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Global LNG Bunkering Market is expected to grow at a CAGR of 73.62% over the Forecast Period of 2018 – 2024

Infograph - Global LNG Bunkering Market

By Infinium Global Research Aug, 2020

LNG bunkering is the practice of providing liquefied natural gas to a ship for its own consumption. LNG is a cleaner fuel than conventional marine fuels, such as heavy fuel oil, marine diesel fuel, and marine gas fuels.  Stringent government laws to reduce airborne marine emissions that include pollutants such as sulfur and nitrous oxide along with shifting trends towards clean energy are the major factors driving the growth of the LNG bunkering market. In addition, LNG fuel has low sulfur content and needs comparatively less processing to meet the sulfur content limits and hence it will require smaller and less expensive modifications compared to conventional marine fuels. For instance, the regulation passed by the International Maritime Organization (IMO) in 2012, that stated, ships must reduce their sulfur content in fuel from 4.5% to 3.5%. However, higher capital investments and poor bunkering infrastructure are the factors, anticipated to restrain the growth of the LNG bunkering market during the forecast period.

The report on Global LNG Bunkering Market covers segments such as product type and end user. The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The report provides profiles of the companies in the global Gazpromneft Marine Bunker Ltd, ENN Group, Eagle LNG Partners, Polskie LNG SA, Harvey Gulf International Marine LLC, Korea Gas Corporation, Skangass AS, Royal Dutch Shell PLC, and ENGIE.

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