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Global LNG as A Bunker Fuel Industry Market Dynamics & Strategic Insights 2021-2030
A bunker is a process of transferring fuel to a container or a facility in the form of LNG or conventional marine fuels. The density of LNG is about half of the heavy fuel oil. This translates to about 1.8 times LNG demanding to be bunkered to get the same range in comparison to bunkering heavy fuel oil. LNG Bunkering is the practice of provides liquefied natural gas fuel to a ship for its consumption. The advantage of LNG as a fuel is the vast reduction in pollutants caused by the more traditional method of fuelling ships such as marine gas oil (MGO), heavy fuel oil, and marine diesel fuel (MDO).
Global LNG as A Bunker Fuel Market іѕ ѕеgmеntеd on the bаѕіѕ оf Product (Truck-to-Ship, Port-to-Ship, Ship-to-Ship, Portable Tanks), By Navigation Area (Inland Waterways, and Ocean & Sea) By Application(LNG Ships, and Others), and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global LNG as A Bunker Fuel Market wаѕ vаluеd аt UЅD 680.7 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 8.7% frоm 2021 tо 2030.
The report on Global LNG as A Bunker Fuel Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global LNG as A Bunker Fuel Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global LNG as A Bunker Fuel Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global LNG as A Bunker Fuel Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global LNG as A Bunker Fuel Market.
Market Dynamics:
Growing demand for LNG fuel due to low prices of LNG fuel than other conventional fuel is a factor projected to drive the growth of global LNG as a bunker fuel market growth over the forecast period. Also, the increasing number of ships or vessels that are using LNG due to the need for cleaner fuels coupled with strict government regulations to decrease chemical emissions is anticipated to drive the growth of the global market. Moreover, LNG has easy to redeploy, high combustion efficiency, lower volume than natural gas, and relatively cost-effective transportation is another factor expected to fuel the growth of the global market. Furthermore, major economies of the world are trying to lower oil dependency is a factor that is expected to boost the growth of the global market.
However, LNG fuel is low-cost, the cost and time required to retrofit or new-build a ship with a dedicated LNG propulsion system are relatively high. Also, the lack of a constant regulatory framework for safety and security protocols poses an additional problem that is a factor expected to limit the market growth over the forecast period.
Segmental Analysis:
Among the product segments, the ship-to-ship segment is expected to account for the highest growth in the global LNG as a bunker fuel market, due to its advantages such as the high capacity of 700-7500 tons and quick transfer operations. Furthermore, ship-to-ship operations are possible for all types of vessels.
Among the navigation area, the ocean & sea segment is projected to contribute a major revenue share and expected to maintain its dominance during the forecast period. This is attributed to maritime transport is vital to the global economy and the most cost-effective method to transport raw materials in bulk.
Among all the application segments, the LNG ships segment is expected to register the highest CAGR in the global market, due to the rise of several alternatives for ship owners, one being switching to LNG fuel. LNG fueled ships produce zero sulfur oxide emissions along with the decline in carbon dioxide gas released, and these are primary factors helping the use of LNG as a fuel in marine transport.
Regional Analysis:
Europe LNG as a bunker fuel market is expected to dominate the global market, and it accounts for the largest market revenue share as compared to markets in other regions. The Europe market is expected to higher CAGR in terms of revenue over the forecast period, owing to the increasing demand among consumers in countries in the region. Asia Pacific market is expected to register significant growth in the global LNG as a bunker fuel market, owing to the presence of major manufacturers in countries in China, India, these regions. China is one of the major players in the LNG as a bunker fuel market, owing to low labor costs and abundance of labor workforce is a major consumer and utilizes a sizable volume of LNG as a bunker fuel.
Global LNG as A Bunker Fuel Market Segmentation:
Segmentation by Product:
• Truck-to-Ship
• Port-to-Ship
• Ship-to-Ship
• Portable Tanks
Segmentation by Navigation Area:
• Inland Waterways
• Ocean & Sea
Segmentation by Application:
• LNG Ships
• Others
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Playes:
Royal Dutch Shell plc.
Engie
Bomin Linde LNG GmbH & Co. KG
Skangass AS.
Gasnor AS
Korea Gas Corporation
Harvey Gulf International Marine LLC
Polskie LNG
Eagle LNG
ENN Energy
EVOL LNG
Fjord Line
Crowley Maritime
Prima LNG
Global LNG as A Bunker Fuel Market іѕ ѕеgmеntеd on the bаѕіѕ оf Product (Truck-to-Ship, Port-to-Ship, Ship-to-Ship, Portable Tanks), By Navigation Area (Inland Waterways, and Ocean & Sea) By Application(LNG Ships, and Others), and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global LNG as A Bunker Fuel Market wаѕ vаluеd аt UЅD 680.7 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 8.7% frоm 2021 tо 2030.
The report on Global LNG as A Bunker Fuel Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global LNG as A Bunker Fuel Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global LNG as A Bunker Fuel Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global LNG as A Bunker Fuel Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global LNG as A Bunker Fuel Market.
Market Dynamics:
Growing demand for LNG fuel due to low prices of LNG fuel than other conventional fuel is a factor projected to drive the growth of global LNG as a bunker fuel market growth over the forecast period. Also, the increasing number of ships or vessels that are using LNG due to the need for cleaner fuels coupled with strict government regulations to decrease chemical emissions is anticipated to drive the growth of the global market. Moreover, LNG has easy to redeploy, high combustion efficiency, lower volume than natural gas, and relatively cost-effective transportation is another factor expected to fuel the growth of the global market. Furthermore, major economies of the world are trying to lower oil dependency is a factor that is expected to boost the growth of the global market.
However, LNG fuel is low-cost, the cost and time required to retrofit or new-build a ship with a dedicated LNG propulsion system are relatively high. Also, the lack of a constant regulatory framework for safety and security protocols poses an additional problem that is a factor expected to limit the market growth over the forecast period.
Segmental Analysis:
Among the product segments, the ship-to-ship segment is expected to account for the highest growth in the global LNG as a bunker fuel market, due to its advantages such as the high capacity of 700-7500 tons and quick transfer operations. Furthermore, ship-to-ship operations are possible for all types of vessels.
Among the navigation area, the ocean & sea segment is projected to contribute a major revenue share and expected to maintain its dominance during the forecast period. This is attributed to maritime transport is vital to the global economy and the most cost-effective method to transport raw materials in bulk.
Among all the application segments, the LNG ships segment is expected to register the highest CAGR in the global market, due to the rise of several alternatives for ship owners, one being switching to LNG fuel. LNG fueled ships produce zero sulfur oxide emissions along with the decline in carbon dioxide gas released, and these are primary factors helping the use of LNG as a fuel in marine transport.
Regional Analysis:
Europe LNG as a bunker fuel market is expected to dominate the global market, and it accounts for the largest market revenue share as compared to markets in other regions. The Europe market is expected to higher CAGR in terms of revenue over the forecast period, owing to the increasing demand among consumers in countries in the region. Asia Pacific market is expected to register significant growth in the global LNG as a bunker fuel market, owing to the presence of major manufacturers in countries in China, India, these regions. China is one of the major players in the LNG as a bunker fuel market, owing to low labor costs and abundance of labor workforce is a major consumer and utilizes a sizable volume of LNG as a bunker fuel.
Global LNG as A Bunker Fuel Market Segmentation:
Segmentation by Product:
• Truck-to-Ship
• Port-to-Ship
• Ship-to-Ship
• Portable Tanks
Segmentation by Navigation Area:
• Inland Waterways
• Ocean & Sea
Segmentation by Application:
• LNG Ships
• Others
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Playes:
Royal Dutch Shell plc.
Engie
Bomin Linde LNG GmbH & Co. KG
Skangass AS.
Gasnor AS
Korea Gas Corporation
Harvey Gulf International Marine LLC
Polskie LNG
Eagle LNG
ENN Energy
EVOL LNG
Fjord Line
Crowley Maritime
Prima LNG
Scope:
| Report Data | Market |
| Forecast 2022 | XX million/billion (2022-2032) |
| CAGR 2022 - 2032 | % |
| Analysis Period | 2022 - 2032 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2032 |
| Segments Covered | By Type, By Application, And by Regions |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | . |
| Key Segments | By Type By Applications |
| Report Coverage | Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Frequently Asked Questions
What is the future market value of the ?
The current market value for is expected USD XX million/billion by 2022.
What is the CAGR of the Market?
The is to grow at a CAGR of 5.3% during the forecast by 2032.
What is the Market segment?
On the basis of type, the is segmented into Types.
Who are the key players operating in the ?
The major players operating in the are Company.
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