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North America Floating Storage and Regasification Unit Market By Capacity (Small (Below 100,000 Cubic Meters), Medium (100,000 to 250,000 Cubic Meters), Large (Above 250,000 Cubic Meters)), By Fuel Type (Natural Gas, Liquefied Natural), By Application (Power Generation, Industrial Use, Heating & Cooling), By Country, By Competition, Forecast and Opportunities, 2020-2030F
Market Report I 2025-05-16 I 120 Pages I TechSci Research
Market Overview
The North America Floating Storage and Regasification Unit (FSRU) Market was valued at USD 827.43 Million in 2024 and is expected to reach USD 1168.95 Million by 2030, growing at a CAGR of 5.93% during the forecast period. FSRUs represent a crucial segment of the LNG infrastructure ecosystem, combining storage and regasification capabilities on a single floating platform, enabling rapid deployment and cost-effective natural gas import solutions. As energy markets shift and the need for flexible, efficient LNG infrastructure grows, FSRUs offer strategic advantages over traditional onshore terminals. They provide a faster, more adaptable method for importing and regasifying LNG in coastal regions across the U.S., Canada, and Mexico, minimizing permitting hurdles and environmental impact. Rising demand for natural gas in power generation, industrial operations, and seasonal peak shaving, coupled with the shift away from coal and oil, is driving investment in FSRUs. The integration of renewables and the push for decarbonization have further positioned FSRUs as a transitional and complementary energy infrastructure solution. Moreover, partnerships between global LNG providers and regional energy firms are accelerating the adoption of high-capacity, modular FSRU units across the continent.
Key Market Drivers
Rising Demand for Flexible Natural Gas Infrastructure in Coastal Regions
The North America FSRU Market is being propelled by the increasing need for adaptable natural gas infrastructure, particularly in coastal zones that require swift deployment of LNG import facilities without the delays associated with onshore development. Regions across the United States, Canada, and Mexico are turning to FSRUs to address fluctuating gas supply, aging pipeline infrastructure, and fuel diversification objectives. These floating units offer immediate LNG regasification and integration with domestic gas grids while bypassing extensive land use, environmental assessments, and civil construction. With urbanization and energy demands surging in coastal areas, FSRUs deliver scalable and mobile solutions for energy resilience. States enacting tighter emissions regulations are increasingly using natural gas as a cleaner bridge fuel, further enhancing FSRU relevance. The mobility of FSRUs enables them to be repositioned based on evolving regional demand and supply scenarios, making them a strategic asset for decentralizing energy access and ensuring grid reliability during peak demand or supply disruptions.
Key Market Challenges
Complex Regulatory Compliance and Environmental Approval Delays
One of the principal challenges in the North America FSRU Market is the multifaceted regulatory landscape that governs LNG infrastructure projects. While FSRUs offer speed and flexibility, they still face stringent oversight from a multitude of federal, state, and local agencies, especially in the U.S., where organizations like FERC, the U.S. Coast Guard, and the EPA impose overlapping requirements. The fragmented approval processes, combined with environmental concerns in ecologically sensitive coastal regions, result in prolonged permitting timelines and heightened legal scrutiny. Community resistance, particularly from environmental groups and stakeholders in fishing and coastal communities, further complicates deployment. These dynamics extend project lead times and elevate risk, deterring investment. Additionally, legacy regulations focused on land-based LNG terminals have not been fully adapted to accommodate floating models, leaving a regulatory gap that adds uncertainty for developers. Navigating maritime rights-of-way, subsea connections, and regional compliance simultaneously adds to the complexity, often diminishing the deployment advantage typically associated with FSRUs.
Key Market Trends
Strategic Deployment of Floating Storage and Regasification Units for Energy Security Diversification
A notable trend in the North America FSRU Market is the use of floating regasification assets as part of broader energy security and diversification strategies. As geopolitical instability and LNG market volatility persist, governments and energy providers are increasingly utilizing FSRUs as flexible import infrastructure to reduce dependence on pipeline imports and central terminal bottlenecks. FSRUs offer modular and scalable solutions that can be rapidly deployed or relocated based on regional energy needs. This makes them particularly attractive for areas with limited pipeline access or seasonal demand variability, such as the U.S. Northeast and parts of Eastern Canada. Their strategic value is further reinforced by their alignment with port development, LNG trade initiatives, and integration with battery storage or renewable energy hubs. This positions FSRUs as a critical component of adaptive and resilient energy networks. By supporting both large-scale and small-scale LNG imports without long-term infrastructure commitments, FSRUs are emerging as an essential tool for maintaining energy continuity and diversifying fuel supply options across the region.
Key Market Players
- Excelerate Energy, Inc.
- Golar LNG Limited
- New Fortress Energy Inc.
- Samsung Heavy Industries Co., Ltd.
- Hyundai Heavy Industries Co., Ltd.
- Wartsila Corporation
- McDermott International, Inc.
- Linde plc
Report Scope:
In this report, the North America Floating Storage and Regasification Unit Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- North America Floating Storage and Regasification Unit Market, By Capacity:
o Small (Below 100,000 Cubic Meters)
o Medium (100,000 to 250,000 Cubic Meters)
o Large (Above 250,000 Cubic Meters)
- North America Floating Storage and Regasification Unit Market, By Fuel Type:
o Natural Gas
o Liquefied Natural
- North America Floating Storage and Regasification Unit Market, By Application:
o Power Generation
o Industrial Use
o Heating & Cooling
- North America Floating Storage and Regasification Unit Market, By Country:
o United States
o Canada
o Mexico
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the North America Floating Storage and Regasification Unit Market.
Available Customizations:
North America Floating Storage and Regasification Unit Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. North America Floating Storage and Regasification Unit Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Capacity (Small (Below 100,000 Cubic Meters), Medium (100,000 to 250,000 Cubic Meters), Large (Above 250,000 Cubic Meters))
5.2.2. By Fuel Type (Natural Gas, Liquefied Natural)
5.2.3. By Application (Power Generation, Industrial Use, Heating & Cooling)
5.2.4. By Country (United States, Canada, Mexico)
5.2.5. By Company (2024)
5.3. Market Map
6. United States Floating Storage and Regasification Unit Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Capacity
6.2.2. By Fuel Type
6.2.3. By Application
7. Canada Floating Storage and Regasification Unit Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Capacity
7.2.2. By Fuel Type
7.2.3. By Application
8. Mexico Floating Storage and Regasification Unit Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Capacity
8.2.2. By Fuel Type
8.2.3. By Application
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments
10.1. Merger & Acquisition (If Any)
10.2. Product Launches (If Any)
10.3. Recent Developments
11. Company Profiles
11.1. Excelerate Energy, Inc.
11.1.1. Business Overview
11.1.2. Key Revenue and Financials
11.1.3. Recent Developments
11.1.4. Key Personnel/Key Contact Person
11.1.5. Key Product/Services Offered
11.2. Golar LNG Limited
11.3. New Fortress Energy Inc.
11.4. Samsung Heavy Industries Co., Ltd.
11.5. Hyundai Heavy Industries Co., Ltd.
11.6. Wartsila Corporation
11.7. McDermott International, Inc.
11.8. Linde plc
12. Strategic Recommendations
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