LNG bunkering global market worth billions by 2027
Published by Lydia Woellwarth,
The ‘LNG Bunkering - Global Market Trajectory & Analytics’ report has been added to ResearchAndMarkets.com's offering. Amid the COVID-19 crisis, the global market for LNG bunkering, estimated at US$761.3 million in the year 2020, is projected to reach a revised size of US$4.9 billion by 2027, growing at a CAGR of 30.3% over the analysis period 2020 - 2027.
Ferry & Ro-Ro, one of the segments analysed in the report, is projected to grow at a 28.6% CAGR to reach US$1.9 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Tanker segment is readjusted to a revised 30.3% CAGR for the next 7-year period. This segment currently accounts for a 22.9% share of the global LNG bunkering market.
The US accounts for over 26.9% of global market size in 2020, while China is forecast to grow at a 37.3% CAGR for the period of 2020 - 2027
The LNG bunkering market in the US is estimated at US$204.4 million in the year 2020. The country currently accounts for a 26.85% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.2 billion in the year 2027 trailing a CAGR of 37.3% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.3% and 27.5% respectively over the 2020 - 2027 period. Within Europe, Germany is forecast to grow at approximately 25.9% CAGR while Rest of European market (as defined in the study) will reach US$1.2 billion by the year 2027.
Container segment corners a 21.3% share in 2020
In the global Container segment, US, Canada, Japan, China and Europe will drive the 31.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$121.9 million in the year 2020 will reach a projected size of US$847.6 million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$767.6 million by the year 2027, while Latin America will expand at a 34.3% CAGR through the analysis period.
The 202-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others: ENGIE Group, ENN Energy Holdings Limited, Gazprom Neft PJSC, Harvey Gulf International Marine LLC, Korea Gas Corp., Naturg, Nauticor GmbH & Co. KG, Royal Dutch Shell PLC, Skangas, Total SA. Total companies profiled: 58.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13072020/lng-bunkering-global-market-worth-billions-by-2027/
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