Global LPG Tanker Market 2019-2023

LONDON, Dec. 10, 2018 /PRNewswire/ --

About this market
The increase in adoption of alternative, clean and low- carbon energy sources for power generation, the margins of oil and gas companies have reduced. The changing energy mix, evolving market conditions, and technological integration have compelled conventional energy companies to shift their focus, to their operational tactics and restructuring their business lines in oil and gas. Such activities indicate that the oil and gas market in transitioning toward business expansion through joint ventures and mergers. This is leading to market consolidation, which is enabling the oil and gas market to expand its reach a compete with other energy sources such as renewables, these mergers will also result in higher price power in a situation where freight rates are highly volatile. Therefore, this is expected to have a positive impact on the growth on the global LPG tankers market. The LPG tanker market will witness an incremental growth close to USD7 billion during 2019-2023.

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Market Overview
Rise in demand for natural gas
The demand for natural gas is driven by various industries, including fertilizers and petrochemical. The demand for LPG is expected to rise because of its increasing adoption and a feedstock in petrochemical plants.
Fluctuations in oil and gas prices
The volatility of commodity prices, such as oil, severely impacts oil and gas industry. Oil and gas are mainly traded in the international market because of an imbalance in the global demand and supply of oil and gas. Therefore, fluctuating in the crude oil and gas import prices affects the profitability of companies involved in the trade.
For the detailed list of factors that will drive and challenge the growth of the LPG tanker market during the 2019-2023, view our report.

Competitive Landscape
The LPG tanker market is concentrated with a few international companies. The market is currently in its growth phase and expected to continue being concentrated by 2023. The oil and gas market are expanding its reach to other energy sources such as renewables. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

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