Posted 3/11/2024, 2:45:00 PM
U.S. LPG Tanker Market Poised for Steady Growth on Export Demand and Sustainability Trends
- United States LPG tanker market valued at $18.4 billion in 2023, projected to grow at 5.7% CAGR through 2029
- Increasing LPG production and exports driving growth in dedicated LPG tanker fleet and infrastructure
- South US region dominates market due to Gulf Coast's status as major LPG production and export hub
- Trends include technological advancements in tanker fleet, transition to LPG as a clean fuel alternative, evolving sustainability regulations
- Market split by vessel size (VLGC, LGC, MGC, SGC) and refrigeration type (fully pressurized, semi-pressurized, fully/extra refrigerated)