Market Size of Australia LNG Bunkering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia LNG Bunkering Market Analysis
The Australian LNG bunkering market is expected to grow at a CAGR of more than 6% during the forecast period.
The market was negatively impacted by the Covid-19 pandemic, as demand for LNG bunkering services fell as marine shipping and trade declined significantly. However, the market has since rebounded and is expected to grow steadily during the forecast period.
- Over the long term, factors such as rising investments in LNG bunkering infrastructure and facilities are expected to drive the market during the forecast period.
- On the flip side, the increasing adoption of alternative low-sulfur fuels such as Marine Gas Oil (MGO) and Low-Sulfur Fuel Oil (LSFO) is expected to restrain the market during the forecast period.
- However, rising investments in small-scale LNG infrastructure are expected to provide a significant opportunity for the market beyond the forecast period.
Australia LNG Bunkering Industry Segmentation
Liquefied natural gas (LNG) bunkering is where LNG fuel is transferred from a given distribution source to an LNG-fuelled ship.
The Australia LNG bunkering market is segmented by end-user. By end-user, the market is segmented into tanker fleet, container fleet, bulk & general cargo fleet, ferries & OSV, and others. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
| End-User | |
| Tanker Fleet | |
| Container Fleet | |
| Bulk & General Cargo Fleet | |
| Ferries & OSV | |
| Others |
Australia LNG Bunkering Market Size Summary
The Australian LNG bunkering market is poised for significant growth, driven by increasing investments in LNG infrastructure and facilities. Despite the initial setback due to the Covid-19 pandemic, which led to a decline in demand as marine shipping and trade slowed, the market has shown resilience and is expected to expand steadily. The adoption of LNG as a maritime fuel is gaining traction, particularly due to stringent government regulations on emissions, making it an attractive option for vessels traditionally reliant on heavy fuel oil and marine gas oil. The potential for Australia to become a leading supplier of LNG, coupled with its status as a major LNG producer and exporter, positions the country favorably to develop a robust LNG bunkering industry. This development is further supported by initiatives such as the establishment of LNG bunkering facilities in key ports like Fremantle and Pilbara, which are expected to enhance the country's maritime fuel capabilities.
The market landscape is characterized by a consolidated group of key players, including Siem Offshore Inc., Gas Energy Australia, Woodside Petroleum Ltd., Oceania Marine Energy, and Norwest Energy NL. These companies are actively involved in projects aimed at advancing LNG bunkering capabilities, such as the development of an electrified LNG plant at Port Hedland. Additionally, the increasing number of ferries and offshore support vessels (OSVs) is anticipated to drive demand for LNG-fueled fleets, further bolstering the market. Collaborative efforts, such as the partnership between Pilbara Clean Fuels and Oceania Marine Energy to create a low-carbon eLNG production and ship bunkering capability, highlight the strategic initiatives underway to capitalize on Australia's abundant LNG resources. As the country continues to invest in offshore oil and gas production and renewable energy projects, the LNG bunkering market is expected to benefit from these developments, positioning Australia as a key player in the global LNG supply chain.
Australia LNG Bunkering Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 End-User
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2.1.1 Tanker Fleet
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2.1.2 Container Fleet
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2.1.3 Bulk & General Cargo Fleet
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2.1.4 Ferries & OSV
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2.1.5 Others
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Australia LNG Bunkering Market Size FAQs
What is the current Australia LNG Bunkering Market size?
The Australia LNG Bunkering Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Australia LNG Bunkering Market?
Siem Offshore Inc., Gas Energy Australia, Woodside Petroleum Ltd, Oceania Marine Energy and Norwest Energy NL are the major companies operating in the Australia LNG Bunkering Market.
