LNG Bunkering Market Overview

• LNG Bunkering market size has reached to $1.56 billion in 2024

• Expected to grow to $10.78 billion in 2029 at a compound annual growth rate (CAGR) of 46.6%

• Growth Driver: Rising Vessel Numbers Fueling Growth In LNG Bunkering Market

• Market Trend: CMA CGM And TotalEnergies Pioneer Ship-To-Containership LNG Bunkering In Marseilles

• Europe was the largest region in 2024.

What Is Covered Under LNG Bunkering Market?

LNG bunkering refers to the activity of supplying a ship with liquefied natural gas fuel for its consumption. The primary benefit of using LNG as a fuel is the significant pollution reduction caused by the more traditional methods of fueling ships, such as heavy fuel oil, marine gas oil (MGO), and marine diesel fuel (MDO).

The main types of LNG bunkering are ship-to-ship, terminal-to-ship, and truck-to-ship. Ship to ship refers to the transfer of crude oil, petroleum products, liquid bulk chemicals, and liquefied gas between sea-going tankers. Depending on the port restrictions, ships can carry out their operations while bunkering. They are used by various end-users such as defense vessels, yachts, cruise ships, ferries and OSVs, bulk and general cargo fleets, and other end-users.

What Is The LNG Bunkering Market Size 2025 And Growth Rate?

The LNG bunkering market size has grown exponentially in recent years. It will grow from $1.56 billion in 2024 to $2.33 billion in 2025 at a compound annual growth rate (CAGR) of 10.78%. The growth in the historic period can be attributed to an increase in gas exploration, an increase in maritime trade activities, strong economic growth in emerging markets, and growing imports and exports.

What’s The Trade War Impact On Transport Services Industry?

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the transport services sector by driving up costs for vehicles, spare parts, and fuel, key inputs often sourced from tariff-affected regions. Freight operators, logistics providers, and public transportation systems are facing squeezed profit margins as higher equipment and maintenance costs coincide with limited ability to pass on these expenses to customers due to competitive pressures. The uncertainty has also delayed fleet modernization and the adoption of greener, more efficient vehicles, slowing progress toward sustainability goals. To adapt, transport firms are optimizing route planning, investing in fuel efficiency technologies, renegotiating supplier contracts, and exploring collaborative logistics models to share costs and mitigate the impact of higher tariffs.

How Is The LNG Bunkering Market Segmented?

1) By Type: Ship To Ship, Terminal To Ship, Truck To Ship

2) By End-User: Defense Vessels, Yachts, Cruise Ships, Ferries And OSVs, Bulk And General Cargo Fleets, Other End-Users

Subsegments:

1) By Ship To Ship: Bunker Barges, LNG-Fueled Vessels

2) By Terminal To Ship: Shore-to-Ship Transfer Systems, Fixed Terminal Facilities

3) By Truck To Ship: Mobile Bunkering Units, LNG Transport Trucks

What Is Driving The LNG Bunkering Market? Rising Vessel Numbers Fueling Growth In LNG Bunkering Market

The increasing number of vessels and ships is expected to boost the growth of the LNG bunkering market going forward. A vessel is defined as anything that can float and be guided or propelled, either by itself or by external means. LNG bunkering vessels are used for ship-to-ship bunkering, contributing to the growing use of LNG as a maritime fuel. For instance, in February 2023, as per the report published by BIMCO (Baltic and International Maritime Council), a Denmark-based non-government organization, following a 4.0% increase in 2022, the container fleet is expected to increase by 6.3% in 2023 and 8.1% in 2024. Supply is predicted to increase by 11.3% in 2023 and 3.1% in 2024 as changes in congestion and sailing speed affect fleet productivity. Therefore, the increasing number of vessels and ships will drive the growth of the LNG bunkering industry in the future.

What Is Driving The LNG Bunkering Market? Surging Demand For LNG Fuel Propels Growth In LNG Bunkering Market

The increase in demand for LNG fuel is expected to boost the growth of the LNG bunkering market going forward. Liquified natural gas (LNG) is natural gas that has been cooled to a liquid state for the convenience of transportation. LNG bunkering is the technique of supplying a ship with liquefied natural gas fuel for its consumption. LNG offers major benefits such as sustainability and cost benefits. For example, in March 2023, as per the report published by the United States Energy Information Administration, a US federal statistical government agency, US liquefied natural gas exports averaged 12.1 billion cubic feet per day (Bcf/d), a 14% (1.5 Bcf/d) increase over last year. LNG exports from the United States will increase due to increasing worldwide demand as LNG continues to displace pipeline natural gas supplies from Russia to Europe. Therefore, the increase in demand for LNG fuel will drive the growth of the LNG bunkering industry in the future.

Who Are The Major Players In The Global LNG Bunkering Market?

Major companies operating in the LNG bunkering market include World Fuel Services, Crowley Maritime Corporation, SHV Energy, Engie SA, Gaz-System, Petrochina, ENN Energy Holdings Limited, Sinopec, Guanghui Energy Company Limited, Woodside Energy, Santos Ltd, Nauticor GmbH & Co. KG, Engas, Edison S.p.A, LNG Croatio LLC, Klaipedos Nafta AB, Blue Grid Gas & Power, Polskie LNG S.A, Eagle LNG Partners, Pivotal LNG Inc, FortisBC, NorthStar Holdco Energy LLC, Conrad Shipyards LLC, TOTO Maritime, Petrobras, Golar Power, YPF, Qatar Petroleum, ADNOC LNG, RasGas Company Limited, The Spanish Egyptian Gas Company, Damietta LNG Co, Petroliam Nasional Berhad, Sonatrach

What Are The Key Trends Of The Global LNG Bunkering Market? CMA CGM And TotalEnergies Pioneer Ship-To-Containership LNG Bunkering In Marseilles

Innovation is a key trend gaining popularity in the LNG bunkering market. Major market players are focusing on launching innovative operations to sustain their position in the LNG bunkering market such as ship-to-containership liquefied natural gas (LNG) bunkering. For instance, in January 2022, CMA CGM, a France-based shipping, and logistics firm, and TotalEnergies, a France-based integrated energy, and petroleum company launched Marseilles’ first ship-to-containership liquefied natural gas (LNG) bunkering operation. CMA CGM BALI, a 15, 000 TEU LNG-powered containership on the MEX 1 service connecting Asia and South Europe, was refueled with around 6, 000m3 of LNG by TotalEnergies' Gas Vitality, the first LNG bunker vessel based in France, via a ship-to-ship transfer alongside the Eurofos container terminal, while the containership carried out cargo operations simultaneously.

What Are The Key Trends Of The Global LNG Bunkering Market? Strategic Partnerships Fuel Advancements In LNG Bunkering Market

Strategic partnerships between companies are on the rise, especially in low- and middle-income countries. These partnerships seek to improve LNG fuel systems and enhance access to LNG bunkering to enable the reduction of greenhouse gas emissions. Major companies in the LNG bunkering market are focusing on strategic partnerships to strengthen their capabilities in the market. For example, in June 2022, CMA CGM Group, a France-based shipping and logistics company, and Shell PLC, a UK-based oil and gas company, agreed to accelerate decarbonizing the marine sector. These agreements include a multi-year liquefied natural gas (LNG) supply agreement for the supply of LNG in the Port of Singapore to CMA CGM’s 13,000 twenty-foot equivalent unit (TEU) vessels, starting in the second half of 2023. The two companies have signed a memorandum of understanding (MoU) encompassing the advancement of low-carbon marine fuels, such as LNG, liquid biofuels, and bio/e-methanol; the delivery of innovative technical solutions, including methane slip abatement technologies, LNG and hydrogen blending, and fuel cell technology development, and others. Further, in February 2021, Sumitomo Corporation, a Japan-based trading company, and Petronas, a Malaysia-based oil and gas company, agreed to jointly market and supply LNG bunker fuel in Tokyo Bay in Japan and Malaysia, leveraging off each other's LNG bunkering assets and infrastructure to meet the demand for cleaner marine fuels. Through this partnership, Sumitomo provides LNG bunkering and related services to Petronas' shipping customers at the ports located within Tokyo Bay, while Petronas will offer the same services to Sumitomo's customers at the ports of Johor and Malacca.

LNG Bunkering Market Merger And Acquisition: Seaside LNG Expands Operations With Acquisition Of LNG Bunker Barge

In February 2023, Seaside LNG, a US-based liquefied natural gas (LNG) production company, acquired an LNG Bunker Barge Clean Jacksonville from TOTE Maritime Puerto Rico for an undisclosed amount. This acquisition expand Seaside LNG's operational capabilities and enhance its position in the growing LNG market. The bunker barge is intended to facilitate the refueling of LNG-powered vessels, aligning with the industry's shift towards cleaner energy solutions. TOTE Maritime Puerto Rico is a US-based provider of LNG bunkering.

Regional Outlook For The Global LNG Bunkering Market

Europe was the largest region in the LNG bunkering market in 2024. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

What Defines the LNG Bunkering Market?

The LNG bunkering market includes revenues earned by entities by providing shore-to-ship and LNG-powered ships LNG bunkering services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What is the Market Assessment and Strategic Outlook for the LNG Bunkering Industry?

The lng bunkering market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the lng bunkering industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.