LNG Bunkering Market in Europe by End-user and Geography - Forecast and Analysis 2022-2026

Published: Jan 2022 Pages: 120 SKU: IRTNTR72123

The LNG bunkering market share in Europe share is expected to increase by USD 441.45 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 17.41%.

This LNG bunkering market in Europe research report extensively covers the LNG bunkering market in Europe segmentation by end-user (tanker, ferry and ro-ro, container, and others) and geography (Norway, The Netherlands, Denmark, and Rest of Europe). The LNG bunkering market in Europe report also offers information on several market vendors, including Broadview Energy Solutions B.V., Crowley Maritime Corp., Equinor ASA, Exxon Mobil Corp., Fjord Line AS, Petroliam Nasional Berhad, PJSC Gazprom Neft, Royal Dutch Shell Plc, SHV Energy, and TotalEnergies SE among others.

What will the LNG Bunkering Market Size in Europe be During the Forecast Period?

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LNG Bunkering Market in Europe: Key Drivers, Trends, and Challenges

The growing marine logistics businesses is notably driving the LNG bunkering market growth in Europe, although factors such as high capital requirements of using LNG as a marine fuel may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the LNG bunkering industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key LNG Bunkering Market Driver in Europe

The growing marine logistics business is one of the key drivers supporting the LNG bunkering market growth in Europe. The increase in the availability of shipping data and the application of big data analytics have provided shippers the greater visibility of the market and pricing trends and allowed them to choose optimal routes, fuel consumption, weather conditions, and avoid piracy risks. This has helped to minimize the dramatic boom and bust cycles, which traditionally plagued the shipping industry, and transformed challenges into opportunities. Hence, technological advances have further boosted the growth potential of the shipping industry. Growth in marine logistics businesses, coupled with government regulations, will boost the LNG bunkering market in Europe during the forecast period.

Key LNG Bunkering Market Trend in Europe

The increase in demand for cleaner fuels is another factor supporting the LNG bunkering market growth. The majority of greenhouse gas (GHG) emissions from the transportation sector include CO2 emanating from the combustion of petroleum-based products such as gasoline. Also, the majority of marine fuel has 1,666.67 times more sulfur content when compared with that of on-road diesel and gasoline. High sulfur content in fuel has contributed significantly to local air pollution, thus causing related health issues. There has been a significant contribution to air pollution from the transportation sector. This has created a need for cleaner fuels to curb pollution. Hence, the demand for cleaner fuel is expected to propel the growth of the LNG bunkering market in Europe during the forecast period.

Key LNG Bunkering Market Challenge in Europe 

The high capital requirements of using LNG as a marine fuel is hindering the LNG bunkering market growth. The construction of a dual-fueled vessel costs around one-fifth times more than constructing a conventionally fueled ship, owing to the need to install LNG tanks, which are 250% larger in size than HFO tanks. Retrofitting is expensive, as existing ships require space to install much larger fuel tanks. Moreover, it involves educational and technological adaptation costs for shipowners. The use of low-sulfur-content fuel will entail high fuel costs. Meanwhile, LNG storage and requisite safety arrangements result in an increase in operational costs. Fuel costs represent more than 50% of the overall operation cost of a container ship. Hence, the use of LNG as marine fuel might result in high capital and operational costs, thus limiting the growth of the LNG bunkering market in Europe during the forecast period.

This LNG bunkering market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the LNG bunkering market as a part of the global oil and gas storage and transportation market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the LNG bunkering market in Europe during the forecast period.

Who are the Major LNG Bunkering Market Vendors in Europe?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Broadview Energy Solutions B.V.
  • Crowley Maritime Corp.
  • Equinor ASA
  • Exxon Mobil Corp.
  • Fjord Line AS
  • Petroliam Nasional Berhad
  • PJSC Gazprom Neft
  • Royal Dutch Shell Plc
  • SHV Energy
  • TotalEnergies SE

 

This statistical study of the LNG bunkering market in Europe encompasses successful business strategies deployed by the key vendors. The LNG bunkering market in Europe is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Equinor ASA - The company offers solutions for LNG bunkering for ships and ferries which can be transported and stored for later purposes' under the brand name of Equinor.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The LNG bunkering market in Europe forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

LNG Bunkering Market in Europe Value Chain Analysis

Our report provides extensive information on the value chain analysis for the LNG bunkering market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for LNG Bunkering Market in Europe?

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71% of the market's growth will originate from Norway during the forecast period. The market growth in Norway will be faster than the growth of the market in Rest of Europe.

The decline in domestic natural gas production in European countries, with the exception of Russia, will facilitate the LNG bunkering market in Europe growth in Norway over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the LNG market in Norway witnessed certain challenges due to the outbreak of COVID-19. Norway was severely affected by the pandemic and witnessed a significant number of fatalities in the first half of 2020. However, Norway vaccinated its population with the newly developed COVID-19 vaccines and removed the restrictions, which resulted in a gradual rise in economic activities and resumed import and export activities. Thus, such factors may drive the market growth during the forecast period.

What are the Revenue-generating End-user Segments in the LNG Bunkering Market in Europe?

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The LNG bunkering market share growth in Europe by the tanker segment will be significant during the forecast period. Tankers can carry crude oil, chemicals, oil products, and gas such as LNG and LPG. Hence, this segment presents a significant potential for the adoption of LNG as a marine fuel. Moreover, Wartsila will supply its volatile organic compounds (VOCs) recovery technology, LNG fuel gas handling systems, and auxiliary engines for two AET and four Teekay Offshore shuttle tankers. With the development of fuel-efficient technologies for tankers and stringent regulations, the LNG bunkering market in Europe for tankers is expected to grow during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the LNG bunkering market in Europe size and actionable market insights on post COVID-19 impact on each segment.

 

LNG Bunkering Market Scope in Europe

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 17.41%

Market growth 2022-2026

$ 441.45 million

Market structure

Fragmented

YoY growth (%)

15.12

Regional analysis

Norway, The Netherlands, Denmark, and Rest of Europe

Performing market contribution

Norway at 71%

Key consumer countries

Democratic Republic of Congo

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Broadview Energy Solutions B.V., Crowley Maritime Corp., Equinor ASA, Exxon Mobil Corp., Fjord Line AS, Petroliam Nasional Berhad, PJSC Gazprom Neft, Royal Dutch Shell Plc, SHV Energy, and TotalEnergies SE

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this LNG Bunkering Market in Europe Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive LNG bunkering market growth in Europe during the next five years
  • Precise estimation of the LNG bunkering market size in Europe and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the LNG bunkering industry in Europe across Norway, The Netherlands, Denmark, and Rest of Europe
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of LNG bunkering market vendors in Europe 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                           

                **1.1 Market Overview

                                *Exhibit 01:  Key Finding 1

                                *Exhibit 02:  Key Finding 2

                                *Exhibit 03:  Key Finding 3

                                *Exhibit 04:  Key Finding 5

                                *Exhibit 05:  Key Finding 6

                                *Exhibit 06:  Key Finding 7

***2. Market Landscape                             

                **2.1 Market ecosystem             

                                *Exhibit 07:  Parent market

                                *Exhibit 08:  Market characteristics

                **2.2 Value chain analysis           

                                *Exhibit 09:  Value Chain: Oil and Gas Storage and Transportation

                                *2.2.1 Inputs

                                *2.2.2 Storage and transportation

                                *2.2.3 Industry innovations:

***3. Market Sizing                       

                **3.1 Market definition

                                *Exhibit 10:  Offerings of vendors included in the market definition

                **3.2 Market segment analysis 

                                *Exhibit 11:  Market segments

                **3.3 Market size 2021 

                **3.4 Market outlook: Forecast for 2021 - 2026 

                                *3.4.1 Estimating growth rates for emerging and high-growth markets

                                *3.4.2 Estimating growth rates for mature markets

                                *Exhibit 12:  Global - Market size and forecast 2021 - 2026 ($ million)

                                *Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                          

                **4.1 Five Forces Summary        

                                *Exhibit 14:  Five forces analysis 2021 & 2026

                **4.2 Bargaining power of buyers           

                                *Exhibit 15: Bargaining power of buyers

                **4.3 Bargaining power of suppliers       

                                *Exhibit 16: Bargaining power of suppliers

                **4.4 Threat of new entrants    

                                *Exhibit 17: Threat of new entrants

                **4.5 Threat of substitutes         

                                *Exhibit 18: Threat of substitutes

                **4.6 Threat of rivalry   

                                *Exhibit 19: Threat of rivalry

                **4.7 Market condition

                                *Exhibit 20:  Market condition - Five forces 2021

***5 Market Segmentation by End-user                              

                **5.1 Market segments

                                *Exhibit 21:  End-user - Market share 2021-2026 (%)

                **5.2 Comparison by End-user  

                                *Exhibit 22:  Comparison by End-user

                **5.3 Tanker - Market size and forecast 2021-2026           

                                *Exhibit 23:  Tanker - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 24:  Tanker - Year-over-year growth 2021-2026 (%)

                **5.4 Ferry and ro-ro - Market size and forecast 2021-2026           

                                *Exhibit 25:  Ferry and ro-ro - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 26:  Ferry and ro-ro - Year-over-year growth 2021-2026 (%)

                **5.5 Container - Market size and forecast 2021-2026     

                                *Exhibit 27:  Container - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 28:  Container - Year-over-year growth 2021-2026 (%)

                **5.6 Others - Market size and forecast 2021-2026           

                                *Exhibit 29:  Others - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 30:  Others - Year-over-year growth 2021-2026 (%)

                **5.7 Market opportunity by End-user  

                                *Exhibit 31:  Market opportunity by End-user

***6. Customer landscape                         

                **6.1 Overview

                                *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                *Exhibit 32: ?Customer landscape?

***7. Geographic Landscape                     

                **7.1 Geographic segmentation

                                *Exhibit 33:  Market share by geography 2021-2026 (%)

                **7.2 Geographic comparison   

                                *Exhibit 34: Geographic comparison

                **7.3 Norway - Market size and forecast 2021-2026         

                                *Exhibit 35:  Norway - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 36:  Norway - Year-over-year growth 2021-2026 (%)

                **7.4 The Netherlands - Market size and forecast 2021-2026        

                                *Exhibit 37:  The Netherlands - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 38:  The Netherlands - Year-over-year growth 2021-2026 (%)

                **7.5 Denmark - Market size and forecast 2021-2026      

                                *Exhibit 39:  Denmark - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 40:  Denmark - Year-over-year growth 2021-2026 (%)

                **7.6 Rest of Europe - Market size and forecast 2021-2026           

                                *Exhibit 41:  Rest of Europe - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 42:  Rest of Europe - Year-over-year growth 2021-2026 (%)

                **7.7 Market opportunity by geography

                                *Exhibit 43:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                   

                **8.1 Market drivers     

                                *8.1.1 Growing marine logistics businesses

                                *8.1.2 Increase in the supply of LNG

                                *8.1.3 Expanding LNG Bunkering Infrastructure in Europe

                **8.2 Market challenges              

                                *8.2.1 High capital requirements of using LNG as a marine fuel

                                *8.2.2 Fluctuation in oil and gas prices

                                *8.2.3 Demand-supply gap in LNG bunkering

                             *Exhibit 44:  Impact of drivers and challenges

                **8.3 Market trends      

                                *8.3.1 Increase in demand for cleaner fuels

                                *8.3.2 Technological advances in LNG bunkering

                                *8.3.3 Increase in gas exploration and production activities

***9. Vendor Landscape                             

                **9.1 Overview

                                *Exhibit 45: Vendor landscape

                                *The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                **9.2 Landscape disruption        

                                *Exhibit 46: ?Landscape disruption?

                                *Exhibit 47: Industry risks

***10. Vendor Analysis               

                **10.1 Vendors covered              

                                *Exhibit 48: Vendors covered

                **10.2 Market positioning of vendors    

                                *Exhibit 49: ?Market positioning of vendors?

                **10.3 Broadview Energy Solutions B.V.

                                *Exhibit 50:  Broadview Energy Solutions B.V. - Overview

                                *Exhibit 51:  Broadview Energy Solutions B.V. - Product and service

                                *Exhibit 52:  Broadview Energy Solutions B.V. - Key offerings

                **10.4 Crowley Maritime Corp.

                                *Exhibit 53:  Crowley Maritime Corp. - Overview

                                *Exhibit 54:  Crowley Maritime Corp. - Product and service

                                *Exhibit 55:  Crowley Maritime Corp. - Key offerings

                **10.5 Equinor ASA       

                                *Exhibit 56:  Equinor ASA - Overview

                                *Exhibit 57:  Equinor ASA - Business segments

                                *Exhibit 58:  Equinor ASA - Key offerings

                                *Exhibit 59:  Equinor ASA - Segment focus

                **10.6 Exxon Mobil Corp.            

                                *Exhibit 60:  Exxon Mobil Corp. - Overview

                                *Exhibit 61:  Exxon Mobil Corp. - Business segments

                                *Exhibit 62:  Exxon Mobil Corp. - Key offerings

                                *Exhibit 63:  Exxon Mobil Corp. - Segment focus

                **10.7 Fjord Line AS      

                                *Exhibit 64:  Fjord Line AS - Overview

                                *Exhibit 65:  Fjord Line AS - Product and service

                                *Exhibit 66:  Fjord Line AS - Key offerings

                **10.8 Petroliam Nasional Berhad           

                                *Exhibit 67:  Petroliam Nasional Berhad - Overview

                                *Exhibit 68:  Petroliam Nasional Berhad - Business segments

                                *Exhibit 69:  Petroliam Nasional Berhad - Key offerings

                                *Exhibit 70:  Petroliam Nasional Berhad - Segment focus

                **10.9 PJSC Gazprom Neft          

                                *Exhibit 71:  PJSC Gazprom Neft - Overview

                                *Exhibit 72:  PJSC Gazprom Neft - Business segments

                                *Exhibit 73:  PJSC Gazprom Neft-Key news

                                *Exhibit 74:  PJSC Gazprom Neft - Key offerings

                                *Exhibit 75:  PJSC Gazprom Neft - Segment focus

                **10.10 Royal Dutch Shell Plc    

                                *Exhibit 76:  Royal Dutch Shell Plc - Overview

                                *Exhibit 77:  Royal Dutch Shell Plc - Business segments

                                *Exhibit 78:  Royal Dutch Shell Plc-Key news

                                *Exhibit 79:  Royal Dutch Shell Plc - Key offerings

                                *Exhibit 80:  Royal Dutch Shell Plc - Segment focus

                **10.11 SHV Energy       

                                *Exhibit 81:  SHV Energy - Overview

                                *Exhibit 82:  SHV Energy - Product and service

                                *Exhibit 83:  SHV Energy - Key offerings

                **10.12 TotalEnergies SE             

                                *Exhibit 84:  TotalEnergies SE - Overview

                                *Exhibit 85:  TotalEnergies SE - Business segments

                                *Exhibit 86:  TotalEnergies SE-Key news

                                *Exhibit 87:  TotalEnergies SE - Key offerings

                                *Exhibit 88:  TotalEnergies SE - Segment focus

***11. Appendix                            

                **11.1 Scope of the report         

                                *11.1.1 ????Market definition

                                *11.1.2 ????Objectives

                                *11.1.3 ????Notes and caveats

                **11.2 Currency conversion rates for US$            

                                *Exhibit 89: ?Currency conversion rates for US$?

                **11.3 Research Methodology 

                                *Exhibit 90: ?Research Methodology

                                *Exhibit 91: ??Validation techniques employed for market sizing?

                                *Exhibit 92: ??Information sources

                **11.4 List of abbreviations        

                                *Exhibit 93: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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