Global LPG Tanker Market Size | Anticipated Revenue US$289.72 Mn by 2030, CAGR 5.3% (2024-2030), Key Players: Namura Shipbuilding Co. Ltd., EXMAR
Maximize Market Research Announces Global LPG Tanker Market to Reach US$ 289.72 Million by 2030
Maximize Market Research, a leading provider of market research insights, has announced a comprehensive study on the Global LPG Tanker Market. The report forecasts the market to reach US$ 289.72 million by 2030, growing at a CAGR of 5.3% from 2024 to 2030.
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Market Overview
The LPG Tanker Market plays a critical role in the bulk transportation of liquefied petroleum gas (LPG). The market is driven by the increasing demand for LPG as a clean and efficient fuel source. Rising shale gas production and expanding trade ties between regions are expected to propel market growth further.
Market Dynamics
The LPG Tanker Market is influenced by several key factors:
Growth in Shale Gas Production: Shale gas production is anticipated to be a significant driver of market growth. The focus on alternative energy sources and advancements in hydraulic fracturing and horizontal drilling techniques are contributing to the rise in shale gas production, which necessitates efficient transportation through LPG tankers.
Expanding Trade Ties: Increasing trade ties between regions, particularly between the United States and the Asia Pacific for shale gas, are expected to drive demand for LPG tankers due to the cost-effectiveness of maritime transportation.
Market Segmentation
The LPG Tanker Market is segmented by Vessel Size and Refrigeration & Pressurization:
Vessel Size: The market is segmented into Very Large Gas Carriers (VLGC), Large Gas Carriers (LGC), Medium Gas Carriers (MGC), and Small Gas Carriers (SGC). VLGCs are expected to hold the largest market share due to their suitability for long-distance LPG transportation across countries.
Refrigeration & Pressurization: The market is segmented into Ethylene, Full Refrigerated, Semi-Refrigerated, and Full Pressurized. The Full Pressurized segment is anticipated to witness the fastest growth due to its ability to handle larger volumes of LPG efficiently.
Market Players
The report identifies leading players in the LPG Tanker Market, including StealthGas Inc., Dorian LPG Ltd., BW Group, Hyundai Heavy Industries Co. Ltd., Kawasaki Heavy Industries Ltd., DSME, Mitsubishi Heavy Industries Ltd., The Great Eastern Shipping Co. Ltd., and Kuwait Oil Tanker Company.
Competitive Landscape
The LPG Tanker Market exhibits a competitive landscape with established players and emerging participants. The Competitive Strategic Window section of the report analyzes the competitive landscape in terms of markets, applications, and geographies. This analysis helps companies identify potential growth opportunities and develop strategic approaches for market expansion.
Porter's Five Force Model
The report incorporates Porter's Five Force Model to provide insights into the competitive environment of the LPG Tanker Market. This model helps companies understand factors such as bargaining power of suppliers and buyers, the threat of new entrants and substitutes, and the intensity of competitive rivalry.
Covid-19 Impact
The report acknowledges the impact of the COVID-19 pandemic on the LPG Tanker Market. It analyzes the changes in consumer demand, purchasing behavior, and supply chain disruptions caused by the pandemic. The report also provides insights on the potential future trajectory of the market in the post-pandemic era.
Regional Insights
The report offers comprehensive regional insights to equip businesses with a global perspective of the LPG Tanker Market. It analyzes regional energy, economic, political, and geographic conditions to understand their influence on market growth. Maximize Market Research conducts high-resolution regional studies at the regional and country levels.
Availability of the Report
For more information on the LPG Tanker Market report, including a detailed table of contents and a comprehensive research methodology, please contact Maximize Market Research.
Tables and data about the " Global LPG Tanker Market " can be found in a comprehensive research study and an in-depth TOC: maximizemarketresearch.com/market-report/gl..
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