
Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
CAGR | 8.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
LNG as a Fuel Market Analysis
The LNG as a Fuel Market is expected to register a CAGR of greater than 8% during the forecast period.
- There has been a significant shift in the transportation industry from conventional sources to a much cleaner and affordable sources, such as LNG, in recent years. In countries, such as China, the growth of LNG-based vehicles from 2012 to 2018 amounts to over 600%.
- Asia-Pacific is expected to be the fastest-growing market in the forecast period, mainly due to increased focus on a shift toward cleaner fuel for both energy generation and transportation.
- With worldwide increased focus on energy generation from cleaner fuels and increase in LNG based vehicles, the market is expected to grow in the forecasted period. The major market includes countries, such as the United States and China, etc.
LNG as a Fuel Market Trends
Transportation Application to Dominate the Market
- LNG use for transportation has shown significant growth in recent years and is expected to do so in the forecast period.
- There has been a significant rise in LNG based heavy-duty trucks in China, aiming at a reduction in greenhouse gas emissions. The number of LNG trucks rose from around 35,000 in 2012 to 235,000 in 2018 and LNG buses rose from around 14,000 in 2012 to 122,000 in 2018.
- EU has also been aiming at increasing its LNG based heavy-duty transportation system and have managed to get a growth of over 250% from 2016-2018.
- The strict regulations in response to climate change have put pressure on shipping vessels to choose LNG in-place oil. At the beginning of March 2018, there were more than 120 vessels burning LNG, with more than two-third operating in Europe.
- About 13 out of 73 cruise ships on order and to be delivered between 2017-2026 are LNG powered, with an increasing trend towards LNG powered ships.
- Hence, growing stricter regulation, government subsidies, and the aim toward reducing greenhouse gases are expected to drive the market in the forecast period.

Asia-Pacific to Dominate the Market
- The Asia-Pacific region has crossed its expected LNG import, with China importing three times the expected LNG in 2018.
- There has been a major increase in the use of LNG for power generation and transportation in the region, aiming at reducing greenhouse gas emissions.
- China's gas demand increased from around 240 BCM in 2017 to around 280 BCM, with a lot of demand coming from the industrial and transportation sectors.
- China, with its huge fleet of LNG powered buses and trucks, has been leading the LNG based transportation sector. In China 2,552 LNG fuel station was installed and 6.7 million metric ton of LNG was used in transportation in 2018.
- Therefore, with increasing investment in infrastructure development for LNG use in the region and increasing desire toward energy generation and transportation for being cleaner and cheaper, this region is expected to show growth in forecast period.

LNG as a Fuel Industry Overview
The LNG as a fuel market is moderately consolidated with some of the major companies holding a major share of the market. Some key players are Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell PLC, Total SA, BP PLC, and Petro China.
LNG as a Fuel Market Leaders
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Royal Dutch Shell Plc
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Total S.A.
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BP Plc
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Exxon Mobil Corporation
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Chevron Corporation
- *Disclaimer: Major Players sorted in no particular order

LNG as a Fuel Industry Segmentation
The LNG as a fuel market report include:
Application | Transportation | Market Overview | |
LNG as a Bunkering Fuel Demand Forecast, till 2025 | |||
Number of LNG-fired Ships in Operation and on Order, as of 2019 | |||
Major LNG Bunkering Facilities around the World, as of 2019 | |||
Power Generation | Market Overview | ||
Key LNG fired Power Generation Power Plants, as of 2019 | |||
Geography | North America | ||
Europe | |||
Asia-Pacific | |||
South America | |||
Middle-East and Africa |
LNG as a Fuel Market Research FAQs
What is the current LNG as a Fuel Market size?
The LNG as a Fuel Market is projected to register a CAGR of greater than 8% during the forecast period (2025-2030)
Who are the key players in LNG as a Fuel Market?
Royal Dutch Shell Plc, Total S.A., BP Plc, Exxon Mobil Corporation and Chevron Corporation are the major companies operating in the LNG as a Fuel Market.
Which is the fastest growing region in LNG as a Fuel Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in LNG as a Fuel Market?
In 2025, the Asia Pacific accounts for the largest market share in LNG as a Fuel Market.
What years does this LNG as a Fuel Market cover?
The report covers the LNG as a Fuel Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the LNG as a Fuel Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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LNG-as-a-Fuel Industry Report
Statistics for the 2025 LNG as a Fuel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. LNG as a Fuel 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.