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LNG Bunkering Market Growth Accelerated by Increased LNG Usage in Shipping Industry

Niranjan Mardakar

LNG Bunkering Market Growth Accelerated by Increased LNG Usage in Shipping Industry

Liquefied natural gas (LNG) bunkering involves the refueling of ship with LNG as an alternative marine fuel. LNG provides advantages such as lower emission of sulfur and particulate matter along with reduced greenhouse gas emission relative to conventional heavy fuel oil or diesel. With strict emission norms issued by International Maritime Organization to reduce the environmental impact of shipping, LNG bunkering is gaining traction. The global LNG Bunkering Market is estimated to be valued at US$ 1084.62 Mn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving the growth of LNG bunkering market is the increased usage of LNG as a marine fuel by shipping companies and vessel owners. Oil majors such as Shell, BP, and Total are investing heavily in developing LNG bunkering infrastructure along major shipping routes. With stringent emission regulations and the need to reduce carbon footprint of shipping industry, ship owners are retrofitting their vessels to use LNG. Major companies operating tankers, bulk carriers and container vessels have placed orders to include LNG propulsion system in new builds as well as for converting some of their existing fleet. This is expected to boost the demand for LNG bunkering over the forecast period.

Segment Analysis

The Global LNG Bunkering Market Size is segmented by supply vessel, end-user and region. Based on supply vessel, the liquefied natural gas bunkering vessels segment accounted for highest market share in 2024. These vessels are specifically designed for delivering LNG to the ships and offer safe and efficient bunkering operations. Due to increasing demand from marine vessels, the segment is expected to continue its dominance over the forecast period.

Key Takeaways

The global LNG bunkering market is expected to witness high growth.

The Asia Pacific region accounted for highest share in 2024. Countries such as China, Japan and South Korea have emerged as major exporters and importers of LNG via sea. The increasing number of LNG powered vessels and adoption of stringent emission norms are promoting the growth of bunkering infrastructure in the region. This is augmenting the demand for LNG bunkering in Asia Pacific.

Key players operating in the LNG bunkering market are Medtronic, Becton Dickinson and Company (BD), Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Koninklijke Philips N.V., Opto Circuits (India) Limited, Terumo Corporation, Surmodics, Inc., and Biotronik. Medtronic dominates the market due to its diverse product portfolio and global presence. BD and Boston Scientific are other prominent players due to their strong focus on research and development of advanced LNG bunkering solutions.

Get More Insights On This Topic: https://www.newsstatix.com/lng-bunkering-market-size-share-analysis-2023-2030/

Niranjan Mardakar

LNG Bunkering Market Size, Status, Growth | Industry Analysis Report 2020-2028

Ellma Gupta 2022-04-01

The LNG Bunkering market 2022 research report gives emerging industry data, global segments and regional outlook. The major players in the LNG Bunkering market include GalpEnergia SGPS SA, Gazprom PJSC, Gaz Metro, GDF SUEZ S. Get more information on "Global LNG Bunkering Market Research Report" by requesting FREE Sample Copy at https://www. By End-User· Container Fleet· Tanker Fleet· Cargo Fleet· Ferries· Inland Vessels· OthersRegional AnalysisThis section covers regional segmentation which accentuates on current and future demand for LNG Bunkering market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Purchase Complete Global LNG Bunkering Market Research Report at https://www.

Rising Demand for LNG Bunkering Propels Market Growth

gauri kanale 2023-08-23

A) Market Overview: The global LNG Bunkering Market is estimated to be valued at US$592. B) Market Key Trends: The key trend shaping the LNG bunkering market Growth is the growing demand for cleaner fuel alternatives in the shipping industry. As a result, the demand for LNG bunkering services has been steadily increasing, leading to market growth. Competitive Rivalry: The competitive rivalry in the LNG bunkering market is increasing as more players enter the market. - The Asia-Pacific region is expected to be the fastest-growing and dominating region in the LNG bunkering market.

Global LNG Bunkering Market Top Players Data by Forecast to 2028

MariaR.Howard 2022-05-13

The key growth element in the LNG bunkering market is likely to be stricter environmental regulations regarding pollution generated by ship transportation. During the projected period of 2022-2027, the LNG bunkering market is expected to develop at a CAGR of more than 59. The important leaders operating in the LNG Bunkering Market are well listed in the report. Global demand for the LNG bunkering market was valued at approximately USD 397. Therefore, our market report is a complete assessment of the different landscapes of the LNG Bunkering Market, including sales volume, market share, market value, and supply chain analysis.

LNG Bunkering Market Size and Analysis, Trends, Recent Developments, and Forecast Till 2030

Recent Market Reports 2022-12-22

Segmentation of Market: LNG BunkeringAs per MRFR’s analysis, the global LNG bunkering has been studied among the segments of vessel type and product type. com/sample_request/7741Report Attribute/MetricDetailsCAGR 45. 13% CAGR (2022-2030) Base Year 2021 Forecast Period 2022 to 2030 Historical Data 2019 & 2020 Forecast Units Value (USD Million) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered Vessel Type, Product Type Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)Regional OutlookLNG bunkering market size in the U. Norway LNG bunkering market leads the European region with over 18000 bunkering operations. Top Market ContendersThe top market players of the global LNG bunkering market are listed as Bomin Linde LNG GmbH & Co.

The LNG Bunkering Market Is Estimated To Witness High Growth Owing To Increasing Adoption Of LNG As A Marine Fuel

Poonam 2023-11-14

The LNG bunkering market is estimated to be valued at US$ 1084. have invested heavily in developing LNG bunkering facilities to supply LNG as marine fuel. Key Takeaways The global LNG Bunkering Market Share is expected to witness high growth, exhibiting CAGR of 11. Many ports in Germany, Netherlands and Norway are steadily building LNG bunkering infrastructure to cater growing LNG fueled fleet. Key players are investing in developing networks of LNG bunkering vessels and terminals across major ports along main trading routes.

LNG Bunkering Market Size, Unlocking Growth, Share Analysis To 2032

harishtbrc 2023-09-19

The LNG Bunkering Global Market Report 2023, provides comprehensive information on the LNG bunkering market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. Learn More On The LNG Bunkering Market’s Growth:https://www. The market size of the LNG bunkering market size is expected to grow to $5. The table of contents in TBRC’s LNG bunkering market report includes:1. Contact Us: The Business Research Company Europe: +44 207 1930 708Asia: +91 8897263534Americas: +1 315 623 0293Email: info@tbrc.

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