Market Overview 2022-2027
IMARC Group has recently released a new research study “LNG Bunkering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the LNG bunkering Industry ?
The global LNG bunkeringmarket size reached US$ 2.53 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.1 Billion by 2027, exhibiting a growth rate (CAGR) of 8.10% during 2022-2027.
What is a LNG bunkering market ?
The LNG bunkering process usually involves providing LNG fuel to ships as well as loading and distributing it among their tanks. Furthermore, LNG fuel has a lower sulfur content and requires comparatively less processing to meet the sulfur levels. Consequently,
it is used as an eco-friendly alternative to conventional fuel in inland vessels, ferries, container fleet, etc. In line with this, LNG reduces sulfur and particulate matter to negligible levels while minimizing nitrogen oxide emissions. As a marine fuel, it offers various benefits, including lower operating and shipment costs, improved safety, non-toxic properties, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the LNG bunkering market ?
The growing number of gas exploration and production activities and the inflating levels of industrialization are primarily driving the LNG bunkering market. Additionally, the implementation of several stringent environmental regulations by government bodies across countries regarding sulfur content in marine fuel, increasing pollution levels caused by ship transportation, and continuous advancements in the distribution infrastructures of LNG are further catalyzing the market growth.
Besides this, the widespread adoption of LNG as a shipping fuel with an enhanced focus on sustainable development and its easy availability in maritime hubs are also positively influencing the global market.
Moreover, the introduction of LNG manufacturing and storage facilities and the rising utilization of truck-to-ship LNG bunkering practices are acting as significant growth-inducing factors.
Apart from this, the elevating consumer concerns towards the depletion of fossil fuels and extensive investments in R&D activities by the leading manufacturers are anticipated to fuel the LNG bunkering market over the forecasted period.
|LNG Bunkering Market Report Scope|
|Market size value in 2021||US$ 2.53 Billion|
|Market forecast in 2027||US$ 4.1 Billion|
|Growth Rate||CAGR of 8.10%from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends|
|Segments covered||Product Type and Application|
|Regional scope||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Key companies profiled||Broadview Energy Solutions B.V., Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine LLC, Korea Gas Corporation, Petroliam Nasional Berhad (PETRONAS), Shell plc, SHV Energy NV (SHV Holdings), TotalEnergies SE and Trelleborg AB.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
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The report has been segmented the market into following categories:
Breakup by Product Type:
- Portable Tanks
Breakup by Application:
- Cargo Fleet
- Container Fleet
- Tanker Fleet
- Inland Vessels
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market are Broadview Energy Solutions B.V., Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine LLC, Korea Gas Corporation, Petroliam Nasional Berhad (PETRONAS), Shell plc, SHV Energy NV (SHV Holdings), TotalEnergies SE and Trelleborg AB.
𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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