| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 4.20% |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India LNG Bunkering Market Analysis by Mordor Intelligence
The India LNG Bunkering Market is expected to register a CAGR of greater than 4.2% during the forecast period.
- 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.
India LNG Bunkering Market Trends and Insights
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.
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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.
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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.
India LNG Bunkering Industry Leaders
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Petronet LNG Ltd
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Bharat Petroleum Corp Ltd
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Adani Enterprises Ltd
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H-Energy Private Limited
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Indian Oil Corporation Ltd
- *Disclaimer: Major Players sorted in no particular order
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India LNG Bunkering Market Report Scope
The India LNG bunkering market report includes:
End-User
| Tanker Fleet |
| Container Fleet |
| Bulk and General Cargo Fleet |
| Ferries and OSV |
| Others |
| End-User | Tanker Fleet |
| Container Fleet | |
| Bulk and General Cargo Fleet | |
| Ferries and OSV | |
| Others |
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Key Questions Answered in the Report
What is the current India LNG Bunkering Market size?
The India LNG Bunkering Market is projected to register a CAGR of greater than 4.2% during the forecast period (2025-2030)
Who are the key players in India LNG Bunkering Market?
Petronet LNG Ltd, Bharat Petroleum Corp Ltd, Adani Enterprises Ltd, H-Energy Private Limited and Indian Oil Corporation Ltd are the major companies operating in the India LNG Bunkering Market.
What years does this India LNG Bunkering Market cover?
The report covers the India LNG Bunkering Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India LNG Bunkering Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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India LNG Bunkering Market Report
Statistics for the 2025 India LNG Bunkering market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India LNG Bunkering analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
