As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The global LNG bunkering market stood at a value of around USD 0.41 billion in 2020. The market is further expected to grow at a CAGR of 43.96% in the forecast period of 2022-2027 to attain a value of around USD 3.65 billion by 2026.
Based on end user, the bulk and cargo fleet segment is predicted to account for a significant market share in the LNG bunkering industry. This increase can be attributed to the rising demand for bulk and cargo ships for the transportation of goods and essential resources.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
In addition, the increasing trade activities with the growing imports and exports are also adding to its popularity. Moreover, the growing demand for consumer goods, as a result of the rising disposable incomes and increased purchasing parity, is expected to bolster the market growth in the coming years. These factors are predicted to contribute to the overall market growth in the forecast period.
Europe is estimated to possess a significant share of the LNG bunkering industry in the forecast period. This growth can be attributed to the favourable government initiatives and the rising utilisation of LNG bunkering in the region due to its environment-friendly nature compared to its counterparts. For instance, the Gas LNG Europe (GLE) launched the small-scale LNG map of Europe to help the interested market players get an overview of the planned and upcoming LNG infrastructure in the region. Moreover, the European Sea Ports Organisation’s (ESPO) Environmental Report 2020 stated that around one-third of European ports offer LNG bunkering services. In addition, the rapid investments in the marine transportation sector in Europe are anticipated to aid the market growth in the coming years.
LNG bunkering refers to the process of transferring fuel to ships in the form of liquified natural gas. It is a popular and non-polluting method of transmission as compared to the conventional form of fuels such as heavy fuel oil and marine diesel oil, among others. This process can be carried out in different ways such as from truck to ship, ship to ship, or shore to ship. The environmental regulations pertaining to marine transportation are leading to the increased adoption of LNG bunkering.
On the basis of end user, the market is divided into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The stringent regulations governing the use of sulphur content in fuel oil for ships are driving the market demand for LNG bunkering. According to the new ordinances titled IMO2020 put forth by the International Maritime Organisation (IMO), the sulphur content limit in marine fuels has been placed at 0.5%. These mandates were devised in an endeavour to control the rising issues of air and water pollution. As a consequence, LNG bunkering is predicted to witness a significant demand in the coming years, as it offers the lowest carbon footprint with up to 20% low CO2 emissions, 90% low nitrogen dioxide, and reduced amount of sulphur particulates. Furthermore, the increased investments in the development of the maritime transportation sector are also estimated to aid the industry growth. These factors are anticipated to contribute to the market growth in the forecast period.
The report gives a detailed analysis of the following key players in the global LNG bunkering market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- End User, Region|
|Breakup by End User||Tanker Fleet, Container Fleet, Bulk and Cargo Fleet, Ferries and OSV, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Royal Dutch Shell Plc, Skangas A, Korea Gas Corporation, Harvey Gulf International Marine, LLC, Engie SA, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global LNG Bunkering Market Analysis
8.1 Key Industry Highlights
8.2 Global LNG Bunkering Historical Market (2017-2021)
8.3 Global LNG Bunkering Market Forecast (2022-2027)
8.4 Global LNG Bunkering Market by End User
8.4.1 Tanker Fleet
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.4.2 Container Fleet
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.4.3 Bulk and Cargo Fleet
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.4.4 Ferries and OSV
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.5 Global LNG Bunkering Market by Region
8.5.1 Market Share
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
188.8.131.52 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
184.108.40.206 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Royal Dutch Shell Plc
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
11.2.2 Skangas A
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
11.2.3 Korea Gas Corporation
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
11.2.4 Harvey Gulf International Marine, LLC
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
11.2.5 Engie SA
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12 Industry Events and Developments
List of Figures and Tables
1. Global LNG Bunkering Market: Key Industry Highlights, 2016 and 2026
2. Global LNG Bunkering Historical Market: Breakup by End User (USD Billion), 2017-2021
3. Global LNG Bunkering Market Forecast: Breakup by End User (USD Billion), 2022-2027
4. Global LNG Bunkering Historical Market: Breakup by Region (USD Billion), 2017-2021
5. Global LNG Bunkering Market Forecast: Breakup by Region (USD Billion), 2022-2027
6. North America LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2017-2021
7. North America LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2022-2027
8. Europe LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2017-2021
9. Europe LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Asia Pacific LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Asia Pacific LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Latin America LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Latin America LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Middle East and Africa LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Middle East and Africa LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Global LNG Bunkering Market Structure
In 2020, the global LNG bunkering market attained a value of nearly USD 0.41 billion in 2020.
The market is projected to grow at a CAGR of 43.96% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 3.65 billion by 2026.
The major drivers of the industry, such as the increased demand for LNG bunkering globally due to its lower environmental footprint like reduced CO2 and nitrogen dioxide emissions and low sulphur content compared to the conventional method, growing investments in the maritime transportation industry, stringent government regulations around carbon emissions, and the rapid investments in research and development activities are expected to aid the market growth.
The key market trends guiding the growth of the industry include the stringent sulphur regulations and the rising environmental concerns globally.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant end users considered within the market report include tanker fleet, container fleet, bulk and cargo fleet, ferries and OSV, and others.
The major players in the industry are Royal Dutch Shell Plc, Skangas A, Korea Gas Corporation, Harvey Gulf International Marine, LLC, Engie SA, and others.
The global LNG bunkering market attained a value of USD 0.41 billion in 2020, driven by the stringent regulations pertaining to the sulphur content of marine fuels. Aided by the rising air and water pollution, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 43.96%. The market is projected to reach USD 3.65 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on end user, the industry can be segmented into tanker fleet, container fleet, bulk and cargo fleet, ferries and OSV, and others. The major regional markets for LNG bunkering are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Royal Dutch Shell Plc, Skangas A, Korea Gas Corporation, Harvey Gulf International Marine, LLC, Engie SA, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.