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LPG Tanker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global LPG tanker market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. 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.

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, along with forecasts at the global, regional and country level from 2021-2026. 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 2020
Historical Period 2015-2020
Forecast Period 2021-2026
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$ 2299
Five User License: US$ 3399
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?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global LPG Tanker Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Vessel Size
    6.1    Very Large Gas Carrier
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Large Gas Carrier
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Medium Gas Carriers
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Small Gas Carrier
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Refrigeration and Pressurization
    7.1    Fully Pressurized
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Semi-pressurized
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Fully Refrigerated
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Extra Refrigerated (Ethylene Gas Carriers)
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    BW Group
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
        13.3.2    Dorian LPG Ltd.
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 Financials
        13.3.3    EXMAR
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
           13.3.3.3 Financials
        13.3.4    Hyundai Heavy Industries Co. Ltd.
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
        13.3.5    Kawasaki Heavy Industries Ltd.
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
           13.3.5.3 Financials
           13.3.5.4 SWOT Analysis
        13.3.6    Kuwait Oil Tanker Company S.A.K
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
        13.3.7    Mitsubishi Heavy Industries Ltd
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    StealthGas Inc.
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 Financials
        13.3.9    STX Corporation (Afc Mercury Co. Ltd)
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
           13.3.9.3 Financials
        13.3.10    The Great Eastern Shipping Co. Ltd.
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio
           13.3.10.3 Financials

List of Figures

Figure 1: Global: LPG Tanker Market: Major Drivers and Challenges
Figure 2: Global: LPG Tanker Market: Sales Value (in Million US$), 2015-2020
Figure 3: Global: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: Global: LPG Tanker Market: Breakup by Vessel Size (in %), 2020
Figure 5: Global: LPG Tanker Market: Breakup by Refrigeration and Pressurization (in %), 2020
Figure 6: Global: LPG Tanker Market: Breakup by Region (in %), 2020
Figure 7: Global: LPG Tanker (Very Large Gas Carrier) Market: Sales Value (in Million US$), 2015 & 2020
Figure 8: Global: LPG Tanker (Very Large Gas Carrier) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Global: LPG Tanker (Large Gas Carrier) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: LPG Tanker (Large Gas Carrier) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: LPG Tanker (Medium Gas Carriers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: LPG Tanker (Medium Gas Carriers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: LPG Tanker (Small Gas Carrier) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: LPG Tanker (Small Gas Carrier) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: LPG Tanker (Fully Pressurized) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: LPG Tanker (Fully Pressurized) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: LPG Tanker (Semi-pressurized) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: LPG Tanker (Semi-pressurized) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: LPG Tanker (Fully Refrigerated) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: LPG Tanker (Fully Refrigerated) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: LPG Tanker (Extra Refrigerated (Ethylene Gas Carriers)) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: LPG Tanker (Extra Refrigerated (Ethylene Gas Carriers)) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: North America: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: North America: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: United States: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: United States: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Canada: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Canada: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Asia-Pacific: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Asia-Pacific: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: China: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: China: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Japan: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Japan: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: India: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: India: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: South Korea: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: South Korea: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Australia: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Australia: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Indonesia: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Indonesia: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Others: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Others: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Europe: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Europe: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Germany: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Germany: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: France: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: France: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: United Kingdom: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: United Kingdom: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Italy: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Italy: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Spain: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Spain: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Russia: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Russia: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Others: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Others: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Latin America: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Latin America: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Brazil: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Brazil: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Mexico: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Mexico: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Others: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Middle East and Africa: LPG Tanker Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Middle East and Africa: LPG Tanker Market: Breakup by Country (in %), 2020
Figure 71: Middle East and Africa: LPG Tanker Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Global: LPG Tanker Industry: SWOT Analysis
Figure 73: Global: LPG Tanker Industry: Value Chain Analysis
Figure 74: Global: LPG Tanker Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: LPG Tanker Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: LPG Tanker Market Forecast: Breakup by Vessel Size (in Million US$), 2021-2026
Table 3: Global: LPG Tanker Market Forecast: Breakup by Refrigeration and Pressurization (in Million US$), 2021-2026
Table 4: Global: LPG Tanker Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: LPG Tanker Market: Competitive Structure
Table 6: Global: LPG Tanker Market: Key Players

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