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LNG Bunkering Market SWOT Analysis, Growth Factors, Size, Share and Trends Forecast to 2023
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The Emission Control Areas (ECAs) are the sea areas, where stringent regulations are framed to control the sulfur limits. Since May 2005 to June 2010, the sulfur emission limit was 15,000 ppm in ECAs, which was reduced to 10,000 ppm during July 2010 to December 2014. The limit was further reduced to 1,000 ppm in January 2015, which is again responsible for propelling the growth of the global LNG bunkering market.
Moreover, as of 2011, ECAs comprised the North Sea, Baltic Sea, North American ECA and US Caribbean ECA. The proposal for the expansion of ECA towards Japan, Southeast Asia, and the Mediterranean; and the massive unexplored Asia-Pacific market are creating ample opportunities for the growth of the global LNG bunkering market during the forecast period.
Geographically, Europe leads the global LNG bunkering market, owing to the initial adoption of LNG bunkering and initial expansion of ECAs in the region. In addition, the European countries are framing stringent environmental regulations for reducing airborne pollutions, which is propelling the growth of the LNG market in the region.
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The key players operating in the global LNG bunkering market are ENGIE (formerly known as GDF SUEZ), JSC Gazprom Neft, Royal Dutch Shell PLC, Bomin Linde LNG GmbH & Co. KG, Skangas, Harvey Gulf International Marine LLC., Korea Gas Technology Corporation, and Gasnor AS.
Global LNG Bunkering Market Segmentation
By Vessel Type
Tanker Vessels
Container Vessels
Bulk and Cargo Vessels
Ferries and Offshore Support Vessels
By Geography
North America
Europe
Asia-Pacific
Rest of the World
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