is Segmented by Construction Type (Newly Built and Converted), by Storage Type (Small, Medium, and Large), by Application Type (Industrial, Power Generation, and Others), and by Region
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, Floating Storage and Regasification Unit (FSRU) Market is likely to witness an impressive CAGR of 10.0% during the forecast period. The increasing demand for liquified natural gas (LNG) as an environmentally-friendly energy source is expected to drive the growth of the market over the forecast period. In addition, the FSRU market facilitates the delivery of natural gas in a shorter time frame and makes it readily available to local markets, which is projected to support market growth during the forecast period.
Market Segments' Analysis
Based on the storage type, the market is segmented as small, medium, and large. Medium storage type is expected to grow with the highest CAGR during the forecast period. The majority of FSRU (Floating Storage and Regasification Unit) vessels deployed in recent years are of medium size, and demand for medium storage capacity FSRU units is expected to remain stable during the forecast period.
Based on the application type, the market is segmented as industrial, power generation, and others. The power generation application segment is estimated to account for the major share of the market during the forecast period, owing to the growing demand for LNG for power generation projects across the world.
In terms of regions, Rest of the World is estimated to hold the major share of the FSRU market during the forecast period. The growth of the region’s market is owing to the growing demand for natural gas across the world. Also, fast-growing economies in the Asia-Pacific region and the Middle East & Africa are expected to drive the FSRU (Floating Storage & Regasification Unit) market during the forecast period.
The following are the key players in the Floating Storage and Regasification Unit (FSRU) Market-
· Bumi Armada
· BW Gas AS
· Excelerate Energy LP
· EXMAR NV
· FLEX LNG Ltd.
· Golar LNG Ltd.
· Hoegh LNG AS
· Maran Gas Maritime Inc.
· Mitsui O.S.K. Lines Ltd.
· Teekay LNG Partners, L.P.
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Floating Storage and Regasification Unit (FSRU) Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Floating Storage and Regasification Unit (FSRU) Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
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