The Global LNG as Bunker Fuel Market is expected to grow USD XX Million by 2025 at a CAGR of around 9.3% during the forecast period, 2018-2025. LNG as bunker fuel provides lower ship emissions than traditional bunker fuels.
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The global LNG as bunker fuel market is anticipated to show strong growth within forecast . Growth in the market is attributed to low prices of LNG fuel than other conventional fuel. Moreover, IMO regulations of sulfur cap for marine fuels coupled with high growth in marine trade is expected to propel the market growth in the near future. However, high investment cost and lack of LNG fueling infrastructure are some of the key factors which would restrict the growth of the market.
Ongoing research and technological advancement are potential opportunities which would drive the market growth in the forecast period.
On the basis of navigation area, the LNG as a bunker fuel market can be segmented into ocean & sea and inland waterways. In terms of revenue, ocean & sea was the leading segment in 2017. It is one of the cost-effective method to transport goods and raw materials in bulk.
Regionally, North America, Latin America, Europe, Asia Pacific, And The Middle East & Africa constitute the key market segments. Each region has been further segmented into countries such as the U.S., UK, France, Germany, China, India, Japan, and Brazil. In terms of revenue, Europe accounted for largest share of this market in 2017. This growth can be attributed to increasing demand among countries, such as Spain, Belgium and the Netherlands in the region owing to stringent regulations in ECAs. Asia Pacific is expected to expirince strong growth over the forecast period.
Some of the key players operating in this market include Statoil ASA, Barents Natural Gas AS, The Linde Group, ENGIE SA, Royal Dutch Shell Plc, Gasum Oy, Korea Gas Corporation, Kunlun Energy Company Ltd., Eni s.p.A, CNOOC Limited, Energize and Others.
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TABLE OF CONTENT
1 Executive Summary
2 Methodology And Market Scope
3 Lng As Bunker Fuel Market — Industry Outlook
4 Lng As Bunker Fuel Market Type Outlook
5 Lng As Bunker Fuel Market Application Outlook
6 Lng As Bunker Fuel Market Regional Outlook
7 Competitive Landscape
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