LPG Tankers Market Size Analysis
LPG Tankers Market Value is expected to increase by nearly 1.4X during the forecast period, 2018-2028. LPG tankers are basically gas carriers that are built with the purpose of transporting liquefied natural gas. These tankers are also used for transporting other gases such as propylene, vinyl chloride and ammonia.
Demand for such carriers is escalating owing to rise in demand for LPG across industrial and residential purpose. Increasing household use of liquefied petroleum gas (LPG) is one of the key factor boosting overall LPG demand. Even United Nations’ Sustainable Energy for All initiative, is pushing towards achieving 100% LPG cooking goal by 2030. According to the estimates, domestic sector accounted for 47% of total LPG usage, followed by chemicals (27%) and transport sector (8%). Overall, the global LPG market is registering 5.3% growth rate and is expected to continue its growth momentum in near future too. Increasing global LPG trade will create market opportunity for LPG tankers.
Close to 96 LPG tankers were sold in 2017. LPG carriers shipped over 90 million tonnes of gas worldwide. While the demand for LPG tanker is escalating, higher cost along with market volatility (oversupply issues) has affected the net growth.
Global LPG Tanker Market Analysis, By Capacity
LPG gas tanker ships are categorized into small, medium, and large scale capacity carriers. Small capacity ships range from 500 to 3,000 cubic meters. Medium ships are from 3,000 to 6,000 cubic meters. While medium capacity ships dominated the overall market, large container ships is gaining higher prominence and is replacing it at higher pace.
Global LPG Tankers Market Size and Forecast: Regional Analysis
Globally, majority of LPG tankers shipment took place in North America. Over 67% of the unit shipment took place in U.S. in 2017. However, most of these companies are operational in Middle East – largest exporter of natural gases. As a matter of fact, 83% of the LPG tanker companies are based in North America and Europe. Asia Pacific stands next to these region. China and Japan are key regions.
Global LPG Tankers Market Size and Forecast: Competition Landscape
The industry is highly consolidated. Some key LPG Gas Tankers Shipping Market Players are:
- StealthGas Inc.
- Avance Gas
- Navigator Holdings Ltd.
- Great Eastern Shipping Company Ltd.
- Dorian LPG
By Product Type:
- Small Container LPG Carriers
- Medium Container LPG Carriers
- Large Container LG Carriers
What Will You Discover in the Report?
- An in-depth analysis of the LPG Tanker market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the LPG Tanker market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the LPG Tanker market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the LPG Tanker industry during the forecast period
- Who are the LPG Tanker industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- LPG Tanker Industry Suppliers
- LPG Tanker Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
Analyst access with Bekryl Market Analysts
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