Raipur, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the LNG Bunkering Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the LNG Bunkering Market is driven by a host of factors, some of which are noted below:
- Technological advancements in vessel design to cut down maintenance.
- Enhance fuel efficiency and improve performance.
- Reliability and safety.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
LNG Bunkering Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Product Type (Truck-to-Ship, Port-to-Ship, Ship-to-Ship, and Portable Tanks),
- By End-Use Type (Container Vessels, Cruise-ships, Bulk Carriers, Ferries, and Offshore Support Vessels),
- By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
LNG Bunkering Market Insights
Market Trends by Product Type
The market is segmented as truck-to-ship, port-to-ship, ship-to-ship, and portable tanks. The ship-to-ship LNG bunkering market is expected to observe an expansion of over 60% by 2021, owing to its quick transfer operations and high capacity. Capacity to allow the movement of cargo and bunkering operations to occur simultaneously, which will further glorify the industry landscape during the forecast period. On the other hand, the availability of pipelines on ports along with larger hoses to elevate the bunkering rate; will positively influence the port-to-ship market size. Low cost and quick transfer operations will go a long way in promoting the acceptance of truck-to-ship operations.
Market Trends by End-Use Type
The market is segmented into container vessels, cruise ships, bulk carriers, ferries, and offshore support vessels. The RO-Pax LNG bunkering market is likely to experience strong growth over the forecast period on account of its high fuel consumption. The segment consists of cruise ships, ferries, and Roll-On and Roll-Off car carriers. Sanguine outlook towards international maritime trade coupled with stringent environmental regulations to steer the market with lucrative returns.
Which region offers the best opportunity and growth?
North America led the market for LNG bunkering in 2021 and is expected to maintain its indubitable lead during the forecast period. The growth of the region can be attributed to the current shale production with stringent emission norms, which will flourish business growth. Furthermore, increasing focus to maintain fossil fuel sustainability along with rising concern to reduce environmental impact will lead the market growth. Also, growing investments towards the upgradation and rebuilding of LNG infrastructure to further augment the industry outlook. Europe and Asia-Pacific are also expected to have substantial growth opportunities over the forecast period.
COVID-19 Impact on the LNG Bunkering Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
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Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- Bomin Linde LNG GmbH & Co. KG
- Eagle LNG Partners.
- Engie SA
- ENN Energy Holdings Limited.
- Gasnor AS
- Harvey Gulf International Marine LLC.
- Korea Gas Corporation
- Polskie LNG
- Royal Dutch Shell plc.
- Skangass AS.
What deliverables will you get in this report?
- In-depth analysis of the LNG bunkering market.
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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