Europe Liquified Petroleum Gas Tanker Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 3.4 Billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.
The Europe Liquified Petroleum Gas Tanker Market has been experiencing rapid growth due to the rising demand for LPG (Liquified Petroleum Gas) in various industries. As a result, there has been an increasing need for tankers that can transport LPG efficiently across the region. The demand for LPG, which is used in heating, cooking, and as a fuel for vehicles, has driven the need for specialized vessels designed to store and transport the gas safely and efficiently.
These tankers are specifically designed to handle the unique characteristics of LPG. The tankers are constructed with advanced technology to ensure the safety and reliability of the transport process. The European market sees these vessels primarily being utilized in the petrochemical and energy sectors, where LPG is integral to daily operations. With energy demand on the rise and the European Union aiming for sustainable energy, LPG remains a crucial component of the region's energy mix. The growth of the market is also attributed to advancements in tanker design, leading to enhanced operational efficiency and safety standards.
Industries, particularly in the energy, manufacturing, and automotive sectors, rely heavily on the availability of LPG. The increasing industrialization in Europe is directly influencing the demand for Liquified Petroleum Gas Tanker Market, as LPG is required for powering machinery, vehicles, and even as an industrial feedstock. Additionally, the growth of the transportation sector, with more vehicles converting to LPG due to environmental benefits, increases the demand for tankers to ensure a steady supply of the fuel.
There is also a significant shift in the type of tankers used within the European market. Specialized vessels designed for long-haul transportation are seeing more demand, especially with countries focusing on enhancing energy security and transitioning to more sustainable energy sources. This is driving the need for larger, more efficient LPG tankers to meet the growing industrial needs while complying with safety regulations and environmental standards.
With the continued growth of the LPG industry in Europe, the Liquified Petroleum Gas Tanker Market is poised for further expansion. The demand for tankers continues to rise as industries rely on LPG as a versatile energy source, highlighting the importance of modern and innovative transport solutions.
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Air and Gas Holdings Pty Ltd.
Bosco India
BW Group
Dorian LPG Ltd.
Exmar NV
GLOBE GAS EQUIPMENTS INDUSTRY PVT. LTD.
HD Hyundai Co. Ltd.
Kawasaki Heavy Industries Ltd.
Krison Engineering Works
Kuwait Oil Tanker Co. SAK
Mitsubishi Heavy Industries Ltd.
Nakilat
Namura Shipbuilding Co. Ltd.
Solvang ASA
StealthGas Inc.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Liquified Petroleum Gas Tanker Market
Pressurized LPG Tankers
Atmospheric LPG Tankers
Fully Pressurized LPG Tankers
Semi-Pressurized LPG Tankers
Small-sized Tankers (up to 5,000 DWT)
Medium-sized Tankers (5,001 to 20,000 DWT)
Large-sized Tankers (20,001 to 40,000 DWT)
Very Large-sized Tankers (above 40,000 DWT)
Residential
Commercial
Industrial
Automotive
Ship-to-Ship (STS)
Ship-to-Shore (STS)
Tanker Truck Transport
Railway Transport
Energy Sector
Manufacturing Sector
Construction Sector
Hospitality Sector
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe Liquified Petroleum Gas Tanker Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Liquified Petroleum Gas Tanker Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Liquified Petroleum Gas Tanker Market, By Type
6. Europe Liquified Petroleum Gas Tanker Market, By Application
7. Europe Liquified Petroleum Gas Tanker Market, By Geography
Europe
Germany
UK
France
8. Europe Liquified Petroleum Gas Tanker Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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