Global LNG Bunkering Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global LNG Bunkering Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global LNG bunkering market report has been segmented on the basis of product type, end user, and region.
Global LNG Bunkering Market: Overview
LNG (Liquid Natural Gas) is an alternative fuel for shipping, as liquefied natural gas emits fewer polluting substances. Bunkering is the process of refueling marine vessels or facility in the form of conventional marine fuel such as marine diesel fuel, heavy fuel oil, and marine gas fuels, using pipelines which are connected to the terminal.
Global LNG Bunkering Market: Dynamics
Increasing number of vessels and ships using LNG, owing to increasing need for cleaner fuels is a key factor expected to drive growth of the global market over the forecast period.
In addition, stringent government regulations in various countries across the globe in order to reduce chemical emissions of harmful gases is another factor expected to further fuel growth of the target market during the forecast period. For instance, The America Bureau of Shipping (ABS), developed a framework of risk assessment considering LNG leakage during bunkering, that includes leaks from LNG pipes, tanks, pumps, hoses, overfilling vessel fuel tanks, and external impact. Which in turn expected to creates suitable environment for growth of target market.
However, high transportation cost and safety required for transportation process are major factors expected to restrain growth of the global market over the forecast period. In addition, lack of infrastructure in order to fuel LNG across bunkering locations is another factor expected to hamper growth of the target market in the near future.
Technological advancements and rising research and development activities for innovative product development, owing to stringent government policies are expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Global LNG Bunkering Market: Segment Analysis
On the basis of product type, the ship-to-ship LNG bunkering segment is expected to register significant growth in terms of revenue over the forecast period, owing to its advantages such as quick transfer operations and high capacity of 700-7500 tons.
On the basis of end user, the offshore support vessel segment is expected to dominate the global market in terms of revenue over the forecast period, owing to its cost effective exploration and production activities.
Global LNG Bunkering Market: Regional Analysis
The market in Europe is expected to dominate the global market in terms of revenue over the forecast period, owing to stringent government regulations for emission on rising offshore oil and gas exploration and production activities across various countries in the region. The market in Asia Pacific is expected to register fastest growth over the forecast period, owing to increasing demand for energy across various industrial applications and rising towards use of LNG as a marine fuel across various countries in this region. The market in North America is expected to register significant growth in terms of revenue over the forecast period.
Global LNG Bunkering Market Segmentation:
Segmentation by product type:
- Portable Tanks
Segmentation by end user:
- Bulk and General Cargo Fleet
- Offshore Support Vessels
- Tanker Fleet
- Container Fleet
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Royal Dutch Shell plc
- Skangas AS
- ENN Energy Holdings Limited
- Korea Gas Corporation
- PT Indo LNG Prima
- Harvey Gulf International Marine, LLC
- Bomin Linde LNG GmbH & Co. KG
- Fjord Line AS
- Crowley Maritime Corporation
- Polskie LNG Sp. z.o.o.
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