12JUL2019 - NEWS - Research - LNG Bunkering Market to Reach $12bn by 2024

The global LNG bunkering market was valued at approximately USD 397.70 million in 2017 and is expected to generate revenue of around USD 11899.60 million by the end of 2024, growing at a CAGR of around 59.4% between 2018 and 2024.

LNG bunkering is experiencing the highest growth rate in developed as well as developing countries, said a report by Zion Market Research.

Escalating number of vessels using LNG owing to the need for cleaner fuels in compliance with the stringent government regulations in order to reduce air pollution and maintain sustainability is the main driver that is boosting the growth of the market. This particular factor is driving the development of the LNG bunkering market.