IMARC Group, a leading market research company, has recently releases report titled “Lng Bunkering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global LNG bunkering market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of LNG Bunkering Market

LNG bunkering process generally includes providing liquefied natural gas to ships for loading and distributing the fuel among their tanks. As it has a lower sulfur content and requires comparatively less processing to fulfill the sulfur levels, LNG fuel is widely used as an eco-friendly alternative to conventional fuel in shipping. Liquefied natural gas immediately minimizes sulfur and particulate matter emissions to negligible levels. Consequently, it is gaining extensive traction across the globe.

How big is the LNG Bunkering Market?

The global LNG bunkering market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7.72% during 2023-2028.

What Are the Growth Prospects and Trends in The LNG Bunkering Industry?

The elevating adoption of liquefied natural gas as a shipping fuel with an improved focus on sustainable development, on account of the implementation of stringent regulations by government bodies across countries regarding sulfur content in marine fuel and pollution levels caused by ship transportation, is among the key factors driving the LNG bunkering market. Moreover, continuous advancements in the distribution infrastructures are also stimulating the market growth. Besides this, extensive investments in gas exploration and production activities across the globe are acting as significant growth-inducing factors. Furthermore, the rising usage of truck-to-ship LNG bunkering practices is propelling the global market. Apart from this, the easy availability of liquefied natural gas bunker fuel in major maritime hubs is also positively influencing the market growth. Apart from this, the introduction of LNG-powered ships is resulting in the development of manufacturing and storage facilities, which is catalyzing the global market. Additionally, the growing industrialization levels and the increasing consumer concerns towards the depleting fossil fuels are expected to fuel the LNG bunkering market over the forecasted period. 

What is included in market segmentation?

The report provides detailed segmentation of the global LNG bunkering market based on based on product type and application and region.

Breakup by Product Type:

• Ship-to-Ship
• Truck-to-Ship
• Port-to-Ship
• Portable Tanks

Breakup by Application:

• Cargo Fleet
• Container Fleet
• Tanker Fleet
• Ferries
• Inland Vessels
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

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.

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