Global LNG Bunkering Market Growth 2019-2024 Research report provides Industry In-depth analysis, Key players profiles, business information, demands, trends, revenue, growth factor, industry size and Forecasts.
Pune, India – March 29, 2019 /MarketersMedia/ —
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4) that has been converted to liquid form for ease of storage or transport.
LNG is an attractive fuel choice for many vessels because it exceeds the air quality standards set forth. It takes up about 1/600th the volume of natural gas in the gaseous state. It is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia.
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The liquefaction process involves removal of certain components, such as dust, acid gases, helium, water, and heavy hydrocarbons, which could cause difficulty downstream. The natural gas is then condensed into a liquid at close to atmospheric pressure by cooling it to approximately -162 °C (-260 °F); maximum transport pressure is set at around 25 KPa (4 psi).
LNG Bunkering is a particular type of operation where LNG fuel is transferred from a given distribution source to a LNG fuelled ship. It involves the participation of different stakeholders, from the ship-side, LNG supplier, ports, safety personnel, administrations and policy makers. In this report, LNG bunkering only refers to LNG bunkering fuel.
The International Maritime Organization has established regulations on the fuel sulphur content of ship fuels and set mandatory NOx emission limits for new-build engines. These regulations are implemented through the IMO’s International Convention for the Prevention of Pollution from Ships (MARPOL). In addition to these engine and fuel requirements, certain areas have also been designated as emission control areas where stricter emissions limits are enforced. Besides air quality measures the IMO is also introducing instruments to monitor and reduce GHG emissions from shipping.
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The US EPA has implemented MARPOL Annex VI in its national legislation NOx and sulphur emission control areas The US EPA has also introduced a “Ports Initiative” to look at protecting human health, addressing climate change and supporting economic growth. The state of California has also adopted several state-specific regulations. The Clean Fuel Regulation for Ocean Going Vessels regulates the fuel sulphur content of ship fuels used by vessels within 24 nautical miles of the California coast. The At-Berth Regulation requires vessels to plug into shore power or use alternative controls to meet emission reduction requirements.
The European Union’s Fuel Sulphur Directive implements MARPOL Annex VI in EU legislation. Non-EU countries like Norway and Russia have likewise implemented Annex VI in national legislation. In addition, the EU is promoting the use of LNG as a ship fuel. To this end, an EU proposal on alternative fuel infrastructure aims to guarantee sufficient infrastructure in the form of LNG bunkering stations and terminals, while at the same time provide subsidies via the TEN-T fund to develop and further improve such infrastructure.
According to this study, over the next five years the LNG Bunkering Market will register a 65.2% CAGR in terms of revenue, the global market size will reach US$ 24400 million by 2024, from US$ 1200 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in LNG Bunkering business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of LNG Bunkering market by product type, application, key manufacturers and key regions and countries.
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This study considers the LNG Bunkering value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
– Truck-to-Ship
– Ship-to-Ship
– Port-to-Ship
– Others
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
– Container Vessels
– Tanker Vessels
– Bulk & General Cargo Vessels
– Ferries & OSV
– Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
– Americas (United States, Canada, Mexico, Brazil)
– APAC (China, Japan, Korea, Southeast Asia, India, Australia)
– Europe (Germany, France, UK, Italy, Russia, Spain)
– Middle East & Africa (Egypt, South Africa, Israel, Turkey, GCC Countries)
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
– Skangas
– Shell (Gasnor)
– Statoil
– Barents Naturgass
– Engie
– Bomin and Linde
– Eni Norge
– Harvey Gulf
– Polskie LNG
– Korea Gas Corp
– Gaz Metro
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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
– To study and analyze the global LNG Bunkering consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
– To understand the structure of LNG Bunkering market by identifying its various subsegments.
– Focuses on the key global LNG Bunkering manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
– To analyze the LNG Bunkering with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
– To project the consumption of LNG Bunkering submarkets, with respect to key regions (along with their respective key countries).
– To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
– To strategically profile the key players and comprehensively analyze their growth strategies.
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