LNG Bunkering Market Overview:
The procedure of transferring LNG to a ship for its own consumption is known as LNG bunkering. Less shipping emissions, cheaper operation and shipment costs, safety, and non-toxicity are some of the benefits of using LNG as a marine fuel in the shipping sector. The key growth element in the LNG bunkering market is likely to be stricter environmental regulations regarding pollution generated by ship transportation. LNG has been a popular fuel in the maritime sector for the previous five years. Furthermore, efforts to improve LNG distribution infrastructure and the number of LNG-powered ships are increasing, which is projected to fuel market expansion over the projection period.
During the projected period of 2022-2027, the LNG bunkering market is expected to develop at a CAGR of more than 59.4%. Due to temporary export and import limitations, the market witnessed a drop in growth during the COVID-19 epidemic. Due to increased demand for LNG as bunker fuel from maritime transport, the market has rebounded from dropping revenues in the second half of 2021. In terms of market expansion, tight sulphur content restrictions in conventional fuels, as well as enhanced efficiency, are increasing demand for LNG bunkering infrastructure, as ships in various locations begin to embrace LNG as a propulsion fuel.
Our report is a comprehensive study of the dynamics of the global LNG Bunkering Market. The report contains effective penetration plans for both the established and potential entrance to the market. The important leaders operating in the LNG Bunkering Market are well listed in the report.
Global demand for the LNG bunkering market was valued at approximately USD 397.70 million in 2017 and is expected to generate revenue of around USD 11899.60 million by the end of 2024, growing at a CAGR of around 59.4% between 2018 and 2024.
What are the key factors boosting the LNG bunkering market growth?
- Skangas
- Korea Gas Corporation
- Harvey Gulf International Marine LLC
- Fjord Line, Polskie LNG
- Royal Dutch Shell Plc.
- ENN Energy, Prima LNG
- Bomin Linde LNG GmbH & Co KG
- Crowley Maritime Corporation.
The report is a futuristic study of the growth prospects, developments, and restraints of the LNG Bunkering Market. We at Zion Market Research completely understand the importance of in-depth market assessment for a successful growth trajectory. Therefore, our market report is a complete assessment of the different landscapes of the LNG Bunkering Market, including sales volume, market share, market value, and supply chain analysis. The historical growth rates, annual sales, and other crucial matrices are compared to derive a detailed overview of the LNG Bunkering Market over the forecast period.
The report recommends the business penetration plans on the basis of the different analytical models like player positioning analysis, pestle analysis, SWOT analysis, Porter’s five forces analysis, market share analysis, and value chain analysis. Furthermore, these penetration plans are developed by keeping in mind the economies of sales, marketing value, capital investments, promotional efforts, and regulatory legislation. In addition, such datasets will also help industry stakeholders in making mind decisions. The CXOs, founders, and stakeholders can use our report to plan their investments over the forecast period. We have taken care of all the aspects that are important for making capital investments. However, the report has dedicatedly focused on switching costs, fixed cost, distribution cost, product rights, and patents to extract the correct data for investment purposes. Furthermore, the notable developments are addressed in the report to help decision-makers plan important investments in advance. In addition, our analysts and experts have also offered valuable suggestions for both the new players and establishment in allocating the resources and capital investments.
Market segmentation
Global LNG Bunkering Market: Vessel Segment Analysis
- Tankers
- Container Ships
- Bulk & General Cargo Vessels
- Ferries & Offshore Support Vessels Ceramics
Global LNG Bunkering Market: Product Type Segment Analysis
- Portable Tanks
- Ship-to-Ship
- Port-to-Ship
- Truck-to-Ship
Covid-19 pandemic
The report focuses comprehensively on the post-Covid market landscape to help users navigate smoothly to the challenges thrown by the pandemic. Our report is a promising study that covers all the areas of the global LNG Bunkering Market aspects that are likely to be affected deeply by the advent of the Covid-19 pandemic. In addition, the technological transformations, strategic approaches adopted by leading players, and important investments your business needs to make are also well elaborated in the report.
Major Points Covered in TOC:
Outline: Along with an expansive outline of the worldwide LNG Bunkering Market, this segment gives an outline of the report to give a thought regarding the nature and substance of the examination study.
Analysis of Strategies of Leading Players: Market players can use this analysis to gain a competitive advantage over their competitors in the LNG Bunkering Market.
Study on Key Market Trends: This piece of the report offers a more significant assessment of the latest and future examples of the market.
Market Forecasts: Buyers of the report will approach precise and approved evaluations of the all market size as far as worth and volume. The report additionally gives utilization, creation, deals, and different conjectures for the LNG Bunkering Market.
Local Growth Analysis: All critical regions and countries have been covered in the report. The neighborhood examination will help with elevating players to exploit dismissed common business areas, prepare express philosophies for target regions, and contemplate the improvement of each and every regional market.
Segmental Analysis: The report gives precise and solid conjectures of the piece of the pie of significant portions of the LNG Bunkering Market members who can utilize this examination to make key interests in key development pockets of the market.
