Global LNG Bunkering Market Research Report Information by Product Type, by Technology, by Application, and by Region Forecast till 2032

Description

List of Tables

Global LNG Bunkering Market Research Report Information 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

Industry Overview

The LNG bunkering market is expected to hit USD 32,808.5 million, with a CAGR of 46.02% by the end of 2032. Liquefied Natural Gas (LNG) bunkering refers to refueling vessels with LNG instead of conventional oil-based fuels. This practice is gaining traction as the shipping industry seeks to lower its environmental impact and comply with stricter emission regulations.

Growing emphasis on reducing greenhouse gas emissions is fueling the adoption of LNG bunkering as ship operators shift toward sustainable energy solutions. Besides the environmental advantages of cleaner combustion, LNG offers the shipping industry, among others, monetary savings such as lower fuel prices as well as fewer maintenance needs. In response to market needs, international regulatory requirements, rapid industrial growth, and the wider availability of LNG play an important role in opening new avenues of market opportunities. Besides that, the developments in bunkering technology, along with the specialized vessels and dedicated terminals for this sector, have made great progress in operating efficiency.

Major Company Development

One of the major company developments is that Wartsila released a new LNG Bunkering & Supply System simulator on 21 January 2020, the purpose of which is to enhance the safety standard and staff qualifications in LNG-powered vessels. Using LNGPac and Gas Valve Unit technologies, the simulator also involves the auxiliary systems that are vital for fuel management. In line with the STCW training guidelines and IGF Code safety standards for the development of the simulator, the launch consolidates training facilities for the maritime sector, thus it contributes to the educational aspect of safe LNG handling and marine operations done in a way that they are 'future-ready'.

Key Players

Major 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

Industry 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 Analysis

The growth in LNG bunkering facilities in the US and Canada has mainly been fueled by abundant local gas reserves and government-supported projects aimed at encouraging the use of clean energy. The two North American countries are now at the forefront by being able to provide not only LNG production that is sustainable, but also the transport part of the supply chain that has already been established. In 2024, North America dominates LNG bunkering with 329.42 USD million from the US and 34.97 USD million from Canada.

Europe is leading the way in LNG bunkering use, driven by clean air laws that restrict the release of sulfur and nitrogen oxides. LNG infrastructure in the region, combined with mature supply chains, has allowed the steady development of the market. Germany leads Europe's LNG bunkering sector with 115.5 USD million, while the UK (75.6 USD million) and France (45.0 USD million) contribute smaller but steady shares.

The Asia-Pacific region is becoming a lively market for LNG bunkering with the support of the increasing shipping activities and rigorous environmental mandates. The three countries of China, Japan, and Singapore are allocating a large proportion of their budgets into building LNG terminals and bunkering vessels to facilitate their supply networks. In the Asia-Pacific region, China drives the LNG bunkering market (96.3 USD million), while Japan holds a significant secondary position (54.2 USD million).

In Latin America, the LNG bunkering market is gradually developing, with Brazil and Argentina showing strong interest in LNG adoption. Current efforts are centered on building the necessary infrastructure to meet emission-reduction goals in line with international standards. The progress in LNG production offers a positive outlook for future market expansion.

The Middle East & Africa region is gaining traction in LNG bunkering, supported by abundant natural gas reserves and strong export potential. The UAE and Qatar are leading the market, building large-scale infrastructure to support LNG-powered fleets. African countries, including South Africa, are beginning to explore LNG projects to strengthen maritime competitiveness. The region's geographical advantage along global shipping lanes further enhances its strategic importance.

Product Code: MRFR/E&P/6272-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- PRIMARY RESEARCH DATA FLOW:
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- TRADE ANALYSIS APPROACH
3.7 DATA FORECASTING
- DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- MICROECONOMIC FACTOR ANALYSIS:
- DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 INCREASE IN DEMAND OF LNG AS ENERGY SOURCE
- 4.2.2 EXCAVATION OF NEW LNG SITES AND RISE IN LIQUEFICATION PLANTS AND BUNKERING VESSELS & TERMINALS
4.3 RESTRAINTS
- 4.3.1 HIGH INITIAL COST OF LNG BUNKERING AND THE STRICT GOVERNMENT REGULATION
4.4 OPPORTUNITY
- 4.4.1 EQUIPPING NEW VESSELS WITH SCRUBBERS
- 4.4.2 LNG AS A CLEANER ALTERNATIVE FUEL FOR SHIPPING
4.5 TREND
- 4.5.1 INNOVATIONS AND ADVANCEMENTS IN LNG BUNKERING
4.6 IMPACT ANALYSIS OF COVID-19

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY/VALUE CHAIN ANALYSIS
- 5.1.1 NATURAL GAS PRODUCTION
- 5.1.2 LNG BUNKERING INFRASTRUCTURE
- 5.1.3 BUNKER SUPPLIER
- 5.1.4 END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 BARGAINING POWER OF SUPPLIERS
- 5.2.2 BARGAINING POWER OF BUYERS
- 5.2.3 THREAT OF NEW ENTRANTS
- 5.2.4 THREAT OF SUBSTITUTES
- 5.2.5 INTENSITY OF RIVALRY
5.3 DEMAND ANALYSIS, 2018-2032
5.4 PROVIDERS OF EQUIPMENT FOR THE LNG BUNKERING
5.5 LIST OF THIRD PARTY SERVICE PROVIDERS OF LNG BUNKERING*
5.6 GLOBAL BUNKER FUEL MARKET ANALYSIS, BY REGION 2018-2032
5.7 GLOBAL BUNKER FUEL MARKET ANALYSIS, BY PRODUCT, 2018-2032, (USD BILLION)
5.8 GLOBAL NATURAL GAS MARKET ANALYSIS, BY REGION 2018-2032, (USD THOUSAND)

6 GLOBAL LNG BUNKERING MARKET, BY PRODUCT TYPE

6.1 OVERVIEW
6.2 TRUCK-TO-SHIP
6.3 PORT-TO-SHIP
6.4 SHIP-TO-SHIP
6.5 PORTABLE TANKS

7 GLOBAL LNG BUNKERING MARKET, BY TECHNOLOGY

7.1 OVERVIEW
7.2 LIQUEFACTION
7.3 REGASIFICATION

8 GLOBAL LNG BUNKERING MARKET, BY APPLICATION

8.1 INTRODUCTION
8.2 CONTAINER FLEET
8.3 TANKER FLEET
8.4 CARGO FLEET
8.5 FERRIES
8.6 INLAND VESSELS
8.7 OTHERS

9 GLOBAL LNG BUNKERING MARKET, BY REGION

9.1 OVERVIEW
9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.2 CANADA
- 9.2.3 MEXICO
9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.2 FRANCE
- 9.3.3 UK
- 9.3.4 ITALY
- 9.3.5 NETHERLANDS
- 9.3.6 BELGIUM
- 9.3.7 DENMARK
- 9.3.8 SPAIN
- 9.3.9 REST OF EUROPE
9.4 ASIA-PACIFIC
- 9.4.1 CHINA
- 9.4.2 INDIA
- 9.4.3 JAPAN
- 9.4.4 SOUTH KOREA
- 9.4.5 SINGAPORE
- 9.4.6 MALAYSIA
- 9.4.7 REST OF ASIA-PACIFIC
9.5 LATIN AMERICA
- 9.5.1 BRAZIL
- 9.5.2 ARGENTINA
- 9.5.3 CHILE
- 9.5.4 COLUMBIA
- 9.5.5 URUGUAY
- 9.5.6 PARAGUAY
- 9.5.7 REST OF LATIN AMERICA
9.6 MIDDLE EAST & AFRICA
- 9.6.1 SAUDI ARABIA
- 9.6.2 UAE
- 9.6.3 QATAR
- 9.6.4 KUWAIT
- 9.6.5 OMAN
- 9.6.6 BAHRAIN
- 9.6.7 SOUTH AFRICA
- 9.6.8 REST OF MIDDLE EAST & AFRICA

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 COMPETITION DASHBOARD
10.3 COMPAY MARKET SHARE ANALYSIS, 2023
10.4 WHO ARE THE MARKET DISRUPTORS & INNOVATORS?
10.5 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS?
10.6 COMPETITIVE BENCHMARKING
10.7 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE GLOBAL LNG BUNKERING MARKET
10.8 LIST OF KEY PLAYERS, BY REGION
10.9 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2023
10.10 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 10.10.1 PRODUCT LAUNCH/ SERVICE LAUNCH
- 10.10.2 CAPACITY EXPANSION
- 10.10.3 AGREEMENT/ PARTNERSHIP
- 10.10.4 ACQUISITION

11 COMPANY PROFILES

11.1 TOTALENERGIES
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS OFFERED
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGY
11.2 PETRONAS
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGY
11.3 KOREA GAS CORPORATION
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGY
11.4 WARTSILA
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 SERVICE OFFERED
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGY
11.5 SHV ENERGY
- COMPANY OVERVIEW
- FINANCIAL OVERVIEW
- PRODUCTS OFFERED
- KEY DEVELOPMENTS
- SWOT ANALYSIS
- KEY STRATEGY
11.6 TRELLEBORG AB
- COMPANY OVERVIEW
- FINANCIAL OVERVIEW
- PRODUCTS OFFERED
- KEY DEVELOPMENTS
- SWOT ANALYSIS
- KEY STRATEGY
11.7 HARVEY GULF INTERNATIONAL MARINE, LLC
- COMPANY OVERVIEW
- FINANCIAL OVERVIEW
- PRODUCTS OFFERED
- KEY DEVELOPMENTS
- SWOT ANALYSIS
- KEY STRATEGY
11.8 SHELL PLC
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 FINANCIAL OVERVIEW
  - PRODUCTS OFFERED
  - KEY DEVELOPMENTS
  - SWOT ANALYSIS
  - KEY STRATEGIES
11.9 GASUM OY
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW
  - PRODUCTS OFFERED
  - KEY DEVELOPMENTS
  - SWOT ANALYSIS
  - KEY STRATEGIES
11.10 CHART INDUSTRIES
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW
  - PRODUCTS OFFERED
  - KEY DEVELOPMENTS
  - SWOT ANALYSIS
  - KEY STRATEGIES

12 DATA CITATIONS