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Pulished Date April, 2021
ID: 10210
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LNG Bunkering Market Segmentation By product type (Portable Ships, Port-To-Ship, Ship-To-Ship, Truck-To-Ship), by end user (Ferries, Cruise Ships, Bulk and General Cargo Fleets, Offshore Support Vessel, Tanker Fleet, Container Fleet), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10210
Pages: 175

LNG Bunkering Market Value and Growth Analysis (2021-2026)

The global LNG bunkering market is predicted to grow from USD 12.8 billion in 2021 to USD 17.1 billion by 2026, with a CAGR of 7.4% over the foreseen period. United Nations regulations on the sulfur content of marine fuels and the growing maritime industry are some of the key drivers in the LNG Bunkering market.

New LNG projects around the world have also boosted the market. Natural gas is a combination of a few gases and is colorless; however, it is generally made of methane with an average composition of 70-99% by mass, depending on the calm. The different constituents generally present inflammable gases are ethane, propane, and butane. Natural gas is one of the cleanest fuels available today with a negligible amount of sulfur or burning debris. When employed in an engine, it emits low levels of nitrogen dioxide and carbon dioxide. Refueling is a procedure for refueling ships. The supply of fuel is carried out through pipelines associated with a terminal or direct exchange of trucks or ships.LNG has become an alternative fuel for maritime transport and has been highly adopted by shipping companies, due to strict regulations and respect for the environment. The use of LNG bunker fuel is one of the advantageous solutions to be employed in ferries and other vessels using defined routes. The most widely employed fueling solutions are trucks and terminal supplies. However, these solutions are considered less feasible because trucks deliver small volumes and have a high operating cost. On the other hand, ship fueling is more flexible because it covers multiple locations while offering a lower cost.

LNG Bunkering Market

LNG Bunkering Market Trends:

Developing the world's supply of LNG in ship-to-ship and shore-to-ship fueling is of utmost importance for LNG suppliers to make LNG an alternative to conventional fuel. Therefore, considerable investments are made in port developments to simplify the process of filling LNG on ships.

LNG Bunkering Recent Developments in the industry:

  • Japan's first LNG fueled ship to be launched in 2021. The ship, scheduled for delivery by the end of the year 2021, will be the very first LNG bunkered ship to work in Japan.

  • Singapore's first LNG bunker was launched at the Keppel Nantong shipyard in China. The vessel is under construction for Fuel LNG, a joint venture between Keppel Offshore & Marine and Shell Eastern. The ship joins the growing number of LNG bunker ships around the world. At the beginning of 2019, only six bunkering vessels were operational worldwide.

LNG Bunkering Market Drivers

The global LNG bunkering market is predicted to grow at a high expansion rate during the foreseen period due to the escalating call for marine fuel. Additionally, strict environmental regulations established by the government triggered the need for efficient fuel systems that meet environmental standards and regulatory requirements. For example, the transport sector, which is the largest contributor to oil call in many countries around the world, focuses on cost reduction. LNG-powered ships manage to save up to 25% of the total cost of fuel. LNG sourcing is experiencing the highest expansion rate in both developed and developing countries. The increase in the number of ships using LNG due to the need for cleaner fuels in accordance with strict government regulations to reduce air pollution and maintain sustainability is the main engine driving the expansion of the market. This particular factor is the driving force behind the development of the LNG Bunkering market.

Restraints:

The maritime industry is experiencing a downward trend due to reduced offshore oil and gas activity. The low expansion of the offshore oil and gas industry is affecting the call for offshore service vessels, which in turn restricts the expansion of the LNG Bunkering market. Furthermore, factors such as huge capital investments for the development of LNG bunkers and the availability of alternatives to LNG to reduce the sulfur content, that is, with the use of scrubbers, hinder the expansion of the market to some extent.

Opportunities in the LNG Bunkering Market:

Technological advancements and escalated research and development activities for the development of innovative products, due to strict government policies, are predicted to create potential revenue opportunities for players operating in the target market during the foreseen period. The worldwide LNG sourcing market is predicted to experience a very high expansion rate during the foreseen period due to the various planned LNG projects, some of which are completed and some of which are under development. The escalating adoption of liquefied natural gas (LNG) as bunker fuel and technological advancements in ship-to-ship LNG Bunkering are the main trends observed in the LNG fuel supply market. LNG produces less sulfur and greenhouse gas emissions than traditional marine fuels such as heavy fuel oil, marine diesel and marine diesel. LNG Bunkering is the practice of delivering LNG to ships for consumption. Many laws passed by international organizations and governments aim to encourage the adoption of LNG as a marine fuel, which in turn supports the expansion of the worldwide LNG Bunkering market.

Challenges:

High transportation costs and the security required for the transportation process are the main factors that can slow the expansion of the worldwide market during the foreseen period. Additionally, the lack of infrastructure to supply LNG to fueling sites is another factor that may hamper the expansion of the target market in the near future.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 – 2026

Base Year

2019

Forecast Period

2021 - 2026

CAGR

7.4%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Barents Naturgass AS, Bomin Linde LNG GmbH & Co. KG, ENI Norge AS, Gasnor AS, Harvey Gulf International Marine LLC, Korea Gas Corp, Polskie LNG SA, Statoil ASA, Skangas AS, and SEA\LNG Ltd. 

LNG Bunkering Market

LNG Bunkering Market Segmentation:

By product type:

  • Portable Tanks
  • Ship-To-Ship
  • Port-To-Ship
  • Truck-To-Ship

Based on product type, the ship-to-ship LNG Bunkering segment is predicted to record significant revenue expansion over the foreseen period, due to its advantages such as fast transfer operations and high capacity of 700 to 7,500 tons.

By end user:

  • Ferries
  • Cruise-Ships
  • Bulk And General Cargo Fleet
  • Offshore Support Vessels
  • Tanker Fleet
  • Container Fleet

On an end-user basis, the offshore support vessel segment is predicted to dominate the worldwide market in terms of revenue during the foreseen period, due to its profitable exploration and production activities.

LNG Bunkering Regional Analysis:
The LNG Bunkering Report includes the segmentation of Regions with their respective Countries.

  • North American LNG Bunkering Industry includes U.S, Canada.

  • Europe LNG Bunkering Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
  • Asia Pacific LNG Bunkering Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
  • Latin America LNG Bunkering Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
  • Middle East & Africa LNG Bunkering Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

Historically, Europe has represented a significant part of the worldwide LNG Bunkering market. This can be attributed to the early adoption of LNG as a marine fuel and the presence of Emission Control Zones (ECAs) in the region. Furthermore, European countries are developing strict environmental regulations to reduce air pollution, which, in turn, should encourage the adoption of LNG as a marine fuel in the region. North America is also an important market for LNG Bunkering. The market in the region is mainly driven by the increase in shale gas exploration and the strict environmental regulations implemented by the government. The European market is predicted to dominate the worldwide market in terms of revenue during the foreseen period, due to strict government regulations on emissions related to escalated offshore oil and gas exploration and production activities in several countries in the region. The Asia-Pacific market is predicted to register the fastest expansion during the foreseen period, due to the escalating call for energy in various industrial applications and the escalating use of LNG as a marine fuel. in several countries in this area. The North American market is predicted to register significant expansion in terms of revenue during the foreseen period.

LNG Bunkering Market Key Players:

The key players of global LNG bunkering market are Barents Naturgass AS, Bomin Linde LNG GmbH & Co. KG, ENI Norge AS, Gasnor AS, Harvey Gulf International Marine LLC, Korea Gas Corp, Polskie LNG SA, Statoil ASA, Skangas AS, and SEA\LNG Ltd. 

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 LNG Bunkering Market, By Product Type                     

                             6.1.1 Portable Tanks     

                             6.1.2 Ship-To-Ship         

                             6.1.3 Port-To-Ship         

                             6.1.4 Truck-To-Ship       

                             6.1.5 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.6 Y-o-Y Growth Rate Analysis            

                             6.1.7 Market Attractiveness Index          

              6.2 LNG Bunkering Market, By End-User                            

                             6.2.1 Ferries     

                             6.2.2 Cruise-Ships          

                             6.2.3 Bulk And General Cargo Fleet        

                             6.2.4 Offshore Support Vessels

                             6.2.5 Tanker Fleet          

                             6.2.6 Container Fleet    

                             6.2.7 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.8 Y-o-Y Growth Rate Analysis            

                             6.2.9 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Product Type   

                             7.2.3 By End-User          

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Product Type   

                             7.3.3 By End-User          

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Product Type   

                             7.4.3 By End-User          

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Product Type   

                             7.5.3 By End-User          

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Product Type   

                             7.6.3 By End-User          

8. Key Player Analysis                                

              8.1 Barents Naturgass AS                          

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Bomin Linde LNG GmbH & Co. KG                  

              8.3 ENI Norge AS                          

              8.4 Gasnor AS                 

              8.5 Harvey Gulf International Marine LLC                          

              8.6 Korea Gas Corp                      

              8.7 Polskie LNG SA                       

              8.8 Statoil ASA                

              8.9 Skangas AS               

              8.10 SEA\LNG Ltd                         

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global LNG Bunkering Market By Region, From 2021-2026 ( USD Billion )

  2. Global LNG Bunkering Market By Product Type, From 2021-2026 ( USD Billion )

  3. Global Portable Tanks Market By Region, From 2021-2026 ( USD Billion )

  4. Global Ship-To-Ship Market By Region, From 2021-2026 ( USD Billion )

  5. Global Port-To-Ship Market By Region, From 2021-2026 ( USD Billion )

  6. Global Truck-To-Ship Market By Region, From 2021-2026 ( USD Billion )

  7. Global LNG Bunkering Market By End-User, From 2021-2026 ( USD Billion )

  8. Global Ferries Market By Region, From 2021-2026 ( USD Billion )

  9. Global Cruise-Ships Market By Region, From 2021-2026 ( USD Billion )

  10. Global Bulk And General Cargo Fleet Market By Region, From 2021-2026 ( USD Billion )

  11. Global Offshore Support Vessels Market By Region, From 2021-2026 ( USD Billion )

  12. Global Tanker Fleet Market By Region, From 2021-2026 ( USD Billion )

  13. Global Container Fleet Market By Region, From 2021-2026 ( USD Billion )

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