LNG Carrier Market Share

APAC Market Forecast

The LNG carrier market in Asia Pacific is projected to be the largest with a share of about 32% by the end of 2037. The growing industrialization in the region is propelling the demand for natural gas including LNG by various end-user industries. Therefore, the growth of several end-use industries such as petrochemicals, automobiles, fertilizers, and power, specifically in countries of China, India, Japan, and South Korea is expected to propel the demand in the region. Also, in 2022, Japan was the largest LNG importer globally.

North American Market Statistics

The North America LNG carrier market is estimated to be the second largest, registering a share of about 26% by the end of 2037. The International Energy Agency (IEA) statistics state that North American natural gas consumption grew by 4.4% in 2021. The growing consumption of these gas in the US, Canada’s power generation sector, and industrial sector are anticipated to expand the LNG demand in the region.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of LNG carrier is assessed at USD 13.93 billion.

The LNG carrier market size was over USD 13.37 billion in 2024 and is anticipated to cross USD 25.84 billion by 2037, witnessing more than 5.2% CAGR during the forecast period i.e., between 2025-2037. The rising adoption of strict emission policies and the rising demand for natural gas as a clean energy source will drive the market growth.

Asia Pacific industry is likely to account for largest revenue share of 32% by 2037, impelled by demand for natural gas including LNG by various end-user industries.

The major players in the market are Gaztransport & Technigaz S.A., Mitsui O.S.K. Lines, Ltd., Hudong–Zhonghua Shipbuilding Corporation, Teekay Lng Partners, L.P., Kawasaki Heavy Industries Ltd., Dynagas LNG Partners LP., GasLog Ltd., BW Group, MISC Group, Nippon Yusen Kabushiki Kaisha

LNG Carrier Market Share