LNG Bunkering Market Size, Share, Trends, Growth, Outlook, Industry Analysis And Global Forecast 2023-2032

As per The Business Research Company's LNG Bunkering Opportunities And Strategies Market Report 2023, the global LNG bunkering market size is expected to grow from $0.70 billion in 2022 to $1.05 billion in 2023 at a compound annual growth rate (CAGR) of 50.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the LNG bunkering market size is expected to grow to $5.13 billion in 2027 at a CAGR of 48.7%.

Stringent environmental regulation toward pollution caused by ship transportation is driving the growth of the LNG bunkering market. Ship transportation refers to the movement of goods and/or passengers by seagoing vessels on voyages undertaken entirely or partially at sea. Environmental regulation is increasing as ship transportation results in the use of more heavy fuel oil, one of the dirtiest fossil fuels, containing hazardous levels of sulfur and heavy metals, among other things causing pollution will drive a significant preference for LNG bunkering going forward. For instance, in January 2020, International Maritime Organization (IMO) announced a new limit on the sulfur content in the fuel oil used on board ships, the rule, "IMO 2020, " limits the sulfur content of fuel oil used on board ships functioning outside designated emission control areas to 0.50% m/m (mass by mass), a major reduction from the previous limit of 3.5%. The limits were already stricter (0.10%) within specifically designated emission control areas. Following an amendment to Annex VI of the International Convention for the Prevention of Pollution from Ships (MARPOL), this new limit became mandatory. Therefore, the stringent environmental regulation toward pollution caused by ship transportation is expected to propel the growth of the LNG bunkering market over the coming years.

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Innovation is a key trend gaining popularity in the LNG bunkering market. Major market players are focusing on launching innovative operations to sustain their position in the LNG bunkering market such as ship-to-containership liquefied natural gas (LNG) bunkering. For instance, in January 2022, CMA CGM, France-based shipping, and logistics firm, and TotalEnergies, France-based integrated energy, and petroleum company launched Marseilles' first ship-to-containership liquefied natural gas (LNG) bunkering operation. CMA CGM BALI, a 15, 000 TEU LNG-powered containership on the MEX 1 service connecting Asia and South Europe, was refueled with around 6, 000m3 of LNG by TotalEnergies' Gas Vitality, the first LNG bunker vessel based in France, via a ship-to-ship transfer alongside the Eurofos container terminal, while the containership carried out cargo operations simultaneously.

LNG Bunkering Market Segmentation:
The LNG bunkering market is segmented by type, by end-user and by application.

By Type -
a) Ship To Ship
b) Terminal To Ship
c) Truck To Ship

By End-User -
a) Defense Vessels
b) Yachts
c) Cruise Ships
d) Ferries And OSVs (Offshore Service Vessels)
e) Bulk And General Cargo Fleets
f) Other End-Users

By Application -
a) Container Fleet
b) Tanker Fleet
c) Cargo Fleet
d) Ferries
e) Inland Vessels

Major players in the LNG bunkering market include Harvey Gulf International Marine LLC, Eagle LNG Partners LLC, SEA-LNG Limited, Korea Gas Corporation, Nauticor GmbH & Co KG (Bomin Linde LNG GmbH & Co KG).

The regions covered in the global LNG bunkering market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global LNG Bunkering Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

LNG Bunkering Market Report Table Of Content
1. Executive Summary
2. LNG Bunkering Market Characteristics
3. LNG Bunkering Market Trends And Strategies
4. LNG Bunkering Market - Macro Economic Scenario
5. LNG Bunkering Market Size And Growth
……
26. Africa LNG Bunkering Market
27. LNG Bunkering Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The LNG Bunkering Market
29. LNG Bunkering Market Future Outlook and Potential Analysis
30. Appendix

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