LNG Bunkering Market by End-User - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4368940
  • Report
  • Region: Global
  • 180 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Barents Naturgass As
  • Engie SA
  • Eni Norge AS
  • Gasnor As
  • Korea Gas Corp.
  • Polskie LNG SA
  • MORE
The global LNG bunkering market was valued at $214 million in 2016, and is expected to reach $10,185 million by 2023, registering a CAGR of 58.5% from 2017 to 2023. Liquid Natural Gas (LNG) is an environment-friendly and commercially attractive fuel used in ships. LNG as a marine fuel has gained importance in the last few years due to the upcoming regulations on sulfur emissions. Technical solutions for LNG supply infrastructure and on-board storage and processing are available.

The International Maritime Organization’s regulations of sulfur cap of 0.50% m/m (mass/mass) in 2020 for marine fuels, increase in ocean-borne trade, especially in ton-km travelled, and lower cost of LNG bunker fuel than other variants of ECA-compliant fuels are the factors that drive the development of the global LNG bunkering market. However, demand-supply gap for LNG bunkering is expected to hamper the market growth. Moreover, development of LNG bunkering infrastructure and regulatory framework is expected to be a key challenge for the market.

The global LNG bunkering market is segmented based on end user and geography. By end user, it is categorized into tanker fleet, bulk & general cargo, offshore vessels & ferries, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In 2016, Europe occupied the highest market share, followed by Asia-Pacific. Asia-Pacific is expected to account for one-third share of the global LNG bunkering market by 2023, witnessing substantial growth in the emerging countries, such as, China, India, and South Korea.

The prominent players in the global LNG bunkering market focus on product development and agreements as their key strategies to gain significant market share.

The key players profiled in the report are as follows:

Skangas AS
Gasnor As
Statoil ASA
Barents Naturgass As
Engie SA
Bomin Linde LNG GmbH & Co. KG
Eni Norge AS
Harvey Gulf International Marine Llc.
Polskie LNG SA
Korea Gas Corp.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the LNG bunkering market.
In-depth analysis of LNG bunkering market is conducted and estimations for key segments between 2014 and 2022 are provided.
Comprehensive analysis of factors that drive and restrain the growth of the market are provided.
LNG bunkering market share for all segments with respect to each geography is detailed in the report.

Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the LNG bunkering industry trends.

KEY MARKET SEGMENTS

By End User

Tanker Fleet
Bulk & General Cargo
Offshore Vessels & Ferries
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
Belgium
Spain
France
UK
The Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
UAE
Brazil
Argentina
Rest of LAMEA

*The other players in the value chain include

Galp Energia SGPS SA
Gazprom PJSC
Gaz Metro
GDF SUEZ S.A.
Hornbeck Offshore Services Inc.
Gulfmark Offshore Inc.
Compañía Española de Petroleos SAU

*Profiles of these players are not included in the report, but can be included on request.
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FEATURED COMPANIES

  • Barents Naturgass As
  • Engie SA
  • Eni Norge AS
  • Gasnor As
  • Korea Gas Corp.
  • Polskie LNG SA
  • MORE
CHAPTER 1. INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model

CHAPTER 2. EXECUTIVE SUMMARY

2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies

3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. IMO regulations of sulfur cap for marine fuels
3.4.1.2. Increase in marine trade
3.4.1.3. Lower cost of LNG bunker fuel compared to other ECA-compliant fuels

3.4.2. Restraint

3.4.2.1. Demand supply gap

3.4.3. Opportunity

3.4.3.1. Development of LNG bunkering infrastructure and regulatory framework

3.5. MARKET SHARE ANALYSIS, 2016 (%)

CHAPTER 4. GLOBAL LNG BUNKERING MARKET, BY END USER

4.1. INTRODUCTION

4.1.1. Market Size and Forecast

4.2. TANKER FLEET

4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast

4.3. BULK & GENERAL CARGO

4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast

4.4. OFFSHORE VESSELS & FERRIES

4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast

4.5. OTHERS

4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast

CHAPTER 5. GLOBAL LNG BUNKERING MARKET, BY GEOGRAPHY

5.1. INTRODUCTION

5.1.1. Market Size and Forecast

5.2. NORTH AMERICA

5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast
5.2.3. U.S.

5.2.3.1. Market size and forecast, by end user

5.2.4. Canada

5.2.4.1. Market size and forecast, by end user

5.2.5. Mexico

5.2.5.1. Market size and forecast, by end user

5.3. EUROPE

5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast
5.3.3. UK

5.3.3.1. Market size and forecast, by end user

5.3.4. Germany

5.3.4.1. Market size and forecast, by end user

5.3.5. France

5.3.5.1. Market size and forecast, by end user

5.3.6. Italy

5.3.6.1. Market size and forecast, by end user

5.3.7. Spain

5.3.7.1. Market size and forecast, by end user

5.3.8. Rest of Europe

5.3.8.1. Market size and forecast, by end user

5.4. ASIA-PACIFIC

5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast
5.4.3. China

5.4.3.1. Market size and forecast, by end user

5.4.4. Japan

5.4.4.1. Market size and forecast, by end user

5.4.5. India

5.4.5.1. Market size and forecast, by end user

5.4.6. South Korea

5.4.6.1. Market size and forecast, by end user

5.4.5. Rest of Asia-Pacific

5.4.5.1. Market size and forecast, by end user

5.5. LAMEA

5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast
5.5.3. UAE

5.5.3.1. Market size and forecast, by end user

5.5.4. Brazil

5.5.4.1. Market size and forecast, by end user

5.5.5. Argentina

5.5.5.1. Market size and forecast, by end user

5.5.6. Rest of LAMEA

5.5.6.1. Market size and forecast, by end user

CHAPTER 6. COMPANY PROFILES

6.1. BARENTS NATURGASS AS

6.1.1. Company Overview
6.1.2. Company Snapshot
6.1.3. Operating Business Segments
6.1.4. Business Performance
6.1.5. Key Strategic Moves and Developments

6.2. BOMIN LINDE LNG GMBH & CO. KG

6.2.1. Company Overview
6.2.2. Company Snapshot
6.2.3. Operating Business Segments
6.2.4. Business Performance
6.2.5. Key Strategic Moves and Developments

6.3. ENGIE SA

6.3.1. Company Overview
6.3.2. Company Snapshot
6.3.3. Operating Business Segments
6.3.4. Business Performance
6.3.5. Key Strategic Moves and Developments

6.4. ENI NORGE AS

6.4.1. Company Overview
6.4.2. Company Snapshot
6.4.3. Operating Business Segments
6.4.4. Business Performance
6.4.5. Key Strategic Moves and Developments

6.5. GASNOR AS

6.5.1. Company Overview
6.5.2. Company Snapshot
6.5.3. Operating Business Segments
6.5.4. Business Performance
6.5.5. Key Strategic Moves and Developments

6.6. HARVEY GULF INTERNATIONAL MARINE LLC

6.6.1. Company Overview
6.6.2. Company Snapshot
6.6.3. Operating Business Segments
6.6.4. Business Performance
6.6.5. Key Strategic Moves and Developments

6.7. KOREA GAS CORP

6.7.1. Company Overview
6.7.2. Company Snapshot
6.7.3. Operating Business Segments
6.7.4. Business Performance
6.7.5. Key Strategic Moves and Developments

6.8. POLSKIE LNG SA

6.8.1. Company Overview
6.8.2. Company Snapshot
6.8.3. Operating Business Segments
6.8.4. Business Performance
6.8.5. Key Strategic Moves and Developments

6.9. SKANGAS AS

6.9.1. Company Overview
6.9.2. Company Snapshot
6.9.3. Operating Business Segments
6.9.4. Business Performance
6.9.5. Key Strategic Moves and Developments

6.10. STATOIL ASA

6.10.1. Company Overview
6.10.2. Company Snapshot
6.10.3. Operating Business Segments
6.10.4. Business Performance
6.10.5. Key Strategic Moves and Developments
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FEATURED COMPANIES

  • Barents Naturgass As
  • Engie SA
  • Eni Norge AS
  • Gasnor As
  • Korea Gas Corp.
  • Polskie LNG SA
  • MORE
According to a new report published by Allied Market Research titled, LNG bunkering Market by End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the LNG bunkering market was valued at $214 million in 2016, and is projected to reach $10,185 million by 2023, growing at a CAGR of 58.5% from 2017 to 2023. Europe dominates the LNG bunkering market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.

LNG (Liquid Natural Gas) is an attractive alternative fuel for seagoing vessels and inland vessels, as liquefied natural gas emits fewer polluting substances. LNG is a potential substitute according to IMO emission prerequisites, owing to its negligible sulfur content and low production of NOx contrary to fuel oil and marine diesel oil. LNG is clean burning fuel coupled with financial points of interest on a calorific value basis among other fuels.

The global LNG bunkering market is driven by International Maritime Organizations regulations of sulfur emissions to 0.50% m/m (mass/mass) by 2020 in marine fuels, increase in sea-borne trade, particularly in terms of ton-km travelled, and low cost among ECAs. However, the demandsupply gap among LNG bunkers and vessels is expected to hamper the market growth.

The offshore vessels & ferries segment accounted for more than one-third share of the total market share in 2016, in terms of volume, and is expected to maintain its dominance during the forecast period, owing to its ease of transportation and loading. However, bulk & general cargo vessels are also expected to grow with high rate due to rise in demand for low sulfur fuels.

Key Findings of the LNG bunkering Market:

In terms of value, the offshore vessels & ferries segment is expected to grow at a CAGR of 58.8% during the forecast period.
In terms of volume, the global LNG bunkering market is expected to grow at a CAGR of 47.7% during the forecast period.
In Europe, Belgium is estimated to grow at the highest CAGR of 59.6% during the forecast period, in terms of value.
Tanker fleet as end users occupied around one-fourth of the global market share in 2016, in terms of volume.
China accounted for over one-tenth of the global LNG bunkering market in 2016, and is expected to grow at a significant CAGR of 49.1%, in terms of volume.
In 2016, Asia-Pacific and Europe collectively accounted for over two-thirds of the global LNG bunker market, by volume, though Asia-Pacific is expected to grow at a faster rate during the forecast period. High trade frequency from the emerging countries, such as South Korea, India, and China, is estimated to drive the market growth.

The major companies profiled in the report include, Skangas AS, Gasnor As, Statoil ASA, Barents Naturgass As, Engie SA, Bomin Linde LNG GmbH & Co. KG, Eni Norge AS, Harvey Gulf International Marine Llc., Polskie LNG SA, and Korea Gas Corp.
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  • Skangas AS
  • Gasnor As
  • Statoil ASA
  • Barents Naturgass As
  • Engie SA
  • Bomin Linde LNG GmbH & Co. KG
  • Eni Norge AS
  • Harvey Gulf International Marine Llc.
  • Polskie LNG SA
  • Korea Gas Corp.
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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