South Africa Lpg Tanker Market Size & Outlook, 2022-2030
South Africa lpg tanker market, 2017-2030 (US$M)
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South Africa lpg tanker market highlights
- The South Africa lpg tanker market generated a revenue of USD 2.7 million in 2022 and is expected to reach USD 4.9 million by 2030.
- The South Africa market is expected to grow at a CAGR of 7.9% 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 2.7 million |
| Market revenue in 2030 | USD 4.9 million |
| Growth rate | 7.9% (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, South Africa accounted for 1.4% 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 Middle East & Africa, Saudi Arabia lpg tanker market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 19.0 million by 2030.
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LPG Tanker Market Scope
LPG Tanker Market Companies
| Name | Profile | # Employees | HQ | Website |
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South 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 25.93% in 2022. Horizon Databook has segmented the South 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 electricity shortfalls in South Africa and the recent price increase have highlighted the requirement of diversifying the energy mix of the country. In April 2021, the Ministry of Mineral Resources and Energy of South Africa published an LPG rollout strategy focused on utilizing LPG for cooking and heating applications, as well as for electricity generation in the country.
However, the local production of LPG from all refineries of South Africa is inadequate to meet its local demand. This leads to the surged requirement for LPG imports in the country. The plan to power electricity grids using LPG and the risen LPG imports to cater to its demand in South Africa are expected to drive the growth of the market for LPG tankers in the country over the forecast period.
In October 2020, Bidvest, a South Africa-based gas distribution company, and Petredec Pte Limited commissioned a 22,600 tonnes mounded LPG storage facility, which has 24-hour road tanker and railcar loading facilities. The facility witnessed the first delivery of LPG on a Petredec Pte Limited gas carrier from the Gulf of Mexico in October 2020.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa lpg tanker market , including forecasts for subscribers. This country databook contains high-level insights into South Africa lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa lpg tanker market size, by vessel size, 2017-2030 (US$M)
South Africa LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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