Large LNG Carrier Market Expands Amid Global LNG Trade Growth and Energy Security Initiatives | Valuates Reports

Large LNG Carrier Market Size
The global market for Large LNG Carrier was valued at US$ 12860 million in the year 2024 and is projected to reach a revised size of US$ 15320 million by 2031, growing at a CAGR of 2.6% during the forecast period.

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The Large LNG Carrier market plays a critical role in the global liquefied natural gas supply chain, enabling long-distance transportation of LNG from production hubs to high-demand regions. Market expansion is strongly supported by rising global LNG consumption, energy security diversification away from coal and pipeline gas, and long-term LNG supply contracts signed across Asia-Pacific and Europe.

By type, large LNG carriers with capacities of 100,000 CBM and above dominate the market, as they offer superior economies of scale, lower per-unit transportation costs, and compatibility with modern liquefaction and regasification terminals. Vessels below 100,000 CBM serve niche routes and regional distribution needs but account for a smaller share of newbuild orders.

From an application perspective, lease-based deployment represents the largest and fastest-growing segment, driven by energy companies and LNG traders favoring chartered fleets to maintain flexibility and reduce capital expenditure. Personal or owned-use carriers remain important for national energy companies and vertically integrated LNG producers, particularly those securing long-term export-import routes.

On the production side, South Korea, Japan, and China dominate LNG carrier shipbuilding, benefiting from advanced shipyard infrastructure, proprietary containment systems, and strong order backlogs. South Korea remains the global leader in high-capacity LNG carrier construction, while China is rapidly increasing its share through technology transfer and aggressive capacity expansion.

In terms of consumption, Asia-Pacific remains the largest LNG carrier demand center, led by China, Japan, South Korea, and emerging demand from India. Europe has experienced a structural surge in LNG imports, reinforcing long-term demand for large LNG carriers, while North America continues to play a pivotal role as a major LNG exporter and fleet charterer.

The competitive landscape is highly consolidated, with Hanwha Ocean (formerly DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries leading in advanced LNG carrier construction. Hudong-Zhonghua Shipbuilding and China Merchants Group are strengthening China's position in the global market, while Mitsubishi Heavy Industries contributes specialized engineering and propulsion technologies. Overall, the Large LNG Carrier market is expected to witness sustained growth, supported by expanding LNG trade volumes, decarbonization-driven fuel switching, and continued investment in next-generation, fuel-efficient LNG vessels.

by Type

• Below 100,000 CBM
• 100,000 CBM and above

by Application

• Personal Use
• Lease

By Company

Hanwha Ocean, HHI, Samsung Heavy, Hudong-Zhonghua Shipbuilding, China Merchants Group, Mitsubishi Heavy Industries

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This release was published on openPR.