South Korea Lpg Tanker Market Size & Outlook, 2022-2030
South Korea lpg tanker market, 2017-2030 (US$M)
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South Korea lpg tanker market highlights
- The South Korea lpg tanker market generated a revenue of USD 5.6 million in 2022 and is expected to reach USD 7.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.1% 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 5.6 million |
| Market revenue in 2030 | USD 7.7 million |
| Growth rate | 4.1% (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 Korea accounted for 3.0% 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 Asia Pacific, China lpg tanker market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 16.0 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 Korea 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 30.36% in 2022. Horizon Databook has segmented the South Korea 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.
South Korea is one of the major markets for LPG tankers in the Asia Pacific region. South Korea is the largest manufacturer of LPG tankers in the world, with Korean companies accounting for about 70% of LPG tanker orders in 2021.
Rapid growth in customer base, increasing adaptability, and surge in government investments have helped South Korea make rapid strides in the market. The country is focusing on the petrochemical and oil & gas industry and also accelerating the efforts to promote LPG tankers for the transportation of fuel.
The South Korean Ministry of Energy launched a coexistent development committee that will be responsible for the growing activities of the LPG tankers industry in South Korea. This committee consists of 20 individuals from various industries, research firms, and academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea lpg tanker market , including forecasts for subscribers. This country databook contains high-level insights into South Korea lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea lpg tanker market size, by vessel size, 2017-2030 (US$M)
South Korea LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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