Market Size of Asia-Pacific LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC LNG Bunkering Market Analysis
Bunkering is the process of transferring fuel to a vessel or a facility in the form of conventional marine fuels or LNG. As a cleaner and greener fuel, LNG can contribute to IMO's 2050 target of reducing greenhouse gas emissions (GHG). The Asia-Pacific LNG bunkering market is expected to grow at a CAGR of more than 4.9% over the forecast period. Factors such as shifting trends towards clean energy coupled with stringent government regulations to minimize airborne emissions including sulfur and nitrous oxide are driving the market. However, the slower growth of marine industry is likely to restrain the market.
- Ferries and OSV segment is expected to hold largest share in the Asia-Pacific LNG bunkering market during the forecast period.
- Declining cost of natural gas and upcoming investments in LNG bunkering infrastructure by the market players, owing to stringent government policies are expected to create potential opportunities in the target market over the forecast period.
- China is expected to dominate in the Asia-Pacific LNG bunkering market over the forecast period.
