MARKET OVERVIEW
A LPG tanker, also known as gas carrier, gas tanker, or LPG carrier is a ship to transport LPG in bulk. LPG tankers enables transport over long distances of substantial volumes of an oil refinery by-product and provides significant advantages. Fully pressurised LPG carriers are fitted with two or three horizontal, cylindrical or spherical cargo tanks with capacities between 20,000 and 90,000 cubic meters and length from 140 m to 229 m . Innovations in the dual-fuel propulsion system possessing the ability to utilize LPG or diesel fuel on a selective basis is propelling the market growth. Growing demands for fully pressurized ships as they represent a cost-effective, simple way of moving LPG to and from smaller gas terminals is also bolstering the market growth.
MARKET SCOPE
The "Global LPG Tanker Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the LPG Tanker market with detailed market segmentation by vessel size, refrigeration and pressurization, and geography. The report provides key statistics on the market status of the leading LPG Tanker market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
-On the basis of vessel size the market is segmented as Small Gas Carriers (SGC), Medium Gas Carriers (MGC), Large Gas Carriers (LGC).
-On the basis of refrigeration and pressurization the market is segmented as fully pressurized, semi-pressurized, fully refrigerated, extra refrigerated.
MARKET DYNAMICS
Drivers
-The increasing demand for liquefied petroleum gas from petrochemical industries, is driving the growth of the LPG Tanker market.
-Innovation in LGC development is propelling the growth of the market.
Restraints
-Amplified prices of LPG is estimated to be a restraint to the global LPG Tanker market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market distribution channel and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The LPG Tanker market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the LPG Tanker market in these regions.
IMPACT OF COVID-19 ON LPG TANKER MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries in the year 2020. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. Further, the shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, and delivery schedules for specific periods. However, as economies started to open in 2021, government initiatives and funding to stabilize the condition supported the market demand in a pandemic situation. Growing trade relationships between countries across the globe is anticipated to bolster the LPG Tanker market during the post pandemic era.
MARKET PLAYERS
The report covers key developments in the LPG Tanker market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from LPG Tanker market are anticipated to lucrative growth opportunities in the future with the rising demand for LPG Tanker in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the LPG Tanker market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-BNH GAS TANKS LLP
-BW GROUP
-DORIAN LPG LTD
-EXMAR
-GLOBE GAS EQUIPMENTS INDUSTRY PVT. LTD
-KAWASAKI HEAVY INDUSTRIES, LTD.
-LPG VENTURES
-MITSUBISHI HEAVY INDUSTRIES, LTD.
-NAMURA SHIPBUILDING CO. , LTD
-STEALTHGAS INC
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.