Global LNG Tanker Market 2016-2020

This industry research report identifies Samsung Heavy Industries, Mitsubishi Heavy Industries, Hyundai Heavy Industries, DSME, Mitsui O.S.K. Lines, NYK, and Yamal LNG as the key vendors in the global LNG tanker market. This report also presents a competitive analysis of the market by containment technology (Moss-Rosenberg and membrane) and by geography (the Americas, APAC, and EMEA).

Overview of the global LNG tanker market

Market research analysts at Technavio have predicted that the global LNG tanker market will grow steadily during the forecast period and in terms of trade volume, the market will post a CAGR of almost 12% by 2020. The significant increase in the marine pollution has resulted in the increase in the focus of countries around the globe on marine environment protection and attempt to revive the marine ecosystem. Several countries have introduced stringent marine pollution regulations, which is considered to be one of the major factors that will have a positive impact on the growth of the LNG storage tank market. Crude or refined oil is one of the most culpable of all marine pollutants and affects the marine life in several ways. Additionally, several organizations hold the shipping industry responsible for several other forms of pollution that include sewage disposal and the emission of nitrous and sulfurous oxides by the burning of diesel/gas. The use of the natural gas as LNG does present several environmentally detrimental factors and will soon be the most sought after alternative fuel by the shipping industry. This estimated increase in demand will drive the demand for liquefied natural gas tankers.

Conventional LNG tankers are equipped with a reliable and moderately efficient steam turbine-driven propulsion system. GDF SUEZ Global Energy and Provalys vessels are propelled by a dual-fuel diesel-electric propulsion (DFDE) system that utilizes both diesel oil as well as boil-off gases, which increases the efficiency of the vessel by almost 30% when compared to conventional vessels. This will increase the adoption of DFDE systems in the next few years, and the revamping of carrier propulsion systems is considered to be one of the major trends that will gain traction in the market during the predicted period.

Competitive landscape and key vendors

The market is characterized by the presence of both small and large-scale LNG tanker companies and appears competitive. The introduction of significant liquefaction capacity is expected to emerge as a major trend in the market. With more volumes of uncontracted cargos expected to come into the market over the next few years, the opportunities for spot trading and the potential for profits of pure LNG traders are expected to hit a high. The LNG tanker market has had relatively higher barriers to entry, and this mainly attributes to the fact that most of the liquefaction volumes were tied to long-term contracts. However, the current LNG carrier market is filled to the saturation point, and the market has witnessed the emergence of a number of LNG buyers who are on the lookout for shorter contract durations. This will help traders earn huge revenue and also establish themselves in the global market.

The leading vendors in the market are -

• Samsung Heavy Industries
• Mitsubishi Heavy Industries
• Hyundai Heavy Industries
• DSME
• Mitsui O.S.K. Lines
• NYK
• Yamal LNG

Segmentation by containment technology and analysis of the LNG tanker market

• Moss-Rosenberg
• Membrane

The membrane containment technology market segment accounted for about 76% of the total share of the LNG storage tank market and dominated the market during 2015. The recent years have seen a constant increase in the year-on-year growth rate of this tanker segment and the expected growth in the transportation of LNG in the coming years will drive the need for more LNG tankers. This report also estimates that this market segment will grow at a CAGR of more than 7% during the predicted period.

Geographical segmentation and analysis of the LNG tanker market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geography, APAC will dominate the market throughout the forecast period and will also account for almost 91% of the total share of the market by 2020. This region has always been a powerhouse for the global LNG tanker market. The presence of major LNG consuming countries such as Japan, Korea, Taiwan, and China and the presence of several LNG tank manufacturers in countries such as Japan, Korea, and China will aid in the growth of the market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global LNG tanker market?
• What are the key market trends impacting the growth of the global LNG tanker market?
• What are the challenges to market growth?
• Who are the key vendors in the global LNG tanker market?
• What are the market opportunities and threats faced by the vendors in the global LNG tanker market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global LNG tanker market?

Technavio also offers customization on reports based on specific client requirement.

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