India LNG Bunkering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by End-User (Tanker Fleet, Container Fleet, Bulk and General Cargo Fleet, Ferries and OSV, and Others)

Market Snapshot

Market Summary
Study Period: 2016 - 2026
Base Year: 2021
CAGR: >4.2 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

India's plans for LNG adoption for its marine vessels are on the fast track. LNG-fueled marine vessels and LNG refueling stations are likely to emerge in Indian waters within few years. The India LNG bunkering market is expected to grow at a CAGR of more than 4.2% over the forecast period of 2020-2025. Factors such as IMO sulfur cap regulation and the country’s commitment toward reducing greenhouse gas emission, and the rise in the country’s imports and exports, are expected to drive the adoption of LNG as a marine fuel in the market. However, the outbreak of the COVID-19 has negatively impacted the maritime imports and exports in the country and this, in turn, is likely to restrain the market in the coming years.

  • Ferries and OSV segment is expected to have significant growth in the India LNG bunkering market during the forecast period.
  • The declining cost of natural gas and expanding of the country's LNG bunkering infrastructure are likely to provide an opportunity for LNG trading and bunkering in the country in the near future.
  • Rise in the number of LNG bunkering facilities is expected to drive the India LNG bunkering market over the forecast period.

Scope of the Report

The India LNG bunkering market report includes:

End-User
Tanker Fleet
Container Fleet
Bulk and General Cargo Fleet
Ferries and OSV
Others

Report scope can be customized per your requirements. Click here.

Key Market Trends

Ferries and OSV Segment is Expected to Witness Significant Growth

  • Offshore vessels such as OSVs provide essential support and supplies to exploration & production activities away from shore. These include the supply of crew, equipment & machinery, freshwater, fuel, food, etc.
  • Offshore support vessel segment is expected to dominate the market, owing to it being relatively cost-effective in terms of offshore exploration and production activities. According to Baker Hughes, the India offshore rig count was 40 in May 2020.
  • With recovering oil prices and rising E&P activities, the future seems secure for offshore supply vessels on the demand side. Going by the number of offshore rigs, there will be an increasing demand for offshore supply vessels, as future exploration is going to be mainly in deep seas globally. However, in India, the share of shallow water fields production would remain substantially high.
  • Hence, the country is expected to have a positive demand for Ferries and OSV in the LNG bunkering market, during the forecast period.
India LNG Bunkering Market

Rise in LNG Bunkering Facilities to Drive the Market

  • The reason for rise in LNG bunkering infrastructure can be attributed to the expected increasing LNG bunkering services and preference for LNG over other fuels by ship makers. Furthermore, several ports in the country are looking to develop an LNG fueling infrastructure.
  • The rise in demand for natural gas in the country owing to the clean emission is also likely to boost up the use of LNG as a marine fuel in the shipping industry. The natural gas consumption was 59.7 billion cubic meters in 2019. The increasing consumption of natural gas is expected to drive the market further.
  • The country is expected to be among the regional hot spots for the LNG bunkering market in the coming years. India has an operational port in Kochi, which is operated by Petronet LNG.
  • An inland river cargo terminal to be built at Ghazipur in northern India is expected to have an LNG bunkering facility. The first phase of construction is expected to be completed by 2020.
  • Furthermore, another LNG bunker is proposed to be built at Dharamtar Creek near Mumbai, which is estimated to reduce transportation cost significantly for LNG powered vessels plying between Goa and Mumbai.
Consumption of Natural Gas, India LNG Bunkering Market

Competitive Landscape

The India LNG bunkering market is consolidated. Some of the key players in the market include Petronet LNG Ltd, H-Energy Private Limited, Bharat Petroleum Corp Ltd, Indian Oil Corporation Ltd, and Adani Enterprises Ltd.

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. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  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 PESTLE Analysis

  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

  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 Petronet LNG Ltd

      2. 6.3.2 Bharat Petroleum Corp Ltd

      3. 6.3.3 Adani Enterprises Ltd

      4. 6.3.4 H-Energy Private Limited

      5. 6.3.5 Indian Oil Corporation Ltd

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

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

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

The India LNG Bunkering Market is growing at a CAGR of >4.2% over the next 5 years.

Petronet LNG Ltd , Bharat Petroleum Corp Ltd , Adani Enterprises Ltd , H-Energy Private Limited , Indian Oil Corporation Ltd are the major companies operating in India LNG Bunkering Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!