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

Global Liquefied Natural Gas (LNG) Carrier Market, By Containment Type (Moss Type and Membrane Type), Storage Capacity (Under 120,000 cubic meter, 120,000-160,000 cubic meter and Above 160,000 cubic meter), Propulsion Type (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), End User Industry (Transport, Defense and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.

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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.

**Segments**

- **Capacity**: The LNG carrier market can be segmented based on the capacity of the vessels. This includes small-scale carriers with a capacity of less than 30,000 cubic meters, mid-scale carriers with a capacity between 30,000 to 60,000 cubic meters, and large-scale carriers with a capacity of more than 60,000 cubic meters. The demand for different capacity carriers is driven by factors such as trade routes, infrastructure availability, and regional demand for LNG.

- **Propulsion Type**: Another key segment in the LNG carrier market is based on the propulsion type of the vessels. This includes steam turbine propulsion, dual-fuel engine propulsion, and other propulsion systems. Dual-fuel engine propulsion is gaining popularity due to its lower emissions and operational cost benefits compared to traditional steam turbine propulsion.

- **End-User**: The end-user segment of the LNG carrier market includes segments such as international trade, domestic distribution, and floating storage and regasification unit (FSRU) projects. International trade accounts for a significant portion of the demand for LNG carriers as countries rely on LNG imports to meet their energy needs. FSRU projects offer a flexible and cost-effective solution for regions without fixed LNG import infrastructure.

**Market Players**

- **Mitsubishi Heavy Industries, Ltd.**: Mitsubishi Heavy Industries is a key player in the LNG carrier market, offering a wide range of vessels with advanced technical capabilities. The company has a strong reputation for quality and reliability in the industry.

- **Samsung Heavy Industries Co., Ltd.**: Samsung Heavy Industries is another major player in the LNG carrier market, known for its technologically advanced vessels and innovative design solutions. The company's vessels are highly sought after by leading energy companies.

- **Hyundai Heavy Industries Co., Ltd.**: Hyundai Heavy Industries is a prominent player in the LNG carrier market, focusing on the development of eco-friendly and energy-efficient vessels. The company's commitment to sustainability has positioned it as a preferred choice for environmentallyThe LNG carrier market is experiencing significant growth driven by the increasing demand for LNG as a clean fuel alternative and the expanding global trade of liquefied natural gas. The market segmentation based on vessel capacity plays a crucial role in addressing the diverse needs of the industry. Small-scale carriers cater to niche markets or regions with limited infrastructure, while mid-scale and large-scale carriers are utilized for long-distance voyages and high-volume transportation. The capacity segment is influenced by factors such as trade patterns, infrastructure development, and regional consumption trends. Companies specializing in different capacity ranges must strategically align their offerings with market demand to capitalize on growth opportunities.

Another crucial segment in the LNG carrier market is based on propulsion type, with choices like steam turbine propulsion, dual-fuel engine propulsion, and other innovative propulsion systems. Dual-fuel engine propulsion has emerged as a preferred option due to its superior environmental performance and operational efficiency compared to traditional steam turbines. The focus on reducing carbon emissions and operational costs is driving the adoption of dual-fuel engine propulsion systems in new LNG carrier projects. Market players investing in research and development to enhance propulsion technology will gain a competitive edge in meeting the sustainability requirements of the industry.

The end-user segment encompasses a range of applications, including international trade, domestic distribution, and FSRU projects. International trade represents a significant driver of LNG carrier demand, with countries relying on imports to meet their energy demands. The flexibility and cost-effectiveness of FSRU projects have further expanded the utility of LNG carriers, especially in regions lacking fixed import infrastructure. Understanding the unique requirements of each end-user segment is vital for market players to tailor their offerings and services effectively. Collaborations with stakeholders across the LNG value chain can create strategic partnerships and drive business growth in specific end-user sectors.

Key market players such as Mitsubishi Heavy Industries, Samsung Heavy Industries, and Hyundai Heavy Industries have established a strong presence in the LNG carrier market through their technological expertise and commitment to delivering high-quality vessels. These companies continually enhance their capabilities to meet evolving**Segments**

- **Capacity**: The LNG carrier market is segmented based on vessel capacity, with small-scale carriers catering to niche markets, mid-scale carriers for long-distance voyages, and large-scale carriers for high-volume transportation. Factors influencing demand include trade patterns, infrastructure development, and regional consumption trends.

- **Propulsion Type**: The market segment based on propulsion type includes steam turbine, dual-fuel engine, and other propulsion systems. Dual-fuel engine propulsion is preferred for its environmental performance and operational efficiency, driving its adoption in new LNG carrier projects.

- **End-User**: The end-user segment consists of international trade, domestic distribution, and FSRU projects. International trade is a key driver of demand, with FSRU projects offering flexibility and cost-effectiveness in regions lacking fixed import infrastructure.

Global Liquefied Natural Gas (LNG) Carrier Market, By Containment Type (Moss Type and Membrane Type), Storage Capacity (Under 120,000 cubic meter, 120,000-160,000 cubic meter, and Above 160,000 cubic meter), Propulsion Type (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 Reheat and Stage), End User Industry (Transport, Defense, and Others), Country (U.S., Canada, Mexico, Brazil

Highlights of TOC:

Chapter 1: Market overview

Chapter 2: Global Liquefied Natural Gas (LNG) Carrier Market

Chapter 3: Regional analysis of the Global Liquefied Natural Gas (LNG) Carrier Market industry

Chapter 4: Liquefied Natural Gas (LNG) Carrier Market segmentation based on types and applications

Chapter 5: Revenue analysis based on types and applications

Chapter 6: Market share

Chapter 7: Competitive Landscape

Chapter 8: Drivers, Restraints, Challenges, and Opportunities

Chapter 9: Gross Margin and Price Analysis

Key Questions Answered with this Study

1) What makes Liquefied Natural Gas (LNG) Carrier Market feasible for long term investment?

2) Know value chain areas where players can create value?

3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?

4) What geographic region would have better demand for product/services?

5) What opportunity emerging territory would offer to established and new entrants in Liquefied Natural Gas (LNG) Carrier Market?

6) Risk side analysis connected with service providers?

7) How influencing factors driving the demand of Liquefied Natural Gas (LNG) Carrier in next few years?

8) What is the impact analysis of various factors in the Global Liquefied Natural Gas (LNG) Carrier Market growth?

9) What strategies of big players help them acquire share in mature market?

10) How Technology and Customer-Centric Innovation is bringing big Change in Liquefied Natural Gas (LNG) Carrier Market?

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