Global Market Study on FSRU (Floating Storage & Regasification Unit): Increasing Need for LNG Import Infrastructure to Cater to Growing Energy Demand to Favor Growth


Fsru  Market
  • Published On : Dec-2018 |
  • Pages : 181 Pages |
  • Format :

Persistence Market Research (PMR) analyzes the floating storage regasification unit (FSRU) market in its new publication titled “Floating Storage Regasification Unit Market Global Industry Analysis 2013–2017 and Forecast 2018–2026”. This global market study provides data for 2017 along with a forecast for the period 2018–2026. The main objective of the global floating storage regasification unit (FSRU) report is to identify the dynamics in the global market and provide current insights and update that affect the various segments of the global floating storage regasification unit (FSRU) market. To provide a better understanding of the floating storage regasification unit (FSRU) market, the global report also includes the in-depth analysis of global market dynamics, i.e. drivers, restraints, trends and opportunities.

Persistence Market Research’s solution is focused towards helping clients make profitable decisions & to give a clear vision towards return on investment pertaining to the global study on the floating storage regasification unit (FSRU) market. The research on floating storage regasification unit (FSRU) offers insights and deep-dive study at global as well as regional levels. This global report on the floating storage regasification unit (FSRU) market covers the crucial factors projected to increase the sales of floating storage regasification unit (FSRU), coupled with futuristic opportunities for the floating storage regasification unit (FSRU) charter as well as drivers, developments and trends shaping the dynamics in the floating storage regasification unit (FSRU) market and other important insights across various key segments. The global floating storage regasification unit (FSRU) report covers diverse sections, i.e. executive summary, analysis and forecast, competition assessment, assumptions & acronyms and research methodology.

 Persistence Market Research’s solutions include: 

  • A scenario-based approach to form an appropriate forecast in terms of global floating storage regasification unit (FSRU) sales, calculation of the impact of various factors on the global floating storage regasification unit (FSRU) market
  • Overview of the trade volume and fundamental requirement and easy approach for the entire category of market participants across the value chain of the global floating storage regasification market

The global floating storage regasification unit (FSRU) market has been segmented on the basis of regasification capacity, storage capacity, platform, design and region/country.

Segmentation of the global floating storage regasification unit (FSRU) market by regasification capacity:

  • Less Than 2.5 MTPA
  • 5- 5.5 MTPA
  • Above 5.5 MTPA

Segmentation of the global floating storage regasification unit (FSRU) market by storage capacity:

  • Up to 140,000 m3
  • 140,000 to 180,000 m3
  • Above 180,000 m3

Segmentation of the global floating storage regasification unit (FSRU) market by platform:

  • Offshore Terminal
  • Inshore Terminal

Segmentation of the global floating storage regasification unit (FSRU) market by design:

  • Barge Based
  • Carrier Vessel Based

Segmentation of the global floating storage regasification unit (FSRU) market by region/country:

  • Americas
  • Asia Pacific
  • Europe
  • Middle East and Africa

To understand and assess the opportunities and trends in the global floating storage regasification unit (FSRU) market, the global floating storage regasification unit market has been categorized by regasification capacity, storage capacity, platform, design and region/country. The global floating storage regasification unit (FSRU) market report starts with an overview of the floating storage regasification unit (FSRU) market and provides market definitions, together with the value chain and market dynamics in the market.

The sections that follow include the global floating storage regasification unit (FSRU) market analysis by regasification capacity, storage capacity, platform, design and region/country. All the above sections evaluate the floating storage regasification unit market on the basis of various factors affecting the floating storage regasification unit (FSRU) market. Each section discusses the qualitative and quantitative aspects of the global floating storage regasification unit market.

To give a systematic method for revenue generation through mentioned opportunity in the global report by regasification capacity, storage capacity, platform, design and region/country, this global floating storage regasification unit (FSRU) report also provides the market size in terms of value (US$ Mn) and volume (Units), total incremental opportunity (US$ Mn), and absolute $ opportunity (US$ Mn) for each segment throughout the forecast period.

In the final section of the floating storage regasification unit (FSRU) market report, we have provided the global floating storage regasification unit (FSRU) market structure analysis and a detailed competition landscape with company market share and performance to provide a competitive dashboard view of key players operating in the global floating storage regasification unit (FSRU) market along with their business strategies. This is expected to enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly. Detailed profiles of the providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the floating storage regasification unit (FSRU) market. Examples of some of the key competitors covered in the report include Citec Group Oy Ab, BW LPG Limited, Leif Höegh & Co, EXMAR NV, FLEX LNG Management AS, Excelerate Energy L.P., Keppel Offshore & Marine Ltd, PSA Marine (Pte) Ltd., COSCO SHIPPING International (Hong Kong) Co., Ltd., Gaztransport & Technigaz, SENER Group, MITSUI & CO., LTD., Golar LNG Limited, Ochre Energy and NextDecade Corporation.   

The FSRU (Floating Storage & Regasification Unit) market report offers comprehensive information about market dynamics, market trends, value (US$ Mn) and volume (number of new units deployed) projections, competition and recent developments in the global FSRU (Floating Storage & Regasification Unit) market for the study period 2013 to 2026.

The global FSRU (Floating Storage & Regasification Unit) market is projected to grow at a CAGR of 8.7% by value during the forecast period (2018-2026). Growing natural gas production, owing to the shale gas revolution and consequently falling prices, increasing global LNG trade and rising LNG import demand from power plant and automotive sectors are some of the factors driving the growth of the global FSRU (Floating Storage & Regasification Unit) market.

140,000 to 180,000 m3 Storage Capacity Segment to witness Consistent Demand in the FSRU (Floating Storage & Regasification Unit) Market

On the basis of storage capacity, the FSRU (Floating Storage & Regasification Unit) market has been categorized into the following segments: Up to 140,000 m3, 140,000 to 180,000 m3 and Above 180,000 m3. In the early days of the FSRU (Floating Storage & Regasification Unit) market, most of the vessels were converted LNG carriers with storage capacities mostly confined to 140,000 m3. However, over the past few years, there has been a rise in the number of new FSRU (Floating Storage & Regasification Unit) vessels, given the storage capacity constraints associated with converting previous generation LNG carriers. Most of the FSRU (Floating Storage & Regasification Unit) vessels that have been deployed in the past one year and current year (2018) have a storage capacity of nearly 170,000 m3, a trend which is projected to hold during the forecast period as well. Thus, the FSRU (Floating Storage & Regasification Unit) market is projected to witness consistent demand for the 140,000 to 180,000 m3 segment during the forecast period.   

The 140,000 to 180,000 m3 segment of the FSRU (Floating Storage & Regasification Unit) market is projected account for an absolute dollar opportunity of US$ 928 Million during the forecast period.

Inshore Terminal Segment to Create Significant Market Opportunities as Demand from Near Shore and Port Based FSRU (Floating Storage & Regasification Unit) Increases

The FSRU (Floating Storage & Regasification Unit) market has been segmented on the basis of platform into Offshore Terminal and Inshore Terminal. FSRU (Floating Storage & Regasification Unit) vessels are either moored near to the shoreline or else anchored using special buoy systems at offshore locations not near to the shore due to port congestion or other technical reasons. The location of mooring a FSRU (Floating Storage & Regasification Unit) is decided based on detailed geo-technical and other types of analysis and feasibility studies undertaken during the planning phase of projects. With the growing use of FSRU (Floating Storage & Regasification Unit) terminals for gas power plants, the market for the inshore terminal segment is growing at a fast rate. The offshore terminal segment of the FSRU (Floating Storage & Regasification Unit) market faces the restraints of additional costs as well as vulnerability to weather conditions.    

The inshore terminal segment of the FSRU (Floating Storage & Regasification Unit) market is projected to account for an absolute $ opportunity of more than US$ 700 Million between 2018 and 2026.

Barge-based FSRU (Floating Storage & Regasification Unit) Vessels are witnessing new Demand Pockets, while Carrier-Based Vessels will maintain a Strong Share 

The FSRU (Floating Storage & Regasification Unit) market has been segmented on the basis of design into barge-based and carrier vessel-based segments. The carrier vessel-based FSRU (Floating Storage & Regasification Unit) segment dominated the market and is projected to continue to be the leading choice among end users and operators. However, barge-based FSRU (Floating Storage & Regasification Unit) vessels are finding space for installations where small-scale LNG import is required. Also, the barge-based FSRU (Floating Storage & Regasification Unit) segment is expected to benefit from storage capacity or regasification capacity expansion plans of existing FSRU (Floating Storage & Regasification Unit) terminals.  

Middle East & Africa and Asia Pacific to Drive New Demand Growth in the FSRU (Floating Storage & Regasification Unit) Market

The demand for FSRU (Floating Storage & Regasification Unit) terminals is the greatest in regions that have high demand for natural gas and are far off from producing regions, such that pipeline networks are either non-existent between them or outright uneconomical. LNG imports are the easiest option for them, and FSRU (Floating Storage & Regasification Unit) terminals provide a viable alternative for LNG imports as compared to land based terminals, given the low cost, quick project turnaround time and great flexibility. Fast growing economies in the Asia Pacific region, particularly Southeast Asia and the Middle East & Africa are expected to drive the growth of new demand for FSRU (Floating Storage & Regasification Unit) vessels.

Middle East & Africa and Asia Pacific regions are together projected to account for around 85% of the absolute $ opportunity created in the FSRU (Floating Storage & Regasification Unit) market during the forecast period.

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FSRU (Floating Storage & Regasification Unit) Market – Competitive Landscape

The FSRU (Floating Storage & Regasification Unit) market is served by fleet owners who lease out vessels to terminal operators on long-term contracts, sometimes with the option of buying out the vessel at the end of the contract period. The intensity of competition in the FSRU (Floating Storage & Regasification Unit) market is high since there are a limited number of FSRU (Floating Storage & Regasification Unit) fleet owners. The top-3 players in the FSRU (Floating Storage & Regasification Unit) market collectively accounted for an 80%-85% share of the total FSRU (Floating Storage & Regasification Unit) vessels deployed cumulatively till 2017.

Fleet expansion, contracts & agreements, acquisitions and collaborations are some of the preferred strategies adopted by players to maintain and gain market share in the global FSRU (Floating Storage & Regasification Unit) market. Some of the key developments witnessed in the FSRU (Floating Storage & Regasification Unit) market have been listed below:

  • In September 2018, Höegh received an order from CCB Financial Leasing Co. Ltd. for the supply of FSRU #10. However, FSRU # 10 is under construction & will be delivered in Q2 2019. The leasing value for FSRU # 9 is pegged at US$ 206 Mn by CCB Financial Leasing Co. Ltd.
  • In December 2017, Exmar NV got an order from Wison Shipyard for the supply of a Barge-based FSRU (Floating Storage & Regasification Unit) with a regasification capacity of 600MMSCFD and a storage capacity of 26,000 m3 of LNG
  • In February 2017, Excelerate Energy signed a deal with Daewoo Shipbuilding and Marine Engineering (DSME) for the delivery of up to 7 FSRU (Floating Storage & Regasification Unit) vessels

Some of the prominent players covered in this study of the global FSRU (Floating Storage & Regasification Unit) market include BW LPG Limited, Leif Höegh & Co, Exmar NV, FLEX LNG Management AS, Excelerate Energy L.P., Golar LNG Limited, MITSUI & CO., LTD., Keppel Offshore & Marine Ltd, PSA Marine (Pte) Ltd. and Cosco Shipping International (Hong Kong) Co., Ltd.

Key Questions Answered in the Report

  • How has the FSRU (Floating Storage & Regasification Unit) market evolved over the past four years?
  • What shape is the FSRU (Floating Storage & Regasification Unit) market expected to take in terms of volume and value during the study period?
  • What are some of the prevailing market dynamics in the FSRU (Floating Storage & Regasification Unit) market?
  • What are the competition developments and trends in the FSRU (Floating Storage & Regasification Unit) market?
  • What are some of the underlying macro-economic and industry factors impacting the growth of the FSRU (Floating Storage & Regasification Unit) market?
  • What are the important key challenges, opportunities and improvement factors for FSRU (Floating Storage & Regasification Unit) market players?
  • What are the important market positioning and key strategies of key manufacturers as per the FSRU (Floating Storage & Regasification Unit) market taxonomy?
  • How the competition is structured at present and how has it evolved in the FSRU (Floating Storage & Regasification Unit) market over the past few years?

Company Profiles

  • Citec Group Oy Ab
  • BW LPG Limited
  • Leif Höegh & Co
  • EXMAR NV
  • FLEX LNG Management AS
  • Excelerate Energy L.P.
  • Keppel Offshore & Marine Ltd
  • PSA Marine (Pte) Ltd.
  • COSCO SHIPPING International (Hong Kong) Co., Ltd.
  • Gaztransport & Technigaz
  • SENER Group
  • MITSUI & CO., LTD.
  • Golar LNG Limited
  • Ochre Energy
  • NextDecade Corporation
  • Others.
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