Market Size of South America LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America LNG Bunkering Market Analysis
The South America LNG bunkering market is expected to grow at a CAGR of more than 2% over the forecast period.
The market was negatively impacted by the Covid-19 pandemic, as demand for LNG bunkering services fell as marine shipping and trade declined significantly. However, the market has since rebounded and is expected to grow steadily during the forecast period.
- Over the long term, factors such as rising investments in LNG bunkering infrastructure and facilities are expected to drive the market during the forecast period.
- On the flip side, the increasing adoption of alternative low-sulfur fuels such as Marine Gas Oil (MGO) and Low-Sulfur Fuel Oil (LSFO) is expected to restrain the market during the forecast period.
- Nevertheless, rising investments in small-scale LNG infrastructure are expected to provide a significant opportunity for the market beyond the forecast period.
