LNG Bunkering Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024
The report on global LNG bunkering market provides qualitative and quantitative analysis for the period of 2016 to 2024. The report predicts the global lng bunkering market to grow with a CAGR of 73.6% over the forecast period of 2018-2024. The study on lng bunkering market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.
Stringent government laws to reduce airborne marine emissions that includes pollutants such as sulfur and nitrous oxide along with shifting trends towards clean energy are the major factors driving the growth of the LNG bunkering market. In addition, LNG fuel has low sulfur content and needs comparatively less processing to meet the sulfur content limits and hence it will require smaller and less expensive modifications compared to conventional marine fuels. For instance, a is regulation passed by the International Maritime Organization (IMO) in 2012, that stated, ships must reduce their sulfur content in fuel from 4.5% to 3.5%. However, higher capital investments and poor bunkering infrastructure are the factors, anticipated to restrain the growth of the LNG bunkering market during the forecast period.
Furthermore, Security and safety zones around the bunkering operation need to be set up, to reduce the risk of damage to property and personnel from the LNG hazards. Moreover, LNG has higher combustion efficiency and it has lower volume as that of a natural gas with relatively cost effective transportation and storage facilities. This in turn has led to widespread adoption of LNG across various industries creating several growth opportunities for the key players in the LNG bunkering market.
Among the geographies, North America and Europe are anticipated to experience fastest growth in the LNG bunkering market. Increasing focus to maintain the fossil fuels sustainability along with rising concern to minimize environmental impact are anticipated to drive the business growth in the European regions. Moreover, the countries such as India and china are projected to drive the marine trade in the Asia Pacific regions. The growth of this regional market is predictable since Norway is considered as the biggest bunking center as it offers more than 18,000 LNG bunk stations. According to the International Energy Agency, the energy demand from Southeast Asia from 2000 to 2013 had expanded by more than 50 such initiatives and are anticipated to drive LNG bunkering market growth in the Asia Pacific region over the forecast period.
The report on lng bunkering market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global lng bunkering market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global lng bunkering market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
The global lng bunkering market is segmented on the basis of product type and end-user.
Global Lng Bunkering Market by Product Type
Global Lng Bunkering Market by End-user
Bulk And General Cargo Fleet
Offshore Support Vessels
Gazpromneft Marine Bunker LLC
Eagle LNG Partners
Polskie LNG SA
Harvey Gulf International Marine LLC
Korea Gas Corporation
Royal Dutch Shell PLC,
Polskie LNG SA
How this report delivers?
1. Comprehensive analysis of global as well as regional markets of lng bunkering market .
2. Complete coverage of all the segments in lng bunkering market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global lng bunkering market . The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
The report on LNG Bunkering market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global lng bunkering market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.