Europe Lpg Tanker Market Size & Outlook, 2022-2030
Europe lpg tanker market, 2017-2030 (US$M)
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Europe lpg tanker market highlights
- The Europe lpg tanker market generated a revenue of USD 56.1 million in 2022.
- The market is expected to grow at a CAGR of 5.7% 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.
- Country-wise, Italy is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 56.1 million |
| Market revenue in 2030 | USD 87.4 million |
| Growth rate | 5.7% (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, Europe region accounted for 29.5% 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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Europe 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 28.52% in 2022. Horizon Databook has segmented the Europe 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.
The European market comprises Germany, the UK, Spain, Italy, France, and Russia. The European LPG tanker market is expected to witness robust growth as the region is a major cusp of technological transformation. Various governments in Europe are strongly pushing for a change in their energy ecosystems with the adoption of advanced and effective technologies, which is expected to propel the growth of LPG tankers in the region.
Europe is in the process of decarbonizing commercial and residential heating to keep up with the COP21 resolution of keeping global warming below 2°C. LPG and LNG are the clear alternatives to oil and coal heating. The demand for LPG, as well as LPG carriers, is expected to grow in Europe in the coming years.
Europe has a strong foothold in the global LPG tanker market. The European Union (EU) has taken several initiatives to support the growth of the energy sector. The LPG Tanker market is expanding through mergers and acquisitions by mainstay industry players as well as through the establishment of startups.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe lpg tanker market , including forecasts for subscribers. This continent databook contains high-level insights into Europe lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe lpg tanker market size, by country, 2017-2030 (US$M)
Europe LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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