Global LPG Tanker Industry: Key Statistics and Insights in 2025-2033
Summary:
- The global LPG tanker market size reached USD 210.1 Billion in 2024.
- The market is expected to reach USD 320.0 Billion by 2033, exhibiting a growth rate CAGR of 5.4% during 2025-2033.
- Europe leads the market, accounting for the largest LPG tanker market share.
- Very large gas carrier accounts for the majority of the market share in the vessel size segment due to its ability to transport large quantities of LPG efficiently.
- Fully pressurized holds the largest share in the LPG tanker industry.
- The rising energy demand is a primary driver of the LPG tanker market.
- Expanding LPG export and import and environmental regulations and cleaner energy transition are reshaping the LPG tanker market.
Industry Trends and Drivers:
- Growing Energy Demand:
There continues to be favorable for the market due to the progressively adopted LPG tankers concerning rising energy demand. The requirement for LPG is continually increasing in various areas since it presents a flexible form of energy for residential heating, cooking, industrial purposes, and transportation. Developing economies in Asia, Africa, and Latin America are going through fast urbanization and industrialization trends leading to greater energy consumption. Thus, there is an increasing demand for efficient transportation solutions to move LPG from its producer centers to the consumer hubs. LPG tankers assume a significant role in meeting that demand since they transport liquefied gases safely and efficiently." This factor has been further stimulated by governmental incentives advocating the use of cleaner fuels such as LPG, which has reduced emissions compared to coal and oil.
- Expanding LPG Export and Import:
The growth of LPG in international trade is a function of producers in the US, Qatar, and Saudi Arabia augmenting production to meet global demands with the said countries taking full advantage of plenty of natural gas resources. In parallel, many developing economies in Asia-Pacific are boosting LPG imports to satisfy their domestic energy needs. Some of the largest importers of LPG, such as India, China, and Japan, are relying heavily upon LPG for residential and industrial usage. This expansion of trade flows is putting additional pressure to build new LPG tankers for the possible long-distance transport of this fuel. Shipping companies are enlarging and modernizing their tanker fleets in pursuit of this increased demand, thereby strengthening the overall LPG tanker market.
- Environmental Regulations and Cleaner Energy Transition:
The movement decentralized others toward cleaner energy sources as yet another consideration affecting the LPG tanker market. Governments in different countries enact stringent environmental regulations to mitigate carbon emissions. LPG is a cleaner substitute for coal and oil and causes less emission of greenhouse gases (GHG) and pollutants, which makes it a preferred choice in home and industrial applications. In line with these trends, many countries are implementing regulations to promote LPG use in power generation, transportation, and other industries. The transport sector, in particular, sees a move toward LPG-powered vehicles as a cleaner fuel option. The increasing quest for clean fuel alternatives adds forward to the growth of the market.
Request for a sample copy of this report: https://www.imarcgroup.com/lpg-tanker-market/requestsample
LPG Tanker Market Report Segmentation:
Breakup By Vessel Size:
- Very Large Gas Carrier
- Large Gas Carrier
- Medium Gas Carriers
- Small Gas Carrier
Very large gas carrier account for the majority of shares due to its ability to transport large quantities of LPG efficiently.
Breakup By Refrigeration and Pressurization:
- Fully Pressurized
- Semi-pressurized
- Fully Refrigerated
- Extra Refrigerated (Ethylene Gas Carriers)
Fully pressurized dominates the market as it can easily transport LPG without requiring special cooling or large-scale refrigeration facilities at both loading and unloading ports.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Europe enjoys the leading position owing to a large market for LPG tanker driven by the focus on reducing carbon emissions.
Top LPG Tanker Market Leaders:
The LPG tanker market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- BW Group
- Dorian LPG Ltd.
- EXMAR
- Hyundai Heavy Industries Co. Ltd.
- Kawasaki Heavy Industries Ltd.
- Kuwait Oil Tanker Company S.A.K
- Mitsubishi Heavy Industries Ltd
- StealthGas Inc.
- STX Corporation (Afc Mercury Co. Ltd)
- The Great Eastern Shipping Co. Ltd
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145