LNG Bunkering Market Report

Market Insights

LNG Bunkering Market is likely to grow at an impressive CAGR of 46% during the forecast period. Revolutionary trends towards clean energy combined with strict government regulations to reduce airborne emissions including sulfur and nitrous oxide will lead the LNG bunkering market during the forecast period. Furthermore, technological advancements in vessel design to cut down maintenance, enhance fuel efficiency and improve performance, reliability and safety are some of the key parameters likely to push the product demand.

Segment Analysis

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LNG Bunkering Market Share: By Product Type

Based on the 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 expansion over 60% by 2024, owing to its quick transfer operations and high capacity. Capacity to allow the movement of cargo and bunkering operation to occur simultaneously, which will further glorify the industry landscape during the forecast period. On the other hand, availability of pipeline on ports along with larger hose to elevate the bunkering rate; this will positively influence the port-to-ship market size. Low cost and quick transfer operation will go a long way in promoting the acceptance of truck-to-ship operations.

LNG Bunkering Market Share: By End-Use Type

Based on the end-use type, the market is segmented as 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 Roll-Off car carriers. Sanguine outlook towards international maritime trade coupled with stringent environmental regulations to steer the LNG bunkering market with lucrative returns.

LNG Bunkering Market Share: By Region

In terms of region, North America led the market for LNG bunkering in 2020, and is expected to maintain its indubitable lead during the forecast period as well. The growth of the region can be attributed to the current shale production with stringent emission norms, which will flourish the 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 substantial growth opportunities over the forecast period.

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Market Scope & Segmentation

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.

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.

The LNG bunkering market is segmented into the following categories.

LNG Bunkering Market Size, Share, & Forecast, by Product Type:

• Truck-to-Ship (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Port-to-Ship (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ship-to-Ship (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Portable Tanks (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

LNG Bunkering Market Size, Share, & Forecast, by End-Use Type:

• Container Vessels (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cruise-ships (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Bulk Carriers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ferries (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Offshore Support Vessels (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

LNG Bunkering Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the 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:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market 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

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 at [email protected].