Global LNG Bunkering Market Value to cross USD 17224.5 MN By 2026
Posted On September 17, 2020
A market research report anticipates the Global LNG Bunkering Market to reach USD 918.8 MN in 2019. It is estimated to grow and reach USD 17224.5 MN mark by 2026. The report publisher, Value Market Research expects a CAGR of 52% during 2020 to 2026. The key factor anticipated to be a significant market driver for the LNG bunkering is the growing demand for cleaner marine fuel. This market's rapid expansion is spurred by the introduction of the latest marine fuel standards by the IMO. As more and more ships switch to LNG, the demand for bunkering will continue to grow at a steady pace. The increase in energy demand and cost-effectiveness of the LNG bunkering will be market boosters. The various barriers that can hinder this market's growth are the cryogenic hazards, explosion hazards, and chances of spillage during fueling.
LNG bunkering is an infrastructural development used to provide zero-carbon fuels or liquified natural gas to the shipping industry. This facility enables sustainable energy in ships and containers and hence protects the environment from the harmful effects of traditional fuels. This facility's critical feature is to ensure safe fueling and evacuation of fuels during an emergency in an LNG powered ship due to the cryogenic nature of the fuel. Many on-dock and near-dock LNG fueling services provided by these rapidly expanding LNG bunkering facilities help cut down CO2 outputs in the shipping industry. Different types of marine vehicles like cruise and containers can use LNG, a reasonably cheaper fuel on an energy-equivalent basis than traditional fuels.
The first chapter of the report "Global LNG Bunkering Market Report By End-User (Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" gives the market introduction with a crisp summary of the report and goes in detailed revenue analysis bifurcated as per segments and regions in the subsequent chapters.
The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future. By End-User the market is divided into Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels, Others. The report identifies region which is expected to dominate the market over the next six years among all the regions studied in the report. North America, Europe, Latin America and Middle East & Africa are deeply researched in the report.
The Report Segments Global LNG Bunkering Market -
- Container Fleet
- Tanker Fleet
- Cargo Fleet
- Inland Vessels
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
GalpEnergia SGPS SA, Gazprom PJSC, Gaz Metro, GDF SUEZ S.A., Hornbeck Offshore Services Inc.
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