The LNG bunker market is projected to experience an 25% 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 8.5%, 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.
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.