그린 메탄올 선박 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트와 예측(2024-2032년)

Growth Factors of green methanol ships Market

The global green methanol ships market is entering a rapid growth phase as the maritime industry shifts toward low-carbon fuels to meet international decarbonization mandates. According to the Fortune Business Insights report, the market was valued at USD 4.37 billion in 2024, is projected to rise sharply to USD 5.85 billion in 2025, and is expected to reach USD 33.42 billion by 2032, exhibiting a robust CAGR of 28.3% during 2025-2032. This exceptional growth reflects accelerating investments in methanol-powered vessels, emerging green fueling infrastructure, and global regulatory pressure to cut emissions from shipping.

Market Overview

Green methanol-produced from renewable hydrogen, biomass, and captured CO2-is increasingly emerging as a leading alternative marine fuel capable of reducing CO2 emissions by 60-95%, according to the Methanol Institute. Unlike LNG or hydrogen, green methanol remains liquid at ambient temperatures, simplifying storage, handling, and bunkering operations. Furthermore, it is compatible with both internal combustion engines and fuel cells, giving shipbuilders and ship-owners significant operational flexibility.

In 2024, the market remained highly consolidated, with major shipbuilders such as HD Hyundai Heavy Industries and Samsung Heavy Industries spearheading methanol ship adoption. The shipping industry's transition is gaining momentum driven by large container fleet operators including Maersk, Evergreen, COSCO, and CMA CGM, all of which have placed major orders for methanol-powered vessels.

Regional Market Highlights

Asia Pacific dominated the global market in 2024 with a 57.44% share, supported by the region's massive shipbuilding capabilities and strategic investments in methanol bunkering infrastructure. China, Japan, and South Korea continue to build next-generation dual-fuel and methanol-ready ships, reinforcing Asia Pacific's leadership. The region's market value increased significantly from USD 1.90 billion in 2023 to USD 2.51 billion in 2024, reflecting strong momentum.

Europe represents the second-strongest market, driven by EU ETS inclusion of maritime emissions, green shipping corridors, and aggressive carbon-neutral targets. European carriers such as Maersk, MSC, and CMA CGM collectively placed over 200 methanol-fueled vessel orders, positioning Europe as a frontrunner in green fuel adoption.

North America is experiencing rapid growth fueled by renewable methanol production, port upgrades, and rising investment in green shipping infrastructure. Key ports including Houston and Vancouver are building methanol storage and bunkering facilities to support early adopters. Renewable methanol producers such as OCI Global are expanding capacity to meet surging demand.

The Rest of the World, including the Middle East, Africa, and Latin America, is gradually adopting methanol-fueled vessels due to expanding green energy programs, port modernization, and government-backed decarbonization initiatives.

Market Drivers & Opportunities

The boom in new shipbuilding orders is a primary driver. Global fleet operators are increasingly commissioning dual-fuel and methanol-ready vessels to comply with IMO decarbonization frameworks. For example, Evergreen ordered 24 methanol-fueled container ships in 2023, signaling industry-wide urgency to modernize fleets.

Another significant opportunity lies in growing public-private partnerships. Governments, port authorities, and shipping companies are investing jointly in methanol bunkering infrastructure and renewable methanol supply chains. Singapore's Technical Reference TR129 for Methanol Bunkering (2023) is a major milestone in establishing standardized safety and handling protocols.

Advancements in fuel and engine technology further support adoption. Companies such as MAN Energy Solutions and Wartsila have introduced methanol-capable engines that dramatically cut NOx emissions and eliminate SOx entirely. More than 100 ports worldwide now support methanol bunkering, significantly broadening operational feasibility.

Market Restraints & Challenges

Despite strong momentum, several challenges remain. High production costs for green methanol, limited renewable feedstocks, and costly retrofitting requirements hinder widespread adoption. Green methanol's price premium compared to fossil fuels makes economic viability a concern for cost-sensitive operators. Technical hurdles around fuel handling, safety systems, and energy density also pose challenges for older fleets.

Segment Overview

By ship type, container vessels led the market in 2024, driven by major long-haul shipping companies shifting toward methanol propulsion. Cargo vessels held the second-largest share.

By fuel type, dual-fuel vessels dominated in 2024, offering transitional flexibility as operators gradually scale green fuel usage. Single-fuel methanol ships are expected to accelerate as next-generation vessels enter the market.

By sales channel, line fit accounted for the largest share in 2024, as new methanol-ready ships are built directly at the shipyard, offering long-term operational advantages.

Conclusion

Driven by regulatory pressure, technological innovation, and expanding infrastructure, the green methanol ships market is set for extraordinary growth. With its value rising from USD 4.37 billion in 2024 to USD 33.42 billion by 2032, green methanol is rapidly becoming a cornerstone in global maritime decarbonization efforts.

Segmentation By Ship Type

• Cruise Ships
• Container Vessels
• Bulk Carrier
• Tankers
• Cargo Ships
• Tugs
• Others

By Fuel Type

• Single Fuel
• Dual Fuel

By Sales Channel

• Line Fit
• Retro Fit

By Region

• North America (By Ship Type, By Fuel Type, By Sales Channel, and By Country)
  • U.S. (By Sales Channel)
  • Canada (By Sales Channel)
• Europe (By Ship Type, By Fuel Type, By Sales Channel, and By Country)
  • U.K. (By Sales Channel)
  • Germany (By Sales Channel)
  • Nordic Countries (By Sales Channel)
  • Russia (By Sales Channel)
  • Rest of Europe (By Sales Channel)
• Asia Pacific (By Ship Type, By Fuel Type, By Sales Channel, and By Country)
  • China (By Sales Channel)
  • Japan (By Sales Channel)
  • South Korea (By Sales Channel)
  • India (By Sales Channel)
  • Rest of Asia Pacific (By Sales Channel)
• Rest of the World (By Ship Type, By Fuel Type, By Sales Channel, and By Sub-Region)
  • Middle East & Africa (By Sales Channel)
  • Latin America (By Sales Channel)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities
• 3.4. Market Trends

4. Key Insights

• 4.1. Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
• 4.2. Latest Technological Advancements
• 4.3. Porters Five Forces Analysis
• 4.4. Supply Chain Analysis
• 4.5. Quantitative Insights - Impact of COVID-19 Pandemic on Global Green Methanol Ships Market

5. Global Green Methanol Ships Market Analysis, Insights and Forecast, 2019-2032

• 5.1. 5.1 Key Findings / Definition
  • 5.1.1. 5.2. Market Analysis, Insights and Forecast - By Ship Type
    • 5.1.1.1. 5.2.1. Cruise Ships
    • 5.1.1.2. 5.2.2. Container Vessels
    • 5.1.1.3. 5.2.3. Bulk Carrier
    • 5.1.1.4. 5.2.4. Tankers
    • 5.1.1.5. 5.2.5. Cargo Ships
    • 5.1.1.6. 5.2.6. Tugs
    • 5.1.1.7. 5.2.7. Others
  • 5.1.2. 5.3. Market Analysis, Insights and Forecast - By Fuel Type
    • 5.1.2.1. 5.3.1. Single Fuel
    • 5.1.2.2. 5.3.2. Dual Fuel
  • 5.1.3. 5.4. Market Analysis, Insights and Forecast - By Sales Channel
    • 5.1.3.1. 5.4.1. Line Fit
    • 5.1.3.2. 5.4.2. Retro Fit
  • 5.1.4. 5.5. Market Analysis, Insights and Forecast - By Region
    • 5.1.4.1. 5.5.1. North America
    • 5.1.4.2. 5.5.2. Europe
    • 5.1.4.3. 5.5.3. Asia Pacific
    • 5.1.4.4. 5.5.4. Rest of World

6. North America Green Methanol Ships Market Analysis, Insights and Forecast, 2019-2032

• 6.1. Market Analysis, Insights and Forecast - By Ship Type
  • 6.1.1. Cruise Ships
  • 6.1.2. Container Vessels
  • 6.1.3. Bulk Carrier
  • 6.1.4. Tankers
  • 6.1.5. Cargo Ships
  • 6.1.6. Tugs
  • 6.1.7. Others
• 6.2. Market Analysis, Insights and Forecast - By Fuel Type
  • 6.2.1. Single Fuel
  • 6.2.2. Dual Fuel
• 6.3. Market Analysis, Insights and Forecast - By Sales Channel
  • 6.3.1. Line Fit
  • 6.3.2. Retro Fit
• 6.4. Market Analysis, Insights and Forecast - By Country
  • 6.4.1. U.S.
    • 6.4.1.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 6.4.1.1.1. Line Fit
      • 6.4.1.1.2. Retro Fit
  • 6.4.2. Canada
    • 6.4.2.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 6.4.2.1.1. Line Fit
      • 6.4.2.1.2. Retro Fit

7. Europe Green Methanol Ships Market Analysis, Insights and Forecast, 2019-2032

• 7.1. Market Analysis, Insights and Forecast - By Ship Type
  • 7.1.1. Cruise Ships
  • 7.1.2. Container Vessels
  • 7.1.3. Bulk Carrier
  • 7.1.4. Tankers
  • 7.1.5. Cargo Ships
  • 7.1.6. Tugs
  • 7.1.7. Others
• 7.2. Market Analysis, Insights and Forecast - By Fuel Type
  • 7.2.1. Single Fuel
  • 7.2.2. Dual Fuel
• 7.3. Market Analysis, Insights and Forecast - By Sales Channel
  • 7.3.1. Line Fit
  • 7.3.2. Retro Fit
• 7.4. Market Analysis, Insights and Forecast - By Country
  • 7.4.1. U.K.
    • 7.4.1.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 7.4.1.1.1. Line Fit
      • 7.4.1.1.2. Retro Fit
  • 7.4.2. Germany
    • 7.4.2.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 7.4.2.1.1. Line Fit
      • 7.4.2.1.2. Retro Fit
  • 7.4.3. Nordic Countries
    • 7.4.3.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 7.4.3.1.1. Line Fit
      • 7.4.3.1.2. Retro Fit
  • 7.4.4. Russia
    • 7.4.4.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 7.4.4.1.1. Line Fit
      • 7.4.4.1.2. Retro Fit
  • 7.4.5. Rest of Europe
    • 7.4.5.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 7.4.5.1.1. Line Fit
      • 7.4.5.1.2. Retro Fit

8. Asia Pacific Green Methanol Ships Market Analysis, Insights and Forecast, 2019-2032

• 8.1. Market Analysis, Insights and Forecast - By Ship Type
  • 8.1.1. Cruise Ships
  • 8.1.2. Container Vessels
  • 8.1.3. Bulk Carrier
  • 8.1.4. Tankers
  • 8.1.5. Cargo Ships
  • 8.1.6. Tugs
  • 8.1.7. Others
• 8.2. Market Analysis, Insights and Forecast - By Fuel Type
  • 8.2.1. Single Fuel
  • 8.2.2. Dual Fuel
• 8.3. Market Analysis, Insights and Forecast - By Sales Channel
  • 8.3.1. Line Fit
  • 8.3.2. Retro Fit
• 8.4. Market Analysis, Insights and Forecast - By Country
  • 8.4.1. China
    • 8.4.1.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 8.4.1.1.1. Line Fit
      • 8.4.1.1.2. Retro Fit
  • 8.4.2. Japan
    • 8.4.2.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 8.4.2.1.1. Line Fit
      • 8.4.2.1.2. Retro Fit
  • 8.4.3. South Korea
    • 8.4.3.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 8.4.3.1.1. Line Fit
      • 8.4.3.1.2. Retro Fit
  • 8.4.4. India
    • 8.4.4.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 8.4.4.1.1. Line Fit
      • 8.4.4.1.2. Retro Fit
  • 8.4.5. Rest of Asia Pacific
    • 8.4.5.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 8.4.5.1.1. Line Fit
      • 8.4.5.1.2. Retro Fit

9. Rest of World Green Methanol Ships Market Analysis, Insights and Forecast, 2019-2032

• 9.1. Market Analysis, Insights and Forecast - By Ship Type
  • 9.1.1. Cruise Ships
  • 9.1.2. Container Vessels
  • 9.1.3. Bulk Carrier
  • 9.1.4. Tankers
  • 9.1.5. Cargo Ships
  • 9.1.6. Tugs
  • 9.1.7. Others
• 9.2. Market Analysis, Insights and Forecast - By Fuel Type
  • 9.2.1. Single Fuel
  • 9.2.2. Dual Fuel
• 9.3. Market Analysis, Insights and Forecast - By Sales Channel
  • 9.3.1. Line Fit
  • 9.3.2. Retro Fit
• 9.4. Market Analysis, Insights and Forecast - By Country
  • 9.4.1. Middle East & Africa
    • 9.4.1.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 9.4.1.1.1. Line Fit
      • 9.4.1.1.2. Retro Fit
  • 9.4.2. Latin America
    • 9.4.2.1. Market Analysis, Insights and Forecast - By Sales Channel
      • 9.4.2.1.1. Line Fit
      • 9.4.2.1.2. Retro Fit

10. Competitive Analysis

• 10.1. Global Market Rank Analysis (2024)
• 10.2. Competitive Dashboard

11. Company Profiles

• 11.1. HD Hyundai Heavy Industries (South Korea)
  • 11.1.1. Overview
  • 11.1.2. Products & services
  • 11.1.3. SWOT Analysis
  • 11.1.4. Recent Developments
  • 11.1.5. Strategies
  • 11.1.6. Financials (Based on Availability)
• 11.2. Samsung Heavy Industries (South Korea)
  • 11.2.1. Overview
  • 11.2.2. Products & services
  • 11.2.3. SWOT Analysis
  • 11.2.4. Recent Developments
  • 11.2.5. Strategies
  • 11.2.6. Financials (Based on Availability)
• 11.3. COSCO Shipping Lines (China)
  • 11.3.1. Overview
  • 11.3.2. Products & services
  • 11.3.3. SWOT Analysis
  • 11.3.4. Recent Developments
  • 11.3.5. Strategies
  • 11.3.6. Financials (Based on Availability)
• 11.4. Damen Shipyards Group (Netherlands)
  • 11.4.1. Overview
  • 11.4.2. Products & services
  • 11.4.3. SWOT Analysis
  • 11.4.4. Recent Developments
  • 11.4.5. Strategies
  • 11.4.6. Financials (Based on Availability)
• 11.5. VARD AS (Norway)
  • 11.5.1. Overview
  • 11.5.2. Products & services
  • 11.5.3. SWOT Analysis
  • 11.5.4. Recent Developments
  • 11.5.5. Strategies
  • 11.5.6. Financials (Based on Availability)
• 11.6. Kawasaki Heavy Industries (Japan)
  • 11.6.1. Overview
  • 11.6.2. Products & services
  • 11.6.3. SWOT Analysis
  • 11.6.4. Recent Developments
  • 11.6.5. Strategies
  • 11.6.6. Financials (Based on Availability)
• 11.7. Wartsila (Finland)
  • 11.7.1. Overview
  • 11.7.2. Products & services
  • 11.7.3. SWOT Analysis
  • 11.7.4. Recent Developments
  • 11.7.5. Strategies
  • 11.7.6. Financials (Based on Availability)
• 11.8. MAN Energy Solutions (Germany)
  • 11.8.1. Overview
  • 11.8.2. Products & services
  • 11.8.3. SWOT Analysis
  • 11.8.4. Recent Developments
  • 11.8.5. Strategies
  • 11.8.6. Financials (Based on Availability)
• 11.9. Hanwha Engine Co Ltd. (South Korea)
  • 11.9.1. Overview
  • 11.9.2. Products & services
  • 11.9.3. SWOT Analysis
  • 11.9.4. Recent Developments
  • 11.9.5. Strategies
  • 11.9.6. Financials (Based on Availability)
• 11.10. Methanex Corporation (Canada)
  • 11.10.1. Overview
  • 11.10.2. Products & services
  • 11.10.3. SWOT Analysis
  • 11.10.4. Recent Developments
  • 11.10.5. Strategies
  • 11.10.6. Financials (Based on Availability)