LNG Bunkering Market, By Product Type (Portable Tanks, Ship-to-Ship, Port-to-Ship, and Truck-to-Ship), By Application (Container Fleet, Tanker Fleet, Cargo Fleet, Ferries, Inland Vessels, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024

Code : CMI1085

Pages :104

Formats :

Excel and PDF

Industry : Energy

Challenges: Huge capital investments and the technology for LNG bunkering

The global LNG bunkering market faces several technological and infrastructure challenges. Setting up an LNG bunkering infrastructure requires huge capital investments and the technology for LNG bunkering is still evolving. Developing small-scale liquefaction facilities is a major challenge. Safety concerns related to the highly flammable nature of LNG is another roadblock for the widespread adoption of LNG as a bunker fuel.

Opportunities: Growing focus on reducing emissions and shifting towards cleaner marine fuels

There are significant opportunities for the growth of the LNG bunkering market. With growing focus on reducing emissions and shifting towards cleaner marine fuels, the demand for LNG as a bunker fuel is expected to increase substantially in the coming years. The International Maritime Organization's stricter emission norms will further drive ships to switch to LNG. Both port authorities and market players are making efforts to develop the necessary infrastructure & promote the use of LNG. This presents lucrative business opportunities for vendors.