Market Size of LNG Carriers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.60 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
LNG Carrier Market Analysis
The LNG carrier market is expected to record a CAGR of more than 3.6% during the forecast period.
COVID-19 moderately impacted the market in 2020. Currently. The market has reached pre-pandemic levels.
- Over the medium period, factors such as flexible deployment capabilities, increased efficiency, and increasing global consumption of LNG driven by supportive government regulations and demand from several end-user industries, including power generation and industrial, are expected to drive the market in the coming years.
- On the other hand, with the new carrier fleet entering the market and with regional shipping imbalances, carriers' charter rates have fluctuated, which may hinder the market's growth during the forecast period.
- Nevertheless, many terminals are adjusting to accommodate small-scale and bunkering vessels to comply with emissions targets and capture new commercial opportunities. Conventional oil-based fuels will remain the main fuel option for most vessels in the future. At the same time, commercial opportunities of LNG are interesting.
