The global LNG bunkering market size reached US$ 2.8 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 4.5 Billion by 2028, exhibiting a CAGR of 8.23% during 2022-2028.
The LNG bunkering process involves providing LNG fuel to ships for their consumption, including loading and distributing the fuel among their tanks. LNG fuel bunkering requires the bunker ship that carries the fuel and transfers it to the cargo ship or passenger ship to follow the sulfur content regulations. As LNG fuel has a lower sulfur content and requires comparatively less processing to meet the sulfur levels, it is used as an eco-friendly alternative to conventional fuel in shipping. LNG immediately reduces sulfur and particulate matter emissions to negligible levels while reducing nitrogen oxide emissions significantly. As a marine fuel, LNG has a number of benefits, including less shipping emissions, lower operating and shipment costs, safety, and non-toxic properties.
2. What is the expected growth rate of the global LNG bunkering market during 2023-2028?
3. What are the key factors driving the global LNG bunkering market?
4. What has been the impact of COVID-19 on the global LNG bunkering market?
5. What is the breakup of the global LNG bunkering market based on the product type?
6. What is the breakup of the global LNG bunkering market based on the application?
7. What are the key regions in the global LNG bunkering market?
8. Who are the key players/companies in the global LNG bunkering market?
The LNG bunkering process involves providing LNG fuel to ships for their consumption, including loading and distributing the fuel among their tanks. LNG fuel bunkering requires the bunker ship that carries the fuel and transfers it to the cargo ship or passenger ship to follow the sulfur content regulations. As LNG fuel has a lower sulfur content and requires comparatively less processing to meet the sulfur levels, it is used as an eco-friendly alternative to conventional fuel in shipping. LNG immediately reduces sulfur and particulate matter emissions to negligible levels while reducing nitrogen oxide emissions significantly. As a marine fuel, LNG has a number of benefits, including less shipping emissions, lower operating and shipment costs, safety, and non-toxic properties.
LNG Bunkering Market Trends:
The market is majorly driven by the increasing adoption of LNG as a shipping fuel with an enhanced focus on sustainable development. This can be attributed to the stringent environmental regulations regarding sulfur content in marine fuel and pollution caused by ship transportation. In line with this, continual advancements in the distribution infrastructure of LNG are providing an impetus to the market. Moreover, a significant increase in gas exploration and production activities across the globe is creating a positive outlook for the market. The market is further driven by a considerable rise in the uptake of truck-to-ship LNG bunkering practices across the globe. Apart from this, the easy availability of LNG bunker fuel in most of the major maritime hubs is impacting the market positively. The launch of LNG-powered ships resulting in the rapid development of LNG manufacturing and storage facilities are also acting as a significant growth-inducing factor for the market. Some of the other factors contributing to the market include rapid urbanization and industrialization, the growing concerns over the depletion of fossil fuels and extensive research and development (R&D) activities conducted by key players.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global LNG bunkering market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.Breakup by Product Type:
- Ship-to-Ship
- Truck-to-Ship
- Port-to-Ship
- Portable Tanks
Breakup by Application:
- Cargo Fleet
- Container Fleet
- Tanker Fleet
- Ferries
- Inland Vessels
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Broadview Energy Solutions B.V., Crowley Maritime Corporation, Gasum Oy, Harvey Gulf International Marine LLC, Korea Gas Corporation, Petroliam Nasional Berhad (PETRONAS), Shell plc, SHV Energy NV (SHV Holdings), TotalEnergies SE and Trelleborg AB.Key Questions Answered in This Report
1. What was the size of the global LNG bunkering market in 2022?2. What is the expected growth rate of the global LNG bunkering market during 2023-2028?
3. What are the key factors driving the global LNG bunkering market?
4. What has been the impact of COVID-19 on the global LNG bunkering market?
5. What is the breakup of the global LNG bunkering market based on the product type?
6. What is the breakup of the global LNG bunkering market based on the application?
7. What are the key regions in the global LNG bunkering market?
8. Who are the key players/companies in the global LNG bunkering market?
Table of Contents
1 Preface2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global LNG Bunkering Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Ship-to-Ship
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Truck-to-Ship
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Port-to-Ship
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Portable Tanks
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Application
7.1 Cargo Fleet
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Container Fleet
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Tanker Fleet
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Ferries
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Inland Vessels
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Broadview Energy Solutions B.V.
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 Crowley Maritime Corporation
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 SWOT Analysis
13.3.3 Gasum Oy
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Harvey Gulf International Marine LLC
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Korea Gas Corporation
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.5.4 SWOT Analysis
13.3.6 Petroliam Nasional Berhad (PETRONAS)
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 SWOT Analysis
13.3.7 Shell plc
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.8 SHV Energy NV (SHV Holdings)
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 TotalEnergies SE
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.9.4 SWOT Analysis
13.3.10 Trelleborg AB
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 Financials
List of Figures
Figure 1: Global: LNG Bunkering Market: Major Drivers and Challenges
Figure 2: Global: LNG Bunkering Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: LNG Bunkering Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: LNG Bunkering Market: Breakup by Product Type (in %), 2022
Figure 5: Global: LNG Bunkering Market: Breakup by Application (in %), 2022
Figure 6: Global: LNG Bunkering Market: Breakup by Region (in %), 2022
Figure 7: Global: LNG Bunkering (Ship-to-Ship) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: LNG Bunkering (Ship-to-Ship) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: LNG Bunkering (Truck-to-Ship) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: LNG Bunkering (Truck-to-Ship) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: LNG Bunkering (Port-to-Ship) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: LNG Bunkering (Port-to-Ship) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: LNG Bunkering (Portable Tanks) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: LNG Bunkering (Portable Tanks) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: LNG Bunkering (Cargo Fleet) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: LNG Bunkering (Cargo Fleet) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: LNG Bunkering (Container Fleet) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: LNG Bunkering (Container Fleet) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: LNG Bunkering (Tanker Fleet) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: LNG Bunkering (Tanker Fleet) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: LNG Bunkering (Ferries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: LNG Bunkering (Ferries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: LNG Bunkering (Inland Vessels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: LNG Bunkering (Inland Vessels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: LNG Bunkering (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: LNG Bunkering (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: North America: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: North America: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: United States: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: United States: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Canada: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Canada: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Asia-Pacific: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Asia-Pacific: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: China: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: China: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Japan: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Japan: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: India: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: India: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: South Korea: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: South Korea: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Australia: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Australia: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Indonesia: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Indonesia: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Others: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Others: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Europe: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Europe: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Germany: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Germany: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: France: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: France: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: United Kingdom: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: United Kingdom: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Italy: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Italy: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Spain: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Spain: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Russia: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Russia: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Others: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Others: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Latin America: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Latin America: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Brazil: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Brazil: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Mexico: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Mexico: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Others: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Others: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Middle East and Africa: LNG Bunkering Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Middle East and Africa: LNG Bunkering Market: Breakup by Country (in %), 2022
Figure 75: Middle East and Africa: LNG Bunkering Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Global: LNG Bunkering Industry: SWOT Analysis
Figure 77: Global: LNG Bunkering Industry: Value Chain Analysis
Figure 78: Global: LNG Bunkering Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: LNG Bunkering Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: LNG Bunkering Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: LNG Bunkering Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: LNG Bunkering Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: LNG Bunkering Market: Competitive Structure
Table 6: Global: LNG Bunkering Market: Key Players
Companies Mentioned
- Broadview Energy Solutions B.V.
- Crowley Maritime Corporation
- Gasum Oy
- Harvey Gulf International Marine LLC
- Korea Gas Corporation
- Petroliam Nasional Berhad (PETRONAS)
- Shell plc
- SHV Energy NV (SHV Holdings)
- TotalEnergies SE
- Trelleborg AB.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2.8 Billion |
| Forecasted Market Value ( USD | $ 4.5 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
