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    LNG Bunkering Market Report

    LNG Bunkering Market Report
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    LNG Bunkering Market Size, Share, Industry Analysis, Forecast, and Growth Opportunity &nda See more...

    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.

    LNG-Bunkering-Market-Size

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    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

    LNG-Bunkering-Market-Snapshot

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    Key Players

    Some of the key players in the market are-

    • 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.

    Segment Analysis

    By Product Type

    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.

    LNG-Bunkering-Market-Segment-Share-Analysis

    to know the market segments details

    By End-Use Type

    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.

    By Region

    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.

    LNG-Bunkering-Market-Regional-Analysis

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    Market Scope & Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

    Report – Features

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The market is segmented into the following categories.

    Product Type

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

    End-Use Type

    • Container Vessels
    • Cruise-ships
    • Bulk Carriers
    • Ferries
    • Offshore Support Vessels

    Region

    • North America 
    • Europe 
    • Asia-Pacific 
    • Rest of the World

    LNG-Bunkering-Market-Segmentation

    to know the market segmentation details

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Trend and forecast analysis
    • Segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    LNG Bunkering Market Features

    Market Size in 2028

          USD 52.43 Billion

    Market Size in 2021

          USD 4.50 Billion

    Market Growth (2022-2028)

          42% CAGR

    Base Year of Study

          2021

    Trend Period

          2016-2020

    Forecast Period

          2022-2028

    Segments Covered

     

    Product Type (Truck-to-Ship, Port-to-Ship, Ship-to-Ship, Portable Tanks),

     

    End-Use Type (Container Vessels, Cruise-ships, Bulk Carriers, Ferries, Offshore Support Vessels),

     

    Region (North America, Europe, Asia-Pacific, Rest of the World).

     

    Top Companies in 2022

     

    • 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.

    Dominant Region

    North America is projected to be the largest market.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by end-use type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Recent Developments

    October 2022-Pavilion Energy and Mitsui O.S.K. Lines name newbuild LNG bunker vessel

    Pavilion Energy and Mitsui O.S.K Lines (MOL) recently held a ship naming ceremony at Sembcorp Marine’s flagship Tuas Boulevard Yard. Read More...

    Frequently Asked Questions (FAQs)

    The LNG bunkering market valued at USD 4.50 Billion in 2021.

    The LNG bunkering market was valued at USD 52.43 Billion in 2028.

    The LNG bunkering market is growing at a CAGR of 42% over the forecast period.

    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 is among the key players in the key players in the market.

    Revolutionary trends towards clean energy combined with strict government regulations to reduce airborne emissions including sulfur and nitrous oxide, technological advancements in vessel design to cut down maintenance, enhance fuel efficiency and improve performance are the factors driving the growth of the market.

    The study period of the LNG bunkering market is 2016-2028.

    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 makes its feasible for adoption. Converting natural gas into 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.

    The RO-Pax LNG bunkering is expected to experience strong growth in the market in the coming years.

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