China Lpg Tanker Market Size & Outlook, 2022-2030
China lpg tanker market, 2017-2030 (US$M)
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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 2022 | USD 14.2 million |
| Market revenue in 2030 | USD 19.0 million |
| Growth rate | 3.7% (CAGR from 2022 to 2030) |
| Largest segment | Very large gas carriers |
| Fastest growing segment | Medium 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, 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 Scope
LPG Tanker Market Companies
| Name | Profile | # Employees | HQ | Website |
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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)
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