LNG CarriersCompanies (2024 - 2029)

LNG Carriers Market Companies Summary

The LNG carrier market is anticipated to experience growth over the forecast period, driven by factors such as flexible deployment capabilities, increased efficiency, and a rise in global LNG consumption, supported by government regulations and demand from various end-user industries. However, the entry of new carrier fleets into the market and regional shipping imbalances have caused fluctuations in charter rates, potentially hindering market growth. Despite this, many terminals are adjusting to accommodate small-scale and bunkering vessels to comply with emissions targets and seize new commercial opportunities. Conventional oil-based fuels are expected to remain the primary fuel option for most vessels, but the commercial opportunities of LNG are attractive. The market is moderately fragmented, with a few major firms operating within it. The membrane-type segment, due to its higher carrying capacity and other benefits, held the largest market share and is expected to dominate the global market throughout the forecast period. The most common membrane tank systems were designed by Gaztransport and Technigaz (GTT) and have been implemented onboard LNG carriers for many years. Other designs from various firms have also been developed. Technological advancements have led to the membrane-type containment's superior capacity to withstand the immense pressure of LNG and its compact shape to carry large LNG volumes compared to moss-type containment.