bunkering vessels & terminals are driving the growth of the LNG Bunkering Market at a CAGR of 45.88% during the forecast period 2025 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Global LNG Bunkering Market” that contains the information from 2019 to 2035.

The Global LNG Bunkering Market is estimated to register a CAGR of 45.88 % during the forecast period of 2025 to 2035.

MRFR recognizes the following companies as the key players in the Global LNG Bunkering Market — TotalEnergies, Petronas, KOREA Gas Corporation, Wartsila, Wartsila, Trelleborg AB, Harvey Gulf International Marine, LLC, SHELL PLC, Gasum Oy, Chart Industries and others.

The Global LNG Bunkering Market accounted for registering a CAGR of 45.88% during the forecast period and is estimated to reach USD 65.26 Billion by 2035.

At present, the US is the world’s largest producer of natural gas. The consumption of natural gas is nearly about one third and is mostly used in generating electricity and in purposes for heating. The natural gas is mostly delivered or supplied in its gaseous form or state though the pipeline, but as the rise in demand in the international market has led to the rise or increase in the demand for the LNG. Most important feature or characteristics of the LNG is that the volume of the natural gas in liquid state or form is nearly about 600 times smaller than its own volume in its gas form or state. Because of the above-mentioned features or characteristics, it is helpful in transporting natural gas to the places where the pipeline is not reachable. To transport the LNG by ocean transport, LNG is offloaded in the insulated storage tanks, and it is converted into gas the entrance of the pipeline, for the distribution. Due to the rise in the trade activities of the small-scale LNG shipments, special cryogenic tanks are fitted on trucks to meet the need in case of the peak demand.

According to the recent report of the US Department of energy, the US has exported nearly 2,400 billion cubic feet of natural gas to the Liquid state (LNG), with the help of containers or trucks. They also state that in August 2021, the US delivered LNG to 40 countries. The LNG is imported to New England, where there is limited storage capacity and pipeline infrastructure. Moreover, In December 2023, The US exported 709 Bcf and imported 286.1 Bcf natural gas, as a result net export was, around 423.3 Bcf. The US supplier to the following regions: Europe, Asia, Latin America i.e. 293.8, 110.5 and 18.6 Bcf. Furthermore, U.S. LNG exports to the top five countries of destination accounted for 53.7% of total U.S. LNG exports. It exported to United Kingdom (60.2 Bcf, 14.2%), Netherlands (48.7 Bcf, 11.5%), Turkey (42.3 Bcf, 10.0%), France (40.7 Bcf, 9.6%), and South Korea (35.2 Bcf, 8.3%).  

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Segmental Analysis

The Global LNG Bunkering Market has been segmented based on by Product Type and by Application.

Based on Product Type, this segment includes Truck-to-Ship, Port-to-Ship, Ship to Ship, Portable Tanks. The Ship-to-Ship segment dominated the global market in 2024, while the Truck-to-Ship segment is projected to be the fastest–growing segment during the forecast period. Ship-to-Ship bunkering is among the largest types of product type used in the LNG bunkering market. It can take place between two sea-going ships at anchorage or in port. During the process, the bunker vessel will typically moor alongside the receiving vessel, and the two vessels will be connected by hoses. Also, depending on the port restrictions, the overall bunkering operation can be done efficiently at the same time as the vessel receiving LNG conducts simultaneous cargo operations. However, the LNG bunker vessel needs to have a license to operate, issued by local authorities which does not require any special permit unless the operation takes place close to the shore.

Based on Application, this segment includes Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels, Others. The Tanker Fleet segment dominated the global market in 2024, while the Container Fleet segment is projected to be the fastest–growing segment during the forecast period. Tanker fleet, designed to carry liquid cargo in bulk within its cargo spaces, without the use of barrels or other containers. Most tankers carry either crude oil from oil fields to refineries or petroleum products such as gasoline, diesel fuel, fuel oil, or petrochemical feedstock from refineries to distribution centers. Some tankers with special food-grade holds, pumps, and other handling equipment can carry molasses, edible oil, and even wine in bulk. Specialized ships for transporting liquefied natural gas and fruit juices are often called tankers, though on these ships the cargo is carried in large, refrigerated containers that fit into the hold. These tankers are equipped with modern technologies and available in many different sizes and capacities. This size variation ranges from small self-propelled barges to ultra large crude carriers. Out of the total merchant ships in the world, about 30% are tankers. Crude-oil and petroleum-product tankers vary in size from small coastal vessels about 60 meters (200 feet) long, carrying from 1,500 to 2,000 deadweight tons (dwt), up to huge vessels that reach lengths of more than 400 meters (1,300 feet), carry as much as 550,000 dwt, and are the largest ships afloat.

Regional Analysis

Geographically, the Global LNG Bunkering Market has been segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.

Major demand factors driving the Europe market are the rise in import & export of LNG and rise in liquefication plants and bunkering vessels & terminals. The growth and development of the LNG bunkering industry in Europe can be attributed to several important factors. Environmental regulations are increasingly prevalent, with the International Maritime Organization (IMO) emphasizing the need to limit sulfur emissions, which is driving the increasing importance of marine fuels. Due to its lower emissions of SOx, NOx and particles, LNG has become a viable alternative for marine fuels. With its strong European infrastructure and long-standing LNG supply chains, as well as a progressive regulatory system that promotes LNG usage as an alternative fuel for marine applications, the region is now one of the world's leading producers of LNG.

The LNG bunkering industry in North America has experienced significant growth in recent years due to various factors. LNG has become a cleaner and more environmentally friendly alternative to traditional marine fuels as the shipping industry continues to comply with stricter emissions regulations. The United States and Canada, along with other countries like North America, possess significant natural gas reserves and serve as a reliable source for LNG production. This availability of domestic LNG has facilitated the development of LNG bunkering infrastructure along key maritime routes and ports, catering to the growing demand for LNG-fueled vessels.

There have been several factors that have contributed to the rapid growth of the LNG bunkering sector in Asia Pacific. With the growing concerns about air pollution and environmental regulations, demand for clean marine fuels is rising. Ship owners and operators are increasingly choosing LNG as a marine fuel option due to its benefits for having low emissions of sulfur oxides (SOx), nitrogen oxide, and particulate matter compared to traditional fuels. Japan, South Korea, China and Singapore are among the Asia-Pacific nations that have invested heavily in LNG production infrastructure to support the increasing adoption of LNG-fueled vessels.

The growth of the LNG bunkering industry in Latin America is driven by multiple factors. As environmental concerns and emissions regulations grow in the shipping industry, LNG has become a more environmentally friendly and efficient alternative to conventional marine fuels. Latin American nations, such as Brazil and Argentina, are increasingly interested in producing LNG to meet international standards and reduce harmful emissions. Although the region is still in the early stages of developing LNG bunkering infrastructure, it is a positive sign of progress. Additionally, the potential for LNG production in countries like Argentina further enhances the feasibility of LNG bunkering in the region.

Several factors are contributing to the growing interest in the Middle East and Africa (MEA) LNG bunkering market. Due to the increasing use of cleaner fuels and environmental concerns, LNG has become a viable option for the marine industry. The region is strategically positioned to benefit from the significant oil and gas resources in its MEA region, which is experiencing an increase in demand for LNG production. Countries such as the United Arab Emirates (UAE) and Qatar are leading the way in developing LNG production infrastructure by leveraging their natural gas (LNG) production and export potential. In addition, African countries such as South Africa and Egypt are also exploring opportunities in the LNG bunkering sector to strengthen their shipping capabilities.

Key Findings of the Study

• The Global LNG Bunkering Market is expected to reach USD 65.26 Billion by 2035, at a CAGR of 45.88% during the forecast period.


• The Europe region accounted for the fastest-growing global market.


• Based on the Application, the Tanker Fleet segment was attributed to holding the largest market in 2024.


• TotalEnergies, Petronas, KOREA Gas Corporation, Wartsila, Wartsila, Trelleborg AB, Harvey Gulf International Marine, LLC, SHELL PLC, Gasum Oy, Chart Industries and others are some of the players in the market.