UK Lpg Tanker Market Size & Outlook, 2022-2030
UK lpg tanker market, 2017-2030 (US$M)
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UK lpg tanker market highlights
- The UK lpg tanker market generated a revenue of USD 8.5 million in 2022 and is expected to reach USD 10.5 million by 2030.
- The UK market is expected to grow at a CAGR of 2.6% 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 8.5 million |
| Market revenue in 2030 | USD 10.5 million |
| Growth rate | 2.6% (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, UK accounted for 4.5% 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 Europe, Russia lpg tanker market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 13.3 million by 2030.
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LPG Tanker Market Scope
LPG Tanker Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 27.06% in 2022. Horizon Databook has segmented the UK 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 UK is considered a technological hub, with a favorable environment for technological advancements and new market entrants. High investments hold future development for any technology. The UK government has made efforts by investing largely to support different end-use industries that promote the usage of LPG tankers.
The country is one of the world's largest financial hubs with good access to investments in technologies and innovations, especially from government organizations. The UK government has plans to become carbon neutral by 2050. It is promoting LPG as an alternative heating solution for homes and businesses that are off the main gas grid. Therefore, the import and transport of LPG are expected to drive the LPG tanker market in the country.
Furthermore, the country provides appealing tax breaks, such as R&D tax credits and enterprise investment schemes, which have incentivized angel investors and contributed to the growth of energy sector, in turn, creating opportunities for the growth of the LPG tanker market in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK lpg tanker market , including forecasts for subscribers. This country databook contains high-level insights into UK lpg tanker market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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UK lpg tanker market size, by vessel size, 2017-2030 (US$M)
UK LPG Tanker Market Outlook Share, 2022 & 2030 (US$M)
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