Floating Storage and Regasification Unit Market Size Worth USD 11.77 Billion by 2034 | CAGR: 8.4%

The floating storage and regasification unit market size was valued at USD 5.60 billion in 2025 and is expected to reach USD 11.77 billion by 2034, according to a new study by Polaris Market Research. Its full title is "Floating Storage and Regasification Unit Market Share, Size, Trends, & Industry Analysis Report By Contract Model, By Application, By Deployment, By Construction, By Storage Capacity, and By Region; Market Forecast, 2026 to 2034". The study covers the construction types, storage classes, contract models, applications, and deployment types that shape demand for vessels that turn liquefied natural gas back into gas at the shore.

The market is growing at a CAGR of 8.4% from 2026 to 2034, as energy security programs, power shortages in emerging economies, and the short start up time of floating terminals pull importers toward charters. Buyers now ask for proven vessels with firm delivery dates, and yards are adding conversion and newbuild capacity to meet that demand.

Suppliers earned USD 6.18 billion from this market in 2026. Converted units account for the largest construction share, owing to lower cost and shorter lead times for rebuilt carriers, while long term charters remain the largest contract model. Newbuild units expand fastest among construction types, as charterers ask for larger tanks and longer contracts.

Purchasing criteria are shifting. Buyers now ask owners for firm delivery dates and send out rates, and large utilities compare charter offers from several owners before they sign contracts that run for a decade or more.

Project delays and cost weigh on parts of the market. Gas power plants in emerging Asia have fallen behind schedule, charter rates rise when vessels are scarce, and permits can add a year to a project, and uptake therefore differs from one country to the next.

Regions behave differently. Europe is the largest region, with 32.4% of 2026 revenue, as terminals in Germany, Italy, Poland, and the Netherlands replaced pipeline gas. Asia Pacific records the quickest growth, at 11.9% annually from 2026 to 2034, since gas for power is scarce in South and Southeast Asia. Latin America is shaped by Brazil and Colombia.

Newbuild units lead construction growth, and LNG bunkering leads application growth. Offshore moored units lead deployment growth, advancing 11.6% annually owing to sites with shallow water or crowded harbors that cannot host a jetty.

Competition spans vessel owners, shipyards, and tank designers. Recent activity points the same way, with Karpowership awarding Seatrium a ninth FSRU conversion in October 2026 and HD Korea Shipbuilding & Offshore Engineering winning an FSRU order in July 2026.

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The report examines construction, storage capacity, contract model, application, and deployment, and covers growth drivers, restraints, opportunities, trends, and company profiles.

Floating Storage and Regasification Unit Market Report Highlights

Europe is the largest region, with 32.4% of 2026 revenue.
Asia Pacific is the fastest growing region, with a CAGR of 11.9% from 2026 to 2034.
Latin America ranks third by revenue at 18.8% of the 2026 total, with Brazil the biggest national market.
Converted FSRU held 54.3% of construction revenue in 2026.
Newbuild FSRU is projected to grow at a CAGR of 10.5% from 2026 to 2034.
Vessels sized between 140,000 and 170,000 cubic meters generated USD 3,375 Million in 2026.
Bunkering and other uses are projected to grow at a CAGR of 14.3% from 2026 to 2034, the fastest application.
Long Term Charter supplied 61.9% of contract model revenue in 2026.
Jetty Moored held 68.4% of deployment revenue in 2026.
Leading names include Excelerate Energy, Inc., Höegh Evi, and Golar LNG Limited, alongside shipbuilders such as Samsung Heavy Industries Co., Ltd.

Floating Storage and Regasification Unit Market report by construction, storage capacity, contract model, application, deployment, and region.

By Construction

Converted FSRU
Newbuild FSRU

By Storage Capacity

Up to 140,000 Cubic Meters
140,000 to 170,000 Cubic Meters
Above 170,000 Cubic Meters

By Contract Model

Long Term Charter
Short Term Charter
Owned and Operated

By Application

Power Generation
Industrial
Gas Grid and City Gas Supply
LNG Bunkering and Other Uses

By Deployment

Jetty Moored
Offshore Moored
Others

By Region

North America: United States, Canada, Mexico
Europe: Germany, Italy, Netherlands, Greece, Poland, Turkey, Rest of Europe
Asia Pacific: China, India, Pakistan, Bangladesh, Vietnam, Philippines, Indonesia, Japan, Rest of Asia Pacific
Latin America: Brazil, Colombia, Argentina, Chile, Rest of Latin America
Middle East & Africa: Egypt, Kuwait, United Arab Emirates, Iraq, Ghana, South Africa, Rest of Middle East & Africa