The global LPG tanker market size is estimated to be valued USD 295.5 million by 2027. The market is projected to grow at 6.0% CAGR over the forecast duration. Supportive initiatives by governments to replace the coal as a fuel owing to increasing concern pertaining to greenhouse gas emission are anticipated to drive the market growth over the forecast years.
Other factors such as increasing shale gas production and rising trade of LPG owing to its increasing use as a cooking gas are supplementing the growth of the LPG tankers. Volatility in crude oil prices and the advent of new technology in the production of LPG is further estimated to proliferate the market growth.
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Europe was the leading shareholders followed by the Asia Pacific in 2019. Further, Asia Pacific is projected to register the significant growth over the forecast duration owing to the increasing demand for LPG as cooking gas in emerging countries such as India, Bangladesh, Pakistan and China.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 LPG Tanker Market: Market Variables, Trends & Scope
Chapter 4 LPG Tanker Market: Product Estimates & Trend Analysis
Chapter 5 LPG Tanker Market: Application Estimates & Trend Analysis
Chapter 6 LPG Tanker Market: End-use Estimates & Trend Analysis
Chapter 7 LPG Tanker Market: Industrial End-use Estimates & Trend Analysis
Chapter 8 LPG Tanker Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 LPG Tanker Market: Manufacturers Company Profiles
COVID-19 Impact Analysis
The market has been adversely affected owing to the COVID-19 outbreak. International lockdowns caused due to the pandemic has led to the disruption of the supply chain of LPG gas. LPG gas production is a labor-intensive procedure and requires the significant workforce. However, COVID-19 has led to the shortage of workforce, thereby, negatively affecting the LPG production.
However, with the resumption of various economic activities, the market is estimated to recover within a couple of years. Key players should focus on merger & acquisition and partnerships to strengthen their position in the market.
Top Key Players of Global LPG Tanker Market :
are STX Corporation, Kuwait Oil Tanker Company, EXMAR, Epic Gas Ltd, DSME, BW Group, StealthGas Inc., MITSUBISHI HEAVY INDUSTRIES, LTD., Dorian LPG Ltd.
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