North America LNG Bunkering Market, Outlook and Forecast 2024-2030
The North America LNG Bunkering Market demonstrates robust expansion driven by tightening emissions regulations and the shipping industry's shift toward cleaner fuel alternatives. Valued at US$ 468.3 million in 2023, the market is projected to surge to US$ 909.7 million by 2030, growing at an impressive CAGR of 10.2% during the forecast period. The sector's acceleration follows temporary COVID-19 setbacks and benefits from post-pandemic recovery in maritime trade volumes combined with intensifying environmental mandates.
LNG bunkering serves as a critical infrastructure solution for vessels transitioning from conventional marine fuels to liquefied natural gas – a move that reduces sulfur oxide emissions by 90-95% and cuts nitrogen oxides by 85% compared to heavy fuel oil. With IMO 2020 sulfur caps and regional policies like the US Clean Shipping Act pushing decarbonization, industry participants are rapidly scaling operations to meet rising demand for clean bunker fuels.
https://www.24chemicalresearch.....com/reports/274719/
