FSRU (Floating Storage and Regasification Unit) Market Size & Share, by Capacity (Small (Below 100,000 Cubic Meters), Medium (100,000 to 250,000 Cubic Meters), Large (Above 250,000 Cubic Meters)); Fuel Type; Application; Design; Propulsion System - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2025-2037

North America Market Forecast

North America FSRU (Floating Storage and Regasification Unit) market is expected to capture revenue share of over 36.1% by 2037. The high industrial activities, increasing investments in advanced storage and gasification technologies, cleaner fuel transition, and growing LNG demand are contributing to the high sales of floating storage regasification units. The presence of high-tech companies is anticipated to aid key players in developing innovative floating storage regasification units and boost their position in the global landscape.

In the U.S., the increasing consumption of liquefied natural gas is increasing the investments in floating storage regasification units. After Europe mitigated the dependence on Russian LNG supplies, the U.S. LNG exports to the region increased. For instance, in March 2022, the Congressional Research Service (CRS) revealed that Europe captured 74.0% of the total U.S. LNG exports. Furthermore, in April 2024, the U.S. Energy Information Administration (EIA) stated that the country is the world’s largest exporter of liquefied natural gas, and in 2023, the LNG exports averaged 11.9 billion cubic feet per day (Bcf/d).

In Canada, the increasing investments in LNG floating projects are generating profitable opportunities for floating storage regasification unit producers. The supportive government policies to meet energy demand are also contributing to the floating storage regasification unit sales. For instance, in June 2024, the Pembina Pipeline Corporation and Haisla Nation collaborated with Cedar LNG Partners LP to invest in the Cedar floating LNG Project with 3.3 million tons per annum LNG capacity. Such investment environments are set to augment the Canada FSRU market growth in the coming years.

Asia Pacific Market Statistics

The Asia Pacific FSRU (Floating Storage and Regasification Unit) market is poised to rise at the fastest CAGR through 2037. The rapid industrialization, high energy demand, increasing production and consumption of LNG, and growing investments in port infrastructure and cleaner energy sources are estimated to uplift the revenues of floating storage regasification unit manufacturers in the coming years. India, China, South Korea, and Japan are witnessing LNG export and import activities contributing to the high demand for floating storage regasification units.

China being the major energy producer and consumer is positively fueling the demand for LNG. The swift hike in industrial and urban activities is further necessitating the country to invest in floating storage regasification units. The U.S. EIA report states that China’s domestic natural gas production offered 58.0% of its supply in 2023. In the same year around 2.6 billion cubic feet per day of natural gas was consumed by the country.

India’s economic growth is directly related to its energy consumption, the high use of electricity reflects the ongoing industrial, manufacturing, and urban activities within the country. The India Brand Equity Foundation (IBEF) report reveals that the country’s goal to achieve net zero carbon emissions by 2070 is driving investments in LNG. The clean fuel trend is augmenting the LNG trade activities, further generating high-earning opportunities for floating storage regasification unit manufacturers. During the period 2023-2024, around 23.3 million tons of LNG was imported by the country. Furthermore, the Federation of Indian Petroleum Industry (FIPI) report elaborates that the increasing investments in the LNG infrastructure are driving the adoption of advanced floating storage and regasification units.