Summary

LNG Bunkering Market Research Report by Product Type (Truck-to-Ship, Port-to-Ship, Ship-to-Ship, Portable Tanks), by Technology (Liquefaction, Regasification), by Application (Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels, Others), and by Region (North America, Europe, Asia Pacific, South America, MEA) Forecast till 2032

Market Overview
The LNG bunkering market is projected to reach USD 32,808.5 million by 2032, growing at a CAGR of 46.02% between 2024 and 2032. LNG bunkering is the process of supplying liquefied natural gas (LNG) as fuel to ships, offering a cleaner alternative to traditional marine fuels. It helps reduce emissions of sulfur, nitrogen oxides, and carbon dioxide, supporting greener maritime operations.
The global LNG bunkering market is primarily driven by the rising demand for LNG as a cleaner energy source amid stricter environmental regulations. Being less polluting than traditional marine fuels, such as bunker oil, LNG is in a very good position to meet the decarbonization targets of the whole planet and has become the most desirable alternative. Besides, the use of LNG is becoming more and more economically viable thanks to the expansion of LNG infrastructure as well as to declining fuel and maintenance costs. In addition, the LNG technological progress in storage, transfer, and bunkering operations makes the market more robust and, therefore, more accessible; as a consequence, the market is booming globally.

Key Company Development
On 21 January 2020, Wärtsilä released its LNG Bunkering & Supply System simulator, an ambitious project aiming at elevating onboard safety and operator training for LNG-fuelled vessels. The new system, which is basically a combination of LNGPac and Gas Valve Unit hardware, is modest in size, but it contains all the needed components for fuel supply. In line with STCW and IGF Code standards, the simulator equips the crew with hands-on and immediate LNG operations skills. At the same time, it is both an educational and a training tool for safe, efficient, and eco-friendly marine fuel usage.

Major Players
Key players in the global LNG bunkering market include TotalEnergies, Petronas, Korea Gas Corporation, Wartsila, SHV Energy, Trelleborg AB, Harvey Gulf International Marine, Shell plc, Gasum Oy, and Chart Industries.

Report Attribute Details
• Market Size 2023: USD 1,096.4 Million
• Market Size 2032: USD 32,808.5 Million
• CAGR (2024-2032): 46.02%
• Base Year: 2023
• Market Forecast Period: 2024-2032

Market Segmentations
• By Product Type: Truck-to-Ship - 48.62%, Port-to-Ship - 44.43%.
• By Technology: Liquefaction - 35.64%, Regasification - 48.19%.
• By Application: Container Fleet - 9.62%, Tanker Fleet - 44.06%.

Regional Insights
The LNG bunkering market in North America has gained strong momentum in recent years, supported by abundant natural gas reserves and favorable regulatory frameworks. The United States and Canada are spearheading the adoption of LNG as a marine fuel, thanks to their established production capacity and robust energy infrastructure. North America’s LNG bunkering market is led by the US with 329.42 million USD, while Canada contributes 34.97 million USD, highlighting the region’s strong energy infrastructure.
One of the most developed LNG bunkering markets worldwide is Europe, where the major driving factors are the strictest emission norms established by the International Maritime Organization (IMO) and the EU. With the support of efficient LNG policies and the funds gained through attractive investment programs, Europe is expected to continue being the trendsetter in the LNG bunkering field. Europe’s LNG bunkering market is spearheaded by Germany at 115.5 million USD, followed by the UK and France, reflecting growing adoption across the continent.
One of the major factors leading to the expansion of LNG bunkering in the Asia-Pacific area is the increasing awareness about the environment and the demand for clean marine fuels. The Asian countries comprising Japan, South Korea, China, and Singapore have not only planned but also implemented LNG infrastructure projects to aid maritime traffic that has increased worldwide. APAC’s LNG bunkering market is led by China at 96.3 million USD, with Japan contributing 54.2 million USD, reflecting strong regional demand.
In Latin America, LNG bunkering is still in its early stages but shows promising prospects. Brazil and Argentina are exploring opportunities to expand LNG production to align with international environmental standards. While infrastructure development is limited compared to other regions, initiatives are underway to establish facilities at key ports.
The Middle East & Africa region is leveraging its vast natural gas reserves to strengthen LNG bunkering activities. Qatar and the UAE are leading efforts by investing in LNG production and export infrastructure, with the aim of serving both domestic and international shipping needs. Africa is also beginning to explore LNG opportunities, with South Africa showing early signs of infrastructure development.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY .19
2 MARKET INTRODUCTION.24
2.1 DEFINITION .24
2.2 SCOPE OF THE STUDY .24
2.3 RESEARCH OBJECTIVE .24
2.4 MARKET STRUCTURE.25
3 RESEARCH METHODOLOGY.26
3.1 OVERVIEW.26
3.2 DATA FLOW.29
DATA MINING PROCESS .29
3.3 PURCHASED DATABASE:.30
3.4 SECONDARY SOURCES: .31
SECONDARY RESEARCH DATA FLOW:.32
3.5 PRIMARY RESEARCH:.33
PRIMARY RESEARCH DATA FLOW:.34
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: .35
TRADE ANALYSIS APPROACH .35
3.7 DATA FORECASTING.35
DATA FORECASTING TECHNIQUE.36
3.8 DATA MODELING.37
MICROECONOMIC FACTOR ANALYSIS:.37
DATA MODELING: .37
3.9 TEAMS AND ANALYST CONTRIBUTION .40
4 MARKET DYNAMICS.43
4.1 INTRODUCTION.43
4.2 DRIVERS.44
4.2.1 INCREASE IN DEMAND OF LNG AS ENERGY SOURCE.44
4.2.2 EXCAVATION OF NEW LNG SITES AND RISE IN LIQUEFICATION PLANTS AND BUNKERING VESSELS & TERMINALS .45
4.3 RESTRAINTS.47
4.3.1 HIGH INITIAL COST OF LNG BUNKERING AND THE STRICT GOVERNMENT REGULATION .47
4.4 OPPORTUNITY.48
COPYRIGHT c 2024 MARKET RESEARCH FUTURE 8
4.4.1 EQUIPPING NEW VESSELS WITH SCRUBBERS .48
4.4.2 LNG AS A CLEANER ALTERNATIVE FUEL FOR SHIPPING .49
4.5 TREND .49
4.5.1 INNOVATIONS AND ADVANCEMENTS IN LNG BUNKERING .49
4.6 IMPACT ANALYSIS OF COVID-19 .50
5 MARKET FACTOR ANALYSIS.51
5.1 SUPPLY/VALUE CHAIN ANALYSIS .51
5.1.1 NATURAL GAS PRODUCTION.51
5.1.2 LNG BUNKERING INFRASTRUCTURE .51
5.1.3 BUNKER SUPPLIER .52
5.1.4 END USERS .52
5.2 PORTER’S FIVE FORCES MODEL .53
5.2.1 BARGAINING POWER OF SUPPLIERS .53
5.2.2 BARGAINING POWER OF BUYERS .54
5.2.3 THREAT OF NEW ENTRANTS .54
5.2.4 THREAT OF SUBSTITUTES .54
5.2.5 INTENSITY OF RIVALRY .54
5.3 DEMAND ANALYSIS, 2018-2032 .55
5.4 PROVIDERS OF EQUIPMENT FOR THE LNG BUNKERING .56
5.5 LIST OF THIRD PARTY SERVICE PROVIDERS OF LNG BUNKERING*.57
5.6 GLOBAL BUNKER FUEL MARKET ANALYSIS, BY REGION 2018-2032 .58
5.7 GLOBAL BUNKER FUEL MARKET ANALYSIS, BY PRODUCT, 2018-2032, (USD BILLION) .59
5.8 GLOBAL NATURAL GAS MARKET ANALYSIS, BY REGION 2018-2032, (USD THOUSAND) .59
6 GLOBAL LNG BUNKERING MARKET, BY PRODUCT TYPE .60
6.1 OVERVIEW.60
6.2 TRUCK-TO-SHIP.61
6.3 PORT-TO-SHIP.61
6.4 SHIP-TO-SHIP .61
6.5 PORTABLE TANKS.62
7 GLOBAL LNG BUNKERING MARKET, BY TECHNOLOGY.63
7.1 OVERVIEW.63
7.2 LIQUEFACTION.64
7.3 REGASIFICATION.64
8 GLOBAL LNG BUNKERING MARKET, BY APPLICATION .65
8.1 INTRODUCTION.65
8.2 CONTAINER FLEET.66
8.3 TANKER FLEET.66
8.4 CARGO FLEET .67
8.5 FERRIES .67
8.6 INLAND VESSELS .67
8.7 OTHERS.68
9 GLOBAL LNG BUNKERING MARKET, BY REGION.69
9.1 OVERVIEW.69
9.2 NORTH AMERICA.70
9.2.1 US .71
9.2.2 CANADA.72
9.2.3 MEXICO.73
9.3 EUROPE.74
9.3.1 GERMANY .75
9.3.2 FRANCE .76
9.3.3 UK .77
9.3.4 ITALY .78
9.3.5 NETHERLANDS .79
9.3.6 BELGIUM .80
9.3.7 DENMARK .81
9.3.8 SPAIN .82
9.3.9 REST OF EUROPE.83
9.4 ASIA-PACIFIC.85
9.4.1 CHINA.86
9.4.2 INDIA .87
9.4.3 JAPAN.88
9.4.4 SOUTH KOREA .89
9.4.5 SINGAPORE.90
9.4.6 MALAYSIA .91
9.4.7 REST OF ASIA-PACIFIC .92
9.5 LATIN AMERICA.94
9.5.1 BRAZIL .95
9.5.2 ARGENTINA .96
9.5.3 CHILE .97
9.5.4 COLUMBIA .98
9.5.5 URUGUAY .99
9.5.6 PARAGUAY.100
9.5.7 REST OF LATIN AMERICA.101
9.6 MIDDLE EAST & AFRICA .103
9.6.1 SAUDI ARABIA.104
9.6.2 UAE .105
9.6.3 QATAR.106
9.6.4 KUWAIT .107
9.6.5 OMAN.108
9.6.6 BAHRAIN .109
9.6.7 SOUTH AFRICA .110
9.6.8 REST OF MIDDLE EAST & AFRICA.111
10 COMPETITIVE LANDSCAPE .113
10.1 INTRODUCTION.113
10.2 COMPETITION DASHBOARD.113
10.3 COMPAY MARKET SHARE ANALYSIS, 2023 .114
10.4 WHO ARE THE MARKET DISRUPTORS & INNOVATORS? .114
10.5 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS? .115
10.6 COMPETITIVE BENCHMARKING.116
10.7 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE GLOBAL LNG
BUNKERING MARKET.117
10.8 LIST OF KEY PLAYERS, BY REGION.117
10.9 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2023 .118
10.10 KEY DEVELOPMENTS & GROWTH STRATEGIES .119
10.10.1 PRODUCT LAUNCH/ SERVICE LAUNCH .119
10.10.2 CAPACITY EXPANSION .119
10.10.3 AGREEMENT/ PARTNERSHIP.120
10.10.4 ACQUISITION.120
11 COMPANY PROFILES.122
11.1 TOTALENERGIES.122
11.1.1 COMPANY OVERVIEW.122
11.1.2 FINANCIAL OVERVIEW.123
11.1.3 PRODUCTS OFFERED.123
11.1.4 KEY DEVELOPMENTS.123
11.1.5 SWOT ANALYSIS .124
11.1.6 KEY STRATEGY .124
11.2 PETRONAS.125
11.2.1 COMPANY OVERVIEW.125
11.2.2 FINANCIAL OVERVIEW.126
11.2.3 PRODUCTS OFFERED.126
11.2.4 KEY DEVELOPMENTS.127
11.2.5 SWOT ANALYSIS .128
11.2.6 KEY STRATEGY .128
11.3 KOREA GAS CORPORATION.129
11.3.1 COMPANY OVERVIEW.129
11.3.2 FINANCIAL OVERVIEW.130
11.3.3 PRODUCTS OFFERED.130
11.3.4 KEY DEVELOPMENTS.130
11.3.5 SWOT ANALYSIS .131
11.3.6 KEY STRATEGY .131
11.4 WARTSILA.132
11.4.1 COMPANY OVERVIEW.132
11.4.2 FINANCIAL OVERVIEW.133
11.4.3 SERVICE OFFERED.133
11.4.4 KEY DEVELOPMENTS.134
11.4.5 SWOT ANALYSIS .134
11.4.6 KEY STRATEGY .135
11.5 SHV ENERGY.136
COMPANY OVERVIEW .136
FINANCIAL OVERVIEW .137
PRODUCTS OFFERED .137
KEY DEVELOPMENTS.137
SWOT ANALYSIS .137
KEY STRATEGY .138
11.6 TRELLEBORG AB.139
COMPANY OVERVIEW .139
FINANCIAL OVERVIEW .140
PRODUCTS OFFERED .140
KEY DEVELOPMENTS.141
SWOT ANALYSIS .141
KEY STRATEGY .141
11.7 HARVEY GULF INTERNATIONAL MARINE, LLC.143
COMPANY OVERVIEW .143
FINANCIAL OVERVIEW .144
PRODUCTS OFFERED .144
KEY DEVELOPMENTS.144
SWOT ANALYSIS .145
KEY STRATEGY .145
11.8 SHELL PLC.146
11.8.1 COMPANY OVERVIEW.146
11.8.2 FINANCIAL OVERVIEW.147
PRODUCTS OFFERED .147
KEY DEVELOPMENTS.148
SWOT ANALYSIS .149
KEY STRATEGIES .149
11.9 GASUM OY .150
11.9.1 COMPANY OVERVIEW.150
11.9.2 FINANCIAL OVERVIEW.151
PRODUCTS OFFERED .151
KEY DEVELOPMENTS.151
SWOT ANALYSIS .152
KEY STRATEGIES .153
11.10 CHART INDUSTRIES.154
11.10.1 COMPANY OVERVIEW.154
11.10.2 FINANCIAL OVERVIEW.155
PRODUCTS OFFERED .155
KEY DEVELOPMENTS.155
SWOT ANALYSIS .156
KEY STRATEGIES .156
12 DATA CITATIONS .157