With an accelerating CAGR of 8.42%, the floating storage regasification unit (FSRU) market size is expected to post an incremental growth of 81.92 MT over the next five years. Stabilization of crude oil prices is one of the key trends that positively impacts the floating storage regasification unit (FSRU) market value. The market's growth trajectory is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. Unlock Sample Report
Floating Storage Regasification Unit (FSRU) Market: Segmentation
The floating storage regasification unit (FSRU) market is segmented by End-user (Power Generation, Industrial, and Others) and Geography (MEA, APAC, Europe, North America, and South America).
The power generation segment saw maximum growth in 2020. The demand for LNG has led to the deployment of FSRU, specifically in Asia and Europe, and drives the need for supplying natural gas to improve the efficiency of power generation projects. The growth of the segment will be significant during the forecast period.
The increase in offshore activities in Asia is one of the prime factors that will drive the floating storage regasification unit market growth in APAC over the forecast period. 47% of the market growth will originate from APAC during the forecast period. China is a key market for floating storage regasification units in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Floating Storage Regasification Unit (FSRU) Market: What are the Growth Drivers?
One of the primary factors that will drive floating storage regasification unit (FSRU) market growth is the cost competitiveness of FSRU. In addition, factors such as the increase in offshore gas exploration, and the extensive use of natural gas in the transportation sector will facilitate the market growth. However, growth in the number of alternatives may impede the growth of the market during the forecast period.
Floating Storage Regasification Unit (FSRU) Market: Vendor Analysis
The research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth along with a pipeline analysis of upcoming developments and growth opportunities Download the PDF Sample Report
Floating Storage Regasification Unit (FSRU) Market: Key Highlights of the Report for 2021-2025