Latest News- Liquefied Natural Gas (LNG) Bunkering Market: Tanker is expected to lead the Application segment during 2025-2029

The Liquefied Natural Gas (LNG) Bunkering Market is being driven by Increase in supply of LNG

The Liquefied Natural Gas (LNG) Bunkering Market is expected to grow at a CAGR of 21.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1592.6 million. The transportation sector, encompassing roadways, maritime, and airways, plays a pivotal role in facilitating global trade and economic growth. Thousands of vessels in maritime transport connect demand and supply centers worldwide, driving international and regional commerce, generating employment opportunities, and fostering prosperity. However, this sector's growth necessitates an increased consumption of fuels, primarily petroleum-based products, leading to substantial greenhouse gas (GHG) emissions, predominantly CO2, contributing to environmental concerns. The Liquefied Natural Gas (LNG) bunkering market emerges as a promising solution to mitigate these emissions and promote sustainable transportation. LNG, a cleaner alternative to traditional petroleum-based fuels, offers significant reductions in CO2 emissions, making it an attractive choice for the maritime industry. The LNG bunkering market's growth is expected to accelerate as stricter emissions regulations and the need for sustainable energy sources gain momentum. 

Get more information on Liquefied Natural Gas (LNG) Bunkering Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Tanker
  • Ferry and ro-ro
  • Container
  • Others
• End-user
  • Commercial
  • Defense
• Product Type
  • Ship-to-ship
  • Port-to-ship
  • Truck-to-ship
  • Portable tanks
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Norway
    • Denmark
  • APAC
    • China
    • Japan
    • Singapore
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in supply of LNG
• Growing marine logistics business
• Stringent government regulations pertaining to marine transport emissions

However, the market also witnesses some limitations, which are as follows:

• High capital requirements for using LNG as a marine fuel
• Fluctuation in oil and gas prices
• Infrastructural challenges in using LNG as a marine fuel

Benefits of Buying Global Liquefied Natural Gas (LNG) Bunkering Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Liquefied Natural Gas (LNG) Bunkering Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The LNG Bunkering Market encompasses various components including cryogenic transfer systems, LNG handling and transfer systems, LNG loading arms, vapor recovery units, LNG boilers, and engines. These systems facilitate the production, liquefaction, distribution, and usage of LNG in dual fuel engines and gas-to-liquid technology. LNG pricing models, contracts, and markets (spot and futures) influence demand and price volatility. Sustainability initiatives, such as carbon capture, LNG derived from biogas and biofuel, renewable energy, and green shipping, are driving the maritime transition towards LNG.

Market Research Overview

The global LNG storage and transportation market encompasses businesses involved in the movement and containment of LNG. This sector is a crucial component of the oil and gas value chain, known as the midstream sector. According to Technavio's market analysis, the market's size is determined by the consolidated revenues of LNG bunkering vessel and fueling station providers, LNG carrier and tanker manufacturers, and associated service suppliers. Key growth drivers for the LNG storage and transportation market include escalating energy demand, dwindling fossil fuel reserves, volatile fuel prices, and environmental concerns.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/