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 crucial role in facilitating the movement of goods and people worldwide. Maritime transport, a significant contributor to global trade and economic growth, relies heavily on the consumption of fuel for powering ships. This fuel consumption results in the emission of greenhouse gases (GHG), primarily carbon dioxide (CO2), from the combustion of petroleum-based products such as marine fuel oil. With the increasing demand for maritime transportation, there is a corresponding rise in fuel consumption and subsequent GHG emissions. The Liquefied Natural Gas (LNG) bunkering market represents a promising solution to mitigate these emissions, offering a cleaner and more sustainable alternative to traditional marine fuels. 

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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

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

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Research Analysis Overview

The LNG bunkering market involves the supply of Liquefied Natural Gas (LNG) to ships through cryogenic pumping. Key considerations include vapor pressure control, adherence to LNG quality specifications, bunker fuel pricing, and environmental regulations. Safety management systems, training and certification, bunkering scheduling, fleet management, fuel consumption data, and maintenance procedures are crucial for efficient operations. Infrastructure investment, port congestion, LNG availability, bunkering time, operational costs, and economic viability are significant factors influencing market growth. Environmental benefits, fuel switching strategies, LNG demand projections, bunker delivery methods, and maritime fuel standards also play a role in shaping the market landscape.

Market Research Overview

The LNG bunkering market is a significant segment of the larger oil and gas storage and transportation industry. Key components of LNG bunkering include cryogenic storage tanks, regasification processes, and vaporization systems. The global oil and gas storage and transportation market, which encompasses businesses involved in the transportation and/or storage of gas, oil, and refined products, is a crucial part of the oil and gas value chain. According to Technavio, market growth is influenced by escalating energy demand, dwindling fossil fuel reserves, volatile fuel prices, and environmental concerns. These factors necessitate the expansion of LNG bunkering infrastructure to meet the world's increasing energy needs while reducing carbon emissions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/