China Lpg Tanker Market Size & Outlook, 2022-2030

The lpg tanker market in China is expected to reach a projected revenue of US$ 19.0 million by 2030. A compound annual growth rate of 3.7% is expected of China lpg tanker market from 2023 to 2030.
Revenue, 2022 (US$M)
$14.2
Forecast, 2030 (US$M)
$19.0
CAGR, 2023 - 2030
3.7%
Report Coverage
China

China lpg tanker market highlights

  • The China lpg tanker market generated a revenue of USD 14.2 million in 2022 and is expected to reach USD 19.0 million by 2030.
  • The China market is expected to grow at a CAGR of 3.7% 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.


Lpg tanker market data book summary

Market revenue in 2022USD 14.2 million
Market revenue in 2030USD 19.0 million
Growth rate3.7% (CAGR from 2022 to 2030)
Largest segmentVery large gas carriers
Fastest growing segmentMedium Gas Carriers
Historical data2017 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationVery Large Gas Carriers, Large Gas Carriers, Medium Gas Carriers, Small Gas Carriers
Key market players worldwideBW 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, China accounted for 7.5% 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 Asia Pacific, China lpg tanker market is projected to lead the regional market in terms of revenue in 2030.
  • India is the fastest growing regional market in Asia Pacific and is projected to reach USD 16.0 million by 2030.

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LPG Tanker Market Companies

Name Profile # Employees HQ Website

China 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 32.39% in 2022. Horizon Databook has segmented the China 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 China, the demand for LPG tankers arises majorly from the oil & gas and petrochemical industries. The country proves to be an important hub for both the production and consumption of LPG, which is expected to boost the LPG tanker market in a significant manner.

China is developing into a major LPG tanker manufacturing hub with many state-owned shipyards starting to manufacture LPG tankers. Kawasaki Heavy Industries has decided to move its LPG tanker production to China to better compete with Korean rivals and to meet the rising demand for LPG tankers.

Moreover, the Chinese government has developed strict standards for the major industries in the nation regarding the energy sector. These factors are expected to drive the demand for LPG tankers in the country over the coming years.

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Horizon Databook provides a detailed overview of country-level data and insights on the China lpg tanker market , including forecasts for subscribers. This country databook contains high-level insights into China lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.

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China lpg tanker market size, by vessel size, 2017-2030 (US$M)

China LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)

China lpg tanker market size, by vessel size, 2017-2030 (US$M)

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