The global LNG bunkering market was valued at US $ 0.38 billion in 2019 and is expected to reach US $ 5.14 billion by 2027, growing at a CAGR of 45.2% from 2020 to 2027.

The global shipping industry has faced legislation from the International Maritime Organization (IMO) aimed at significantly limiting sulfur emissions from ships, first in North America and then in Northern Europe in 2015. LNG is a potential solution to meet these requirements because of its negligible sulfur content and its combustion produces little NOx compared to fuel oil and marine diesel. LNG is not only a cleaner burning fuel, but also has economic advantages based on calorific value. Even higher LNG prices in Asia-Pacific are lower than global bunker fuel prices. As a result, there have been recent developments to promote the use of LNG as a bunker fuel.

The IMO regulations regarding the sulfur cap of 0.50% m / m (mass / mass) in 2020 for marine fuels, the increase in maritime trade, especially in t / km traveled, and the lower cost LNG Bunker Fuel Than Other ECA Variants Compliant fuels are the factors driving the growth of the global LNG bunkering market. However, the gap between supply and demand for LNG bunkering is expected to increase with the implementation of IMO regulations; therefore, supply must increase rapidly to meet global demand and the high-priced demand from Asia-Pacific in particular. On the contrary, increased investment and financing for LNG bunkering is expected to create opportunities for key players in LNG bunkering market during the forecast period.

The global LNG bunkering market is segmented on the basis of product type, application, and region. Based on the type of product, the market is categorized into truck-to-ship, port-to-ship, ship-to-ship, and portable tanks. Applications covered by the study include container fleet, tanker fleet, freight fleet, ferries, inland waterway vessels and others. Regarding the region, it is analyzed in North America, Europe, Asia-Pacific and LAMEA.

Key Benefits

• The report includes in-depth analysis of different segments and provides market estimates between 2020 and 2027.
• A comprehensive analysis of the factors driving and limiting the growth of the global LNG bunkering market is provided.
• Porter’s five forces model illustrates the power of buyers and sellers, which should help market participants adopt effective strategies.
• The estimates and forecasts are based on factors affecting the growth of the global LNG bunkering market, in terms of value.
• The major players in the market are profiled to understand the strategies they adopt.
• This report provides a detailed analysis of current trends and future estimates from 2020 to 2027, which helps to identify existing market opportunities.

Key players: Broadview Energy Solutions BV, Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine, Klaw LNG, Korea Gas Corporation, Polskie LNG SA, Royal Dutch Shell Plc, SHV Energy, Total SE, PETRONAS, Exxon Mobil Corporation, ENN Energy Holdings, Ltd, Statoil ASA, Gas Natural Fenosa, Eagle LNG, EVOL LNG, Fjord Line and others.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09082021/new-report-into-the-global-lng-bunkering-industry/