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Global LNG Bunkering Market: By End User: Tanker Fleet, Container Fleet, Bulk and Cargo Fleet, Ferries and OSV, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; Competitive Landscape; Industry Events and Developments
Global LNG Bunkering Market Outlook
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 2023-2028 to attain a value of around USD 3.65 billion by 2026.
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Heightened Demand for Bulk and Cargo Fleet to Propel the Global LNG Bunkering Industry
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. 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 to Account for a Significant Market Share in the Global LNG Bunkering Industry
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: Market Segmentation
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.
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On the basis of end user, the market is divided into:
- Tanker Fleet
- Container Fleet
- Bulk and Cargo Fleet
- Ferries and OSV
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Stringent Sulphur Regulations to Augment the Growth of the Global LNG Bunkering Industry
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.
Key Industry Players in the Global LNG Bunkering Market
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:
- Royal Dutch Shell Plc
- Skangas A
- Korea Gas Corporation
- Harvey Gulf International Marine, LLC
- Engie SA
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
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
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global LNG Bunkering Market Analysis
8.1 Key Industry Highlights
8.2 Global LNG Bunkering Historical Market (2018-2022)
8.3 Global LNG Bunkering Market Forecast (2023-2028)
8.4 Global LNG Bunkering Market by End User
8.4.1 Tanker Fleet
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Container Fleet
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Bulk and Cargo Fleet
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Ferries and OSV
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global LNG Bunkering Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America LNG Bunkering Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe LNG Bunkering Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific LNG Bunkering Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America LNG Bunkering Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa LNG Bunkering Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Royal Dutch Shell Plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Skangas A
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Korea Gas Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Harvey Gulf International Marine, LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Engie SA
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global LNG Bunkering Market: Key Industry Highlights, 2018 and 2028
2. Global LNG Bunkering Historical Market: Breakup by End User (USD Billion), 2018-2022
3. Global LNG Bunkering Market Forecast: Breakup by End User (USD Billion), 2023-2028
4. Global LNG Bunkering Historical Market: Breakup by Region (USD Billion), 2018-2022
5. Global LNG Bunkering Market Forecast: Breakup by Region (USD Billion), 2023-2028
6. North America LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2018-2022
7. North America LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2023-2028
8. Europe LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2018-2022
9. Europe LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Asia Pacific LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Asia Pacific LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Latin America LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Latin America LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Middle East and Africa LNG Bunkering Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Middle East and Africa LNG Bunkering Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Global LNG Bunkering Market Structure
Key Questions Answered in the Report
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 2023-2028 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.
Analyst Review
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 2023-2028, 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.
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