LNG Bunkering Market Size, Latest Trends, Share, Key Players, Revenue, Opportunity, and Forecast 2022-2027

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At 8.10% CAGR, Global LNG Bunkering Market Size & Share to Surpass USD 955.6 Billion by 2027 | Industry Trends, Growth, Share, Opportunities, Statistics, Analysis & Forecast Report by IMARC

Global LNG Bunkering Market Overview (2022-2027)
• Historical Market Size (2021): US$ 2.53 Billion
• Forecast CAGR (2022-2027): 8.10%
• Forecast Market Size (2027):US$ 4.1 Billion

 What is a  LNG bunkering market ?

The LNG bunkering process usually involves providing LNG fuel to ships as well as loading and distributing it among their tanks.

Furthermore, LNG fuel has a lower sulfur content and requires comparatively less processing to meet the sulfur levels. Consequently, it is used as an eco-friendly alternative to conventional fuel in inland vessels, ferries, container fleet, etc.

In line with this, LNG reduces sulfur and particulate matter to negligible levels while minimizing nitrogen oxide emissions. As a marine fuel, it offers various benefits, including lower operating and shipment costs, improved safety, non-toxic properties, etc.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What are the major market drivers in the LNG bunkering market ?

The growing number of gas exploration and production activities and the inflating levels of industrialization are primarily driving the LNG bunkering market.

Additionally, the implementation of several stringent environmental regulations by government bodies across countries regarding sulfur content in marine fuel, increasing pollution levels caused by ship transportation, and continuous advancements in the distribution infrastructures of LNG are further catalyzing the market growth.

 Besides this, the widespread adoption of LNG as a shipping fuel with an enhanced focus on sustainable development and its easy availability in maritime hubs are also positively influencing the global market.

Moreover, the introduction of LNG manufacturing and storage facilities and the rising utilization of truck-to-ship LNG bunkering practices are acting as significant growth-inducing factors.

Apart from this, the elevating consumer concerns towards the depletion of fossil fuels and extensive investments in R&D activities by the leading manufacturers are anticipated to fuel the LNG bunkering market over the forecasted period.

LNG Bunkering  Market Report Scope

Report Coverage

Details

Market size value in 2021

US$ 2.53 Billion 

Market forecast in 2027

 US$ 4.1 Billion 

Growth Rate

CAGR of 8.10% from 2022 to 2027

Base year for estimation

2021

Historical data

2016-2021

Forecast period

2022-2027

Report coverage

Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends

Segments covered

  Product Type and Application

Regional scope

United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico

Key companies profiled

Broadview Energy Solutions B.V., Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine LLC, Korea Gas Corporation, Petroliam Nasional Berhad (PETRONAS), Shell plc, SHV Energy NV (SHV Holdings), TotalEnergies SE and Trelleborg AB.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

 

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Product Type:

  • Ship-to-Ship
  • Truck-to-Ship
  • Port-to-Ship
  • Portable Tanks

Breakup by Application:

  • Cargo Fleet
  • Container Fleet
  • Tanker Fleet
  • Ferries
  • Inland Vessels
  • Others

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

The major players in the market are Broadview Energy Solutions B.V., Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine LLC, Korea Gas Corporation, Petroliam Nasional Berhad (PETRONAS), Shell plc, SHV Energy NV (SHV Holdings), TotalEnergies SE and Trelleborg AB.

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