Press release
Navigating Green Waters: The Evolving Landscape of LNG Bunkering (2020-2027)
LNG bunkering, a pivotal aspect of the maritime industry's transition towards cleaner energy, has witnessed significant growth and transformation from 2020 to 2027. As the demand for sustainable fuel solutions rises, LNG bunkering emerges as a beacon of environmentally friendly maritime practices. This process involves the transfer of liquefied natural gas (LNG) to vessels for use as fuel, offering a cleaner alternative to traditional marine fuels with lower emissions of pollutants. The market's evolution during this period is marked by increased infrastructure development, technological innovations, and a rising global commitment to reducing the carbon footprint of the shipping industry. LNG bunkering is not merely a response to regulatory changes but a strategic move towards fostering a greener, more sustainable future for maritime operations worldwide, as the industry continues to navigate towards cleaner, more efficient energy solutions on the open seas.The global LNG bunkering market size was valued at $0.38 billion in 2019 and is projected to reach $5.14 billion by 2027, growing at a CAGR of 45.2% from 2020 to 2027.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/2213
LNG is an attractive alternative fuel for seagoing vessels and inland vessels, as liquefied natural gas emits fewer polluting substances. LNG is a potential substitute according to IMO emission prerequisites, owing to its negligible sulfur content and low production of NOx contrary to fuel oil and marine diesel oil. LNG is clean burning fuel coupled with financial points of interest on a calorific value basis among other fuels.
The rise in marine-borne trade has increased the demand for LNG as bunker fuel and LNG bunkering services. Furthermore, the increase in gas exploration and production activities in emerging gas regions drives the growth of the LNG bunkering market as many bunker fuel suppliers changed their focus of operation to these offshore resource sites. In addition, the IMO regulation on sulfur content in marine fuel has forced the shipping industry to focus on new alternatives such as LNG, which is less harmful to the marine environment, which in turn is anticipated to fuel the market growth in the upcoming years. Moreover, growth in opportunities for market players to expand the business of LNG bunkering in emerging economies such as India, Japan, South Korea, and China is expected to provide lucrative opportunities for the growth of the global LNG bunkering market, due to the exploration of untapped hydrocarbon reserves in these oil & gas emerging countries.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/2213
Depending on the product type, the ship-to-ship segment held the highest market share of around 60.5% in 2019 and is expected to maintain its dominance during the forecast period. This is due to the rise in the number of ships using LNG due to the need for cleaner fuel in compliance with stringent government regulations to minimize air pollution and preserve sustainability. In addition, due to advantages such as fast transfer operations and high capacity of 700-7,500 tons, the ship-to-ship LNG bunkering segment is expected to witness substantial revenue growth during the forecast period.
On the basis of application, the cargo fleet segment holds the largest market share, in terms of revenue, and is expected to grow at a CAGR of 45.4%. This is owing to an increase in demand for cargo transportation through ships and a rise in trade-related agreements. In addition, the rise in a number of manufacturing units and factories in the region such as Asia-Pacific and LAMEA is anticipated to drive the growth of the LNG bunkering market for cargo shipping.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/lng-bunkering-market
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The LNG Bunkering industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐๐ ๐๐ฎ๐ง๐ค๐๐ซ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
POLSKIE LNG S.A.
BROADVIEW ENERGY SOLUTIONS B.V.
ROYAL DUTCH SHELL PLC
KOREA GAS CORPORATION
SHV ENERGY
TOTAL SE
HARVEY GULF INTERNATIONAL MARINE
GASUM OY
PETROLIAM NASIONAL BERHAD (PETRONAS)
KLAW LNG
EXXON MOBIL CORPORATION
CROWLEY MARITIME CORPORATION
On the basis of the region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the dominant share in 2019 and is anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as the presence of a huge consumer base and an increase in maritime trade activities in the region. Moreover, the rise in LNG bunkering infrastructure development activities in the European region is anticipated to contribute toward the growth of the LNG bunkering market in Europe.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/2213
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
- In 2019, the ship-to-ship segment accounted for around 60.5% of the share in the global LNG bunkering market and is expected to maintain its dominance throughout the forecast period.
- In 2019, the cargo fleet segment accounted for 24.8% market share in the year 2019 and is anticipated to grow at a rate of 25.1% in terms of revenue, increasing its share in the global LNG bunkering market.
- The container fleet is the fastest-growing application in the Asia-Pacific LNG bunkering market, expected to grow at a CAGR of 46.2% during 2020-2027.
- Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 45.9%, throughout the forecast period.
- In 2019, Europe dominated the global LNG bunkering market with more than 39.4% of the share, in terms of revenue.
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
๐. ๐๐ซ๐ ๐๐ง๐ข๐ ๐๐ข๐จ๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/news-release/2022/11/21/2560018/0/en/Global-Organic-Biogas-Market-to-Reach-19-7-Billion-by-2031-Allied-Market-Research.html
๐. ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฌ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/news-release/2022/09/05/2509899/0/en/Industrial-Gases-Market-to-Reach-162-8-Billion-by-2031-Allied-Market-Research.html
๐. ๐๐๐ฌ ๐๐ฎ๐ซ๐๐ข๐ง๐ ๐๐๐ซ๐ฏ๐ข๐๐ ๐๐๐ซ๐ค๐๐ญ - https://www.prnewswire.com/news-releases/gas-turbine-service-market-to-reach-32-1-bn-globally-by-2031-at-5-1-cagr-allied-market-research-301608268.html
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
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