Press release
LPG Tanker Market Overview, Trends, Opportunities, Growth and Forecast by 2027
Liquified petroleum gas (LPG) tanker includes insulated or refrigerated seagoing tank, small-pressurized tank, and semi-pressurized tank. It operates using a controllable-pitch propeller and geared-diesel set. It is mainly used for transporting petroleum gases, ammonia, vinyl chloride, and propylene in bulk quantities in various end-use industries across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
There is currently significant growth in the oil and gas industry around the world. This, in confluence with the rising shale gas production, represents one of the key factors bolstering the growth of the market. Apart from this, there is an increase in the demand for LPG tankers worldwide on account of the rising sales of heating, ventilation, and air condition (HVAC) systems. Moreover, LPG is increasingly being used as feedstock in the manufacturing of petrochemicals and fertilizers. Besides this, the market is also driven by technological advancements undertaken by leading players to expand their market reach.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global LPG tanker market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on vessel size and refrigeration and pressurization.
Breakup by Vessel Size:
Very Large Gas Carrier
Large Gas Carrier
Medium Gas Carriers
Small Gas Carrier
Breakup by Refrigeration and Pressurization:
Fully Pressurized
Semi-pressurized
Fully Refrigerated
Extra Refrigerated (Ethylene Gas Carriers)
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
BW Group
Dorian LPG Ltd.
EXMAR
Hyundai Heavy Industries Co. Ltd.
Kawasaki Heavy Industries Ltd.
Kuwait Oil Tanker Company S.A.K
Mitsubishi Heavy Industries Ltd
StealthGas Inc.
STX Corporation (Afc Mercury Co. Ltd)
The Great Eastern Shipping Co. Ltd
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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