Market Size of Asia-Pacific LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC LNG Bunkering Market Analysis
Bunkering is the process of transferring fuel to a vessel or a facility in the form of conventional marine fuels or LNG. As a cleaner and greener fuel, LNG can contribute to IMO's 2050 target of reducing greenhouse gas emissions (GHG). The Asia-Pacific LNG bunkering market is expected to grow at a CAGR of more than 4.9% over the forecast period. Factors such as shifting trends towards clean energy coupled with stringent government regulations to minimize airborne emissions including sulfur and nitrous oxide are driving the market. However, the slower growth of marine industry is likely to restrain the market.
- Ferries and OSV segment is expected to hold largest share in the Asia-Pacific LNG bunkering market during the forecast period.
- Declining cost of natural gas and upcoming investments in LNG bunkering infrastructure by the market players, owing to stringent government policies are expected to create potential opportunities in the target market over the forecast period.
- China is expected to dominate in the Asia-Pacific LNG bunkering market over the forecast period.
APAC LNG Bunkering Industry Segmentation
The Asia-Pacific LNG bunkering market report includes:
| End-User | |
| Tanker Fleet | |
| Container Fleet | |
| Bulk and General Cargo Fleet | |
| Ferries and OSV | |
| Others |
| Geography | |
| India | |
| China | |
| Japan | |
| Rest of Asia-Pacific |
Asia-Pacific LNG Bunkering Market Size Summary
The Asia-Pacific LNG bunkering market is poised for significant growth, driven by the increasing shift towards cleaner energy sources and stringent government regulations aimed at reducing airborne emissions. As LNG emerges as a more environmentally friendly alternative to conventional marine fuels, it aligns with the International Maritime Organization's targets for reducing greenhouse gas emissions by 2050. The market is expected to experience a steady expansion, with the ferries and offshore support vessel segments anticipated to capture the largest shares. The declining cost of natural gas and forthcoming investments in LNG bunkering infrastructure are set to create substantial opportunities, despite potential constraints from the slower growth of the marine industry.
China is projected to lead the Asia-Pacific LNG bunkering market, supported by its robust demand for natural gas and ongoing investments in LNG infrastructure. The country's coal-to-gas conversion policies and industrial recovery have spurred increased gas consumption, necessitating the import of LNG to meet demand. The development of LNG bunkering facilities in major ports like Hong Kong and Shanghai further underscores the region's growth potential. The market is moderately consolidated, with key players such as Central LNG Marine Fuel Japan Corporation, ENN Energy Holdings Ltd, and Mitsui OSK Lines Ltd playing pivotal roles in shaping the industry's landscape.
Asia-Pacific LNG Bunkering Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Force Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 End-User
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2.1.1 Tanker Fleet
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2.1.2 Container Fleet
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2.1.3 Bulk and General Cargo Fleet
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2.1.4 Ferries and OSV
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2.1.5 Others
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2.2 Geography
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2.2.1 India
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2.2.2 China
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2.2.3 Japan
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2.2.4 Rest of Asia-Pacific
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Asia-Pacific LNG Bunkering Market Size FAQs
What is the current Asia-Pacific LNG Bunkering Market size?
The Asia-Pacific LNG Bunkering Market is projected to register a CAGR of greater than 4.90% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific LNG Bunkering Market?
Central LNG Marine Fuel Japan Corporation , ENN Energy Holdings Ltd, Mitsui OSK Lines Ltd , Sembcorp Marine Ltd and Toyota Tsusho Corp are the major companies operating in the Asia-Pacific LNG Bunkering Market.
