LNG Bunkering Market to Witness High Growth Owing to Stringent Emission Norms
The LNG bunkering market comprises liquefied natural gas (LNG) that is specifically produced for use as fuel for ships and containers. LNG is a cleaner alternative fuel to bunker oil and marine diesel oil and helps reduce emissions including sulfur oxides (SOx), nitrogen oxides (NOx) and particulate matters. It has the advantages of being cost effective, more environment friendly and readily available. With increasing global trade and seaborne freight, the demand from shipping industry for cleaner fuel is growing rapidly. The Global LNG bunkering market is estimated to be valued at US$ 806.2 Mn in 2024 and is expected to exhibit a CAGR of 36% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the LNG bunkering market are Royal Dutch Shell Plc., Skangas, ENN Energy, Korea Gas Corporation, Prima LNG, Harvey Gulf International Marine LLC, Bomin Linde LNG GmbH & Co KG, Fjord Line, Crowley Maritime Corporation, and Polskie LNG. The companies are investing