North America Floating Storage and Regasification Unit Market is Expected to grow at a robust CAGR of 5.93% through 2030F
The
North America Floating Storage and Regasification Unit Market is expected to be
led by the United States, driven by its growing demand for cleaner energy
solutions and LNG infrastructure development, during the forecast period
2026-2030F.
According
to TechSci Research report, “North
America Floating Storage and Regasification Unit Market – By Country,
Competition, Forecast & Opportunities, 2020-2030F, The North America
Floating Storage and Regasification Unit Market was valued at USD 827.43
Million in 2024 and is expected to reach USD 1168.95 Million by 2030 with a
CAGR of 5.93% during the forecast period.
A
key driver accelerating the North America Floating Storage and Regasification
Unit Market is the region’s need to respond efficiently to seasonal demand
fluctuations and energy emergencies, which frequently strain conventional
infrastructure. During peak winter and summer seasons, residential heating and
industrial cooling requirements rise sharply, causing natural gas consumption
to spike beyond the capacity of local supply and pipeline systems. Traditional
onshore storage and transmission infrastructure often cannot respond swiftly
enough to these surges, particularly in densely populated urban centers or
regions with aging distribution networks.
Floating
Storage and Regasification Units offer an effective solution by acting as
mobile, high-capacity reservoirs that can be deployed where and when demand is
most acute. These units can serve as floating buffers during price volatility
or supply interruptions, enabling utilities and governments to maintain energy
continuity and avoid blackouts, gas shortages, or emergency rationing. The
versatility of Floating Storage and Regasification Units allows them to serve
dual roles—both as temporary import terminals and as part of a long-term
regional energy strategy. Their strategic value was highlighted during extreme
weather events such as cold snaps and hurricanes, when pipeline disruptions and
infrastructure damage left entire cities vulnerable.
Floating
Storage and Regasification Units, with their ship-based design and remote
operation capabilities, are resilient to many natural disruptions that hinder
land-based terminals. As climate change continues to intensify the frequency of
extreme weather patterns, governments and utilities across North America are
increasingly incorporating floating regasification systems into emergency
preparedness plans. Additionally, these units are capable of being shared or
relocated across borders and jurisdictions, enhancing regional cooperation and
crisis response. Their utility in both scheduled and unscheduled scenarios
positions Floating Storage and Regasification Units as indispensable components
of North America’s energy resilience framework.
A
clear trend gaining traction in the North America Floating Storage and
Regasification Unit Market is the increasing preference for short-term charter
agreements and mobile deployment strategies among energy importers and
utilities. Unlike traditional land-based liquefied natural gas terminals, which
require decades-long investment horizons and rigid contractual frameworks,
Floating Storage and Regasification Units are well-suited to short-term market
dynamics and flexible supply strategies. North American utilities, particularly
those serving seasonal or peak-load demand centers, are leveraging the ability
to lease regasification capacity for specific months or years without
committing to permanent infrastructure or multi-decade import obligations. This
model enables rapid response to market opportunities, such as price arbitrage
between international liquefied natural gas hubs, or emergency fuel needs
caused by extreme weather or infrastructure outages. The growing liquidity of
the global liquefied natural gas shipping market and an expanding pool of
available Floating Storage and Regasification Units for charter have further
facilitated this trend.
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Based on Application, The
Heating & Cooling segment is the fastest-growing application in the North
America Floating Storage and Regasification Unit Market, driven by the rising
demand for cleaner and more efficient energy sources. The growing shift towards
natural gas as a more environmentally friendly alternative to traditional
heating methods has led to increased adoption of Floating Storage and
Regasification Units, especially in areas with limited access to pipelines.
These units offer flexibility and scalability, making them an ideal solution
for regions seeking reliable and efficient heating and cooling services.
The
increased focus on reducing carbon emissions and integrating renewable energy
sources has further boosted the demand for natural gas-based heating systems.
As energy regulations continue to evolve and stricter environmental standards
are put in place, the need for sustainable and cost-effective heating and
cooling solutions is expected to further drive the growth of the segment. This
trend is particularly visible in areas like the United States, where natural
gas use for heating and cooling has seen considerable expansion, positioning
the Heating & Cooling application as a key growth driver in the Floating
Storage and Regasification Unit Market.
Based
on country, Mexico is
rapidly emerging as the fastest-growing country in the North America Floating
Storage and Regasification Unit Market, driven by a combination of factors such
as industrial expansion, increasing demand for reliable power systems, and the
nearshoring trend. As global companies relocate manufacturing and service
operations closer to the United States, the demand for Floating Storage and
Regasification Units in Mexico is rising to ensure that power systems in new
facilities and data centers operate efficiently. The growth of Mexico’s data
center sector is also contributing significantly to the Floating Storage and
Regasification Unit market, as these facilities require regular testing and
maintenance of power systems to ensure uninterrupted service.
In
addition, government initiatives and favorable business conditions have
attracted investments from multinational corporations, further driving the need
for dependable power infrastructure. As Mexico continues to develop its
industrial and technological capabilities, the Floating Storage and
Regasification Unit market in the country is expected to experience sustained
growth, making it a key player in the North American market.
Key
market players in the North America Floating Storage and Regasification Unit market
are: -
- Excelerate
Energy, Inc.
- Golar
LNG Limited
- New
Fortress Energy Inc.
- Samsung
Heavy Industries Co., Ltd.
- Hyundai
Heavy Industries Co., Ltd.
- Wärtsilä
Corporation
- McDermott
International, Inc.
- Linde
plc
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“Mexico
is rapidly emerging as the fastest-growing country in the North America
Floating Storage and Regasification Unit Market due to its strategic efforts to
enhance its liquefied natural gas infrastructure. With increasing demand for
cleaner energy sources, the country is focusing on developing key LNG import
and export terminals, strengthening its role as a crucial player in global
energy markets. The expansion of Floating Storage and Regasification Units in
Mexico is being driven by the need for flexible and cost-effective solutions to
meet domestic energy requirements, especially in regions without extensive
pipeline infrastructure. Mexico's growing energy demand and government
initiatives aimed at improving energy security and diversifying energy sources
further support the rise of Floating Storage and Regasification Units. As the
country continues to build its LNG infrastructure, Mexico is poised to be a
dominant player in the market.Top of
Form” said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based Global management consulting firm.
“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, Competition, Forecast and
Opportunities, 2020-2030F”,
has evaluated the future growth potential of North America Floating Storage and
Regasification Unit Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in North America Floating
Storage and Regasification Unit Market.
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