The LNG Bunkering Market was valued at USD 1.52 Billion in 2024. The LNG Bunkering Market industry is projected to grow from USD 2.17 Billion in 2025 to USD 65.26 Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 45.88% during the forecast period (2025-2035).
The rise in import & export of LNG and rise in liquefication plants and bunkering vessels & terminals are driving the growth of the LNG Bunkering Market.
As per the Analyst at MRFR, at present, the US is the world’s largest producer of natural gas. The consumption of natural gas is about one third and is mostly used in generating electricity and in heating purposes. 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 into 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.
FIGURE 1: LNG BUNKERING MARKET VALUE (2019-2035) USD BILLION
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
LNG does not contain sulphur, which results in (almost) no Sox emissions and almost no PM emissions. In addition, because LNG has a higher hydrogen-to-carbon ratio in comparison to conventional fuels, the specific CO2 emissions are lower. It is possible to obtain different potential gains, both in terms of GHG and the emission of other relevant substances, depending on which source of information you use. It is therefore important to identify and understand the conditions and assumptions contributing to the mentioned environmental benefits.
The company for instance, Total Energies has always been closely involved in the whole natural gas and LNG supply chain, from extraction, transportation, liquefaction and shipping, to regasification, marketing and trading. Its balanced international footprint and recognized expertise across the entire LNG value chain has made them a global leader in LNG in the world. LNG is becoming an increasingly important component in the world gas market, defined by booming demand and boosted by abundant and well-spread reserves over the world. Global LNG bunkering demand is projected to rise from 0.4MT per annum (2017) to 10MT in 2025, which is why TotalEnergies is investing massively to boost its global presence. Company has put a strong emphasis on liquefied gas in their strategy.
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.
FIGURE 2: LNG BUNKERING MARKET SHARE BY PRODUCT TYPE 2024 AND 2035 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
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.
Based on the Region, the global LNG Bunkering is segmented into North America, Europe, Asia-Pacific, Latin America, 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.
FIGURE 3: LNG BUNKERING MARKET VALUE BY REGION 2024 AND 2035 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the countries considered in the scope of the Application Tracking System Market are the US, Canada, Mexico, Germany, France, the UK, Italy, Netherlands, Belgium, China, India, Japan, South Korea, Singapore, Malaysia, Brazil, Argentina, Morrocco, Egypt, Israel, Lebanon, Syria, Saudi Arabia, South Africa and others.
Many global, regional, and local vendors characterize the LNG Bunkering Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.
The major competitors in the market are TotalEnergies, Petronas, KOREA Gas Corporation, Wartsila, Wartsila, Trelleborg AB, Harvey Gulf International Marine, LLC, SHELL PLC, Gasum Oy, Chart Industries are among others. The LNG Bunkering Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.
14-November-2023: SHV Energy, through its new business unit Futuria Fuels, signed a partnership agreement for the international development of solutions for bio-LPG production routes. The collaboration, with Japanese partners Furukawa Electric Co., Ltd. and Astomos Energy Corporation, will focus on leveraging a proprietary process and catalysts to convert carbon dioxide and methane from livestock manure into millions of tons of renewable bio-LPG.
27-October-2022: Trelleborg Group finalized the acquisition of the US-based company, Minnesota Rubber & Plastics, for USD 950 million on a cash and debt free basis. The company was currently a strong and well-established company in North America operating in several fast-growing industries such as medical equipment, water management and food & beverage, as well as in several industrial applications. The company is a leading manufacturer of engineered polymer and thermoplastic components and a system provider for technically demanding applications.
Nov 28, 2022: Shell Petroleum NV, a wholly owned subsidiary of Shell plc (Shell), has reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension to acquire 100% shareholding of Nature Energy Biogas A/S (Nature Energy) for nearly USD $2 billion (€ 1.9 billion). The acquisition will be absorbed within Shell’s current capital range, which remains unchanged.
19-October-2020: Harvey Gulf Subsea Solutions announced the selection of Oceaneering International Inc for ROV and Support services onboard its four US Flagged Jones act compliant vessels. Under the agreement, Oceaneering shall provide eight Millennium Plus ROV systems, personnel and accompanying survey suites in a multi-year deal supporting Harvey Gulf Subsea as they move ahead with plans to become a bespoke solution provider for Gulf of Mexico.
| Report Attribute/Metric | Details |
| Market Size 2024 | USD 1.52 Billion |
| Market Size 2025 | USD 2.17 Billion |
| Market Size 2035 | USD 65.26 Billion |
| Compound Annual Growth Rate (CAGR) | 45.66% (2025-2035) |
| Base Year | 2024 |
| Forecast Period | 2025-2035 |
| Historical Data | 2019-2023 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, By Application |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Countries Covered | The US, Canada, Mexico, Germany, France, the UK, Italy, Netherlands, Belgium, China, India, Japan, South Korea, Singapore, Malaysia, Brazil, Argentina, Morrocco, Egypt, Israel, Lebanon, Syria, Saudi Arabia, South Africa |
| Key Companies Profiled | TotalEnergies, Petronas, KOREA Gas Corporation, Wartsila, Wartsila, Trelleborg AB, Harvey Gulf International Marine, LLC, SHELL PLC, Gasum Oy, Chart Industries are among others. The LNG Bunkering Market is a consolidated market due to increasing competition, acquisitions, mergers |
| Key Market Opportunities | ·        LNG as a cleaner alternative fuel for shipping |
| Key Market Dynamics | ·        Rise in import & export of LNG ·        Rise in liquefication plants and bunkering vessels & terminals |
LNG Bunkering Market Highlights:
Frequently Asked Questions (FAQ) :
USD 1.52 Billion is the LNG Bunkering Market in 2024
The Tanker Fleet segment by Application holds the largest market share and grows at a CAGR of 42.91% during the forecast period.
Europe holds the largest market share 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 are among others. The LNG Bunkering Market is a consolidated market due to increasing competition, acquisitions, mergers are the prominent players in the Global LNG Bunkering Market.
The Ship-to-Ship segment dominated the market in 2024.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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