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  • LNG Bunkering Market Forecast Analysis | 2022-2028

    LNG Bunkering Market Forecast Analysis | 2022-2028

    LNG Bunkering Market Forecast Analysis | 2022-2028
    Report code - SRTI219 Delivery - 2 Weeks
    LNG Bunkering Market Size, Share, Trends, Dynamics, Growth, & Forecast Analysis &ndash See more...

    Market Insights

    The LNG bunkering market was estimated at USD 4.5 billion in 2021 and is likely to grow at a CAGR of 42% during 2022-2028 to reach USD 52.43 billion in 2028.


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    What is LNG Bunkering?

    Liquid natural gas (LNG) Bunkering is the method of transferring liquefied natural gas fuel from storage to a ship’s fuel tank for consumption. The stored LNG is transported at cryogenic temperatures allowing it to be condensed into a liquid state. These kinds of operations are conducted widely at ports, onboard vessels, etc. using various methods such as truck-to-ship, shore-to-ship, etc.

    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.

    LNG Bunkering Market Highlights

    Market Size in 2021

    USD 4.5 billion

    Market Size in 2028

    USD 52.43 billion

    Market Growth (2022-2028)

    42% CAGR

    Base Year of Study


    Trend Period


    Forecast Period


    Market Drivers

    The major factors driving the growth of the LNG bunkering market are-

    Stringent environmental regulations – LNG bunkering is considered a cleaner way to traditional heavy fuels. It emits lower levels of sulphur oxides (SOx), nitrogen oxides (NOx), etc. There are different organizations like the International Maritime Organization (IMO) that are focusing on reducing sulphur oxide emissions by limiting the global sulphur content of ships’ fuel oil. LNG bunkering ensures more sustainable fuel options for ships, reducing sulphur oxide, and other harmful emissions and improving air quality.

    Cost Effectiveness – LNG bunkering offers cost advantages over traditional methods. The use of LNG can lead to operational cost savings due to lower maintenance requirements, also it provides a long engine life. This simultaneously saves the cost of the operator. Though the initial costs of infrastructure are high, LNG can result in long-term benefits compared to any other method. Additionally, LNG bunkering can also save transportation costs in certain regions where natural gas is easy availability.

    Increasing investments in LNG infrastructure – Investments in LNG bunkering infrastructure are increasing to cater for the rising demand for cleaner marine fuels. In January 2023, a Houston-based investment manager - Arroyo Investors invested in an integrated shore-side LNG production and maritime transportation logistics; Seaside LNG in the U.S.

    In June 2023, Titan fuel supplier has signed a long-term time agreement with Fratelli Cosulich – a global shipping organization; for an 8200Cbm capacity LNG bunker vessel.

    With investments like this, LNG infrastructure, including storage facilities, bunkering vessels, terminals, etc. will be easily available. The increasing availability of LNG will enable the supply chain for LNG bunkering which will further ensure a reliable source of fuel.


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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 LNG bunkering 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.


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    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.

    Regional Insights

    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.


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    Market 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.

    The market is segmented into the following categories.

    By Product Type

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

    By End-Use Type

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

    By Region

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


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    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.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the LNG Bunkering Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    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)

    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 LNG bunkering market valued at USD 4.5 billion in 2021.

    The LNG bunkering market is likely to reach 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 2017-2028.

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


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