LNG Bunkering Global Market Insights: Growth Drivers, Size & Forecasts to 2029

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What Is the Forecasted Market Growth Rate of the LNG Bunkering Industry?
The growth in the LNG bunkering market has been substantial in the past few years. The market, currently valued at $1.56 billion in 2024, is projected to rise to $2.33 billion in 2025, representing a compound annual growth rate (CAGR) of 49.5%. Factors contributing to its historic growth include heightened gas exploration, expansion in maritime trade activities, robust economic growth in developing markets and increased import and export activities.

How Will the LNG Bunkering Market Size Evolve From 2025 to 2029?
Acceleration in the size of the lng bunkering market is anticipated in the upcoming years, with projections suggesting a value of $10.78 billion by 2029, supported by a compound annual growth rate (CAGR) of 46.6%. The anticipated growth in this period is driven by factors such as the surge in the quantity of vessels and ships, a rise in the demand for LNG fuel, and the escalating requirements for marine decarbonization. Pivotal trends in this period are likely to include the emergence of ship-to-containership LNG bunkering operations, strategic alliances, advancements in technology, product innovation, LNG bunkering for pure car and truck carriers (PCTCs), the innovation or utilization of eco-friendly LNG bunkering vessels, and a heightened focus on LNG bunkering that harnesses artificial intelligence.

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What Are the Main Growth Drivers in the LNG Bunkering Market Today?
The growth of the LNG bunkering market is anticipated to be propelled by the rising number of vessels and ships. A vessel, in this context, refers to any object capable of floating and being directed or driven, either autonomously or through external forces. LNG bunkering vessels serve the function of ship-to-ship bunkering, thereby promoting the enhanced consumption of LNG as a maritime fuel. For instance, according to a report released by BIMCO, a Denmark-based NGO, in February 2023, a surge of 4.0% was witnessed in the container fleet in 2022, and it's projected to rise by 6.3% in 2023 and 8.1% in 2024. Due to the effects of congestion and sailing speed on fleet productivity, supply is forecasted to rise by 11.3% in 2023 and 3.1% in 2024. Thus, the escalating number of vessels and ships is expected to catalyze the expansion of the LNG bunkering market in the forthcoming years.

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Which LNG Bunkering Market Segment Is Expected to Lead Through 2029?
The lng bunkering market covered in this report is segmented -

1) By Type: Ship To Ship, Terminal To Ship, Truck To Ship
2) By End-User: Defense Vessels, Yachts, Cruise Ships, Ferries And OSVs, Bulk And General Cargo Fleets, Other End-Users

Subsegments:
1) By Ship To Ship: Bunker Barges, LNG-Fueled Vessels
2) By Terminal To Ship: Shore-to-Ship Transfer Systems, Fixed Terminal Facilities
3) By Truck To Ship: Mobile Bunkering Units, LNG Transport Trucks

Which Market Trends Are Expected to Dominate LNG Bunkering Industry Growth?
The advancement and introduction of new techniques is a leading trend that is making waves in the LNG bunkering market. Major players in this sector are concentrating on the execution of innovative methods to maintain their ranking in the market, such as the bunkering of LNG from one ship to another. For example, CMA CGM, a shipping and logistics company based in France, along with TotalEnergies, an integrated energy and petroleum company also based in France, initiated the first ship-to-containership LNG bunkering in Marseilles in January 2022. During this operation, CMA CGM BALI, a 15,000 TEU LNG-fueled containership on the MEX 1 route linking Asia and South Europe, was replenished with approximately 6,000m3 of LNG from TotalEnergies' Gas Vitality. This is the first LNG bunker vessel to be based in France, and the refueling took place via a ship-to-ship transfer while docked at the Eurofos container terminal, even as the containership went on with its cargo operations.

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Which Companies Hold the Largest Market Share in the LNG Bunkering Sector?
Major companies operating in the LNG bunkering market include World Fuel Services, Crowley Maritime Corporation, SHV Energy, Engie SA, Gaz-System, Petrochina, ENN Energy Holdings Limited, Sinopec, Guanghui Energy Company Limited, Woodside Energy, Santos Ltd, Nauticor GmbH & Co. KG, Engas, Edison S.p.A, LNG Croatio LLC, Klaipedos Nafta AB, Blue Grid Gas & Power, Polskie LNG S.A, Eagle LNG Partners, Pivotal LNG Inc, FortisBC, NorthStar Holdco Energy LLC, Conrad Shipyards LLC, TOTO Maritime, Petrobras, Golar Power, YPF, Qatar Petroleum, ADNOC LNG, RasGas Company Limited, The Spanish Egyptian Gas Company, Damietta LNG Co, Petroliam Nasional Berhad, Sonatrach

Where Is the LNG Bunkering Market Experiencing the Highest Growth?
Europe was the largest region in the LNG bunkering market in 2024. The regions covered in the LNG bunkering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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