Market Size of Europe LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe LNG Bunkering Market Analysis
The Europe LNG bunkering market is expected to register a CAGR of more than 5.25% throughout the forecast period.
The COVID-19 outbreak negatively impacted the market due to regional lockdowns. Currently, the market reached pre-pandemic levels.
- Stringent environmental regulations imposed by local government bodies and IMO to curb emissions, coupled with the abundant natural gas availability, are expected to stimulate the industry growth of the market studied.
- However, some countries lack of LNG bunkering infrastructure will likely hinder the market during the forecast period.
- The orders and deliveries of LNG-powered vessels are increasing, and the reduced natural gas prices marked the beginning of expanding opportunities for such vessels in the coming years.
- During the forecast period, Norway is expected to dominate the LNG bunkering market in Europe.
