Latin America Lpg Tanker Market Size & Outlook, 2022-2030
Latin America lpg tanker market, 2017-2030 (US$M)
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Latin America lpg tanker market highlights
- The Latin America lpg tanker market generated a revenue of USD 7.3 million in 2022.
- The market is expected to grow at a CAGR of 4.2% 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, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 7.3 million |
| Market revenue in 2030 | USD 10.1 million |
| Growth rate | 4.2% (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, Latin America region accounted for 3.8% 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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Latin America 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 28.77% in 2022. Horizon Databook has segmented the Latin America 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 stagnant natural gas production in Central & South America and the lack of industrial capacity of the region have resulted in its dependency on imports of LPG used for cooking applications from Saudi Arabia, Algeria, and the U.S.
Countries such as Argentina and Bolivia are also emerging as producers of LPG that can further fuel the growth of the market for LPG tankers in Central & South America. Moreover, the benefits offered by Autogas or LPG in reducing vehicle emissions have prompted gas distribution companies in the region to include LPG as a fuel in their distribution fleets.
For instance, in July 2019, Gasco, a Chile-based gas distributor, launched a new distribution fleet of heavy vehicles and light vehicles that runs on LPG. Thus, the rising adoption of LPG is expected to positively impact LPG exports from Central & South America, thereby driving the growth of the market for LPG tankers in the region over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America lpg tanker market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America lpg tanker market size, by country, 2017-2030 (US$M)
Latin America LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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