Global Liquefied Natural Gas (LNG) Carrier Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: Global Liquefied Natural Gas (LNG) Carrier Market

Data Bridge Market Research analyses that the liquefied natural gas (LNG) carrier market will witness a CAGR of 6.50% for the forecast period of 2021-2028. Increasing demand of natural gases by industrial, commercial and residential sectors especially in the developing economies, growing use of liquefied natural gas (LNG) carrier for a wide range of end use applications such as transport, defense and others and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the liquefied natural gas (LNG) carrier market. Therefore, the market value would rise up to USD 16,549.96 million by 2028.

From the name itself, it is clear that liquefied natural gas (LNG) carriers are the tank ships that are used to transport liquefied natural gas (LNG) at cryogenic temperature of −161°C. These carriers are equipped with efficient propulsion systems which in turn increases the efficiency of carriers.

Rise in application of liquefied natural gas (LNG) carriers for transportation is the root cause fuelling up the market growth rate. Rising industrialization coupled with ever-evolving demand for automobiles will also directly and positively impact the growth rate of the market. Growth and expansion of various end user verticals especially in the emerging economies coupled with surge in the power generation activities will further carve the way for the growth of the market. Ever-rising global population is other indirect determinant which will also foster the market growth rate.

However, COVID-19 pandemic posed a major challenge to the growth of the market. Fluctuations in the charter rates of the carriers will dampen the market growth rate. Also, stringent regulations imposed on the domestic and international trade will further derail the market growth rate.

 This liquefied natural gas (LNG) carrier market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on liquefied natural gas (LNG) carrier market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Liquefied Natural Gas (LNG) Carrier Market Scope and Market Size

The liquefied natural gas (LNG) carrier market is segmented on the basis of containment type, storage capacity, propulsion type and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

• On the basis of containment type, the liquefied natural gas (LNG) carrier market is segmented into moss type and membrane type. Membrane type segment is sub-segmented into GTT Technology, 96 system (gaz transport system) and mark III system (technigaz system).
• On the basis of storage capacity, the liquefied natural gas (LNG) carrier market is segmented into under 120,000 cubic meter, 120,000-160,000 cubic meter and above 160,000 cubic meter.
• On the basis of propulsion type, the liquefied natural gas (LNG) carrier market is segmented into steam turbines, dual fuel diesel engine/tri-fuel diesel engine (DFDE/TFDE), slow-speed diesel (SSD), m-type electronically controlled gas injection (ME-GI), XDF- two stroke engine and steam re-heat and stage.
• On the basis of end user industry, the liquefied natural gas (LNG) carrier market is segmented into transport, defense and others.

Liquefied Natural Gas (LNG) Carrier Market Country Level Analysis

The liquefied natural gas (LNG) carrier market is analysed and market size, volume information is provided by country, containment type, storage capacity, propulsion type and end user industry as referenced above.

The countries covered in the liquefied natural gas (LNG) carrier market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the liquefied natural gas (LNG) carrier market and will continue to flourish its dominance during the forecast period owing to the growing demand clean energy sources especially in countries like India, China and Japan. Asia-Pacific will continue to undergo substantial gains for this period growth and expansion of various industry verticals.

The country section of the liquefied natural gas (LNG) carrier market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Liquefied Natural Gas (LNG) Carrier Market Share Analysis

The liquefied natural gas (LNG) carrier market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to liquefied natural gas (LNG) carrier market.

The major players covered in the liquefied natural gas (LNG) carrier market report are Shell group of companies, NYK Line., Mitsui O.S.K.Lines, MISC Berhad, Teekay Corporation, STX Offshore & Shipbuilding Co., Ltd., Samsung Heavy Industries Co., Ltd., Hyundai Heavy Industries Co., Ltd., HYUNDAI MIPO DOCKYARD., IMABARI SHIPBUILDING CO., LTD., HANJIN HEAVY INDUSTRIES & CONSTRUCTION HOLDINGS CO., LTD., HYUNDAI SAMHO HEAVY INDUSTRIES CO.,LTD., MITSUBISHI HEAVY INDUSTRIES, LTD., Kawasaki Heavy Industries, Ltd., GasLog Ltd., Dynagas., China State Shipbuilding Corporation Limited, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd., MARAN GAS MARITIME INC., Japan Marine United Corporation and Teekay Corporation among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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