Global LNG Bunkering Market Projected to Touch 22,540 kilo tons by 2025

Albany, USA, 2018-May-29 — /EPR Network/ —An insightful study, titled “LNG Bunkering Market” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.

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A thorough overview and analysis of the global LNG bunkering fuel market has been featured in a market intelligence report published recently.The report includes an analytical study of the market’s historical statistics to give insights into the growth trajectory showed by the global market for LNG bunkering in the past and predicts the market’s growth trajectory from 2014 through 2025. It states that the market, which had a valuation of 70 kilo tons in terms of capacity in 2013, will expand at a staggering 63.6% CAGR and rise to 22,540 kilo tons by 2025.The report is titled “LNG Bunkering Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 – 2025” and can be found on the company website for sale.

Natural gas is one of the most commonly used fossil fuels for power generation across the globe and is touted to be the fuel of the 21st century owing to its cleaner nature as compared to other popular fossil fuels such as coal and oil. Natural gas is liquefied to make it more viable for transport and use with ease across several end-use applications.

When used as a fuel for ships, liquefied natural gas is known to bring down sulfur oxide emissions by as much as 90-95% as compared to traditional bunker fuels. This factor is expected to have a significant impact on the global bunkering fuel market, which is exploring new and better bunkering fuel options to comply with the increasingly strict regulations being imposed to cut down sulfur emissions in marine environments. As marine vessels spend most part of their voyage time in emission control zones (ECA), shipping companies are projected to adopt LNG as a safer and equally efficient fuel in the near future.

For the ease of comprehension, the global LNG bunkering market has been segmented in the report on the basis of two criteria: end-user and geography.The key end users of LNG bunkering market examined in the report are container vessels, bulk and general cargo vessels, tanker vessels, and ferries and offshore support vessels (OSVs). Of these, the segment of ferries and offshore support vessels accounts for a dominant share in the global LNG bunkering market. Over the report’s forecast period, the segment of containers is projected to significantly aid the expansion of the global LNG bunkering market, primarily owing to the rising container traffic in Asia Pacific and Europe.

Based on geography, the market has been segmented into Europe, Asia Pacific, North America, and Rest of the World (RoW). Of these, Europe has emerged as the leading regional market for LNG bunkering industry due to the presence of a majority of LNG bunkering stations in the region. The LNG bunkering market in North America is projected to benefit from the continuously declining prices of natural gas in the region.

Some of the major vendors operating in the global LNG bunkering market profiled in the report are Harvey Gulf International Marine LLC., GDF SUEZ S.A, Skangass AS, Korea Gas Corporation, and Gasnor AS.

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Despite increasing opportunities for eco-friendly fuels such as LNG, lack of specialty ports and terminals for fuel handling is slowing the utilization of this fuel. Currently, LNG is used as a bunker fuel for only 45 vessels that trade majorly in the inland waterways of Northern Europe.

However, due to the anticipated sulfur emission regulations further restricting the use of petroleum fuels, the development of LNG bunkering ports has gained momentum in other European regions and North America.

In North America, increasing shale gas exploration activities have led to plunging natural gas prices, which is expected to boost sales of LNG bunker fuel in the region.  In Asia Pacific, countries such as China and South Korea have invested substantially in LNG bunkering terminals. In this region, regulations pertaining to LNG as a bunker fuel will not come into effect before 2020. Hence, Asia Pacific is expected to majorly contribute to the growth of the global LNG bunkering market from 2020 onwards.

Due to these reasons, by capacity, the global LNG bunkering market will exhibit a robust 63.6% CAGR from 2014 to 2025.

Major Companies in Global LNG Bunkering Market

Bomin Linde LNG GmbH & Co. KG, Korea Gas Corporation, Skangass AS, GDF SUEZ S.A., Gasnor AS, and Harvey Gulf International Marine LLC are the major companies that operate in the global LNG bunkering market.

Global LNG Bunkering Market by End User 

• Container Vessels
• Tankers Vessels
• Bulk & General Cargo Vessels
• Ferries & OSV

Global LNG Bunkering Market by Regional 

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

This report gives you access to decisive data such as:

• Market growth drivers
• Factors limiting market growth
• Current market trends
• Market structure
• Market projections for the coming years

Key highlights 

• Overview of key market forces propelling and restraining market growth
• Up-to-date analyses of market trends and technological improvements
• Pin-point analyses of market competition dynamics to offer you a competitive edge
• An analysis of strategies of major competitors
• An array of graphics and SWOT analysis of major industry segments
• Detailed analyses of industry trends
• A well-defined technological growth map with an impact-analysis
• A clear understanding of the competitive landscape and key product segments

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