LNG Bunkering Market Revenue & Growth Analysis By Top Manufacturers - Royal Dutch Shell plc., Engie, Bomin Linde LNG GmbH & Co. KG, Skangass AS., Gasnor AS, Korea Gas Corporation

The rise in the number of peak shaving plants will lead to a surge in the demand for LNG, thus creating a favorable roadmap for LNG bunkering market. The high demand for LNG bunkers can be attributed to the abilities of LNG to considerably reduce carbon emissions, methane slip, and air pollution. LNG bunkers find massive applications in offshore support vessels, container vessels, ferries, cruise-ships, and bulk carriers, on the grounds of which it can be safely assumed that the growth of LNG bunkering market will create lucrative avenues for major corporations to explore the business.
Global Market Insights, Inc., states that LNG bunkering industry revenue, which was estimated at more than USD 800 million in 2016, is projected to surpass USD 12 billion by 2024.

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As per the current EU guidelines, every member country is required to have at least one LNG bunkering port. Statistics claim that nearly 139 ports in Europe are expected to be LNG bunkered by 2025. Improved LNG bunkering infrastructure facilities across Rotterdam, Zeebrugge, and Stockholm ports in the Northwestern part of the Europe are expected to boost LNG bunkering market trends across the region.
Exceptional LNG bunkering infrastructural growth across the Fourchon and Jacksonville ports on the U.S. Gulf & East coast along with the development of various ports with LNG bunkering facility across the southeast, great lakes, Pacific Northwest, and Gulf of Mexico in the North American region, will have a major impact on LNG bunkering industry size in the North American region.

LNG Bunkering Market, Growth drivers
• Positive outlook toward shipping industry
• Increasing seaborne trade
• Growth initiatives and incentive policies
• Strict government norms against sulfur and nitrous oxide emissions

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China LNG bunkering market growth map is expected to experience a massive upward surge with the expansion of LNG bunkering infrastructure. South Korea industry is also anticipated to witness a similar growth trend with LNG bunkering facilities made available in Incheon port. Countries such as Japan and Australia are also expected to build LNG bunkering ports across their coasts, thereby further fueling the industry revenue across the region.
Escalating LNG bunkering industry expansion in Qatar can be credited to ample supply of LNG across the region along with growing strict government legislations to minimize the greenhouse effects.

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Mitsui & Company has participated in various LNG bunkering pilot programs and promoted comprehensive & in-depth LNG bunkering research. The firm has also invested in many LNG projects and is involved in a wide range of value chain activities, thereby providing a boost to LNG bunkering activities. By joining SEA/LNG, the firm expects to contribute towards green energy as a part of its corporate social responsibility initiative along with improving its brand image across LNG bunkering industry.
Stringent guidelines regarding fuel emissions across marine transportation have encouraged NOVATEK to penetrate LNG bunkering market. Today, the growing demand for cleaner fuels with the lingering threat of global warming form a major part of the discussions on global environmental concerns. This has driven firms such as NOVATEK to opt for LNG as a fuel for its marine fleet, thereby encouraging the infrastructural growth and impacting LNG bunkering industry.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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