Market Size of Middle-East and Africa LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.65 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA LNG Bunkering Market Analysis
The Middle-East and Africa LNG bunkering market is expected to grow at a CAGR of more than 4.65% over the period of 2020-2025. Stringent environmental regulations to curb emissions coupled with the abundant availability of natural gas is expected to stimulate industry growth. Also, increasing focus to maintain fossil fuel sustainability along with rising concerns to minimize environmental impact are some of the driving factors for the LNG bunkering market in the region. Moreover, reducing the sulfur content from conventional fuel is capital intensive, which is likely to hamper the market studied.
- As of 2019, the tanker fleet has accounted for the largest market share and is expected to continue the same trend during the forecast period.
- Implementation of LNG bunkering activities also provides a great opportunity for the Middle-East and Africa regional LNG bunkering operator companies to serve the inbound European ships, which have strict environmental regulation norms to follow.
- The United Arab Emirates has been one of the major emerging countries in the implementation of LNG bunkering activities in the Middle-East and African region during the forecast period.
