LPG Tanker Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vessel Size (Very Large Gas Carrier, Large Gas Carrier, Medium Gas Carrier, and Small Gas Carrier), Refrigeration and Pressurization (Fully Pressurized, Semi-pressurized, Fully Refrigerated, and Extra Refrigerated), By Region, By Competition 2019-2029

  • Industry : Oil and Gas
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

 

Forecast Period

2025-2029

Market Size (2023)

USD 217 Billion

CAGR (2024-2029)

6.2%

Fastest Growing Segment

Large Gas Carrier

Largest Market

Asia Pacific

 

Market Overview

Global LPG Tanker Market was valued at USD 217 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.2% through 2029. In recent years, the global LPG tanker market has experienced robust growth, primarily propelled by the rising demand for liquefied petroleum gas (LPG) as a cleaner energy alternative across diverse sectors. Renowned for its versatility, cost-effectiveness, and reduced emissions compared to conventional fuels, LPG has garnered widespread adoption on a global scale, necessitating efficient transportation solutions. This surge in demand has significantly bolstered the LPG tanker market, playing a vital role in facilitating the transportation of this essential energy source along the supply chain. Contributing to the market's upward trajectory are factors such as the increasing consumption of LPG in residential, commercial, and industrial sectors, particularly in emerging economies.

Furthermore, the growing utilization of LPG as a substitute for traditional fuels in vehicles and as a feedstock in petrochemical production has further stimulated market expansion. Additionally, the escalating international trade of LPG has emphasized the importance of a well-established and extensive fleet of LPG tankers. The market landscape is characterized by key players continually investing in technological innovations to enhance vessel efficiency, safety standards, and environmental sustainability. However, challenges such as regulatory fluctuations, volatile oil prices, and shifts in the energy sector pose considerations for stakeholders navigating this dynamic market environment. Nevertheless, the global LPG tanker market demonstrates promising prospects for sustained growth, driven by the increasing prominence of LPG as a versatile and environmentally conscious energy solution.

Key Market Drivers

Increasing LPG Demand in Residential and Commercial Sectors

The escalating demand for LPG as a clean and efficient fuel source in both residential and commercial sectors stands as a significant driver for the LPG tanker market's expansion. LPG's versatility, being a reliable energy source for heating, cooking, and other domestic applications, has propelled its consumption globally. In regions where access to natural gas infrastructure is limited, LPG emerges as a convenient alternative. Moreover, the commercial sector, including restaurants, hotels, and industries, increasingly relies on LPG for its cost-effectiveness and reduced environmental impact compared to other conventional fuels. This growing consumption necessitates an efficient and reliable means of transportation, thereby bolstering the demand for LPG tankers to transport this vital energy source.

Rising Industrial Usage and Petrochemical Applications

The burgeoning use of LPG as a feedstock in the production of petrochemicals and its extensive application in various industries serve as significant drivers for the LPG tanker market. Industries such as manufacturing, chemical, and pharmaceuticals rely on LPG for numerous processes due to its clean-burning nature and high calorific value. The increasing global demand for petrochemicals, coupled with the expansion of industrial activities in emerging economies, has amplified the requirement for a steady and efficient supply of LPG. Consequently, the market for LPG tankers experiences a surge in demand to transport bulk quantities of LPG to industries worldwide.

Transition to Cleaner Fuel Sources in Transportation

The shift towards cleaner and more sustainable fuel sources in the transportation sector has significantly contributed to the demand for LPG tankers. LPG serves as an environmentally friendly alternative fuel for vehicles, emitting lower levels of pollutants compared to traditional gasoline and diesel. This transition is particularly notable in regions incentivizing the adoption of cleaner fuels through regulatory policies and initiatives to reduce carbon emissions. As more vehicles and fleets switch to LPG, the need for efficient transportation methods through dedicated LPG tankers grows, driving the market forward.

Expanding International LPG Trade

The global trade of LPG has witnessed remarkable growth owing to increased production and consumption disparities among regions. Countries with surplus LPG production often export to regions facing shortages, creating a robust international trade network. This expansion in international trade necessitates an intricate logistics infrastructure, including a fleet of specialized LPG tankers to facilitate the seamless movement of LPG across borders. The demand for LPG tankers continues to rise in tandem with the flourishing global trade dynamics.

Technological Advancements in Tanker Design and Safety

Continuous advancements in LPG tanker design and safety standards constitute another driving force in the market. Stakeholders and industry players consistently invest in innovative technologies to enhance tanker efficiency, safety features, and environmental sustainability. These advancements include the development of double-hull tankers, advanced monitoring systems, and improved containment structures, ensuring safer and more efficient transportation of LPG. As regulatory bodies impose stricter safety standards, the demand for modernized LPG tankers compliant with these regulations rises, driving market growth while ensuring safer transportation practices.


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Key Market Challenges

Regulatory Changes and Compliance

One of the primary challenges confronting the global LPG tanker market is navigating the complexities of regulatory changes and compliance standards. The maritime industry continually faces evolving regulations aimed at enhancing safety, environmental sustainability, and operational efficiency. Compliance with stringent regulations set by international bodies like the International Maritime Organization (IMO) and national maritime authorities presents a significant challenge for tanker operators and stakeholders.

Regulations cover various aspects, including vessel design, emissions control, crew training, and operational procedures. For instance, regulations such as the IMO's MARPOL Annex VI limit air pollutants from ship exhausts, requiring vessels to adhere to strict emission control areas (ECAs). Compliance with these regulations often involves substantial investments in retrofitting existing vessels or building new ones with advanced technology to meet stringent emission standards. Adapting to these evolving regulations while maintaining operational efficiency poses a considerable challenge for stakeholders in the LPG tanker market.

Fluctuating Oil Prices and Market Volatility

The LPG market is intricately linked to the broader energy sector and is susceptible to fluctuations in oil prices and market volatility. As LPG is a byproduct of oil and gas production, its prices are inherently influenced by changes in the oil and gas markets. Fluctuating oil prices, influenced by geopolitical tensions, production levels, and global economic conditions, directly impact the cost of LPG production and transportation.

Volatility in LPG prices affects market dynamics, demand-supply equilibrium, and investment decisions across the LPG value chain. This volatility poses challenges for stakeholders, including tanker operators and investors, as they strive to predict market trends and make informed decisions amidst price fluctuations. Managing risks associated with price volatility and adapting business strategies to mitigate its impact remain significant challenges for participants in the LPG tanker market.

Evolving Energy Landscape and Competition

The evolving energy landscape, characterized by the emergence of alternative energy sources and shifting consumer preferences towards renewables, presents a notable challenge for the LPG tanker market. Increasing emphasis on renewable energy sources, such as solar, wind, and electric vehicles, alongside governmental initiatives promoting cleaner fuels, poses competition for LPG as a transitional fuel.

The competition from alternative energy sources necessitates strategic positioning and adaptation within the market. Additionally, the transition towards hydrogen as a potential clean energy source and advancements in energy storage technologies could impact the long-term demand for LPG. As the energy landscape continues to evolve, stakeholders in the LPG tanker market face the challenge of adapting to changing consumer preferences and technological advancements while ensuring the market's relevance and sustainability.

Geopolitical and Geoeconomic Factors

Geopolitical tensions, trade disputes, and geopolitical shifts significantly influence the global LPG trade and tanker market dynamics. Regional conflicts, sanctions on oil-producing nations, trade policies, and geopolitical alliances can disrupt the flow of LPG trade routes or impact market access. For instance, geopolitical tensions impacting major LPG-producing regions or transit chokepoints can lead to supply disruptions, affecting tanker operations and market stability. Moreover, trade policies, tariffs, or geopolitical developments altering trade relationships between LPG-exporting and importing nations can directly influence market conditions, trade volumes, and shipping routes. Navigating these geopolitical and geoeconomic uncertainties presents a substantial challenge for stakeholders in the LPG tanker market, requiring adaptability and risk management strategies to mitigate potential disruptions and ensure operational continuity.

Key Market Trends

Rising Adoption of LPG as a Clean Energy Source

A prominent trend shaping the global LPG tanker market is the increasing adoption of LPG as a cleaner energy source across diverse sectors. LPG, known for its lower emissions compared to traditional fuels, is witnessing heightened demand as industries and households seek more environmentally friendly alternatives. This trend is notably prominent in regions aiming to reduce carbon footprints and comply with stringent environmental regulations.

The versatility of LPG in residential, commercial, and industrial applications, including heating, cooking, and as a feedstock in various industries, is driving its popularity. Additionally, LPG's role as an alternative fuel for vehicles, especially in areas with limited access to electric or natural gas infrastructure, is contributing to its growing market presence. As a result, the increased demand for LPG as a clean and versatile energy source is directly influencing the need for efficient transportation methods, thus bolstering the demand for LPG tankers.

Technological Advancements in Tanker Design and Operations

Advancements in technology are revolutionizing the design and operations of LPG tankers, introducing efficiencies, safety enhancements, and environmental sustainability measures. Stakeholders in the LPG tanker market are increasingly investing in innovations to improve vessel efficiency, safety standards, and environmental performance.

Notable technological advancements include the development of more fuel-efficient propulsion systems, advanced monitoring and control systems, and improvements in cargo containment and handling. Additionally, the integration of digital technologies, such as IoT (Internet of Things) sensors and data analytics, enables real-time monitoring of vessel conditions, enhancing operational efficiency and safety.

Moreover, the introduction of eco-friendly propulsion technologies like LNG-fueled engines and hybrid propulsion systems is gaining traction, aligning with the industry's push for cleaner operations. These technological advancements not only improve the overall performance of LPG tankers but also contribute to reducing operational costs and environmental impact, thus driving market trends towards more sustainable practices.

Focus on Safety and Compliance Standards

Safety and compliance with stringent regulations remain a key focus within the LPG tanker market. Regulatory bodies and industry stakeholders are continuously striving to enhance safety standards and ensure adherence to stringent regulations governing vessel operations and environmental impact.

There is an increased emphasis on implementing safety protocols, crew training programs, and the adoption of state-of-the-art safety equipment onboard LPG tankers. Compliance with international regulations, including the International Maritime Organization's (IMO) guidelines and local maritime authorities' standards, remains paramount for industry players.

Additionally, advancements in technology are aiding compliance efforts, with the integration of automated safety systems, remote monitoring capabilities, and predictive maintenance tools. The focus on safety and compliance standards not only ensures operational integrity but also contributes to building trust among stakeholders and the public, positively impacting the market's reputation and reliability.

Global Trade Dynamics and Market Expansion

The dynamics of global LPG trade are undergoing significant shifts, influencing market trends within the LPG tanker industry. The expansion of LPG trade routes, driven by production surpluses in certain regions and growing demand in others, is reshaping market dynamics and trade patterns.

Increasing LPG exports from regions with abundant supply, such as the United States and the Middle East, to markets like Asia-Pacific and Europe, are creating new trade corridors. This expansion necessitates a robust and efficient fleet of LPG tankers to facilitate the transportation of bulk LPG across international waters.

Moreover, strategic partnerships and alliances between LPG-producing and consuming nations, coupled with investments in infrastructure development at key ports and terminals, are further enhancing the global trade network for LPG. As a result, the market trends indicate a continued focus on optimizing trade routes, improving logistical efficiency, and expanding market reach to meet the evolving demands of a globalized LPG trade landscape.

Sustainability Initiatives and Green Shipping Practices

The growing emphasis on sustainability and environmental responsibility is driving the adoption of green shipping practices within the LPG tanker industry. Stakeholders are increasingly integrating sustainability initiatives into their operations to reduce carbon emissions, minimize environmental impact, and promote eco-friendly practices. One notable trend is the exploration of alternative fuels and propulsion technologies to reduce greenhouse gas emissions. This includes investments in cleaner fuels such as LNG (liquefied natural gas) or the exploration of bio-LPG and hydrogen as potential alternatives for propulsion systems, aiming to reduce carbon footprints associated with vessel operations.

Additionally, the implementation of energy-efficient designs, eco-friendly coatings to minimize hull fouling, and the adoption of waste management systems onboard LPG tankers are becoming prevalent trends. Furthermore, initiatives promoting the use of shore-based power (cold ironing) and the integration of renewable energy sources onboard vessels are gaining traction, aligning with the industry's commitment to sustainable shipping practices. The convergence of sustainability goals, regulatory pressures, and stakeholder expectations is reshaping the operational landscape of LPG tankers, driving market trends towards more environmentally conscious and sustainable shipping practices.

Segmental Insights

Vessel Size Insights

The Large Gas Carrier (LGC) segment emerged as the dominant force in the Global LPG Tanker Market and is anticipated to sustain its dominance throughout the forecast period. LGCs, typically ranging between 35,000 to 85,000 cubic meters in capacity, held a substantial market share owing to their versatility, operational efficiency, and adaptability to various trade routes and port infrastructures. These vessels strike a balance between capacity and maneuverability, making them highly favorable for transporting liquefied petroleum gas (LPG) across both short-haul and long-haul routes. Their ability to access a wide range of ports while accommodating sizable LPG volumes positions them as the preferred choice for many stakeholders in the LPG supply chain. Additionally, the LGC segment benefits from economies of scale, allowing for cost-effective operations compared to larger vessels like Very Large Gas Carriers (VLGCs). Their operational flexibility, relatively lower construction and operating costs, and adaptability to diverse market demands render them well-positioned to maintain their dominance in the Global LPG Tanker Market. Moreover, ongoing technological advancements in LGC design, focusing on enhancing fuel efficiency, safety features, and environmental sustainability, further solidify their market prominence. As the industry strives for efficient and sustainable transportation solutions, the LGC segment's attributes and capabilities are expected to sustain its leadership, catering to the evolving demands of the LPG trade and reinforcing its dominant position within the market landscape.

Refrigeration and Pressurization Insights

The Fully Refrigerated segment stood out as the dominant force in the Global LPG Tanker Market and is poised to maintain its dominance in the forecast period. Fully Refrigerated LPG tankers, equipped with comprehensive cooling systems and insulation, cater to the transportation of large volumes of LPG at extremely low temperatures. Their ability to maintain the cargo in a fully refrigerated state throughout the voyage ensures the safe and efficient transport of LPG over longer distances and in various environmental conditions. This segment's dominance can be attributed to its capability to handle a wide range of LPG grades, including propane and butane, accommodating varying vapor pressures and temperature requirements. Fully Refrigerated vessels are preferred for their versatility in transporting different LPG compositions, allowing for flexibility in meeting diverse market demands. Furthermore, the stringent safety standards associated with the transportation of refrigerated LPG favor the use of these specialized vessels, ensuring the cargo's integrity and minimizing safety risks. As the industry focuses on maintaining cargo quality and adhering to stringent safety regulations, the attributes and reliability of Fully Refrigerated LPG tankers are expected to uphold their dominance in the Global LPG Tanker Market, providing efficient and secure transportation solutions for the foreseeable future.


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Regional Insights

The Asia-Pacific region emerged as the dominant force in the Global LPG Tanker Market and is anticipated to maintain its dominance throughout the forecast period. The dominance of the Asia-Pacific region in the Global LPG Tanker Market can be attributed to several key factors that underscore its pivotal role within the industry. Central to this dominance is the region's robust economic growth, rapid industrialization, and substantial energy demand. Countries within the Asia-Pacific, notably China, India, Japan, and South Korea, have experienced significant increases in LPG consumption across residential, commercial, and industrial sectors. This surge in demand has heightened the necessity for efficient and reliable transportation of LPG, thereby driving the demand for LPG tankers in the region. Moreover, Asia-Pacific's strategic geographical location as a hub for both LPG production and consumption facilitates extensive trade activities within the region and globally. The presence of major refineries and petrochemical plants, coupled with expanding distribution networks and supportive government policies promoting cleaner energy sources, further bolsters the region's position in the LPG market. Additionally, investments in infrastructure development, including port facilities and storage terminals, enhance the region's logistical capabilities for LPG transportation, ensuring smooth operations and efficient supply chain management. As the Asia-Pacific region continues to exhibit strong economic growth and increasing energy demands, coupled with sustained investments in energy infrastructure, it is well-positioned to maintain its dominance in the Global LPG Tanker Market. The region's pivotal role in the supply and distribution of LPG across international markets is expected to endure, further solidifying its status as a key player in the global energy landscape.

Recent Developments

  • In July 2023: Indonesia's Pertamina International Shipping (PIS) has reached an agreement to charter four LPG carriers, namely Gas Walio, Gas Widuri, Gas Arjuna, and Gas Ambalat, through its PIS Middle East subsidiary. The charter arrangement involves leasing these vessels to three separate companies.
  • In April 2023: China has recently achieved a significant milestone by delivering the world's largest dual-fuel LPG carrier, showcasing advanced design features inherent in these new vessels.

Key Market Players

  • BW LPG Limited
  • Avance Gas Holding Ltd.
  • Navigator Gas
  • Exmar NV
  • Mitsui O.S.K. Lines, Ltd. (MOL)
  • Nippon Yusen Kabushiki Kaisha (NYK Line)
  • Petredec Limited
  • Pacific Gas Pte Ltd
  • Dorian LPG Ltd.
  • StealthGas Inc.

By Vessel Size

By Refrigeration and Pressurization

 By Region
  • Very Large Gas Carrier
  • Large Gas Carrier
  • Medium Gas Carrier
  • Small Gas Carrier
  • Fully Pressurized,
  • Semi-pressurized
  • Fully Refrigerated
  • Extra Refrigerated
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global LPG Tanker Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • LPG Tanker Market, By Vessel Size:

o   Very Large Gas Carrier

o   Large Gas Carrier

o   Medium Gas Carrier

o   Small Gas Carrier

  • LPG Tanker Market, By Refrigeration and Pressurization:

o   Fully Pressurized

o   Semi-pressurized

o   Fully Refrigerated

o   Extra Refrigerated 

  • LPG Tanker Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Indonesia

§  Vietnam

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

§  Peru

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global LPG Tanker Market.

Available Customizations:

Global LPG Tanker market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Formulation of the Scope

2.4.  Assumptions and Limitations

2.5.  Sources of Research

2.5.1.    Secondary Research

2.5.2.    Primary Research

2.6.  Approach for the Market Study

2.6.1.    The Bottom-Up Approach

2.6.2.    The Top-Down Approach

2.7.  Methodology Followed for Calculation of Market Size & Market Shares

2.8.  Forecasting Methodology

2.8.1.    Data Triangulation & Validation

3.    Executive Summary

4.    Impact of COVID-19 on Global LPG Tanker Market

5.    Voice of Customer

6.    Global LPG Tanker Market Overview

7.    Global LPG Tanker Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Vessel Size (Very Large Gas Carrier, Large Gas Carrier, Medium Gas Carrier, and Small Gas Carrier)

7.2.2.    By Refrigeration and Pressurization (Fully Pressurized, Semi-pressurized, Fully Refrigerated, and Extra Refrigerated)

7.2.3.    By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.  By Company (2023)

7.4.  Market Map

8.    North America LPG Tanker Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Vessel Size

8.2.2.    By Refrigeration and Pressurization

8.2.3.    By Country

8.3.  North America: Country Analysis

8.3.1.    United States LPG Tanker Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Vessel Size

8.3.1.2.2.           By Refrigeration and Pressurization

8.3.2.    Canada LPG Tanker Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Vessel Size

8.3.2.2.2.           By Refrigeration and Pressurization

8.3.3.    Mexico LPG Tanker Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Vessel Size

8.3.3.2.2.           By Refrigeration and Pressurization

9.    Europe LPG Tanker Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Vessel Size

9.2.2.    By Refrigeration and Pressurization

9.2.3.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany LPG Tanker Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Vessel Size

9.3.1.2.2.           By Refrigeration and Pressurization

9.3.2.    France LPG Tanker Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Vessel Size

9.3.2.2.2.           By Refrigeration and Pressurization

9.3.3.    United Kingdom LPG Tanker Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Vessel Size

9.3.3.2.2.           By Refrigeration and Pressurization

9.3.4.    Italy LPG Tanker Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Vessel Size

9.3.4.2.2.           By Refrigeration and Pressurization

9.3.5.    Spain LPG Tanker Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Vessel Size

9.3.5.2.2.           By Refrigeration and Pressurization

9.3.6.    Belgium LPG Tanker Market Outlook

9.3.6.1.        Market Size & Forecast

9.3.6.1.1.           By Value

9.3.6.2.        Market Share & Forecast

9.3.6.2.1.           By Vessel Size

9.3.6.2.2.           By Refrigeration and Pressurization

10. South America LPG Tanker Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value

10.2.            Market Share & Forecast

10.2.1. By Vessel Size

10.2.2. By Refrigeration and Pressurization

10.2.3. By Country

10.3.            South America: Country Analysis

10.3.1. Brazil LPG Tanker Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Vessel Size

10.3.1.2.2.         By Refrigeration and Pressurization

10.3.2. Colombia LPG Tanker Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Vessel Size

10.3.2.2.2.         By Refrigeration and Pressurization

10.3.3. Argentina LPG Tanker Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Vessel Size

10.3.3.2.2.         By Refrigeration and Pressurization

10.3.4. Chile LPG Tanker Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Vessel Size

10.3.4.2.2.         By Refrigeration and Pressurization

10.3.5. Peru LPG Tanker Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By Vessel Size

10.3.5.2.2.         By Refrigeration and Pressurization

11. Middle East & Africa LPG Tanker Market Outlook

11.1.            Market Size & Forecast

11.1.1. By Value

11.2.            Market Share & Forecast

11.2.1. By Vessel Size

11.2.2. By Refrigeration and Pressurization

11.2.3. By Country

11.3.            Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia LPG Tanker Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Vessel Size

11.3.1.2.2.         By Refrigeration and Pressurization

11.3.2. UAE LPG Tanker Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Vessel Size

11.3.2.2.2.         By Refrigeration and Pressurization

11.3.3. South Africa LPG Tanker Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Vessel Size

11.3.3.2.2.         By Refrigeration and Pressurization

11.3.4. Turkey LPG Tanker Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Vessel Size

11.3.4.2.2.         By Refrigeration and Pressurization

11.3.5. Israel LPG Tanker Market Outlook

11.3.5.1.     Market Size & Forecast

11.3.5.1.1.         By Value

11.3.5.2.     Market Share & Forecast

11.3.5.2.1.         By Vessel Size

11.3.5.2.2.         By Refrigeration and Pressurization

12. Asia Pacific LPG Tanker Market Outlook

12.1.            Market Size & Forecast

12.1.1. By Value

12.2.            Market Share & Forecast

12.2.1. By Vessel Size

12.2.2. By Refrigeration and Pressurization

12.2.3. By Country

12.3.            Asia-Pacific: Country Analysis

12.3.1. China LPG Tanker Market Outlook

12.3.1.1.     Market Size & Forecast

12.3.1.1.1.         By Value

12.3.1.2.     Market Share & Forecast

12.3.1.2.1.         By Vessel Size

12.3.1.2.2.         By Refrigeration and Pressurization

12.3.2. India LPG Tanker Market Outlook

12.3.2.1.     Market Size & Forecast

12.3.2.1.1.         By Value

12.3.2.2.     Market Share & Forecast

12.3.2.2.1.         By Vessel Size

12.3.2.2.2.         By Refrigeration and Pressurization

12.3.3. Japan LPG Tanker Market Outlook

12.3.3.1.     Market Size & Forecast

12.3.3.1.1.         By Value

12.3.3.2.     Market Share & Forecast

12.3.3.2.1.         By Vessel Size

12.3.3.2.2.         By Refrigeration and Pressurization

12.3.4. South Korea LPG Tanker Market Outlook

12.3.4.1.     Market Size & Forecast

12.3.4.1.1.         By Value

12.3.4.2.     Market Share & Forecast

12.3.4.2.1.         By Vessel Size

12.3.4.2.2.         By Refrigeration and Pressurization

12.3.5. Australia LPG Tanker Market Outlook

12.3.5.1.     Market Size & Forecast

12.3.5.1.1.         By Value

12.3.5.2.     Market Share & Forecast

12.3.5.2.1.         By Vessel Size

12.3.5.2.2.         By Refrigeration and Pressurization

12.3.6. Indonesia LPG Tanker Market Outlook

12.3.6.1.     Market Size & Forecast

12.3.6.1.1.         By Value

12.3.6.2.     Market Share & Forecast

12.3.6.2.1.         By Vessel Size

12.3.6.2.2.         By Refrigeration and Pressurization

12.3.7. Vietnam LPG Tanker Market Outlook

12.3.7.1.     Market Size & Forecast

12.3.7.1.1.         By Value

12.3.7.2.     Market Share & Forecast

12.3.7.2.1.         By Vessel Size

12.3.7.2.2.         By Refrigeration and Pressurization

13. Market Dynamics

13.1.            Drivers

13.2.            Challenges

14. Market Trends and Developments

15. Company Profiles

15.1.            BW LPG Limited

15.1.1. Business Overview

15.1.2. Key Revenue and Financials  

15.1.3. Recent Developments

15.1.4. Key Personnel/Key Contact Person

15.1.5. Key Product/Services Offered

15.2.            Avance Gas Holding Ltd.

15.2.1. Business Overview

15.2.2. Key Revenue and Financials  

15.2.3. Recent Developments

15.2.4. Key Personnel/Key Contact Person

15.2.5. Key Product/Services Offered

15.3.            Navigator Gas

15.3.1. Business Overview

15.3.2. Key Revenue and Financials  

15.3.3. Recent Developments

15.3.4. Key Personnel/Key Contact Person

15.3.5. Key Product/Services Offered

15.4.            Exmar NV

15.4.1. Business Overview

15.4.2. Key Revenue and Financials  

15.4.3. Recent Developments

15.4.4. Key Personnel/Key Contact Person

15.4.5. Key Product/Services Offered

15.5.            Mitsui O.S.K. Lines, Ltd. (MOL)

15.5.1. Business Overview

15.5.2. Key Revenue and Financials  

15.5.3. Recent Developments

15.5.4. Key Personnel/Key Contact Person

15.5.5. Key Product/Services Offered

15.6.            Nippon Yusen Kabushiki Kaisha (NYK Line)

15.6.1. Business Overview

15.6.2. Key Revenue and Financials  

15.6.3. Recent Developments

15.6.4. Key Personnel/Key Contact Person

15.6.5. Key Product/Services Offered

15.7.            Petredec Limited

15.7.1. Business Overview

15.7.2. Key Revenue and Financials  

15.7.3. Recent Developments

15.7.4. Key Personnel/Key Contact Person

15.7.5. Key Product/Services Offered

15.8.            Pacific Gas Pte Ltd

15.8.1. Business Overview

15.8.2. Key Revenue and Financials  

15.8.3. Recent Developments

15.8.4. Key Personnel/Key Contact Person

15.8.5. Key Product/Services Offered

15.9.            Dorian LPG Ltd.

15.9.1. Business Overview

15.9.2. Key Revenue and Financials  

15.9.3. Recent Developments

15.9.4. Key Personnel/Key Contact Person

15.9.5. Key Product/Services Offered

15.10.         Stealth Gas Inc.

15.10.1.              Business Overview

15.10.2.              Key Revenue and Financials  

15.10.3.              Recent Developments

15.10.4.              Key Personnel/Key Contact Person

15.10.5.              Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global LPG Tanker Market was USD 217 Billion in 2023.

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The dominant segment in the Global LPG Tanker Market in 2023 was Fully Refrigerated.

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Asia Pacific stands as the dominant region in the Global LPG Tanker Market.

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The major drivers for the Global LPG Tanker Market include escalating LPG demand for residential, commercial, industrial use, its role as a clean transportation fuel, expanding international trade, and technological advancements in tanker design

Related Reports

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Parvati Sharma

Account Manager BD
Press Release

LPG Tanker Market is expected to register a CAGR of 6.2% during the forecast period

Feb, 2024

The rising demand for cleaner fuel sources and increased LPG trade is driving growth in the global LPG tanker market in the forecast period 2025-2029

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