LNG Bunkering Market Size Global Industry Analysis, Statistics & Forecasts to 2024
Category: #world  By Partha Ray  Date: 2019-01-28
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LNG Bunkering Market Size Global Industry Analysis, Statistics & Forecasts to 2024

A recent report compiled by Market Study Report, LLC, on LNG Bunkering market offers a succinct analysis of the industry size, regional landscape and the revenue forecast pertaining to this vertical. The report further highlights the primary challenges and latest growth strategies embraced by key players that constitute the dynamic competitive spectrum of this business domain.  

Rising environmental concerns along with government initiatives towards adoption of natural gas as ship fuel will augment the LNG bunkering market. The EU introduced Climate and Energy Package 2020, with an aim to achieve 20% reduction in GHG emissions. In 2014, Trans-European Transport Network (TEN-T) announced funding of USD 138 million towards the development of seven bunkering stations across Western Europe.

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LNG Bunkering Market size is set to exceed USD 12 billion by 2024. Growing demand for cleaner fuel coupled with strict emission regulations to reduce the airborne emissions predominantly in North America and Europe will stimulate LNG bunkering market. In 2015, International Maritime Organization (IMO) introduced Tier III norms to curb NOx emissions from marine vessels among Emission Control Areas (ECAs) under maritime boundaries.

U.S. LNG bunkering market is predicted to exceed 3,000 kilotons by 2024 owing to the advent of shale gas. Increasing liquefaction plants has spurred the production of liquefied natural gas in the U.S. enabling its adoption as marine fuel. Strict government norms against emissions will further complement the business landscape. In 2015, the EPA implemented the MARPOL Annex VI norms with an aim to limit NOx in marine fuel oil to 0.5% from current levels.

Notable participants in LNG bunkering market include 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

Container vessel is set to expand by over 40% through to 2024. Germany holds the largest container base in Europe with over 170 new builds container vessels orderbook. High speed transfer rate, location flexibility and ability to transfer large volume of gas will drive the ship-to-ship LNG bunkering market. Standard operation accounts for a transfer rate of 1,100 cu. m/ hr.

Increasing investment towards development of infrastructure along with government initiatives to encourage the natural gas adoption will positively impact Singapore LNG bunkering market. In 2017, Ministry of Port Authority of Singapore announced the funding of USD 1.45 million for six vessels under pilot programme.

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Abundant availability of LNG along with measures to reduce carbon footprints will stimulate Qatar LNG bunkering market. Qatar will be the prime source for flexible liquefied natural gas supply with the capacity of 77.8 mtpa. In 2016, Qatargas, Shell and Maersk group signed a Memorandum of Understanding for developing LNG bunkering industry in Middle East.

Table of Content:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. LNG Bunkering Industry Insights

Chapter 4. LNG Bunkering Market, By Product

Chapter 5. LNG Bunkering Market, By End-Use

Chapter 6. LNG Bunkering Market, By Region

Chapter 7. Company Profiles

For More Details on this Report At: https://www.marketstudyreport.com/reports/lng-bunkering-market

Related Report:

United States LNG Bunkering Market Report 2018

United States LNG Bunkering market competition by top manufacturers/players, with LNG Bunkering sales volume, price, revenue (Million USD) and market share for each manufacturer/player; the top players including Skangas, Shell (Gasnor), Statoil, Barents Naturgass, Engie, Bomin and Linde, Eni Norge, Harvey Gulf, Polskie LNG, Korea Gas Corp, Gaz Metro.

https://www.marketstudyreport.com/reports/united-states-lng-bunkering-market-report-2018/?utm_source=RR-PSR

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About Author

Partha Ray

Email: partha.r@news.marketsizeforecasters.com   

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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