The global demand for LNG Bunkering Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
LNG bunkering is the practice of transferring liquefied natural gas to a ship as a fuel for its consumption. Loading LNG into a ship's fuel tank is a different process from loading HFO due to the differences in properties. As LNG is gas at room temperature, it is carried as a boiling liquid and requires special handling of the LNG. LNG is bunkered at cryogenic temperatures so special equipment and procedures are required that follows regulation and standard designed by an organization such as SIGTTO, OCIMF, IMO, ISO, EN, and NFPA.
Environment regulators have been putting the pressure on the maritime industry to reduce the amount of carbon emission caused by ship transportation. Attributed to newly imposed sulphur regulation coming into action in Jan 2020, LNG bunkering is projected to grow as a sustainable method of fueling ships. The declaration of new rules by IMO will change the overall outlook of the market. As LNG Bunkering is less pollutant method compared to the other traditional methods of fueling like marine gas oil and heavy fuel oil. Liquefied natural gas has great potential as ship fuel for three reasons: consumption is clean, meets the current and future emission standards, and price-wise LNG is competitive with fuel oil. Yet, most conventional ships will continue to use conventional fuel oil as using LNG require installation of the new system and implement adapted risk. This is estimated to hinder the growth of the market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of LNG Bunkering.
The entire LNG Bunkering market has been sub-categorized into end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Container Fleet
- Tanker Fleet
- Cargo Fleet
- Inland Vessels
This section covers regional segmentation which accentuates on current and future demand for LNG Bunkering market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global LNG Bunkering Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the LNG Bunkering market include GalpEnergia SGPS SA, Gazprom PJSC, Gaz Metro, GDF SUEZ S.A., Hornbeck Offshore Services Inc.This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.