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:
Barents Naturgass As
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
Bulk & General Cargo
Offshore Vessels & Ferries
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
*The other players in the value chain include
Galp Energia SGPS SA
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.
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
22.214.171.124. IMO regulations of sulfur cap for marine fuels
126.96.36.199. Increase in marine trade
188.8.131.52. Lower cost of LNG bunker fuel compared to other ECA-compliant fuels
184.108.40.206. Demand supply gap
220.127.116.11. Development of LNG bunkering infrastructure and regulatory framework
3.5. MARKET SHARE ANALYSIS, 2016 (%)
CHAPTER 4. GLOBAL LNG BUNKERING MARKET, BY END USER
4.1.1. 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
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast
CHAPTER 5. GLOBAL LNG BUNKERING MARKET, BY GEOGRAPHY
5.1.1. 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
18.104.22.168. Market size and forecast, by end user
22.214.171.124. Market size and forecast, by end user
126.96.36.199. Market size and forecast, by end user
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast
188.8.131.52. Market size and forecast, by end user
184.108.40.206. Market size and forecast, by end user
220.127.116.11. Market size and forecast, by end user
18.104.22.168. Market size and forecast, by end user
22.214.171.124. Market size and forecast, by end user
5.3.8. Rest of Europe
126.96.36.199. Market size and forecast, by end user
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast
188.8.131.52. Market size and forecast, by end user
184.108.40.206. Market size and forecast, by end user
220.127.116.11. Market size and forecast, by end user
5.4.6. South Korea
18.104.22.168. Market size and forecast, by end user
5.4.5. Rest of Asia-Pacific
22.214.171.124. Market size and forecast, by end user
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast
126.96.36.199. Market size and forecast, by end user
188.8.131.52. Market size and forecast, by end user
184.108.40.206. Market size and forecast, by end user
5.5.6. Rest of LAMEA
220.127.116.11. 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
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.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.