

10.8.1 Company Overview

10.8.2 Product /Services Offering

10.8.3 Financial Overview

10.8.4 Key Developments

10.8.5 Strategy

10.8.6 SWOT Analysis

10.9 OLT

10.9.1 Company Overview

10.9.2 Product /Services Offering

10.9.3 Financial Overview

10.9.4 Key Developments

10.9.5 Strategy

10.9.6 SWOT Analysis

10.10 MOL

10.10.1 Company Overview

10.10.2 Product /Services Offering

10.10.3 Financial Overview

10.10.4 Key Developments

10.10.5 Strategy

10.10.6 SWOT Analysis

10.11 Bumi Armada

10.11.1 Company Overview

10.11.2 Product /Services Offering

10.11.3 Financial Overview

10.11.4 Key Developments

10.11.5 Strategy

10.11.6 SWOT Analysis

10.12 Teekay LNG

10.12.1 Company Overview

10.12.2 Product /Services Offering

10.12.3 Financial Overview

10.12.4 Key Developments

10.12.5 Strategy

10.12.6 SWOT Analysis

11 Conclusion

12 Appendix

List of Tables

Table 1 Global FSRU Market: By Region, 2020-2027

Table 2 North America FSRU Market: By Country, 2020-2027

Table 3 Europe FSRU Market: By Country, 2020-2027

Table 4 Asia Pacific FSRU Market: By Country, 2020-2027

Table 5 RoW FSRU Market: By Country, 2020-2027

Table 6 Global FSRU Market by Construction Market: By Regions, 2020-2027

Table 7 North America FSRU Market by Construction: By Country, 2020-2027

Table 8 Europe FSRU Market by Construction: By Country, 2020-2027

Table 9 Asia Pacific FSRU Market by Construction: By Country, 2020-2027

Table 10 RoW FSRU Market by Construction: By Country, 2020-2027

Table 10 Global FSRU Market, by Storage, By Regions, 2020-2027

Table 12 North America FSRU Market, by Storage, By Country, 2020-2027

Table 13 Europe FSRU Market, by Storage, By Country, 2020-2027

Table 14 Asia Pacific FSRU Market, by Storage, By Country, 2020-2027

Table 15 RoW FSRU Market, by Storage, By Country, 2020-2027

Table 16 Global FSRU Market, by Application, By Regions, 2020-2027

Table 17 North America FSRU Market, by Application, By Country, 2020-2027

Table 18 Europe FSRU Market, by Application, By Country, 2020-2027

Table 19 Asia Pacific FSRU Market, by Application, By Country, 2020-2027

Table 20 RoW FSRU Market, by Application, By Country, 2020-2027

Table 21 Global FSRU Market: By Region, 2020-2027

Table 22 Global FSRU Market: By Region, 2020-2027

Table 23 Global FSRU Market: By Region, 2020-2027

Table 24 North America FSRU Market, By Country

Table 25 North America FSRU Market, by Construction

Table 26 North America FSRU Market, By Storage

Table 27 North America FSRU Market, By Application

Table 28 Europe: FSRU Market, By Country

Table 29 Europe: FSRU Market, by Construction

Table 30 Europe: FSRU Market, By Storage

Table 31 Europe: FSRU Market, By Application

Table 32 Asia Pacific: FSRU Market, By Country

Table 33 Asia Pacific: FSRU Market, by Construction

Table 34 Asia Pacific: FSRU Market, By Storage

Table 35 Asia Pacific: FSRU Market, By Application

Table 36 RoW: FSRU Market, By Region

Table 37 RoW: FSRU Market, by Construction

Table 38 RoW: FSRU Market, By Storage

Table 39 RoW: FSRU Market, By Application




List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL FSRU MARKETSHARE, BY CONSTRUCTION, 2020 (%)

FIGURE 9 GLOBAL FSRU MARKET, BY CONSTRUCTION, 2020-2027 (USD MILLION)

FIGURE 10 GLOBAL FSRU MARKETSHARE, BY STORAGE, 2020 (%)

FIGURE 11 GLOBAL FSRU MARKET, BY STORAGE, 2020-2027 (USD MILLION)

FIGURE 12 GLOBAL FSRU MARKET SHARE (%), BY REGION, 2020

FIGURE 13 GLOBAL FSRU MARKET, BY REGION, 2020-2027 (USD MILLION)

FIGURE 14 NORTH AMERICA FSRU MARKETSHARE (%), 2020

FIGURE 15 NORTH AMERICA FSRU MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 16 EUROPE FSRU MARKETSHARE (%), 2020

FIGURE 17 EUROPE FSRU MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 18 ASIA PACIFIC FSRU MARKETSHARE (%), 2020

FIGURE 19 ASIA PACIFIC FSRU MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 20 REST OF THE WORLD FSRU MARKETSHARE (%), 2020

FIGURE 21 REST OF THE WORLD FSRU MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FSRU Market