Global LPG Tanker Market 2019-2023

The global LPG tanker market size will grow by USD 235.96 million during 2019-2023. The market’s growth momentum is expected to accelerate throughout the forecast period because of the steady increase in the year-over-year growth. This industry research report provides a detailed analysis of the market based on technology (fully refrigerated, semi-refrigerated, and fully pressurized) and geography (the Americas, APAC, and EMEA). The report analyzes the market’s competitive landscape and offers information on several LPG tanker companies including DSME, Hyundai Heavy Industries, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Nakilat and Teekay LNG Partners.

Below are some of the key findings from this LPG tanker market analysis report

See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.

Get a FREE sample now!

Global LPG tanker industry overview

The rise in demand for natural gas is driving the global LPG tanker market. The demand for natural gas is rising rapidly globally because of the policies by various regulatory bodies to reduce the GHG emissions and substitution of coal with natural gas. Moreover, the increase in demand for natural gas is also driven by rapid economic growth and an increase in efforts to improve air quality. Owing to the rising demand for LPG, the demand for transporting it to various countries is also rising, which in turn, is driving the LPG tanker market.

Also, the growth in LPG fleet consolidation is positively impacting the global LPG tanker market. Technological integration backed with evolving market conditions has compelled vendors to alter and restructure their operational tactics in the oil and gas market, leading to market consolidation. With the rise in LPG fleet consolidation, end-users can operate more efficiently, with an increased level of utilization, and more efficient deployment across various regions. The rise in demand for natural gas coupled with an increase in LPG fleet consolidation is driving the LPG tanker market growth at a CAGR of more than 4% during the forecast period.

Top LPG tanker companies covered in this market research report

The global LPG tanker market is highly fragmented. The market is in the initial stage of the growth phase and the competition is expected to become more intense by the end of the forecast period. To help clients improve their revenue shares in the market, this research report provides an analysis of the market’s competitive landscape and offers information on the products offered by various leading companies. Additionally, this LPG tanker market analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.

The report offers a detailed analysis of several leading LPG tanker companies, including:

• DSME
• Hyundai Heavy Industries
• Kawasaki Heavy Industries
• Mitsubishi Heavy Industries
• Nakilat
• Teekay LNG Partners

 LPG tanker market segmentation based on technology

• Fully refrigerated
• Semi-refrigerated
• Fully pressurized

Fully refrigerated tankers were the dominating technology of the global LPG tanker market in 2018, owing to the increasing volume of US Gulf shipments, significant Middle East exports, and the strong demand for LPG in Asian countries. The market share of this segment will increase, and it will continue to dominate the market throughout the next five years.

LPG tanker market segmentation based on region

• The Americas
• APAC
• EMEA

APAC accounted for the largest LPG tanker market share in 2018, owing to the increasing demand for LPG from the residential and transportation sector. APAC will witness an increase in its market share and remain the market leader for the next five years.

Key highlights of the global LPG tanker market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the LPG tanker market during the next five years
• Precise estimation of the global LPG tanker market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the LPG tanker industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of LPG tanker companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch