LPG Tanker Market 2022-27 | Trends, Share, Growth, Size and Forecast
According to the latest report by IMARC Group “LPG Tanker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global LPG tanker market is expected to exhibit a CAGR of 5.24% during 2022-2027.
Liquified petroleum gas (LPG) tanker includes insulated or refrigerated seagoing tank, small-pressurized tank, and semi-pressurized tank. It operates using a controllable-pitch propeller and geared-diesel set. It is mainly used for transporting petroleum gases, ammonia, vinyl chloride, and propylene in bulk quantities in various end-use industries across the globe.
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There is currently significant growth in the oil and gas industry around the world. This, in confluence with the rising shale gas production, represents one of the key factors bolstering the growth of the market. Apart from this, there is an increase in the demand for LPG tankers worldwide on account of the rising sales of heating, ventilation, and air condition (HVAC) systems. Moreover, LPG is increasingly being used as feedstock in the manufacturing of petrochemicals and fertilizers. Besides this, the market is also driven by technological advancements undertaken by leading players to expand their market reach.
Breakup by Vessel Size:
- Very Large Gas Carrier
- Large Gas Carrier
- Medium Gas Carriers
- Small Gas Carrier
Breakup by Refrigeration and Pressurization:
- Fully Pressurized
- Fully Refrigerated
- Extra Refrigerated (Ethylene Gas Carriers)
Market 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 with Key Player:
- BW Group
- Dorian LPG Ltd.
- 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)
- The Great Eastern Shipping Co. Ltd
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