Market Size of China LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China LNG Bunkering Market Analysis
China is one of the major emerging markets in LNG bunkering. The country is already the second-largest LNG importer in the world. The China LNG bunkering market is expected to grow at a CAGR of more than 5.9% over the forecast period. The prime factor, such as the IMO sulfur cap regulation and the country's commitment toward reducing greenhouse gas emission is expected to drive the adoption of LNG as a marine fuel in the market. However, the significant decline in traffic as a result of the US-China trade war which affects adversely on import and export values of the country is likely to restrain the LNG bunkering market over the forecast period.
- Ferries and OSV segment is expected to dominate in the China LNG bunkering market during the forecast period.
- Generating new demand for LNG, including overseas LNG value chain investments is likely to provide an opportunity for LNG bunkering in the country over the forecast period.
- Increasing demand for natural gas is expected to drive the China LNG bunkering market over the forecast period.
