LPG Tanker Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Energy and Power | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC399

Introduction

The high rate of production of shale gas in some parts of the world will act as high-impact driver for the growth of LPG tanker market. This market is expected to grow at a rapid pace. Due to the high production rate of shale gas, there has been an unprecedented rise in LPG trade. Also, there is a high demand for LPG for cooking and HVAC applications, thereby fueling the demand for safe transportation and storage of LPG. In general, there has been an increase in the activities related to energy commodities across the globe, thereby driving the growth of this market. Thus, the demand for LPG tankers is expected to rise at a high pace. A number of LPG carries and tanker firms have initiated or completed the expansion of their capacities.

Market Dynamics

Factors such as rise in international gas trade, increased shale gas production from untapped reserves, and continued usage of LPG as a cooking fuel is boosting the growth of LPG tankers market. The volatility in crude oil prices has also driven the industry towards extracting oil and shale gas. This has been carried out on a large scale owing to the technological improvements in excavating practices. There has been an upsurge in shale gas amount being transported from the U.S. to other regions such as Asia-Pacific and North Africa. High demand for LPG for cooking is fuelling the growth of this market further. The transportation costs have reduced owing to the decline in oil prices, and as a result the market for LPG transportation is catching momentum. However, the unpredictable behavior of crude oil prices has led to the high prices of LPG, thereby hampering the demand to some extent.

Market Classification and Segment Overview

By type, the LPG gas tankers can be categorized into fully pressurized, semi-pressurized or fully refrigerated. The ethylene gas carriers are regarded as a separate element in the market as they require extra refrigeration. The capacity of such carrier’s ranges from 500 cubic meters to over 10,000 cubic meters. Thus, the type of gas tanker selected depends on the LPG volume that is either to be stored or transported. By size, the LPG tankers market can be categorized as small, large, medium and very large gas carriers.

By geography, the global LPG market can be subdivided into: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA). As Middle East has been the fulcrum for oil production, the LPG gas tanker market in this region is large. However, due to the spike in production of shale oil in the U.S. and Canada, the gas and oil companies in these regions are spending huge amounts on transportation of the resource. Thus, it will lead to the rise in demand for LPG tankers in these countries. Technological improvements in the methods of extraction of gas have also added to the market growth. Also, there has been a constant high demand for energy in emerging APAC countries. This will result in the creation of multimillion dollar opportunities for the LPG tanker market in this region. In China, the petrochemical plants have led to the demand for LPG. There has been an unprecedented upsurge in the demand for LPG tankers for imports by India, thus leading to the huge growth of this market.

Report Coverage

Market

Global LPG Tanker Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Refrigeration Type, Tanker Size, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

The major market players in the LPG market include Navigator Holdings Ltd., EXMAR, Great Eastern Shipping Company Ltd., and Pertamina among others.

Market Segmentation

Market by Refrigeration Type

·         Fully pressurized

·         Semi-pressurized

·         Fully refrigerated

·         Ethylene gas carriers (Extra refrigerated)

Market by Tanker Size

·         Small gas carriers (SGC)

·         Medium gas carriers (MGC)

·         Large gas carriers (LGS)

·         Very large gas carriers (VLGC) 

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


Related Reports

Wind Turbine Operations & Maintenance Market - (By Application- Offshore, Onshore)- Global Industry Size, Share, Trends, and Forecast, 2018-2026

Introduction Wind turbine operations and maintenance is the services of maintaining the smooth working of the wind turbines. It is one of the most prominent segment and business having a huge opportunity in the near future. During last few years, increase in attention toward renewable and nonconventional source of energy has led to increased in the demand for the various mainten

Molten Carbonate Fuel Cell (MCFC) Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Molten carbonate fuel cells (MCFCs) uses biogas and natural gas as fuel and can be operated at high temperature. MCFC permits non-precious materials for using as catalyst on both cathode and anode leading to reduction in cost. Molten carbonate fuel cells are 50% to 60% effective at transforming fuel to electricity and it can be improved by seizing the leftover heat.

Superconducting Magnetic Energy Storage (SMES) Systems Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Superconducting Magnetic Energy Storage (SMES) systems stock energy in magnetic field generated by the stream of direct current in superconducting coil that has cryogenically cooled to particular temperature beneath its superconducting critical temperature. A typical SMES system includes three parts such as cryogenically cooled refrigerator, power conditioning syste

Renewable Energy Investment Market Analysis- Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Renewable energy is produced from natural resources that comprise tidal power, geothermal, biomass, wind, wave and solar. Corporate enterprises and national governments are making hefty funding to enhance and develop fresh renewable energy sources. These resources produce great amounts of energy and evade greenhouse gases that subsidize to climate change.

Marine Power Systems Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Marine power describes the energy producing process through oceans and it can also be termed as hydroelectricity. Through oceans huge amount of energy can be obtained as it is an accessible recourse to produce energy. Tidal power and wave power are different sources that encompass marine power. Various forms such as waves, salinity gradients, fluid flow, and thermal

Liquid Natural Gas Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 – 2026

Introduction Liquefied Natural Gas (LNG) is natural gas which has been converted into liquid form from gaseous state. LNG takes up 600 times fewer spaces than natural gas present in gaseous state, and it is much easier to transport or store. Increasing focus on improvement and expanding gas pipeline infrastructure and escalating mandate for natural gas from oil and gas industry

Cart Summary