Floating Storage Regasification Unit FSRU Market Report 2025 (Global Edition)

Global Floating Storage Regasification Unit FSRU Market Report 2025 Market Size Split by Heating Outlook: (Open Looped, Closed-roofed, IFV, Floating, Others), by Application Outlook: (Supply Natural G...

Floating Storage Regasification Unit FSRU Market Report Description

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Competitive Landscape of the Floating Storage Regasification Unit (FSRU) Market

The Floating Storage Regasification Unit (FSRU) market is characterized by intense competition, with several key players striving to enhance their market position through technological advancements, strategic partnerships, and new project developments. Major companies in the market include Höegh LNG, Excelerate Energy, Golar LNG, BW LNG, and MOL (Mitsui O.S.K. Lines), among others.

In October 2024, Excelerate Energy entered into a partnership with PetroVietnam Technical Services Corporation (PTSC) to explore FSRU-based solutions in Vietnam. The collaboration aims to conduct joint feasibility studies assessing the viability of deploying FSRUs to support Vietnam's growing energy needs, reflecting Excelerate's commitment to expanding its presence in Southeast Asia. (Source: https://excelerateenergy.com/news/excelerate-energy-and-ptsc-enter-partnership-to-study-fsru-based-solutions-in-vietnam/) In December 2024, the Lithuanian state-owned company KN Energies officially purchased the FSRU 'Independence' from Norwegian company Höegh LNG for USD 153.5 million. The vessel was subsequently registered under the Lithuanian flag, marking a significant step in Lithuania's efforts to secure energy independence and strengthen its LNG import capabilities. (Source: https://www.kn.lt/en/news/news/lithuania-takes-ownership-of-fsru-independence-national-flag-raised-aboard/8916)

Top Companies Market Share in Floating Storage Regasification Unit FSRU Industry: (In no particular order of Rank)

• Trafigura
• Golar LNG
• HOEGH LNG
• EXMAR
• Excelerate energy Ltd.
• BW Gas
• Bumi Armada
• FLEX LNG
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Regional Analysis of the Floating Storage Regasification Unit (FSRU) Market

Which Region Dominates the Floating Storage Regasification Unit (FSRU) Market in 2024?

According to Cognitive Market Research, North America dominates the Floating Storage Regasification Unit (FSRU) market due to its advanced energy infrastructure, increasing demand for natural gas, and strategic focus on energy exports. The region benefits from abundant natural gas reserves, particularly from shale gas production, which drives the need for flexible LNG storage and regasification solutions.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is the fastest-growing region in the Floating Storage Regasification Unit (FSRU) market due to its surging energy demand, rapid urbanization, and a strong shift towards cleaner energy sources like LNG. Countries such as China, India, and Southeast Asian nations are investing in FSRUs to meet rising energy needs while reducing reliance on coal and oil. Limited onshore LNG infrastructure in many developing economies makes FSRUs a cost-effective and flexible solution.

The current report Scope analyzes Floating Storage Regasification Unit FSRU Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Floating Storage Regasification Unit FSRU Market Analysis

According to Cognitive Market Research, the global Floating Storage Regasification Unit (FSRU) market size was estimated at USD 862.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 345.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Floating Storage Regasification Unit (FSRU) market with a market size of USD 272.21million in 2024 and is projected to grow at a CAGR of 7.0%during the forecast period. The U.S. market's increasing demand for flexible and cost-effective LNG solutions.
• The Canada Floating Storage Regasification Unit (FSRU) market had a market share of USD 41.40million in 2024 and is projected to grow at a CAGR of 8.0%during the forecast period. Canada’s increasing demand for flexible and cost-effective LNG solutions.
• The Mexico Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 31.40million in 2024.

Europe Floating Storage Regasification Unit FSRU Market Analysis

According to Cognitive Market Research, the global Floating Storage Regasification Unit (FSRU) market size was estimated at USD 862.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 258.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

• The United Kingdom Floating Storage Regasification Unit (FSRU) market had a market share of USD 43.47million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. In the UK, Floating Storage Regasification Unit (FSRU) sales witness an upswing due to the strategic shift toward diversifying energy imports and reducing dependence on traditional gas pipelines.
• The France Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 23.81million in 2024.
• According to Cognitive Market Research, the German Floating Storage Regasification Unit (FSRU) market size was valued at USD 51.23million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. In Germany, Floating Storage Regasification Unit (FSRU) surged due to the strategic shift toward diversifying energy imports and reducing dependence on traditional gas pipelines.
• The Italy Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 22.25million in 2024.
• The Russia Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 40.11million in 2024.
• The Spain Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 21.22million in 2024
• The Luxembourg Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 8.02million in 2024.
• The Portugal Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 5.43million in 2024.
• The Greece Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 3.11million in 2024.
• The Rest of Europe's Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 40.11million in 2024.

Asia Pacific Floating Storage Regasification Unit FSRU Market Analysis

According to Cognitive Market Research, the global Floating Storage Regasification Unit (FSRU) market size was estimated at USD 862.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 198.38 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Floating Storage Regasification Unit (FSRU) market size was valued at USD 89.27million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Floating Storage Regasification Unit (FSRU) surged in China due to rising energy consumption, urbanization, and the region’s efforts to transition to cleaner fuel sources.
• The Japan Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 27.38million in 2024.
• The India Floating Storage Regasification Unit (FSRU) market had a market share of USD 23.81million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period. India's rising energy consumption, urbanization, and the region’s efforts to transition to cleaner fuel sources.
• The South Korean Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 19.84million in 2024.
• The Australian Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 10.32million in 2024.
• The South East Asia Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 13.69million in 2024.
• The Rest of Asia Pacific Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 14.08million in 2024.

South America Floating Storage Regasification Unit FSRU Market Analysis

According to Cognitive Market Research, the global Floating Storage Regasification Unit (FSRU) market size was estimated at USD 862.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 43.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Floating Storage Regasification Unit (FSRU) market size was valued at USD 18.46million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Floating Storage Regasification Unit (FSRU)s flourished in Brazil due to enhance energy security and reduce dependency on traditional energy infrastructure.
• Argentina's Floating Storage Regasification Unit (FSRU) market had a market share of USD 7.25million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. Argentina's enhance energy security and reduce dependency on traditional energy infrastructure.
• Colombia Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 3.84million in 2024.
• Peru Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 3.54million in 2024.
• Chile Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 3.11million in 2024.
• The Rest of Latin America's Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 6.94million in 2024.

Middle East Floating Storage Regasification Unit FSRU Market Analysis

According to Cognitive Market Research, the global Floating Storage Regasification Unit (FSRU) market size was estimated at USD 862.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 17.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031..

• The GCC Countries Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 7.38million in 2024. Floating Storage Regasification Unit (FSRU) sales flourish due to the increasing demand for flexible LNG infrastructure and the region’s ongoing efforts to diversify energy sources.
• The Egypt Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 1.81million in 2024.
• The South Africa Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 2.73million in 2024. Floating Storage Regasification Unit (FSRU) sales flourished in South Africa due to increasing demand for flexible LNG infrastructure and the region’s ongoing efforts to diversify energy sources.
• The Turkey Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 1.48million in 2024.
• The Nigeria Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 1.81million in 2024.
• The Rest of the MEA Floating Storage Regasification Unit (FSRU) market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 2.04million in 2024.

Floating Storage Regasification Unit FSRU Market Analysis

How are Segments Performing in the Global Floating Storage Regasification Unit (FSRU) Market?

Floating Storage Regasification Unit (FSRU) Market Heating Segment Analysis

According to Cognitive Market Research, The Open-Loop Heating segment dominates the Floating Storage Regasification Unit (FSRU) market due to its energy efficiency and cost-effectiveness. Open-loop systems leverage seawater as a natural heat exchange medium, reducing reliance on external fuel sources for heating. This design is particularly popular in regions with warm water temperatures, as it enhances operational efficiency. Its relatively simple structure and lower operational costs make it the preferred choice for many operators.

The IFV Heating segment is the fastest-growing in the FSRU market due to its environmental benefits and adaptability. IFV systems use an intermediate fluid to transfer heat, reducing direct emissions and minimizing environmental impact compared to other heating methods. This makes them highly attractive in regions with strict environmental regulations. Their ability to operate effectively in diverse temperature conditions also contributes to their rapid adoption.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Floating Storage Regasification Unit FSRU Industry. Request a Free Sample PDF!

Floating Storage Regasification Unit (FSRU) Market Application Segment Analysis

According to Cognitive Market Research, the Supply of Natural Gas segment is the dominant application in the Floating Storage Regasification Unit (FSRU) market due to the global rise in LNG demand as a cleaner energy source. FSRUs provide a cost-effective and flexible solution for importing natural gas, especially in regions lacking extensive onshore infrastructure. These units enable quick deployment and adaptability to fluctuating energy needs, making them essential for energy security.

The Hydrocarbon Production segment is the fastest-growing application in the FSRU market, fueled by its increasing use in offshore energy projects. FSRUs facilitate efficient regasification and storage for hydrocarbon production activities, ensuring a steady supply of LNG for extraction and processing operations. This application is gaining traction in regions with robust offshore energy exploration, where FSRUs act as an economical alternative to permanent infrastructure.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Floating Storage Regasification Unit FSRU End User Outlook: Segment Analysis

Floating Storage Regasification Unit (FSRU) Market End User Segment Analysis

According to Cognitive Market Research, The Oil & Gas Industry segment dominates the Floating Storage Regasification Unit (FSRU) market due to its critical role in LNG regasification and storage for energy supply. FSRUs offer a cost-effective and efficient solution for meeting the industry's increasing demand for natural gas, particularly in regions transitioning from coal and oil to cleaner energy. Their flexibility in deployment and scalability aligns well with the oil and gas sector’s operational needs.

The Marine segment is the fastest-growing end-user in the FSRU market, driven by the increasing adoption of LNG as a marine fuel. Stricter regulations on sulfur emissions, such as IMO 2020, have accelerated the shift toward LNG-powered ships, boosting demand for FSRUs in maritime applications. These units enable efficient LNG storage and regasification to support fueling operations at ports and offshore facilities.

• Oil & Gas Industry
• Marine
• Transportation
• Others

Floating Storage Regasification Unit FSRU Storage Segment Analysis

• Small
• Medium
• Large

Floating Storage Regasification Unit FSRU Construction Segment Analysis

• Newly Built
• Converted

Floating Storage Regasification Unit FSRU Depth Segment Analysis

• Shallow Water FSRU
• Deep Water FSRU

Author's Detail

Aarti Bagekari

Research Associate at Cognitive Market Research

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I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.

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