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South & Central America C-Type LNG Carrier Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Cylindrical, Bi-Lobe, and Tri-Lobe) and Application (Marine, Oil and Gas, Petrochemical, and Others)
- Report Code : BMIRE00027654
- Pages : 79
The C-type LNG carrier market in South & Central America is expected to grow from US$ 408.55 million in 2022 to US$ 534.07 million by 2028. It is estimated to grow at a CAGR of 4.6% from 2022 to 2028.
Surging Demand for Clean Energy
Natural gas is gaining momentum in many sectors as it is a cheap, environment-friendly, and efficient fossil fuel. It emits around 40% less carbon dioxide than coal and roughly 20% less carbon than oil. LNG is considered as a cleaner alternative to fuel oil and coal. It is widely adopted for generating the power. Thus, the rise in demand for clean gas is primarily attributed by the industrial and commercial applications which is further expected to drive the market growth. The surging demand for natural gases by residential, industrial, and commercial sectors, mainly from the developing economies, and the growing usage of LNG carriers for a wide range of end-use applications, such as defense and transport, are among the major factors holding potential opportunity for the growth of the C-type LNG carrier market. Thus, the increase in demand for clean energy sources across various applications is expected to provide lucrative opportunities for the market growth in the coming years.
Market Overview
Long isolated from other natural gas markets, South America has focused on achieving self-sufficiency and regional integration. South America saw one of the strongest increases in demand for liquefied natural gas (LNG) in 2021. The state oil company Petrobras, also known as Petrobras, registered units in 2021 for 23 million m3. LNG accounted for about 30% of Petrobras’ total gas volume and was critical to meeting the contractual needs of its customers. Hence, the region’s increasing fuel demand is anticipated to create lucrative opportunities for market vendors.
Furthermore, over the next decade, Brazil is expected to be the epicenter of new liquefied natural gas (LNG) demand in Latin America. In Brazil, gas remains the transition fuel, providing the greatest penetration of wind and solar energy. In Brazil, natural gas power is mostly utilized as a backup for hydropower, and the benefit of LNG over other supply choices is its reliability. Further, having developed four regasification facilities in the first decade (2000-2010), Argentina and Chile will experience a growing demand for LNG imports and optimization of existing infrastructure. With the rising demand for LNG in the region, carrier manufacturers will have a unique chance to design long-lasting small carriers for importing gas from other nations.
South & Central America C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
South & Central America C-type LNG Carrier Market Segmentation
The South & Central America c-type LNG carrier market is segmented into product type, application, and country.
Based on product type, the South & Central America C-type LNG carrier market is segmented into cylindrical, bi-lobe, and tri-lobe. The cylindrical segment registered the largest market share in 2022. Based on application, the South & Central America c-type LNG Carrier Market is segmented into marine, petrochemicals, oil and gas, and others. The marine segment registered the largest market share in 2022. Based on country, the market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022. DSME Co., Ltd.; Komarine Co. Mitsubishi Heavy Industries, Ltd. and Torgy LNG AS are the leading companies operating in the c-type LNG carrier market in the region.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM C-Type LNG Carrier Market – By Product Type
1.3.2 SAM C-Type LNG Carrier Market – By Application
1.3.3 SAM C-Type LNG Carrier Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM C-Type LNG Carrier Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SAM C-Type LNG Carrier Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in New Shipbuilding Contracts and New Fleet Expansion
5.2 Key Market Restraints
5.2.1 Operational and Financial Challenges Associated with LNG Carriers
5.3 Key Market Opportunities
5.3.1 Increasing Demand for Clean Energy
5.4 Trends
5.4.1 Rising Demand for Natural Gas from Several Industries
5.5 Impact analysis of Drivers and Restraints
6. C-Type LNG Carrier Market – SAM Analysis
6.1 SAM C-Type LNG Carrier Market Forecast and Analysis
7. SAM C-Type LNG Carrier Market Revenue and Forecast to 2028 – Product Type
7.1 Overview
7.2 SAM C-Type LNG Carrier Market, By Product (2021 And 2028)
7.3 Cylindrical
7.3.1 Overview
7.3.2 Cylindrical: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
7.4 Bi-lobe Shaped Tanks
7.4.1 Overview
7.4.2 Bi-lobe Shaped Tanks: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
7.5 Tri-lobe Shaped Tanks
7.5.1 Overview
7.5.2 Tri-lobe Shaped Tanks: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
8. SAM C-Type LNG Carrier Market Analysis – By Application
8.1 Overview
8.2 SAM C-Type LNG Carrier Market, By Application (2021 And 2028)
8.3 Marine
8.3.1 Overview
8.3.2 Marine: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
8.4 Oil and Gas
8.4.1 Overview
8.4.2 Oil and Gas: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
8.5 Petrochemical
8.5.1 Overview
8.5.2 Petrochemical: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: C-Type LNG Carrier Market Revenue and Forecast To 2028 (US$ Million)
9. SAM C-Type LNG Carrier Market – Country Analysis
9.1 Overview
9.1.1 SAM C-Type LNG Carrier Market Breakdown, by Country
9.1.1.1 Brazil C-Type LNG Carrier Market, Revenue and Forecast to 2028
9.1.1.1.1 Brazil C-Type LNG Carrier Market Breakdown, By Product Type
9.1.1.1.2 Brazil C-Type LNG Carrier Market Breakdown, By Application
9.1.1.2 Argentina C-Type LNG Carrier Market, Revenue and Forecast to 2028
9.1.1.2.1 Argentina C-Type LNG Carrier Market Breakdown, By Product Type
9.1.1.2.2 Argentina C-Type LNG Carrier Market Breakdown, By Application
9.1.1.3 Rest of SAM C-Type LNG Carrier Market, Revenue and Forecast to 2028
9.1.1.3.1 Rest of SAM C-Type LNG Carrier Market Breakdown, By Product Type
9.1.1.3.2 Rest of SAM C-Type LNG Carrier Market Breakdown, By Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Product Launch
11. Company Profiles
11.1 Mitsubishi Heavy Industries, Ltd.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Komarine Co.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Torgy LNG AS
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 DSME Co., Ltd.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. SAM C-Type LNG Carrier Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. SAM C-Type LNG Carrier Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. Brazil C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 4. Brazil C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 5. Argentina C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 6. Argentina C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 7. Rest of SAM C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 8. Rest of SAM C-Type LNG Carrier Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM C-Type LNG Carrier Market Segmentation
Figure 2. SAM C-Type LNG Carrier Market Segmentation – Country
Figure 3. SAM C-Type LNG Carrier Market Overview
Figure 4. SAM C-Type LNG Carrier Market, By Product Type
Figure 5. SAM C-Type LNG Carrier Market, By Application
Figure 6. SAM C-Type LNG Carrier Market, By Country
Figure 7. SAM: PEST Analysis
Figure 8. SAM C-Type LNG Carrier Market Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. SAM C-Type LNG Carrier Market: Impact Analysis of Drivers and Restraints
Figure 11. SAM C-Type LNG Carrier Market, Forecast and Analysis (US$ Million)
Figure 12. SAM C-Type LNG Carrier Market, By Product (2021 and 2028)
Figure 13. SAM Cylindrical: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. SAM Bi-lobe Shaped Tanks: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. SAM Tri-lobe Shaped Tanks: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. SAM C-Type LNG Carrier Market, By Application (2021 and 2028)
Figure 17. SAM Marine: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. SAM Oil and Gas: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. SAM Petrochemical: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. SAM Others: C-Type LNG Carrier Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. SAM C-Type LNG Carrier Market, BY Key Country – Revenue (2021) (US$ million)
Figure 22. SAM C-Type LNG Carrier Market Breakdown, by Country, 2021 & 2028 (%)
Figure 23. Brazil C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)
Figure 24. Argentina C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)
Figure 25. Rest of SAM C-Type LNG Carrier Market, Revenue and Forecast to 2028 (US$ million)
● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South & Central America C-type LNG carrier market
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the South & Central America C-type LNG carrier market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the C-type LNG carrier market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
● DSME Co., Ltd.
● Komarine Co.
● Mitsubishi Heavy Industries, Ltd.
● Torgy LNG AS
At 4.6% CAGR, the South & Central America C-Type LNG carrier market is speculated to be worth US$ 534.07 Million by 2028, says The Insight Partners
According to The Insight Partners’ research, the South & Central America C-type LNG carrier market was valued at US$ 408.55 million in 2022 and is expected to reach US$ 534.07 million by 2028, registering a CAGR of 4.6% from 2022 to 2028. Surge in new shipbuilding contracts and new fleet expansion and rising demand for natural gas from several industries are the critical factors attributed to the market expansion.
Natural gas is gaining momentum in many sectors as it is a cheap, environment-friendly, and efficient fossil fuel. It emits around 40% less carbon dioxide than coal and roughly 20% less carbon than oil. LNG is considered as a cleaner alternative to fuel oil and coal. It is widely adopted for generating the power. Thus, the rise in demand for clean gas is primarily attributed by the industrial and commercial applications which is further expected to drive the market growth.
The surging demand for natural gases by residential, industrial, and commercial sectors, mainly from the developing economies, and the growing usage of LNG carriers for a wide range of end-use applications, such as defense and transport, are among the major factors holding potential opportunity for the growth of the C-type LNG carrier market. Thus, the increase in demand for clean energy sources across various applications is expected to provide lucrative opportunities for the market growth in the coming years.
On the contrary, operational, and financial challenges associated with LNG carriers hurdles the growth of South & Central America C-type LNG carrier market.
Based on product type, the South & Central America C-Type LNG carrier market is segmented into cylindrical, bi-lobe, and tri-lobe. The cylindrical segment registered the largest market share in 2022 with a market share of 41.3%, amassing US$ 168.57 million. It is projected to garner US$ 214.72 million by 2028 to expand at 4.1% CAGR during 2022–2028. Based on application, the South & Central America C-Type LNG carrier market is segmented into marine, petrochemicals, oil and gas, and others. With 43.1% share of the domain marine segment registered the largest market share in 2022. It accrued US$ 176.19 million in 2022 and is estimated to generate US$ 239.91 million by 2028 to grow at a CAGR of 5.3% over the forecast period. Our regional analysis states that Brazil captured 49.0% market share in 2022. It was assessed at US$ 200.19 million in 2022 and is likely to hit US$ 261.67 million by 2028, exhibiting a CAGR of 4.6% during the forecast period.
Key players dominating the South & Central America C-type LNG carrier market are DSME Co., Ltd.; Komarine Co. Mitsubishi Heavy Industries, Ltd., Torgy LNG AS among others.
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