Global LNG Bunkering Market Trend Share Opportunities and Forecast to 2023

Big Market Research added a report on “LNG Bunkering Market By End-User (Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels And Others) – Global Opportunity Analysis And Industry Forecast, 2017-2023”

The global LNG bunkering market was valued at $214 million in 2016, and is expected to reach $10,185 million by 2023, registering a CAGR of 58.5% from 2017 to 2023. Liquid Natural Gas (LNG) is an environment-friendly and commercially attractive fuel used in ships. LNG as a marine fuel has gained importance in the last few years due to the upcoming regulations on sulfur emissions. Technical solutions for LNG supply infrastructure and on-board storage and processing are available.

The International Maritime Organization’s regulations of sulfur cap of 0.50% m/m (mass/mass) in 2020 for marine fuels, increase in ocean-borne trade, especially in ton-km travelled, and lower cost of LNG bunker fuel than other variants of ECA-compliant fuels are the factors that drive the development of the global LNG bunkering market. However, demand-supply gap for LNG bunkering is expected to hamper the market growth. Moreover, development of LNG bunkering infrastructure and regulatory framework is expected to be a key challenge for the market.

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The global LNG bunkering market is segmented based on end user and geography. By end user, it is categorized into tanker fleet, bulk & general cargo, offshore vessels & ferries, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In 2016, Europe occupied the highest market share, followed by Asia-Pacific. Asia-Pacific is expected to account for one-third share of the global LNG bunkering market by 2023, witnessing substantial growth in the emerging countries, such as, China, India, and South Korea.

The prominent players in the global LNG bunkering market focus on product development and agreements as their key strategies to gain significant market share.

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KEY BENEFITS FOR STAKEHOLDERS

  • This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the LNG bunkering market.
  • In-depth analysis of LNG bunkering market is conducted and estimations for key segments between 2014 and 2022 are provided.
  • Comprehensive analysis of factors that drive and restrain the growth of the market are provided.
  • LNG bunkering market share for all segments with respect to each geography is detailed in the report.
  • Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the LNG bunkering industry trends.

KEY MARKET SEGMENTS

By End User

  • Tanker Fleet
  • Bulk & General Cargo
  • Offshore Vessels & Ferries
  • Others

By Geography

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Belgium
    • Spain
    • France
    • UK
    • The Netherlands
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • UAE
    • Brazil
    • Argentina
    • Rest of LAMEA

Key Players

  • Skangas AS
  • Gasnor As
  • Statoil ASA
  • Barents Naturgass As
  • Engie SA
  • Bomin Linde LNG GmbH & Co. KG
  • Eni Norge AS
  • Harvey Gulf International Marine Llc.
  • Polskie LNG SA
  • Korea Gas Corp.

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