Press Release: Global LNG bunkering vesselmarket

Due to the demand for cleaner fuels combined with rigorous environmental regulations, an increasing the LNG bunkering vessel market has been.

Due to the demand for cleaner fuels and severe regulatory rules to decrease chemical emissions, an increasing number of boats or ships are using LNG. This, in turn, is likely to boost expansion in the Lng Bunkering industry. For example, the International Maritime Organization (IMO) enacted a law in 2020, that specified that ships must cut their sulfur level in gasoline from 4.5% to 3.5%. Different end users are increasingly attracted to replace traditional fuels such as natural gas with LNG, owing to the latter’s large cost advantage over the former. LNG has a high combustion efficiency, is easy to redeploy, and has a lower volume than natural gas, making shipping and storage easier and less expensive. This has resulted in widespread LNG acceptance across various industries, resulting in the launching of several new LNG facilities worldwide. Creating a highly favorable market for LNG bunkering.

The LNG bunkering vessel market is restrained by the high cost of its transportation.

Throughout the projected period, the worldwide LNG bunkering market is anticipated to be constrained by high transportation costs and the necessity for safety in the transportation process. Additionally, a lack of infrastructure to fuel LNG across bunkering locations is projected to stymie the worldwide LNG bunkering market’s growth.

Increased use of LNG vessels in ferries and OSV end-users, is a new opportunity for the LNG bunkering vessel market to grow.

Explore198 market data Tables spread through nearly 144 Pages and an in-depth analysis of “Global LNG Bunkering Vessel Market by Type (Truck-To-Ship, Port-To-Ship, Ship-To-Ship, and Portable Tanks), Vessel Type (Ferries, Cruise-Ship, Bulk, and General Cargo Fleet, Offshore Support Vessels), and End-use Industry (Tanker Fleet, Container Fleet, General Cargo Fleet, Ferries, and OSV), and Region, Global Trends and Forecast From 2022 To 2029.” with Table of Contents

The worldwide LNG bunkering market is predicted to expand significantly over the forecast period, driven by increased demand for LNG fuel from end-users such as defense vessels, yachts, cruise ships, ferries & OSV, and bulk and cargo fleets. The International Maritime Organization (IMO) proposed a required decrease in 2020. The increase in sulfur content in bunker fuel provides a problem for the global maritime sector.

LNG is a great alternative fuelling solution for ship owners since it contains no sulfur and emits comparatively little sulfur oxide when burned compared to other fuel oils and marine diesel oil. Businesses are working on small-scale LNG (SSLNG) production to establish economic prospects in the worldwide market.

The key reason driving the LNG bunkering vessels market is the implementation of various rigorous environmental rules to limit or regulate conventional air pollutants.

The key reason driving the worldwide LNG bunkering market is the implementation of various rigorous environmental rules to limit or regulate conventional air pollutants. The International Maritime Organization (IMO) in 2020, is a United Nations specialized entity concerned with defining standards for worldwide maritime safety and security. Shipping and marine pollution control has set severe standards and rules to reduce pollution generated by ships. The IMO requires all ships to lower the sulfur content of their fuel.

Demand for LNG bunker fuel is predicted to grow as LNG reduces sulfur oxide emissions almost completely while also somewhat reducing nitrogen oxide and carbon dioxide emissions. An increase in demand for LNG bunkering may occur. attributed to LNG fuel’s appealing benefits over crude oil in terms of price, energy content (energy per unit mass), and environmental footprint.

The LNG bunkering vessel market is driven due to its popularity as a fuel in the transportation sector.

Over the last five years, LNG has grown in popularity as a transportation fuel. Throughout the projected period, additional emphasis is expected to be placed on improving LNG distribution infrastructure and increasing the number of LNG-powered ships. Because of the increased demand for LNG bunker fuel from maritime traffic. In terms of market expansion, rules restricting the sulfur content of conventional fuels and better efficiency are increasing demand for LNG bunkering infrastructure.

The Lng Bunkering Vessel market’s key players include Crowley Maritime Corporation, Exxon Mobil Corporation, Gasum Oy, Harvey Gulf International Marine, Klaw LNG, Korea Gas Corporation, Petroleum Nasional Berhad (Petronas), Polskie LNG S.A., Royal Dutch Shell, Total SE, PLC, SHV Energy.

Key Market Segments: LNG Bunkering Vessel Market

LNG BUNKERING VESSELMARKET BY TYPE, 2020-2029, (USD MILLION), (THOUSAND UNITS)

• TRUCK-TO-SHIP
• SHIP-TO-SHIP
• PORTABLE TANKS

LNG BUNKERING VESSEL MARKET BY MATERIAL BY VESSEL TYPE, 2020-2029, (USD MILLION), (THOUSAND UNITS)

• FERRIES
• CRUISE-SHIP
• GENERAL CARGO FLEET
• OFFSHORE VESSELS

LNG BUNKERING VESSEL MARKET BY END-USER INDUSTRY, 2020-2029, (USD MILLION), (THOUSAND UNITS)

• TANKER FLEET
• CONTAINER FLEET
• GENERAL CARGO FLEET
• OSV

LNG BUNKERING VESSEL MARKET BY REGION, 2020-2029, (USD MILLION), (THOUSAND UNITS)

• NORTH AMERICA
• ASIA PACIFIC
• EUROPE
• SOUTH AMERICA
• MIDDLE EAST AND AFRICA

IMPORTANT COUNTRIES IN ALL REGIONS ARE COVERED.

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