Stratview Research publishes a new report titled LNG Bunkering Market which is segmented by Product Type (Truck-to-Ship, Port-to-Ship, Ship-to-Ship, and Portable Tanks), by End-Use Type (Container Vessels, Cruise-ships, Bulk Carriers, Ferries, and Offshore Support Vessels), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

The LNG bunkering market was estimated at USD 4.50 billion in 2021 and is likely to grow at a CAGR of 42% during 2022-2028 to reach USD 52.43 billion in 2028.

What is LNG Bunkering?

Bunkering, a process to refuel marine vessels, is carried out through pipelines connected to a terminal or direct transfer from trucks or ships.  Effortless transportation and storage of liquefied natural gas make it feasible for adoption. Converting natural gas into a liquid state at -1610 Celsius is beneficial for easy transport and shipping. Higher heating value along with lower density results in the reduction of emissions of harmful greenhouse gas.

COVID-19 Impact

The LNG bunkering market has suffered due to the Covid-19 Pandemic. This is attributed to the temporary prohibition on maritime trade and transportation activities. This also affected the supply chain and the demand for gasoline from the shipping industries.

Market Drivers

Revolutionary trends towards clean energy combined with strict government regulations to reduce airborne emissions including sulfur and nitrous oxide will lead the market during the forecast period. Furthermore, some of the key parameters are likely to push the product demand.

• Technological advancements in vessel design to cut down maintenance.
• Enhance fuel efficiency and improve performance.
• Reliability and safety.

Global LNG Bunkering Market Report Segments:

The market is segmented as truck-to-ship, port-to-ship, ship-to-ship, and portable tanks. The ship-to-ship LNG bunkering market is expected to observe an expansion of over 60% by 2024, owing to its quick transfer operations and high capacity. Capacity to allow the movement of cargo and bunkering operations to occur simultaneously, which will further glorify the industry landscape during the forecast period. On the other hand, the availability of pipelines on ports along with larger hoses to elevate the bunkering rate; will positively influence the port-to-ship market size. Low cost and quick transfer operations will go a long way in promoting the acceptance of truck-to-ship operations.

The market is segmented into container vessels, cruise ships, bulk carriers, ferries, and offshore support vessels. The RO-Pax LNG bunkering market is likely to experience strong growth over the forecast period on account of its high fuel consumption. The segment consists of cruise ships, ferries, and Roll-On and Roll-Off car carriers. Sanguine outlook towards international maritime trade coupled with stringent environmental regulations to steer the market with lucrative returns.

North America led the market for LNG bunkering in 2021 and is expected to maintain its indubitable lead during the forecast period. The growth of the region can be attributed to the current shale production with stringent emission norms, which will flourish business growth. Furthermore, increasing focus to maintain fossil fuel sustainability along with rising concern to reduce environmental impact will lead the market growth. Also, growing investments towards the upgradation and rebuilding of LNG infrastructure to further augment the industry outlook. Europe and Asia-Pacific are also expected to have substantial growth opportunities over the forecast period.

Why is this report beneficial?

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

It also offers –

• Market Overview
• Key Manufacturers Profiles
• Market Analysis by Region
• Market Segment by Type
• Market Segment by Application
• Raw Material and Supply Chain
• Other Key Research Findings

All the data compiled by the market experts is the outcome of rigorous primary and secondary research conducted on the market players and reliable sources, including company white papers, journals, press releases, and more.

Key players active in the market –

The following are some of the key players in the LNG Bunkering Market:

• Bomin Linde LNG GmbH & Co. KG
• Eagle LNG Partners.
• Engie SA
• ENN Energy Holdings Limited.
• Gasnor AS
• Harvey Gulf International Marine LLC.
• Korea Gas Corporation
• Polskie LNG
• Royal Dutch Shell plc.
• Skangass AS.

Customization of the report –

At Stratview Research, the market researchers make a note of opportunities, drawbacks/bottlenecks, estimations, and information related to the market using experienced skills and verified methodologies. Our research reports offer an exceptional experience of innovative solutions and outcomes to the users. If required, user can also opt for customization of the report.

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