The LNG bunkering market is anticipated to witness considerable growth during the forecast period, owing to factors such as IMO regulation on the sulfur content in marine fuel and an increase in gas exploration & production activities. However, the demand-supply gap for LNG bunkering is the key factor restraining the growth of the market in the upcoming years. On the contrary, an increase in attention and utilization of LNG as bunker fuel create opportunities for the key players in LNG bunkering financing.
LNG 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.
Get a PDF brochure for Industrial Insights and Business
Intelligence @ https://www.alliedmarketresearch.com/request-sample/2213
The rise in marine-borne trade has increased the demand for
LNG as bunker fuel and LNG bunkering services. Furthermore, an increase in gas
exploration and production activities in emerging gas regions drives the growth
of the LNG bunkering market as many bunker fuel suppliers changed their focus
of operation to these offshore resource sites. In addition, the IMO regulation
on sulfur content in marine fuel has forced the shipping industry to focus on
new alternatives such as LNG, which is less harmful to the marine environment,
which in turn is anticipated to fuel the market growth in the upcoming years.
Moreover, growth in opportunities for market players to expand the business of
LNG bunkering in emerging economies such as India, Japan, South Korea, and
China is expected to provide lucrative opportunities for the growth of the
global LNG bunkering market, due to the exploration of untapped hydrocarbon
reserves in these oil & gas emerging countries.
Depending on the product type, the ship-to-ship segment held
the highest market share of around 60.5% in 2019 and is expected to maintain
its dominance during the forecast period. This is due to the rise in the number
of ships using LNG due to the need for cleaner fuel in compliance with
stringent government regulations to minimize air pollution and preserve
sustainability. In addition, due to advantages such as fast transfer operations
and a high capacity of 700-7,500 tons, the ship-to-ship LNG bunkering segment is
expected to witness substantial revenue growth during the forecast period.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/2213
On the basis of application, the cargo fleet segment holds
the largest market share, in terms of revenue, and is expected to grow at a
CAGR of 45.4%. This is owing to an increase in demand for cargo transportation
through ships and a rise in trade-related agreements. In addition, a rise in
the number of manufacturing units and factories in the region such as
Asia-Pacific and LAMEA is anticipated to drive the growth of the LNG bunkering
market for cargo shipping.
On the basis of the region, the market is analyzed across
North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the dominant
share in 2019 and is anticipated to maintain this trend during the forecast
period. This is attributed to numerous factors such as the presence of a huge consumer
base and an increase in maritime trade activities in the region. Moreover, the
rise in LNG bunkering infrastructure development activities in the European
region is anticipated to contribute toward the growth of the LNG bunkering
market in Europe.
The global LNG bunkering market analysis covers in-depth
information of the major industry participants. The key players operating and
profiled in the report include Broadview Energy Solutions B.V., Crowley
Maritime Corporation, Gasum Oy, Harvey Gulf International Marine, Klaw LNG,
Korea Gas Corporation, Polskie LNG S.A., Royal Dutch Shell Plc, SHV Energy,
Total SE, PETRONAS, and Exxon Mobil Corporation.
Other players operating in the value chain of the global LNG
bunkering industry are ENN Energy Holdings, Ltd., Statoil ASA, Gas Natural
Fenosa, Eagle LNG, EVOL LNG, Fjord Line, and others.
Get a Customized Research Report @ https://www.alliedmarketresearch.com/request-for-customization/2213
Key Findings Of The Study
- In
2019, the ship-to-ship segment accounted for around 60.5% of the share in
the global LNG bunkering market and is expected to maintain its dominance
throughout the forecast period.
- In
2019, the cargo fleet segment accounted for 24.8% market share in the year
2019 and is anticipated to grow at a rate of 25.1% in terms of revenue,
increasing its share in the global LNG bunkering market.
- Container
fleet is the fastest-growing application in the Asia-Pacific LNG bunkering
market, expected to grow at a CAGR of 46.2% during 2020–2027.
- Asia-Pacific
is expected to grow at the fastest rate, registering a CAGR of 45.9%,
throughout the forecast period.
- In
2019, Europe dominated the global LNG bunkering market with more than
39.4% of the share, in terms of revenue.
About Us
Allied Market Research (AMR) is a full-service market
research and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market Research provides global enterprises as well as
medium and small businesses with unmatched quality “Market Research Reports” and
“Business Intelligence Solutions.” AMR has a targeted view to provide business
insights and consulting to assist its clients to make strategic business
decisions and achieve sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is
leading the organization toward providing high-quality data and insights. We
are in professional corporate relations with various companies and this helps
us in digging out market data that helps us generate accurate research data
tables and confirms the utmost accuracy in our market forecasting. Each and
every data presented in the reports published by us is extracted through
primary interviews with top officials from leading companies of the domain
concerned. Our secondary data procurement methodology includes deep online and
offline research and discussion with knowledgeable professionals and analysts
in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
No comments:
Post a Comment