Acknowledging the kind of traction gained by this market, recently published a study report asserts the global LNG As A Bunker Fuel Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 28.10 % during the review period (2022 to 2027).
LNG As A Bunker Fuel Market Overview
First, the LNG as a bunker fuel industry is concentrated around the ECA territories in the world, both in the supply and consumption market, especially in Northern Europe (Norway). These years, North America and East Asia have generally shown attention to the potential for LNG as bunker fuel, especially in South Korea Japan, and China.
Second, worldwide, the LNG-powered ships usually sail on the sea, but for China, it is mostly distributed on the river. China's government puts a lot of effort into LNG as a bunker fuel project since 2010, and now comes out with a few good results, but due to the higher conversion and new construction fees, belonging to the fledgling bunker fuel network system, now the LNG as a bunker fuel industry is still holding on for the large range development.
Who are the Major Players in LNG As A Bunker Fuel Market?
The LNG As A Bunker Fuel Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end-users. The three dependencies for the status of major companies in the market are company profile, profitable gross margin, the prices they charge. These are the main players in this market include Chantier Davie, General Dynamics NASSCO, VT Halter Marine, Gulf Coast Shipyard Group, Aker Philadelphia Shipyard, Ocean Tug & Barge Engineering, Fassmer Werft, Meyer Werft, Flensburger-Schiffbau-Gesellschaft, Meyer Turku, Arctech Helsinki, Fincantieri, Kleven Verft, STX France, Damen Shipyards Group, Hoogezand Nieuwbouw, Ferus Smit, GdanskRemontowa, Sanmar, Hyundai Heavy Industries, Jiangsu Dajin Heavy Industry, Wuhu Hongri Shipping company, Jiangsu Zhengjiang Shipyard, CSSC Guangzhou Huangpu Shipbuilding, Chongqing Jiangjin Feida, Jiangsu Qinfeng Chuanwu, Tsuji Heavy Industries, Jiangsu Jinyang Shipbuilding, Taizhou Jiangbei Zaochuanchang and Others.
Recent Development:
Canadian Coast Guard Icebreaker CCGs Vincent Massey Leaves Davie Drydock
LÉVIS, QC, - Davie Shipbuilding announced that CCGS Vincent Massey was floated out of the Champlain drydock today, representing another major milestone towards the commissioning of this medium class icebreaker (MIB) by Davie for the Canadian Coast Guard (CCG).
The final phase of the conversion work on CCGS Vincent Massey will be completed whilst alongside Davie’s Murphy’s Quay.
Canada’s icebreaker is expected to be delivered to the CCG in Q3 this year. The CCGS Vincent Massey will join its two sister vessels, CCGS Captain Molly Kool and CCGS Jean Goodwill which are already providing vital icebreaking services in Canada.
What are the major Applications, Types, and Regions for LNG As A Bunker Fuel Market?
By Type, it is segmented into
- Truck To Ship (TTS)
- Port To Ship (PTS)
- Ship To Ship (STS)
- Other
By Applications, it is segmented into
- Roll-on/ro-ro Ship
- Tugboat
- Coastal Tanker/Bulk Carrier
- Containership
- Platform Supply Vessel
- Smaller Passenger Ship
- Big Fishing Vessel
- Oher
LNG As A Bunker Fuel Market Regional Analysis
Among regions, Europe held dominant position in the global LNG as a bunker fuel market in 2020, accounting for 76.2% market share in terms of revenue, followed by North America.The World Ports Climate Initiative, regulations regarding sulfur content in fuel and nitrogen oxide (NOx) emissions are becoming stricter in the marine industry. Moreover, in April 2018, International Maritime Organization, operates as an agency within the United Nations, had set targets to cut the shipping sector's overall CO2 output by 50% by 2050. By using LNG as a fuel, CO2 emissions can be reduced as emission factor of LNG is only 2.75 (g/g of fuel), whereas emission factors of other conventional fuels such as HFO and MDO are 3.114 and 3.206 respectively.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Fincantieri Bay Shipbuilding of the United States began construction of the world's largest LNG bunkering barge in January 2022. The LNG bunkering barge will be a 126.8-meter vessel with a storage capacity of 12,000 m3 LNG. The project is planned to be completed by the end of 2023.
What is our LNG As A Bunker Fuel Market Report Scope?
Report Attributes
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Report Details
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Report Title
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LNG As A Bunker Fuel Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Cytec Solvay Group, DuPont, Honeywell International
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Forecast Period 2022 to 2027 CAGR
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CAGR of 28.10 % over the forecast period (2022-2027)
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By Type
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- Truck To Ship (TTS)
- Port To Ship (PTS)
- Ship To Ship (STS)
- Other
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By Application
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- Roll-on/ro-ro Ship
- Tugboat
- Coastal Tanker/Bulk Carrier
- Containership
- Platform Supply Vessel
- Smaller Passenger Ship
- Big Fishing Vessel
- Oher
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By Companies
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Chantier Davie, General Dynamics NASSCO, VT Halter Marine, Gulf Coast Shipyard Group, Aker Philadelphia Shipyard, Ocean Tug & Barge Engineering, Fassmer Werft, Meyer Werft, Flensburger-Schiffbau-Gesellschaft, Meyer Turku, Arctech Helsinki, Fincantieri, Kleven Verft, STX France, Damen Shipyards Group, Hoogezand Nieuwbouw, Ferus Smit, GdanskRemontowa, Sanmar, Hyundai Heavy Industries, Jiangsu Dajin Heavy Industry, Wuhu Hongri Shipping company, Jiangsu Zhengjiang Shipyard, CSSC Guangzhou Huangpu Shipbuilding, Chongqing Jiangjin Feida, Jiangsu Qinfeng Chuanwu, Tsuji Heavy Industries, Jiangsu Jinyang Shipbuilding, Taizhou Jiangbei Zaochuanchang
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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182
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this LNG As A Bunker Fuel Report
- Evaluate LNG As A Bunker Fuel market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the LNG As A Bunker Fuel market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
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Who are the key players in LNG As A Bunker Fuel Market?
Chantier Davie, General Dynamics NASSCO, VT Halter Marine, Gulf Coast Shipyard Group, Aker Philadelphia Shipyard, Ocean Tug & Barge Engineering, Fassmer Werft, Meyer Werft, Flensburger-Schiffbau-Gesellschaft, Meyer Turku, Arctech Helsinki, Fincantieri, Kleven Verft, STX France, Damen Shipyards Group, Hoogezand Nieuwbouw, Ferus Smit, GdanskRemontowa, Sanmar, Hyundai Heavy Industries, Jiangsu Dajin Heavy Industry, Wuhu Hongri Shipping company, Jiangsu Zhengjiang Shipyard, CSSC Guangzhou Huangpu Shipbuilding, Chongqing Jiangjin Feida, Jiangsu Qinfeng Chuanwu, Tsuji Heavy Industries, Jiangsu Jinyang Shipbuilding, Taizhou Jiangbei Zaochuanchang
What regions does this LNG As A Bunker Fuel Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of LNG As A Bunker Fuel Market?
Truck To Ship (TTS), Port To Ship (PTS), Ship To Ship (STS), Others
What are the major end-use applications of the LNG As A Bunker Fuel Market?
Roll-on/ro-ro Ship, Tugboat, Coastal Tanker/Bulk Carrier, Containership, Platform Supply Vessel, Smaller Passenger Ship, Big Fishing Vessel, Oher
All our reports are custom made to your company's needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
