Portland, OR -- (SBWire) -- 06/13/2018 --Liquefied natural gas is a colorless, odorless, and noncorrosive gas which is obtained by converting natural gas to the liquid form. The reason for conversion to LNG is that the transportation of natural gas is difficult. LNG takes up 1/1600th of the total volume of natural gas, when it is in its natural form. As the fuel is clean and emission-free, its consumption as a bunker fuel has increased. LNG bunkering is a preferable choice for shipping companies that operate in the Emission Control Areas (ECAs).
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Market Drivers and Restraints
The report highlights the drivers, restraints, growth indicators and other key aspects with respect to the global liquified natural gas market. The growing number of ports offering LNG bunkering facility is likely to drive the market growth. In addition, the falling prices of natural gas also provide a boost to the market, especially in the countries such as North America and Europe. On the other hand, the high production cost of cryogenic vessels used for transporting LNG may hinder the growth of the industry during the forecast period.
Market Segmentation:
By Vessel
Tankers
Container Ships
Ferries & Offshore Support Vessels
Bulk & General Cargo Vessels
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
The report identifies the prominent players who have been contributing significantly to the growth of the global liquified natural gas market. They include Royal Dutch Shell Plc, Korea Gas Corporation, Harvey Gulf International Marine LLC, GDF SUEZ SA, Gazpromneft Marine Bunker LLC, Bomin Linde LNG GmbH & Co. KG, Skangass AS, Gasnor AS, Hanjin Heavy Industries & Construction, and LNG Gorskaya LLC.
Key Takeaways from the Report
The report aims at answering various aspects of the global liquified natural gas market with the help of aspects such as market size, market share analysis, market trends, market dynamics, market classification, and company profiles. The charts, tables, and graphs further clarify the information provided in the study.
The study is a useful tool for industry experts, investors, market players, new entrants and others as it helps them take wise business decisions.
The research helps analyze the regions that are expected to witness the fastest growth during the forecast period.
The Porter's five forces analysis that comprises the bargaining power of buyers and suppliers, threat of substitutes, industry rivalry, and threat of new entrants, enables to understand the competitive landscape within the industry.
The study helps identify the recent developments, market shares and strategies employed by the major players operating in the industry.
The market forecast is based on the past and current trends of the LNG market.
The market segmentation helps determine which areas of the market are reaping the most benefits or earning profits so that stakeholders can focus on that particular segment for achieving growth.
Liquefied Natural Gas (LNG) Bunkering Market Drivers & Restraints, 2025
Global Liquefied Natural Gas (LNG) Bunkering Market is expected to grow at a CAGR of 18.5% from 2017 to 2025.