Floating Storage Regasification Unit (FSRU) Market to grow by USD 805.25 million from 2022 to 2027

Aug 04, 2023

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23 Aug, 2023, 11:30 ET

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NEW YORK, Aug. 23, 2023 /PRNewswire/ -- The floating storage regasification unit (FSRU) market size is estimated to grow at a CAGR of 7.88% between 2022 and 2027 and the size of the market is forecast to increase by 805.25 million, according to Technavio. Stabilization of crude oil prices is the key trend in the market. Crude oil prices, from 2014 to 2020 have not fallen globally but crude oil prices continue to fluctuate. Such fluctuations have an impact on E&P performance because they are often dependent on industry profitability. Falling crude oil prices in 2014 and 2020 led to a halt in some E&P activities. Furthermore, steady crude oil prices suggest a pause in E&P activity. According to the IEA, natural gas is expected to account for more than 25% of the energy demand of the world by 2040. This natural gas growth forecast is expected to boost the growth of the market during the forecast period. View new Sample Report within minutes!

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our floating storage regasification unit (FSRU) market report covers the following areas:

This report extensively covers market segmentation by end-user (power generation, industrial, and others), type (newly built and converted), and geography (Middle East and Africa, APAC, Europe, North America, and South America)

Floating Storage Regasification Unit (FSRU) Market: Market Dynamics

Key driver -

The cost competitiveness of FSRU is the key driver for the growth floating storage regasification unit (FSRU) market. An FSRU mainly uses a hybrid ship for the transportation of LNG from its production plant to different regions across the globe. These ships offer a major solution to the problems such as shortage of fuel and help in meeting the power requirements across various end-users. Furthermore, FSRUs offer a fast, affordable, and flexible mode of transport of natural gas to customers. According to the IEA, the cost of building an FSRU with all necessary facilities is 40%-50% less compared to the price of an onshore LNG facility. This competitive advantage offered by an FSRU and rising the rate of adoption of clean fuels are expected to drive the growth of the FSRU market during the forecast period.

Significant Challenge -

Growth in the number of alternatives is a challenge that affects the growth of the market.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

We provide a detailed analysis of around 25 companies operating in the Floating Storage Regasification Unit (FSRU) Market, including some of the companies such as BUMI ARMADA BERHAD, BW Group, Dynagas Ltd., Eni SpA, Excelerate Energy Inc., Exmar NV, Flex LNG Ltd., Golar LNG Ltd., H Energy Group of Companies, Hoegh LNG Holdings Ltd., Jaya Samudra Karunia Group, Karadeniz Holding A.S., LNG Hrvatska d.o.o, MITSUI and CO. LTD., OLT Offshore LNG Toscana Spa, RWE AG, SENER GRUPO DE INGENIERIA SA, Swan Energy Ltd., Teekay Corp., and Trafigura Group Pte. Ltd. our research reports on the Floating Storage Regasification Unit (FSRU) Market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

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Floating Storage Regasification Unit (FSRU) Market 2023-2027: Key Highlights

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Floating Storage Regasification Unit (FSRU) Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.88%

Market growth 2023-2027

USD 805.25 million

Market structure

Fragmented

YoY growth 2022- 2023 (%)

7.31

Regional analysis

Middle East and Africa, APAC, Europe, North America, and South America

Performing market contribution

APAC at 41%

Key countries

US, Iran, Qatar, China, and Russia

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

BUMI ARMADA BERHAD, BW Group, Dynagas Ltd., Eni SpA, Excelerate Energy Inc., Exmar NV, Flex LNG Ltd., Golar LNG Ltd., H Energy Group of Companies, Hoegh LNG Holdings Ltd., Jaya Samudra Karunia Group, Karadeniz Holding A.S., LNG Hrvatska d.o.o, MITSUI and CO. LTD., OLT Offshore LNG Toscana Spa, RWE AG, SENER GRUPO DE INGENIERIA SA, Swan Energy Ltd., Teekay Corp., and Trafigura Group Pte. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio