Liquefied natural gas is transferred to a ship for bunkering, where it is used as fuel. It is a well-liked way of refuelling ships since it produces less pollution than other conventional methods like heavy fuel oil and marine gas oil. The industry has predicted a stable price for LNG as a fuel, and there is also a consistent supply of natural gas.

The maritime industry has been under pressure from environmental authorities to lessen the pollution that is produced by ship transportation, and the recently enacted strict rules on the content of Sulphur in marine bunker fuel are driving the popularity of the LNG bunkering system and the development of infrastructure to support it.

LNG Carrier Bunkering market is presently worth USD 229.4 million and is poised to amplify at a CAGR of 6.5% over 2022-2030, thereby amassing a valuation of USD 417.8 million by end of the assessment timeline.

Key market trends- Growth determinants and restraints

Global demand for bunkering is being driven by shipping sector operators' increased adoption of LNG as a fuel. Sulfur oxide may be completely reduced with LNG, which is good for the environment and people's health. In order to improve air quality, the International Maritime Organization (IMO) imposed a new limit on the sulphur content of fuel oil used in ships in 2020. The management of LNG bunkering is essential, and crew operators need adequate training to uphold safe standards. Therefore, businesses should concentrate on RD for LNG bunkering infrastructure, installation, and operation. Companies can work together with GECF nations to purchase LNG fuel, which can then be utilised for LNG bunkering.

The expansion of LNG manufacturing and storage facilities is being driven by an increase in the use of LNG as a bunker fuel and an increase in orders for new ships propelled by LNG. The Gas Exporting Countries Forum (GECF) members have a competitive advantage and the potential to develop into major global LNG bunkering hubs.

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Segmentation Analysis of Global LNG Carrier Bunkering market

Based on type

• Truck-to-ship
• Port-to-ship
• Ship-to-ship
• Portable tanks
• Others

Based on application

• Container fleet
• Tanker fleet
• Cargo fleet
• Ferries
• Inland vessels
• Others

Asia-Pacific is expected to hold the largest market share

North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global LNG Carrier Bunkering market. Asia-Pacific dominates the market with the largest market share among others.

Competitive Landscape:

The Key players in the Global LNG Carrier Bunkering Market are Shell plc, Total Energies, ABS Group, Gasum Ltd., Probunkers, Harvey Gulf International Marine, Nauticor GmbH Co.KG, GAZ System, Eagle LNG Partners, Mitsui O.S.K Lines, SEA-LIQUEFIED NATURAL GAS (LNG), Titan LIQUEFIED NATURAL GAS (LNG), Carnival Corporation, plc., Cryostary, Air Liquide, Korea Gas Corporation, and Van Ameyde Marine, and others.

Major Development:

The Global LNG Carrier Bunkering market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.

Major Questions Answered In This Report:

• What is the growth rate of this Market?
• What are the primary growth determinants of this market?
• Which are the major regions constituting the geographical landscape of Global LNG Carrier Bunkering Market?
• Which are the prominent companies operating in Global LNG Carrier Bunkering Market?

Key Takeaways From The Report:

• The Global LNG Carrier Bunkering market registers a growing CAGR of 6.5%from 2022 to 2030.
• LNG bunkering infrastructure is quickly growing, and the fuel is currently accessible in the majority of the main maritime ports. The advantages of using LNG bunker fuel are anticipated to increase interest in using LNG in place of oil as a maritime fuel.
• Asia-Pacific hold the largest market share, and is expected to grow further in the upcoming years.
• Some popular companies are Shell plc, Total Energies, ABS Group, Gasum Ltd., Probunkers, Harvey Gulf International Marine, Nauticor GmbH Co.KG, GAZ System, Eagle LNG Partners, Mitsui O.S.K Lines, SEA-LIQUEFIED NATURAL GAS (LNG), Titan LIQUEFIED NATURAL GAS (LNG), Carnival Corporation, plc., Cryostary, Air Liquide, Korea Gas Corporation, and Van Ameyde Marine, and others.

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