LPG Tanker Market is expected to reaching nearly USD 289.72 Mn by 2030

𝐋𝐏𝐆 𝐓𝐚𝐧𝐤𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at USD 201.82 Mn. in 2023 and the total revenue is expected to grow at a CAGR of 5.3% from 2024 to 2030, reaching nearly USD 289.72 Mn. As LPG replaces more of the traditional energy source, the requirement for the transport of LPG, especially by way of tanker vessels, will increase. The growth of this market is primarily driven by government policies favouring the promotion of LPG as a cleaner fuel alternative to other fossil fuels and the trend towards energy diversification in emerging economies.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐋𝐢𝐧𝐤 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬:https://www.maximizemarketresearch.com/request-sample/116990/

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐚𝐧𝐝 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐮𝐬

Rising demand for LPG globally especially in Asia-Pacific, the Middle East, and Europe is primarily attributing to the growth of LPG tanker market. However, as countries begin the transition away from coal and oil, more and more people are turning to LPG as an alternative energy source. With cleaner emissions and higher energy efficiency than traditional fuels, the demand for LPG in residential and commercial cooking and heating, as well as industrial applications, is expected to increase over the forecast period.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The global LPG tanker market is broken down by type, size, application and region.

𝐁𝐲 𝐓𝐲𝐩𝐞 - LPG Tankers are broadly classified into 2 major categories, Pressurized and Fully Refrigerated LPG Tankers. For small quantities of LPG, pressurized tankers are used as they are functioning in moderate pressure conditions. Such tankers are usually used for domestic use and regional transportation. In comparison, fully refrigerated tankers employ low temperature for long-haul transportation of LPG in bulk amounts (i.e. stored in its liquid-state). The refrigerated tanker segment is projected to witness significant growth owing to their high demand for large scale LPG transportation.

𝐆𝐞𝐭 𝐭𝐨 𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲:https://www.maximizemarketresearch.com/market-report/global-lpg-tanker-market/116990/

𝐁𝐲 𝐒𝐢𝐳𝐞: The LPG tanker market by size has been segmented as large, medium, and small-sized tankers. VLGCs, or Very Large Gas Carriers, are huge LPG tankers that are able to hold large volumes of LPG, especially good for long-distanced shipping. The demand for medium and small-sized tankers is emanating from the various end-use sectors owing to the flexibility of tankers for movement of liquids over short to medium-range.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧: LPG tankers are used in residential, commercial, industrial and transport sectors Under the residential application, LPG tanker origins LPG for cooking as well as heating use. LPG tankers are also among the LPG-intensive sectors in manufacturing processes in the commercial and industrial areas, where it is being used for heating and as an industrial fuel. Additionally, the transportation sector is experiencing a higher demand for LPG vehicles resulting in growing transportation demands of LPG as well.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬: LPG tanker market can be segmented into North America, Europe, Asia-pacific, Latin America, Middle East & Africa. Asia-pacific dominates the market with much of the share because of growing penetration of LPG in countries like India, china and Japan. LPG occupies a significant share of the market in households, industry, and transportation in these nations. Middle East & Africa is another major region due to its high capacity of LPG generation and export market. LPG is increasingly used in commercial and residential applications due to the demand for clean energy sources in North America and Europe.

𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐋𝐞𝐯𝐞𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: Domestic LPG production, especially from shale gas, makes the US a behemoth in the world of LPG tanker market With a significant role in international LPG trade, the U.S. is a net LPG exporter. Increasing application of LPG in transportation, especially in autogas vehicles will also fuel the demand for LPG tankers.

𝐂𝐡𝐢𝐧𝐚: China is among one of the largest countries to consume LPG across the globe followed by residential cooking and heating. Demand for LPG tankers has been spurred by the growth of the local industrial base and the shift to cleaner energy sources in the country. China is also expanding its LPG infrastructure with new storage and transportation networks as domestic demand continues to grow.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐋𝐢𝐧𝐤 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.maximizemarketresearch.com/request-sample/116990/

𝐈𝐧𝐝𝐢𝐚: India is one of the fastest-growing markets of LPG, largely due to initiatives taken by the government through programs such as the Pradhan Mantri Ujjwala Yojana to provide LPG connections to millions of households. In addition, increasing industrial demand for LPG is driving demand for LPG tankers in the country.

𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭: The Middle East is a significant LPG producer and exporter, which makes it an important portion of global LPG tanker market. Growth in LPG tankers transporting toward these markets results from the expansion of LPG production capacity in countries such as Saudi Arabia and Qatar (see Fig.1). The region will remain an important hub for LPG exports helping to support ongoing LPG tanker demand.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐨𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The global LPG tanker market consists of several international and regional players. TOP COMPANIES IN THE LPG TANKER MARKET- The Chief players of LPG tanker includes:

𝐓𝐞𝐞𝐤𝐚𝐲 𝐋𝐍𝐆 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬 𝐋.𝐏.: This company provides one of the largest fleets of fully refrigerated gas carriers and is among the industry leaders in the LPG (Liquefied Petroleum Gas) tanker market. Hanas also has a prominent role in the global LPG transportation business, with an emphasis on the design of large-scale tankers for long-distance transport.

𝐒𝐜𝐨𝐫𝐩𝐢𝐨 𝐓𝐚𝐧𝐤𝐞𝐫𝐬 𝐈𝐧𝐜.: Scorpio Tankers has one of the largest fleets of product tankers in the world, and is one of the global leaders in LPG transportation. The firm offers affordable and flexible transport solutions.

𝐁𝐖 𝐆𝐫𝐨𝐮𝐩 - One of the key players in the gas shipping industry, operating a fleet of LPG and LNG tankers. Specializing in the transportation of liquefied gases, the company has invested a lot in the expansion of the LPG carrier fleet driven by high demand.

𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞 𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

LPG is a clean and high-quality energy source widely used in residential, commercial and industrial facilities which is expected to boost LPG tanker market globally. The demand for LPG in emerging economies is increasingly receiving wider adoption with the advent of transportation infrastructure which now another major factor creating new opportunities for stakeholders involved in LPG tankers market. The demand for LPGs will increase as the world shifts to cleaner energy, thus, companies involved in this space will continue to have long-term growth opportunities. The growing demand for economically viable large scale LPG transportation will grow the LPG market over the next several years, further benefitting LPG producers and consumers throughout the world.

𝐅𝐨𝐫 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐯𝐢𝐬𝐢𝐭:

♦ Hydrogen Market https://www.maximizemarketresearch.com/market-report/hydrogen-market/190122/

♦ Nut Oil Market https://www.maximizemarketresearch.com/market-report/nut-oil-market/193892/

♦ Polycarbonate Composites Market https://www.maximizemarketresearch.com/market-report/polycarbonate-composites-market/195018/

♦ Flow Chemistry Market https://www.maximizemarketresearch.com/market-report/flow-chemistry-market/201415/

♦ Ethylene Carbonate Market https://www.maximizemarketresearch.com/market-report/global-ethylene-carbonate-market/6324/

♦ Industrial Gases Market https://www.maximizemarketresearch.com/market-report/global-industrial-gases-market/30958/

♦ Sealants Market https://www.maximizemarketresearch.com/market-report/global-sealants-market/113081/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

𝐌𝐀𝐗𝐈𝐌𝐈𝐙𝐄 𝐌𝐀𝐑𝐊𝐄𝐓 𝐑𝐄𝐒𝐄𝐀𝐑𝐂𝐇 𝐏𝐕𝐓. 𝐋𝐓𝐃.

⮝ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
✆ +91 9607365656
🖂 sales@maximizemarketresearch.com
🌐 www.maximizemarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.