Market Dynamics:
The demand for LNG as a bunker fuel is rising owing to stringent emission regulations on shipping industry. International Maritime Organization (IMO) has implemented regulations to limit sulfur content in marine fuels which is driving the adoption of LNG as an alternative fuel. Additionally, LNG offers operational benefits such as reduced operating and maintenance costs compared to conventional fuels which is further fueling its demand. However, lack of infrastructure for LNG bunkering is a major challenge for widespread adoption of LNG as a marine fuel. Key players are focusing on developing infrastructure for LNG bunkering at ports to tap growth opportunities.

Key Takeaways

The Global LNG Bunkering Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing global trade and maritime transportation. Stringent emission regulations boost demand for cleaner fuels.

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