North America Lpg Tanker Market Size & Outlook, 2022-2030
North America lpg tanker market, 2017-2030 (US$M)
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North America lpg tanker market highlights
- The North America lpg tanker market generated a revenue of USD 47.7 million in 2022.
- The market is expected to grow at a CAGR of 3.2% 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, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 47.7 million |
| Market revenue in 2030 | USD 61.3 million |
| Growth rate | 3.2% (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, North America region accounted for 25.1% 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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North 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 27.25% in 2022. Horizon Databook has segmented the North 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.
North America is one of the top exporters of LPG in the world after Qatar and Australia. This can be attributed to the presence of abundant proven reserves of shale gas in the region. According to the Observatory of Economic Complexity (OEC), North America accounted for a share of 15.0% of the global LPG exports valued at USD 40 billion in 2021.
Moreover, the demand for LPG in the U.S., Canada, and Mexico is expected to surge owing to its application as cooking fuel. LPG is also used in these countries for heating residential buildings during winters. It is also employed as an alternative fuel for powering vehicles.
This resulted in increased usage of LPG in cooking applications. Thus, the growing exports of LPG and its increasing consumption in North America are expected to fuel the demand 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 North America lpg tanker market , including forecasts for subscribers. This continent databook contains high-level insights into North America lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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North America lpg tanker market size, by country, 2017-2030 (US$M)
North America LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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