United States LNG Bunkering Market Size (2024 - 2029)

The United States LNG bunkering market is anticipated to experience significant growth, driven by the demand for infrastructure to meet stringent sulfur content regulations for conventional fuels. Despite challenges such as high initial development costs and competition from alternative fuels, the market is poised for expansion, particularly in the ferries and offshore support vessel segments. The increased production and lower natural gas prices have opened up new opportunities, contributing to the market's positive outlook during the forecast period.

Market Size of United States LNG Bunkering Industry

Market Summary
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

United States LNG Bunkering Market Major Players

*Disclaimer: Major Players sorted in no particular order

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.

US LNG Bunkering Industry Segmentation

The United States LNG bunkering market report includes:

End-User
Tanker Fleet
Container Fleet
Bulk and General Cargo Fleet
Ferries and OSV
Others
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United States LNG Bunkering Market Size Summary

The United States LNG bunkering market is poised for significant growth, driven by stringent regulations aimed at reducing sulfur emissions from conventional fuels. This shift is encouraging the development of LNG bunkering infrastructure across the country, despite challenges such as high initial costs and competition from alternative fuels. The market is expected to see substantial expansion, particularly in the ferries and offshore support vessel segments. The increased production and lower prices of natural gas have opened up new opportunities, positioning natural gas as a key driver of market growth. The market's expansion is further supported by the introduction of new emission standards from the International Maritime Organization, which are expected to bolster the adoption of LNG as a marine fuel.

Currently, LNG bunkering operations in the United States are concentrated in a few key locations, with Jacksonville, Florida, emerging as the leading hub. The port's facilities, developed by JAX LNG and Eagle LNG, are set to enhance Jacksonville's status as a significant LNG bunkering location, capable of servicing both domestic and international vessels. Other developments include proposed facilities in Tacoma, Washington, aimed at catering to vessels operating between Washington and Alaska. The market's growth is supported by the United States' substantial natural gas production, which offers a competitive advantage in LNG supply. Key industry players, including Harvey Gulf International Marine LLC and Royal Dutch Shell PLC, are actively involved in shaping the market landscape, leveraging the country's low production costs to meet the increasing demand for LNG in the shipping industry.

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United States LNG Bunkering Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 End-User

      1. 2.1.1 Tanker Fleet

      2. 2.1.2 Container Fleet

      3. 2.1.3 Bulk and General Cargo Fleet

      4. 2.1.4 Ferries and OSV

      5. 2.1.5 Others

United States LNG Bunkering Market Size FAQs

The United States LNG Bunkering Market is projected to register a CAGR of greater than 5.20% during the forecast period (2024-2029)

Harvey Gulf International Marine LLC , NorthStar Holdco Energy, LLC , Royal Dutch Shell PLC , Crowley Maritime Corporation and Conrad Shipyards LLC are the major companies operating in the United States LNG Bunkering Market.

US LNG Bunkering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)