Market Size of United States LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US LNG Bunkering Market Analysis
LNG bunkering is the practice of providing liquefied natural gas fuel to a ship for its own consumption. The United States LNG bunkering market is expected to grow at a CAGR of more than 5.2% over the forecast period. The strict norms to restrict the sulfur content produced by conventional fuels are driving the demand for LNG bunkering infrastructure in the United States. However, high initial infrastructure development costs and competition from alternative fuels are likely to restrain the market for the LNG bunkering in the country.
- Ferries and OSV segment is expected to dominate in the United States LNG bunkering market over the forecast period.
- The increased production and the reduced natural gas prices in 2019 had marked the beginning of expanding opportunities for the market in the coming years.
- The growth of natural gas is expected to drive the United States LNG bunkering market during the forecast period.
