The LNG shipping market is projected to experience an 8.5 % annual annual growth rate by 2026 . In 2017 the market was worth about $ 500 m , with cumulative revenue between 2017- 2021 predicted to reach $ 3.4bn , rising notably toward the end of that five - year period , according to a report by Marketresearch . LNG ships are set to feature predominantly in the worldwide fossil fuel market as their reduced carbon dioxide emissions of 25 % , and almost zero sulphur oxide emissions , makes them increasingly attractive with the latest 2020 regulations . Demand in Europe is especially strong , with shipping companies favouring LNG over high - sulphur fuels .
The LNG bunker market is projected to experience an 8.5% compounded annual growth rate by 2026. In 2017 the market was valued about $550m, with cumulative revenue between 2017- 2021 predicted to reach $3.4bn, rising notably toward the end of that five-year period, according to a report by Marketresearch. LNG ships are set to feature predominantly in the worldwide bunker fuel market as their reduced carbon dioxide emissions of 25%, and almost zero sulphur oxide emissions, make them increasingly attractive with the IMO 2020 regulations. Demand in Europe is especially strong, with shipping companies favouring LNG over high-sulphur fuels.