Canada Lpg Tanker Market Size & Outlook, 2022-2030
Canada lpg tanker market, 2017-2030 (US$M)
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Canada lpg tanker market highlights
- The Canada lpg tanker market generated a revenue of USD 10.2 million in 2022 and is expected to reach USD 14.4 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.4% from 2023 to 2030.
- In terms of segment, large gas carriers was the largest revenue generating vessel size in 2022.
- Small Gas Carriers is the most lucrative vessel size segment registering the fastest growth during the forecast period.
Lpg tanker market data book summary
| Market revenue in 2022 | USD 10.2 million |
| Market revenue in 2030 | USD 14.4 million |
| Growth rate | 4.4% (CAGR from 2022 to 2030) |
| Largest segment | Large gas carriers |
| Fastest growing segment | Small Gas Carriers |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Canada accounted for 5.4% of the global lpg tanker market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. lpg tanker market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 14.4 million by 2030.
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LPG Tanker Market Scope
LPG Tanker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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.
Large gas carriers was the largest segment with a revenue share of 26.47% in 2022. Horizon Databook has segmented the Canada 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.
Propane or LPG, recognized under the Alternative Fuels Act of Canada, is widely used as a cost-effective alternative fuel to power vehicle fleets in the country. The usage of propane results in less greenhouse gas emissions.
Moreover, it has lower sulfur content and can start in temperatures as low as -40°C than gasoline. This results in a surged demand for LPG-retrofitted vehicles in Canada. The increasing demand for propane as an alternative fuel in vehicles in Canada has led to mergers and acquisitions between storage equipment manufacturers and gasoline to propane vehicle-customizing companies.
For instance, in December 2019, Maxquipa, a distributor of equipment used for the measurement, application, transfer, and storage of gases, acquired Canso Auto, an Ontario-based specialist that converts gasolinerun cars and trucks to vehicles that run on Autogas, also known as Autogas LPG.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada lpg tanker market , including forecasts for subscribers. This country databook contains high-level insights into Canada lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Canada lpg tanker market size, by vessel size, 2017-2030 (US$M)
Canada LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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