Middle East & Africa Lpg Tanker Market Size & Outlook
Middle East & Africa lpg tanker market, 2017-2030 (US$M)
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MEA lpg tanker market highlights
- The MEA lpg tanker market generated a revenue of USD 28.4 million in 2022.
- The market is expected to grow at a CAGR of 8.8% 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, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 28.4 million |
| Market revenue in 2030 | USD 55.9 million |
| Growth rate | 8.8% (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, MEA region accounted for 15.0% 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.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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LPG Tanker Market Scope
LPG Tanker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 29.23% in 2022. Horizon Databook has segmented the Middle East & Africa 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 Middle East has surplus reserves of crude oil and natural gas; hence, the usage of gasoline for automobiles is predominant in the region. However, high carbon emissions resulting from the burning of gasoline are expected to lead to demand for clean energy sources such as LPG in the Middle East.
The LPG market in this region has players such as Kuwait National Petroleum, SABIC, and Abu Dhabi Oil Refining Company, which deliver most of the LPG to the Asian market. India and China are leading importers of LPG from the Middle East that is widely used for cooking applications. In January 2022, Matrix Gas (Ghana) opened a new 6,000-ton LPG storage terminal in Tema, increasing trade volumes of LPG and controlling its import volumes in Ghana.
The new terminal is expected to enhance the supply of LPG in the country, thus fueling the growth of the market for LPG tankers in Ghana. Moreover, Sage Trading Group Ltd., General Electric, and Early Power Limited are developing a 400MW LPG fueled combined-cycle power plant.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa lpg tanker market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA lpg tanker market size, by country, 2017-2030 (US$M)
Middle East & Africa LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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