Summary

Global LNG Carrier Market is valued at approximately USD 13.21 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.27% over the forecast period 2024-2032. An LNG (Liquefied Natural Gas) carrier is a specialized vessel designed for transporting liquefied natural gas. These ships utilize advanced cryogenic technology to store and transport LNG at temperatures as low as -162 degrees Celsius. LNG carriers play a crucial role in the global energy trade, facilitating the transportation of natural gas from production sites to consumption centers around the world. The membrane-type LNG carrier has gained widespread adoption due to its increased carrying capacity and associated benefits. Gaz transport and Techni Gaz (GTT) pioneered the design of the most prevalent membrane tank systems. Numerous GTT systems have been operational on LNG carriers for years, alongside alternative designs from various firms. This containment technology segment is projected to maintain dominance in the Global LNG Carrier Market for the foreseeable future.

Factors like versatile deployment capabilities, heightened efficiency, and rising global LNG consumption due to government regulations and demand from diverse end-user industries are anticipated to propel the market. Moreover, the Global LNG Carrier market includes a significant shift in the shipping industry's fuel mix, catalyzed by MARPOL regulations limiting sulfur emissions from ships. This regulation prompts operators to explore alternatives like LNG as a marine transport fuel, thus elevating the demand for LNG carriers. Additionally, the expanding LNG tanker fleet, propelled by technological advancements and increasing LNG trade, is expected to further stimulate the market. As of 2021, the global LNG tanker fleet comprised over 700 vessels. However, challenges persist, including the high manufacturing and accommodation costs of LNG carriers, the complexity and expense of constructing LNG pipelines due to the need for extensive insulation, inadequate supporting infrastructure, and prolonged delivery times. Conversely, the influx of new carrier fleets and regional shipping disparities has led to fluctuating charter rates. These factors necessitate strategic considerations for market players to navigate effectively.

The key regions considered for the global LNG Carrier market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, The Asia-Pacific region commands the LNG carrier market with dominating share, driven by escalating natural gas demand fueled by industrial expansion and the adoption of clean energy, notably led by China. China's vigorous emissions reduction strategy, particularly through coal-to-gas conversion, has propelled its LNG consumption by 15.0%, with significant increases in LNG imports observed in South Korea and Chinese Taipei. China's LNG imports surged by 16.8% in 2021, affirming its pivotal role in global LNG advancement. Furthermore, expanding consumption across diverse sectors such as manufacturing, petrochemicals, and fertilizers is poised to further propel market growth. Additionally, North America anticipates to register fastest growth during the forecasted period of 2022-2032.

Major market player included in this report are:
Royal Dutch Shell PLC
Nippon Yusen Kabushiki Kaisha
MISC Berhad
Mistui O.S.K. Lines Ltd.
Seapeak
Gaztransport & Technigaz S.A
Hudong-Zhonghua Shipbuilding Corporation
Teekay Lng Partners, L.P
GasLog Ltd.
BW Group

The detailed segments and sub-segment of the market are explained below:

By Capacity
30,000-125,000 cm
125,000-150,000 cm
150,000-175,000 cm
above 175,000cm

By Containment Type
Membrane
Moss

By Application
Domestic Transportation
International Transportation

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

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Table of Contents

Chapter 1. Global LNG Carrier Market Definition and Research Assumptions
1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
1.3.1. Inclusion & Exclusion
1.3.2. Limitations
1.3.3. Supply Side Analysis
1.3.3.1. Availability
1.3.3.2. Infrastructure
1.3.3.3. Regulatory Environment
1.3.3.4. Market Competition
1.3.3.5. Economic Viability (Consumer’s Perspective)
1.3.4. Demand Side Analysis
1.3.4.1. Regulatory frameworks
1.3.4.2. Technological Advancements
1.3.4.3. Environmental Considerations
1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

Chapter 2. Executive Summary
2.1. Global LNG Carrier Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
2.3.1. By Capacity
2.3.2. By Containment Type
2.3.3. By Application
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion
Chapter 3. Global LNG Carrier Market Dynamics
3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities
Chapter 4. Global LNG Carrier Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global LNG Carrier Market Size & Forecasts by Capacity 2022-2032
5.1. 30,000-125,000 cm
5.2. 125,000-150,000 cm
5.3. 150,000-175,000 cm
5.4. above 175,000cm
Chapter 6. Global LNG Carrier Market Size & Forecasts by Containment Type 2022-2032
6.1. Membrane
6.2. Moss
Chapter 7. Global LNG Carrier Market Size & Forecasts by Application 2022-2032
7.1. Domestic Transportation
7.2. International Transportation
Chapter 8. Global LNG Carrier Market Size & Forecasts by Region 2022-2032
8.1. North America LNG Carrier Market
8.1.1. U.S. LNG Carrier Market
8.1.1.1. Capacity breakdown size & forecasts, 2022-2032
8.1.1.2. Containment Type breakdown size & forecasts, 2022-2032
8.1.1.3. Application breakdown size & forecasts, 2022-2032
8.1.2. Canada LNG Carrier Market
8.2. Europe LNG Carrier Market
8.2.1. U.K. LNG Carrier Market
8.2.2. Germany LNG Carrier Market
8.2.3. France LNG Carrier Market
8.2.4. Spain LNG Carrier Market
8.2.5. Italy LNG Carrier Market
8.2.6. Rest of Europe LNG Carrier Market
8.3. Asia-Pacific LNG Carrier Market
8.3.1. China LNG Carrier Market
8.3.2. India LNG Carrier Market
8.3.3. Japan LNG Carrier Market
8.3.4. Australia LNG Carrier Market
8.3.5. South Korea LNG Carrier Market
8.3.6. Rest of Asia Pacific LNG Carrier Market
8.4. Latin America LNG Carrier Market
8.4.1. Brazil LNG Carrier Market
8.4.2. Mexico LNG Carrier Market
8.4.3. Rest of Latin America LNG Carrier Market
8.5. Middle East & Africa LNG Carrier Market
8.5.1. Saudi Arabia LNG Carrier Market
8.5.2. South Africa LNG Carrier Market
8.5.3. Rest of Middle East & Africa LNG Carrier Market
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Royal Dutch Shell PLC
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. Nippon Yusen Kabushiki Kaisha
9.3.3. MISC Berhad
9.3.4. Mistui O.S.K. Lines Ltd.
9.3.5. Seapeak
9.3.6. Gaztransport & Technigaz S.A
9.3.7. Hudong-Zhonghua Shipbuilding Corporation
9.3.8. Teekay Lng Partners, L.P
9.3.9. GasLog Ltd.
9.3.10. BW Group
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes