Asia Pacific Lpg Tanker Market Size & Outlook, 2022-2030
Asia Pacific lpg tanker market, 2017-2030 (US$M)
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Asia Pacific lpg tanker market highlights
- The Asia Pacific lpg tanker market generated a revenue of USD 50.8 million in 2022.
- The market is expected to grow at a CAGR of 4.4% from 2023 to 2030.
- In terms of segment, very large gas carriers was the largest revenue generating vessel size in 2022.
- Medium Gas Carriers is the most lucrative vessel size segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 50.8 million |
| Market revenue in 2030 | USD 71.8 million |
| Growth rate | 4.4% (CAGR from 2022 to 2030) |
| Largest segment | Very large gas carriers |
| Fastest growing segment | Medium Gas Carriers |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Very Large Gas Carriers, Large Gas Carriers, Medium Gas Carriers, Small Gas Carriers |
| Key market players worldwide | BW LPG Ltd, Dorian LPG Ltd, Exmar NV, Kawasaki Heavy Industries Ltd, Mitsubishi Heavy Industries Ltd, Namura Shipbuilding Co Ltd, StealthGas Inc, Hyundai Heavy Industries, PT Pertamina, Great Eastern Shipping Co. |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 26.7% of the global lpg tanker market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 55.9 million by 2030.
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LPG Tanker Market Scope
LPG Tanker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific lpg tanker market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lpg tanker market will help companies and investors design strategic landscapes.
Very large gas carriers was the largest segment with a revenue share of 30.31% in 2022. Horizon Databook has segmented the Asia Pacific lpg tanker market based on very large gas carriers, large gas carriers, medium gas carriers, small gas carriers covering the revenue growth of each sub-segment from 2017 to 2030.
In terms of revenue, Asia Pacific accounted for the second-largest share of 26.98% in the global LPG tanker market in 2021. The market in this region is led by China, Japan, and India. More than 70% of the LPG tankers in the world are manufactured in the Asia Pacific region, specifically in South Korea and Japan.
The countries in the Asia Pacific region are largely developing countries that are undergoing rapid industrialization. The demand for LPG tankers is expected to increase as the need for LPG expands from just residential to industrial and transportation uses as well. The high growth rate of industries across China, Japan, and India has driven the demand for LPG tankers in these countries.
There are no large gas pipelines in the Asia Pacific region similar to those in Europe. Instead, the countries in the Asia Pacific region rely on importing LPG via ship route from countries across the world to meet their demand. As transportation by sea route is much more accessible in this region, this is expected to foster the demand for LPG tankers in the region during the forecast period.
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Our clientele includes a mix of lpg tanker market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific lpg tanker market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific lpg tanker market size, by country, 2017-2030 (US$M)
Asia Pacific LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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