Global LNG Bunkering Industry 2018 Market Research Report, Popular Trends & Technological Advancements, Forecast & Opportunities
LNG Bunkering Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of lng bunkering market by product type (portable tanks, ship-to-ship, truck-to-ship and port-to-ship), end user (ferries, bulk and general cargo fleet, cruise-ships, tanker fleet, and container fleet), region (North America, Europe, and Rest of the World) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the lng bunkering market it includes the five years Industry analysis and the 6 years annual forecast from to 2024. Some of the prominent participants in the global lng bunkering market are 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. The global LNG bunkering market is projected to grow at a CAGR of 73.6% over the forecast period of 2018-2024.
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LNG Bunkering Market: Drivers, Restrain and Opportunities
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.
Furthermore, Security and safety zones around the bunkering operation need to be set up, to reduce the risk of damage to property and personnel from the LNG hazards. Moreover, LNG has higher combustion efficiency and it has a lower volume as that of natural gas with relatively cost-effective transportation and storage facilities. This, in turn, has led to widespread adoption of LNG across various industries creating several growth opportunities for the key players in the LNG bunkering market.
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North America and Europe are Anticipated to Experience the Fastest Growth in the LNG Bunkering Market
Among the geographies, North America and Europe are anticipated to experience the fastest growth in the LNG bunkering market. Increasing focus to maintain the fossil fuels sustainability along with rising concern to minimize environmental impact is anticipated to drive the business growth in the European regions.
Moreover, countries such as India and China are projected to drive the marine trade in the Asia Pacific regions. The growth of this regional market is predictable since Norway is considered as the biggest bunking center as it offers more than 18,000 LNG bunk stations. According to the International Energy Agency, the energy demand from Southeast Asia from 2000 to 2013 had expanded by more than 50 such initiatives and are anticipated to drive LNG bunkering market growth in the Asia Pacific region over the forecast period.
LNG Bunkering Market: Segmentation
The report on global LNG bunkering market covers segments such as product type and end user. On the basis of product type, the global LNG bunkering market is categorized into portable tanks, ship-to-ship, truck-to-ship, and port-to-ship. On the basis of end user, the global LNG bunkering market is categorized into ferries, bulk and general cargo fleet, offshore support vessels, cruise-ships, tanker fleet, and container fleet.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the lng bunkering.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.