LPG Tanker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

LPG Tanker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A3824
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Market Overview:

The global LPG tanker market is expected to exhibit a CAGR of 5.24% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Liquified Petroleum Gas (LPG) tanker refers to a gas carrier used for transporting petroleum gases in bulk quantities. It consists of independent reservoirs arranged in cargo holds. Some of the commonly used LPG tankers include small-pressurized tanks, insulated or refrigerated seagoing tanks and semi-pressurized tanks. They are driven by a controllable-pitch propeller and geared-diesel set and are available in very large, large, medium and small-sized variants. These tankers are also used for transporting ammonia, propylene and vinyl chloride. As a result, they find extensive applications across various industries, including oil and gas, chemical, automotive and refinery.

LPG Tanker Market Trends:

Significant growth in the oil and gas industry, along with increasing shale gas production across the globe, is one of the key factors creating a positive outlook for the market. Furthermore, the rising demand of LPG for heating, ventilation and air conditioning (HVAC) applications is providing a thrust to the market growth. LPG tankers are widely used for safe and convenient storage and transportation of gas over long distances. In line with this, the increasing demand of LPG as a feedstock for the manufacturing of fertilizers and petrochemicals is also contributing to the growth of the market. Additionally, various technological advancements, such as the integration of semi-membrane tanks and bow wave resistance systems on the hull of the tanker, are acting as other growth-inducing factors. Manufacturers are also installing engines with higher horsepower and improved fuel efficiency that consume lesser fuel and offer enhanced speed. Other factors, including the implementation of favorable government policies, along with extensive infrastructural developments, especially in the developing economies, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global LPG tanker market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on vessel size and refrigeration and pressurization.

Breakup by Vessel Size:

  • Very Large Gas Carrier
  • Large Gas Carrier
  • Medium Gas Carriers
  • Small Gas Carrier

Breakup by Refrigeration and Pressurization:

  • Fully Pressurized
  • Semi-pressurized
  • Fully Refrigerated
  • Extra Refrigerated (Ethylene Gas Carriers)

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being BW Group, Dorian LPG Ltd., EXMAR, Hyundai Heavy Industries Co. Ltd., Kawasaki Heavy Industries Ltd., Kuwait Oil Tanker Company S.A.K, Mitsubishi Heavy Industries Ltd, StealthGas Inc., STX Corporation (Afc Mercury Co. Ltd) and The Great Eastern Shipping Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Vessel Size, Refrigeration and Pressurization, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BW Group, Dorian LPG Ltd., EXMAR, Hyundai Heavy Industries Co. Ltd., Kawasaki Heavy Industries Ltd., Kuwait Oil Tanker Company S.A.K, Mitsubishi Heavy Industries Ltd, StealthGas Inc., STX Corporation (Afc Mercury Co. Ltd) and The Great Eastern Shipping Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the global LPG tanker market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global LPG tanker market?
  • What are the key regional markets?
  • What is the breakup of the market based on the vessel size?
  • What is the breakup of the market based on the refrigeration and pressurization?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global LPG tanker market and who are the key players?
  • What is the degree of competition in the industry?

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LPG Tanker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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