Press release
Global LNG Bunkering Market To Be Driven By Stringent Sulphur Regulations In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): 0.41 billion USD
Forecast CAGR (2021-2026): 43.96%
Forecast Market Size (2026): 3.65 billion USD
In the LNG bunkering sector, the bulk and cargo fleet category is expected to account for a large market share based on end user. The increased need for bulk and cargo ships for the transfer of goods and key resources can be linked to this development.
LPG bunkering alludes to the method involved with moving energizes to ships in the structures of liquified natural gas. It is well known and non dirtying strategy for transmission when contrasted with regular type of fuels, for example, weighty fuel oil and marine diesel oils among others.
Industry Definition and Major Segments
LNG bunkering alludes to the method involved with moving fuel to ships as liquified gaseous petrol. It is a well known and non-contaminating strategy for transmission when contrasted with the regular type of fills, for example, weighty fuel oil and marine diesel oil, among others. This interaction can be done in various ways, for example, from truck to send, boat to transport, or shore to deliver. The natural guidelines relating to marine transportation are prompting the expanded reception of LNG bunkering.
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On the basis of end user, the market is divided into:
Tanker Fleet
Container Fleet
Bulk and Cargo Fleet
Ferries and OSV
Others
On the Basis of region, the market can be divided into:
North America
Europe
The Asia Pacific
Latin America
The Middle East and Africa
Market Trends
The tough guidelines administering the utilization of sulphur content in fuel oil for ships are driving the market interest in LNG bunkering. As indicated by the new statutes named IMO2020 set forth by the International Maritime Organization (IMO), the sulphur content cutoff in marine powers has been put at 0.5%. These orders were concocted in an undertaking to control the rising issues of air and water contamination.
As an outcome, LNG bunkering is anticipated to attract a huge amount of interest before very long, as it offers the least carbon impression with up to 20% lower CO2 outflows, 90% lower nitrogen dioxide, and a diminished measure of sulphur particulates. Besides, the expanded interests in the advancement of the maritime transportation area are likewise assessed to help the business development. These elements are expected to add to the market development in the figure time frame.
Key Market Players
The major players in the market are Royal Dutch Shell Plc, Skangas A, Korea Gas Corporation, Harvey Gulf International Marine LLC, Engie SA and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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