Flame Resistant Fabrics Market 2024 | Global Key Players : Milliken & Company, TenCate, PBI Performance Products, Gun Ei Chemical Industry Co., Ltd

Usage of liquefied natural gas (LNG) as a ship fuel reduces sulfur oxide (SOx) emissions by 90% to 95% compared to conventional petroleum fuels. Due to strict sulfur emission mandates in place executed via Annexure VI of the International Maritime Organization (IMO), an increasing number of shipping companies and vessel operators are switching to LNG as a bunker fuel.

Get Sample Copy of LNG Bunkering Market at @ https://www.mrrse.com/sample/684

The report studies the Global LNG Bunkering Market on the basis of end users and geography. The high-level analysis offers in-depth insights into the LNG bunker supply business globally. This report covers key market dynamics that affect the demand for LNG bunker fuel, which are illustrated through numerous graphs and tables.

The market study presents market size forecast in terms of revenue and volume for the period from 2014 to 2025. Employing analytical tools such as Porter’s Five Forces, the report provides a comprehensive analysis of the global LNG bunkering market. The report comprehensively discusses the competitive front and features profiles of major companies operating in the LNG bunkering market.

For shipping companies and vessel operators, the utilization of LNG is an attractive bunkering alternative for waterways determined as emission control areas (ECAs). In North America and Europe, the lower cost of LNG bunker fuel in comparison to other ECA-compliant fuels is the major reason propelling the LNG bunkering market.

The use of LNG as a bunker fuel curbs sulfur emission substantially, which addresses one of the major shortcomings of conventional bunker fuels. LNG bunker fuel largely complies with the new sulfur regulations to in effect in Northern Europe and North America. Additional regulations pertaining to sulfur emission limits are expected to be enforced by 2020. Thus, the maritime industry counts on LNG as a ship fuel for the present and the future, which holds promise for the global LNG bunkering market.

Despite increasing opportunities for eco-friendly fuels such as LNG, lack of specialty ports and terminals for fuel handling is slowing the utilization of this fuel. Currently, LNG is used as a bunker fuel for only 45 vessels that trade majorly in the inland waterways of Northern Europe.

Explore More – Access Complete Research Reports with TOC @ https://www.mrrse.com/enquiry/684

However, due to the anticipated sulfur emission regulations further restricting the use of petroleum fuels, the development of LNG bunkering ports has gained momentum in other European regions and North America.

In North America, increasing shale gas exploration activities have led to plunging natural gas prices, which is expected to boost sales of LNG bunker fuel in the region. In Asia Pacific, countries such as China and South Korea have invested substantially in LNG bunkering terminals. In this region, regulations pertaining to LNG as a bunker fuel will not come into effect before 2020. Hence, Asia Pacific is expected to majorly contribute to the growth of the global LNG bunkering market from 2020 onwards.

Due to these reasons, by capacity, the global LNG bunkering market will exhibit a robust 63.6% CAGR from 2014 to 2025.

Bomin Linde LNG GmbH & Co. KG, Korea Gas Corporation, Skangass AS, GDF SUEZ S.A., Gasnor AS, and Harvey Gulf International Marine LLC are the major companies that operate in the global LNG bunkering market.

Global LNG Bunkering Market by End User

Container Vessels
Tankers Vessels
Bulk & General Cargo Vessels
Ferries & OSV

Global LNG Bunkering Market by Regional

North America
Europe
Asia Pacific
Rest of the World (RoW)

This report gives you access to decisive data such as:

Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for the coming years

Key highlights

Overview of key market forces propelling and restraining market growth
Up-to-date analyses of market trends and technological improvements
Pin-point analyses of market competition dynamics to offer you a competitive edge
An analysis of strategies of major competitors
An array of graphics and SWOT analysis of major industry segments
Detailed analyses of industry trends
A well-defined technological growth map with an impact-analysis
A clear understanding of the competitive landscape and key product segments

Else Place an Enquiry or Ask Question to Our Researcher @ https://www.mrrse.com/enquiry/684

About Market Research Reports Search Engine (MRRSE)

Market Research Reports Search Engine (MRRSE) is an industry-leading database of Oil and Gas Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

Contact Us

State Tower
90, State Street
Suite 700
Albany, NY - 12207
United States Telephone: +1-518-730-0559
Email: sales@mrrse.com

This release was published on openPR.