📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

LNG Bunkering Market Research Report Information By Vessel Type (Container Ships, Tankers, Bulk and General Cargo Vessel, Ferries and Offshore Support Vessel) By Product (Portable Tanks, Port to Ship, Ship to Ship, Truck Ship) and By Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa)-Global Forecast to 2030

ID: MRFR/E&P/6272-CR | 128 Pages | Author: Anshula Mandaokar| January 2024

Global LNG Bunkering Market Overview

Global LNG Bunkering Market Size was valued at USD 794.5 million in 2022. The LNG Bunkering Market industry is projected to grow to USD 14,827.8 million by 2030, exhibiting a compound annual growth rate (CAGR) of 45.1% during the forecast period (2024 - 2030). During the forecast period, growth in global LNG consumption, demand for renewable energy, and its ability to reduce greenhouse gas emissions are anticipated to drive the market. In addition, the International Maritime Organization's (IMO) adoption of stricter regulations restricting sulfur oxide (SOx) emissions, which went into effect on January 1, 2020, is anticipated to boost the LNG bunkering market in North America. The increase in international maritime commerce, which has resulted in the development of sea trade routes, is anticipated to provide abundant opportunities for the LNG bunkering market.

“In October 2023, FueLNG successfully completed its 100th ship-to-ship LNG bunkering operation. The increasing emphasis on reducing the carbon footprint is playing a vital role in supporting the usage of LNG as a cleaner alternative. Rising technological advancements are contributing towards making LNG an economical option. The propelling demand for cleaner shipping solutions is positioning LNG bunkering a major step in the transition process towards a greener maritime sector.”


Global LNG Bunkering Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

LNG Bunkering Market Trends

  • Increasing demand in shipping industry

The market for LNG bunkering is expanding as a result of shipping firms' growing use of LNG as a marine fuel. The expansion of the ship sector has a big impact on the market for LNG bunkering. Since the vast majority of products are moved by water, the shipping sector is essential to global trade. The need for goods and raw resources from all over the world is always increasing, and the ship industry is crucial to supplying this need. The need for shipping is also being driven by the expansion of emerging markets and the global economy. Furthermore, the demand for goods and services will rise as long as the world's population continues to increase. A rise in trade and the requirement for more ships to transport products will result from this population growth. Services for LNG bunkering are more in demand as the marine industry expands. This is due to an increase in the number of ships being built with LNG-powered engines or being converted to use LNG as fuel. As a result, it is anticipated that the LNG bunkering market would expand with the ship sector. However, new LNG bunkering infrastructure is being created as a result of the expansion of the ship industry. This covers brand-new bunkering ships as well as LNG storage facilities and bunkering terminals. The LNG bunkering sector will mature and become more dependable as additional infrastructure is built.

  • Rising preference for seaborne trade

An additional element influencing the need for LNG bunkering in the marine sector is the growing preference for maritime commerce. The bulk of goods are moved by sea, making seaborne trade vital to the world economy. Demand for commodities and raw materials coming from other countries is rising along with the global population. This is fueling the expansion of the maritime sector, and as more ships are constructed and put into service, the need for fuel also rises. In order to cut their fuel costs and meet ever-stricter environmental standards, ship owners and operators are finding LNG to be an increasingly appealing option. Compared to conventional marine fuels, LNG burns more cleanly, allowing shipping operators to lower emissions and enhance air quality. Moreover, especially during periods of high oil prices, it is frequently less expensive than conventional marine fuels. LNG can also assist maritime businesses in adhering to emission laws like the IMO's worldwide sulphur cap. Ships that utilize LNG as a fuel can comply with these standards without the expense of elaborate exhaust gas cleaning systems because the sulphur content of LNG is far lower than that of conventional marine fuels. These reasons have led to an increase in the preference for shipping-based commerce, which is fueling the shipping sector's demand for LNG bunkering. This pattern is anticipated to persist as the world's population, the demand for goods, and the number of ships using LNG as a fuel increase.

  • High opportunity in emerging countries

Due to the rapid expansion of the shipping and port infrastructure, the rising demand for cleaner fuels, and the mounting regulatory pressure to decrease emissions, the LNG bunkering business in emerging nations has substantial prospects. An appealing substitute for conventional fossil fuels is LNG bunkering since it burns cleaner and emits far fewer greenhouse gases and air pollution. Additionally, there are a lot of commercial prospects in emerging markets due to their booming economies, expanding populations, and increased demand for goods and services. Many developing nations are enacting new laws to limit emissions from the maritime sector and to encourage the use of fuels with cleaner burn rates, including LNG. Due to increased commerce and economic activity, emerging nations are seeing tremendous growth in their shipping and port infrastructure. As more ships transition to cleaner-burning fuels, this presents an appealing market for LNG bunkering suppliers.

LNG Bunkering Market Segment Insights

LNG Bunkering by Vessel Type Insights

The global LNG Bunkering Market segmentation, based on Vessel Type has been segmented as Container Ships, Tankers, Bulk and General Cargo Vessel and Ferries and Offshore Support Vessel. Among these, the Tankers segment is projected to dominate the global LNG Bunkering market revenue through the projected period. The tankers category is the fastest growing in the market. Depending on tanker capacity, there are several tanker fleets such as small tankers, intermediate tankers, medium-range 1 (MR1), medium-range 2 (MR2), large range 1 (LR1), large range 2 (LR2), very large crude carriers (VLCC), and ultra-large crude carriers (ULCC). Bulk quantities of gases and liquids are stored or transported using tanker fleets. They are used to store and transport substances including vegetable oil, freshwater, wine, molasses, and chemicals as well as other goods.

LNG Bunkering by Product Insights

Based on Product, the global LNG Bunkering Market is segmented as Portable Tanks, Port to Ship, Ship to Ship and Truck Ship. Out of which the Ship to Ship segment dominated base year market and is also projected to dominate the global LNG Bunkering market revenue through the projected period. The category of ship-to-ship has the biggest market share for LNG bunkering, and it is anticipated that it will remain in this position for the duration of the forecast. This is because more ships are adopting LNG as a cleaner fuel to abide by strict government regulations aimed at lowering air pollution and protecting the environment.

LNG Bunkering Regional Insights

Based on Region, the LNG Bunkering market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Europe LNG Bunkering market held the maximum market share and is also expected to account for a significant revenue share during the forecast period. Europe's LNG bunkering market has grown significantly in recent years. This expansion can be ascribed to supportive government policies and an increase in LNG bunkering in the area because it is more environmentally friendly than other fuels. For instance, Gas LNG Europe (GLE) introduced the small-scale LNG map of Europe to aid interested market participants in getting a general overview of the upcoming and planned LNG infrastructure in the area.

LNG Bunkering Key Market Players & Competitive Insights

Key market players are emphasizing significantly on R&D for increasing their product offerings, which will further help the LNG Bunkering Market to grow considerably. Market players are adopting several business development strategies such as acquisitions, mergers, collaborations, and partnerships to enhance their market presence and acquire a larger customer base. To survive in the competitive market, industry players must provide cost effective products.

The LNG Bunkering market is very competitive with market players trying to develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment is likely to grow further owing to rising technological advancements. Some of the key players operating in the LNG Bunkering Market are Royal Dutch Shell plc.,Engie, Bomin Linde LNG GmbH & Co. KG, Gasum Ltd., Gasnor AS, Korea Gas Corporation, Harvey Gulf International Marine LLC, Polskie LNG S.A., Eagle LNG, ENN Energy Holdings Limited, EVOL LNG, Fjord Line, Crowley Maritime Corporation, SHV Energy, Gazpromneft Marine Bunker LLC. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

Engie: Engie is a European and world leader in low-carbon electricity production, centralized and decentralized energy networks, and associated services. The company relies on its key business lines (Renewables, Decentralized infrastructure, Client Solutions, Thermal Generation and Energy Supply) to offer its customers competitive, high value-added solutions that enable them to achieve their carbon-neutrality targets. Engie operates electricity power plants, natural gas terminals, and storage facilities in less than 30 countries.

Bomin Linde LNG GmbH & Co. KG: Bomin Linde LNG GmbH & Co. KG is a German company that specializes in the production, distribution, and storage of liquefied natural gas (LNG). The company was founded in 2012 as a joint venture between Linde AG, a leading industrial gases and engineering company, and Bomin, a global supplier of marine fuels. Bomin Linde LNG operates several LNG production plants in Germany, providing liquefaction and storage services for natural gas. The company also offers logistics and distribution services, including the transportation of LNG by road, rail, and sea. The company's primary focus is on supplying LNG to the shipping industry, which is increasingly turning to cleaner-burning fuels as a means of complying with international environmental regulations. Bomin Linde LNG's expertise in the safe and efficient handling of LNG has positioned it as a leading provider of LNG as a marine fuel.

Key Companies in the LNG Bunkering Market Includes:

  • Royal Dutch Shell plc.

  • Engie

  • Bomin Linde LNG GmbH & Co. KG

  • Gasum Ltd.

  • Gasnor AS

  • Korea Gas Corporation

  • Harvey Gulf International Marine LLC

  • Polskie LNG S.A.

  • Eagle LNG

  • ENN Energy Holdings Limited


  • Fjord Line

  • Crowley Maritime Corporation

  • SHV Energy

  • Gazpromneft Marine Bunker LLC

LNG Bunkering Industry Developments

February 2023: A new agreement about cooperation in the delivery of liquefied natural gas (LNG) to Rosmorport's new boats has been signed between FSUE Rosmorport and Gazpromneft Marine Bunker PJSC (operator of Gazprom Neft's marine bunkering business). According to the deal, Rosmorport's ferries operating on the Ust-Luga-Kaliningrad line will continue to receive environmentally friendly fuel from Gazpromneft Marine Bunker. According to Rosmorport, Gazpromneft Marine Bunker would provide 10,000 tonnes of fuel for more than 15 bunkering operations in 2023.

June 2022: The Royal Caribbean Group and Eagle LNG Partners LLC ("Eagle LNG") announced their partnership to provide liquefied natural gas (LNG) bunkering for the cruise line's LNG ships, including the first ship, Icon of the Seas, which will make its debut in 2023 and be the first ship in the Icon Class for the company's Royal Caribbean International brand. Eagle LNG will introduce a number of LNG ships that were specifically designed for maritime bunkering and gas transportation throughout the Caribbean.

LNG Bunkering Market Segmentation

LNG Bunkering Vessel Type Outlook

  • Container Ships

  • Tankers

  • Bulk and General Cargo Vessel

  • Ferries and Offshore Support Vessel

LNG Bunkering Product Outlook

  • Portable Tanks

  • Port to Ship

  • Ship to Ship

  • Truck Ship

LNG Bunkering Regional Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Russia

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Indonesia

    • Malaysia

    • Myanmar

    • Philippines

    • Singapore

    • Thailand

    • Vietnam

    • Rest of Asia-Pacific

  • South America

    • Brazil

    • Argentina

    • Rest of Latin America

    • Middle East & Africa

    • Saudi Arabia

    • UAE

    • South Africa

    • Egypt

    • Iran

    • Qatar

    • Rest of Middle East & Africa

Report Attribute/Metric Details
Market Size 2022 USD 794.5 million
Market Size 2030 USD 14,827.8 million
Compound Annual Growth Rate (CAGR) 45.1% (2024-2030)
Base Year 2023
Forecast Period 2024-2030
Historical Data 2018 & 2021
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Vessel Type, Product and Region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa and South America
Countries Covered US, Canada, Mexico, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, Brazil, Argentina, Saudi Arabia, UAE, South Africa, Egypt, Iran, Qatar
Key Companies Profiled Royal Dutch Shell plc., Engie, Bomin Linde LNG GmbH & Co. KG, Gasum Ltd., Gasnor AS, Korea Gas Corporation, Harvey Gulf International Marine LLC, Polskie LNG S.A., Eagle LNG, ENN Energy Holdings Limited, EVOL LNG, Fjord Line, Crowley Maritime Corporation, SHV Energy, Gazpromneft Marine Bunker LLC
Key Market Opportunities High opportunity in emerging countries
Key Market Dynamics Increasing demand in shipping industryRising preference for seaborne trade

Frequently Asked Questions (FAQ) :

LNG Bunkering Market size is US$ 794.5 Mn in 2022

Growth rate of the LNG Bunkering Market is 45.1% by 2030

Europe held the largest market share in the LNG Bunkering Market

Key players in the LNG Bunkering Market are: Royal Dutch Shell plc., Engie, Bomin Linde LNG GmbH & Co. KG, Gasum Ltd., Gasnor AS, Korea Gas Corporation, Harvey Gulf International Marine LLC, Polskie LNG S.A., Eagle LNG, ENN Energy Holdings Limited, EVOL LNG, Fjord Line, Crowley Maritime Corporation, SHV Energy, Gazpromneft Marine Bunker LLC

Tankers Vessel Type had the largest market share in the LNG Bunkering Market

Ship to Ship Product had the largest market share in the LNG Bunkering Market

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.