Floating Storage and Regasification Unit Market – Current Trends, Opportunities & Challenges by 2025

MarketResearchReports.Biz announces addition of new report "Floating Storage and Regasification Unit Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025" to its database.

The main objective of this report is to define, describe, and forecast the global “Floating Storage and Regasification Unit” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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Floating storage & regasification is a special ship which is utilized in the transfer and transport of LNG (Liquefied Natural Gas) through seas and oceans. LNG needs to be heated before transferring into storage system. It is transported in a semi-cooled state at a temperature below -160 ? C and it needs to be heated before transferring. Floating storage catalyzes the movement towards gas-to-power projects that are becoming a need for today’s changing energy dynamics.

The floating storage and regasification unit market is segmented based on heating types, application, and region. Floating storage and regasification unit market is segmented based on heating into types such as open looped, closed-roofed, IFV, and floating. IFV is intermediate fluid vaporization type of floating storage and regasification unit. Open looped is a simple type of floating storage and regasification unit. Floating is a type of floating storage and regasification unit which is widely used across in order to curb environmental pollution and safely store LNG. Floating storage and regasification units are used in offshore oil & gas for storing, producing, and transferring hydrocarbons. Recent developments in the LNG industry have paved the way for the usage of floating storage and regasification units.

Demand for storage of environment-friendly fuel such as LNG, which is needed for energy consumption in today’s world, is a key factor driving the floating storage and regasification unit market. A dockside or offshore regasification facility requires minimum land use, which indirectly helps maintain the surrounding environment. A major advantage of using floating storage and regasification units is they avoid direct contact of seawater with the LNG, which ultimately reduces the risk of LNG from getting frozen.

Restraints of the floating storage and regasification unit market are its high cost of production and installation due to the volatility in the oil & gas market. Moreover, low storage capacity to hold the storage of LNG is a major restraint of the floating storage and regasification unit market. However, the market is expected to expand primarily due to several countries regulating the usage of these units to store LNG in case of artificial scarcity of LNG and defense purposes. Cost of re-heating the fuel is significantly high and time-consuming. Advanced and emerging technologies have led to the reduction in cost of production of floating storage and regasification unit, as compared to landfill storage unit.

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The floating storage and regasification unit market in North America is expanding due to rapid industrialization and discoveries of new shale oil and gas fields. In Europe, countries such as the U.K., France, and Germany have been using floating storage and regasification unit on a wider scale for industrial purposes. In the Middle East, countries such as Saudi Arabia and Qatar are extensively employing storage and regasification units, as these countries produce large quantities of oil and gas. In Asia Pacific, countries such as Australia are witnessing high utilization of floating storage and regasification units. Countries such as India, China, and Japan are witnessing high demand for floating storage and regasification units to store oil & gas. Countries in Africa and Latin America are promising markets for floating storage and regasification units.

Key players operating in the floating storage and regasification unit market include Trafigura, Excelerate Energy, Ltd., Golar LNG, HOEGH LNG, and BW Gas.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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