Europe LNG Bunkering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by End-User (Tanker Fleet, Container Fleet, Bulk and General Cargo Fleet, Ferries and OSV, and Others), and Geography ( Norway, Spain, Netherlands, United Kingdom, and Rest of Europe)

Market Snapshot

Europe LNG Bunkering Market : Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >5.25 %

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Market Overview

The Europe LNG bunkering market is expected to grow at a CAGR of more than 5.25% over the period of 2020-2025. Stringent environmental regulations imposed by local government bodies and IMO to curb emissions coupled with the abundant availability of natural gas is expected to stimulate the industry growth of the market studied. However, the lack of LNG bunkering infrastructure in some countries, and the effect of COVID-19 are likely to have a negative impact on the demand for LNG bunkering activities in the region during the forecast period.

  • Ferries & OSV end-user dominate the European LNG bunkering market during the forecast period.
  • The orders and deliveries of LNG-powered vessels are increasing, and the reduced natural gas prices in 2020 had marked the beginning of expanding opportunities for such vessels in the coming years.
  • Norway is expected to dominate the LNG bunkering market in Europe during the forecast period.

Scope of the Report

The Europe LNG bunkering market report includes:

End-User
Tanker Fleet
Container Fleet
Bulk and General Cargo Fleet
Ferries and OSV
Others
Geography
Norway
Spain
Netherlands
United Kingdom
Rest of Europe

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Key Market Trends

Ferries & OSV Segment to Dominate the Market

  • Ferries are vessels used to carry cargoes across the water. A passenger ferry is used as a water bus or water taxi to travel from one place to another. Various types of ferries include double-ended, hydrofoil, hovercraft, catamaran, roll-on/ roll-off, cruise ferry (RoPax), fast RoPax ferry, and others.
  • These vessels majorly operate on heavy fuel oil and marine gas oil. However, government regulations regarding emission of sulfur, carbon dioxide, and other pollutants have been encouraging the use of LNG as fuel in the vessels.
  • In the next five years, the LNG based ferries and OSVs are projected to increase, considering a large number of LNG fueled ferries and OSVs on order. This is likely to increase the demand for LNG bunkering services in the forecast period.
  • However, with the regulations related to sulfur content in the fuel, The option of using LNG as a fuel is attractive to these types of the vessel because of the operating profile as well as for economic, regulatory, and environmental reasons.
Europe LNG Bunkering Market : Revenue Share in %, by End-User, 2019

Norway to Dominate the Market

  • Norway has always been a pioneer country in the global LNG bunkering market. In 2000, the world’s first LNG-fueled vessels, the Glutra car and passenger ferry were made operational in Norway. Seventeen years later, in 2017, Hammerfest, Europe's largest dedicated LNG bunkering station with 1250 m3 storage and a pump capacity of 90 ton/hour was made operational in Norway.
  • The focus on climate issues remains high in Norway with the Norwegian government setting ambitious and stern emission norms to align itself with the greenhouse gas emissions targets of the Paris agreement and within the EU emission standards.
  • To counter the increasing global concerns regarding the harmful emission of pollutants from marine transportation, Norway invested early in LNG ships and was helped by the Norwegian NOx fund, which was initiated by the Norwegian government.
  • Moreover, LNG exports from Norway have been increasing in the past years, with the expansion of existing LNG liquefaction facilities, which is expected to bolster the market.
  • Hence, This has significantly increased the demand for LNG bunkering facilities in Norway during the forecast period.
Norway LNG Export in Billion cubic metres, 2015 - 2019

Competitive Landscape

The Europe LNG bunkering market is moderately consolidated. Some of the major players in this market include Royal Dutch Shell Plc, Total SA, Crowley Maritime Corporation, Nauticor GmbH & Co. KG, and Gazpromneft Marine Bunker LLC.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 End-User

      1. 5.1.1 Tanker Fleet

      2. 5.1.2 Container Fleet

      3. 5.1.3 Bulk and General Cargo Fleet

      4. 5.1.4 Ferries and OSV

      5. 5.1.5 Others

    2. 5.2 Geography

      1. 5.2.1 Norway

      2. 5.2.2 Spain

      3. 5.2.3 Netherlands

      4. 5.2.4 United Kingdom

      5. 5.2.5 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Royal Dutch Shell Plc

      2. 6.3.2 Total SA

      3. 6.3.3 Crowley Maritime Corporation

      4. 6.3.4 Nauticor GmbH & Co. KG

      5. 6.3.5 Harvey Gulf International Marine LLC

      6. 6.3.6 ENN Energy Holdings Ltd

      7. 6.3.7 Engie SA

      8. 6.3.8 Gazpromneft Marine Bunker LLC

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Europe LNG Bunkering Market market is studied from 2016 - 2026.

The Europe LNG Bunkering Market is growing at a CAGR of >5.25% over the next 5 years.

Total SA, Crowley Maritime Corporation, Nauticor GmbH & Co. KG, Gazpromneft Marine Bunker LLC, Royal Dutch Shell Plc are the major companies operating in Europe LNG Bunkering Market.

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