LNG Bunkering Market to witness widespread expansion during 2020 – 2028 according to new research report | Gazpromneft Marine Bunker LLC, Royal Dutch Shell PLC, Bomin Linde LNG GmbH & Co. KG, Skangass AS, Korea Gas Corporation, Harvey Gulf International

Global LNG Bunkering Market Projected to Grow due to Increasing Applications in Shipping Industry
LNG Bunkering provides liquefied natural gas to a ship for consumption. The key advantage of LNG as a fuel is the vast reduction in pollutant caused by the more traditional method of fuelling ships such as marine diesel fuel (MDO), heavy fuel oil, and marine gas oil (MGO). to cut Emissions caused through ship transportation regulatory bodies have implemented environmental regulatory regulations. These imposition of stringent regulations regarding sulphur content limits for marine bunker fuel is driving the construction of a LNG fuelling infrastructure and LNG Bunkering system design. The current stable price of LNG and reliable supply of natural gas as a resource are also key factors for LNG being an alternative to current fuels.

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Key Takeaways of the LNG Bunkering Market Study
1. By product type, this market is segmented into portable tanks, ship-to-ship, truck-to-ship, port-to-ship. The ship-to-ship segment is expected to rapidly grow due to ship-to-ship operations are feasible for all types of vessels. This operation can be done within less time due to its feasibility.
2. On the basis of end-user is categories into ferries, bulk & general cargo fleet, offshore support vessels, cruise-ships, tanker fleet, container fleet. The global LNG bunkering market is anticipated to boom in Europe because of Norway is considered as the biggest bunking center, as it offers more than 18,000 LNG bunk stations.
3. Also, this market is expected to grow rapidly in the Asia-Pacific region due to this region is considered as a manufacturing hub, due to this, manufacturing activities in this region have a high demand for energy.
4. By End user, Offshore Support Vessels (OSVs) segment accounted for over major market share. Increasing hydrocarbon exploration and production in offshore fields coupled with strict emissions regulation will fuel the industry growth. Rising investments toward FLNG projects including FPSO and FSRU will further complement the industry size.
5. Ship-to-ship LNG bunkering is projected to be the fastest growing segment over the forecast period due to quick transfer operations and high capacity of 700-7500 tons.
6. Europe was the largest contributor to the global market due to presence of largest bunkering hub Norway.

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Notable Development Trends to Open up New Horizons of Growth for LNG Bunkering Market

The leading companies in the market focus on product development as well as the acquisition in the market to enhance the market share in the global market during the forecast period.
1. Jul 29, 2020 - Japa launched the country’s first LNG bunkering vessel at the Sakaide Works of Kawasaki Heavy Industries. The 3,500-cu m capacity LNG bunkering vessel will be delivered at end-September to become the first in operation in Japan.
2. 01 June 2020 - FueLNG, a joint venture between Keppel Offshore & Marine Ltd (Keppel O&M) and Shell Eastern Petroleum (Pte) Ltd, announced the launch of Singapore’s first LNG bunkering vessel in Keppel Nantong Shipyard in China.

Major points covered in the report:
1. An overview of the market, including background and evolution
2. Macroeconomic factors affecting the LNG Bunkering market and its potential
3. LNG Bunkering Market dynamics, such as drivers, challenges, and trends
4. Detailed value chain analysis of the LNG Bunkering market
5. The cost structure of the products and segments covered in the study
6. In-depth pricing analysis, by key product segments, regions and by major market participants
7. Analysis of demand and supply, such as top manufacturing and consuming regions, overall trade scenario with imports/exports details
8. Analysis of the market structure, including a tier-wise categorization of key market participants
9. Competitive landscape of the LNG Bunkering market, including detailed profiles of the top players in this market

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Some of the major players in the LNG Bunkering market are Gazpromneft Marine Bunker LLC, Royal Dutch Shell PLC, Bomin Linde LNG GmbH & Co. KG, Skangass AS, Korea Gas Corporation, Harvey Gulf International Marine LLC, ENGIE, Polskie LNG SA, Eagle LNG Partners, and ENN Group.

Market Segmentation:
By Product Type:
• Portable Tanks
• Ship-to-ship
• Truck-to-ship
• Port-to-ship

By End User:
• Ferries
• Bulk & General Cargo Fleet
• Offshore Support Vessels
• Cruise-ships
• Tanker Fleet
• Container Fleet

By Region:
• North America
o By Country (US, Canada, Mexico)
o By Product Type
o By End User

• Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Product Type
o By End User

• Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Product Type
o By End User

• Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Product Type
o By End User

• Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Product Type
o By End User

• Rest of the World
o By Region (South America, Africa)
o By Product Type
o By End-User

Reasons To Buy This Report:
• Market size estimation of the global LNG bunkering market on a regional and global basis
• The unique research design for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

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This release was published on openPR.