LNG Bunkering: Worldwide Market Review & Outlook (2018-2024) - 73.6% CAGR is Projected - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 21, 2018--The “LNG Bunkering Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024” report has been added to ResearchAndMarkets.com’s offering.
The report predicts the global LNG bunkering market to grow with a CAGR of 73.6% over the forecast period of 2018-2024. North America and Europe are anticipated to experience fastest growth in the LNG bunkering market.
Stringent government laws to reduce airborne marine emissions that includes pollutants such as sulfur and nitrous oxide along with shifting trends towards clean energy are the major factors driving the growth of the LNG bunkering market.
In addition, LNG fuel has low sulfur content and needs comparatively less processing to meet the sulfur content limits and hence it will require smaller and less expensive modifications compared to conventional marine fuels. For instance, a is regulation passed by the International Maritime Organization (IMO) in 2012, that stated, ships must reduce their sulfur content in fuel from 4.5% to 3.5%.
Moreover, LNG has higher combustion efficiency and it has lower volume as that of a natural gas with relatively cost effective transportation and storage facilities. This in turn has led to widespread adoption of LNG across various industries creating several growth opportunities for the key players in the LNG bunkering market.
However, higher capital investments and poor bunkering infrastructure are the factors, anticipated to restrain the growth of the LNG bunkering market during the forecast period. Furthermore, Security and safety zones around the bunkering operation need to be set up, to reduce the risk of damage to property and personnel from the LNG hazards.
Companies ProfiledGazpromneft Marine Bunker LLC ENN Group Eagle LNG Partners Polskie LNG SA Harvey Gulf International Marine LLC Korea Gas Corporation Skangass AS Royal Dutch Shell PLC Polskie LNG SA ENGIE
Key Topics Covered
2. Executive Summary
3. Global LNG Bunkering Market Overview
4. LNG Bunkering Market Macro Indicator Analysis
5. Global LNG Bunkering Market by Product Type
6. Global LNG Bunkering Market by End-user
7. Global LNG Bunkering Market by Region 2018-2024
8. Company Profiles and Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/xk6t8v/lng_bunkering?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180921005208/en/
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Related Topics:Maritime,LNG (Liquefied Natural Gas)
INDUSTRY KEYWORD: ENERGY OIL/GAS TRANSPORT MARITIME
SOURCE: Research and Markets
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PUB: 09/21/2018 07:34 AM/DISC: 09/21/2018 07:34 AM