How big is the LNG carrier market | Global Analysis & Key Drivers 2025

Code: MTA7819 Publication Date: Aug 2025

How big is the LNG Carrier Market?

According to 6Wresearch internal database and industry insights, the Global LNG Carrier Market was valued at USD 6.4 Billion in 2024 and is expected to reach USD 9.23 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period of 2025 to 2031.

The market is expanding due to rising global LNG trade, fleet modernization for fuel efficiency, and increasing demand for energy transition-friendly shipping solutions.

Key Growth Drivers of the LNG Carrier Market

  • Rising global LNG consumption and export capacity expansions
  • Replacement of aging fleets with fuel-efficient and low-emission carriers
  • Technological advancements in containment and propulsion systems
  • Growing demand for flexible, long-haul LNG transportation solutions
  • Expansion of LNG liquefaction and regasification terminals worldwide

LNG Carrier Market Trends

LNG carrier market is witnessing trends such as the shift toward larger Q-Flex and Q-Max vessels for economies of scale, increasing adoption of dual-fuel propulsion for reduced emissions, and integration of boil-off gas reliquefaction systems. Predictive maintenance and digital monitoring of the fleet are increasingly standard, and concerns about geopolitical energy security are changing the routes of LNG shipping. Another reason is that there is an increased demand to charter LNG carriers on long term contracts to reduce uncertainties in freight rates.

Emerging Developments in the LNG Carrier Market

LNG carrier market is experiencing developments such as deployment of newbuild orders with advanced containment systems, hybrid propulsion, and improved hull designs for fuel efficiency. The establishment of the JVs between the shipbuilders and the energy firms, on the one hand, and financiers on the other, are shortening project schedules. The availability of LNG bunkering compatibility and alternate fuel preparedness are being ingrained in designs of carriers, as well as providing higher crew training on matters of safety and operational perfection.

List of Leading Companies in the LNG Carrier Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Mitsui O.S.K. Lines, Ltd.

Company NameMitsui O.S.K. Lines, Ltd.
Established Year1884
HeadquartersTokyo, Japan
Official WebsiteClick Here

Mitsui O.S.K. Lines operates a large LNG carrier fleet with advanced containment systems, serving major energy companies and global LNG trade routes.

2. NYK Line (Nippon Yusen Kabushiki Kaisha)

Company NameNYK Line (Nippon Yusen Kabushiki Kaisha)
Established Year1885
HeadquartersTokyo, Japan
Official WebsiteClick Here

NYK Line manages LNG carriers with cutting-edge fuel efficiency and safety technologies, providing long-term charter services to global LNG producers.

3. Kawasaki Kisen Kaisha, Ltd. (K Line)

Company NameKawasaki Kisen Kaisha, Ltd. (K Line)
Established Year1919
HeadquartersTokyo, Japan
Official WebsiteClick Here

K Line operates LNG carriers with innovative propulsion and storage systems, focusing on sustainable LNG shipping solutions and global logistics efficiency.

4. Teekay LNG Partners L.P.

Company NameTeekay LNG Partners L.P.
Established Year2004
HeadquartersHamilton, Bermuda
Official WebsiteClick Here

Teekay LNG Partners owns and operates LNG carriers worldwide, specializing in long-term charters for energy companies and major LNG infrastructure projects.

5. GasLog Ltd.

Company NameGasLog Ltd.
Established Year2010
HeadquartersPiraeus, Greece
Official WebsiteClick Here

GasLog operates modern LNG carriers with advanced reliquefaction systems, offering shipping solutions to major LNG suppliers and traders globally.

6. Golar LNG Limited

Company NameGolar LNG Limited
Established Year1946
HeadquartersHamilton, Bermuda
Official WebsiteClick Here

Golar LNG operates LNG carriers, floating storage, and regasification units, supporting integrated LNG transportation and terminal operations worldwide.

7. Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME)

Company NameDaewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME)
Established Year1973
HeadquartersSeoul, South Korea
Official WebsiteClick Here

DSME designs and builds technologically advanced LNG carriers with innovative containment systems, serving major shipowners and energy companies globally.

8. Hyundai Heavy Industries Co., Ltd.

Company NameHyundai Heavy Industries Co., Ltd.
Established Year1972
HeadquartersUlsan, South Korea
Official WebsiteClick Here

Hyundai Heavy Industries is a leading LNG carrier shipbuilder, offering high-capacity vessels with state-of-the-art efficiency and safety features.

9. Samsung Heavy Industries Co., Ltd.

Company NameSamsung Heavy Industries Co., Ltd.
Established Year1974
HeadquartersSeoul, South Korea
Official WebsiteClick Here

Samsung Heavy Industries constructs LNG carriers with advanced insulation and propulsion systems, focusing on reducing fuel consumption and operational costs.

10. China State Shipbuilding Corporation (CSSC)

Company NameChina State Shipbuilding Corporation (CSSC)
Established Year1999
HeadquartersBeijing, China
Official WebsiteClick Here

CSSC builds LNG carriers for domestic and global markets, incorporating innovative containment technologies and supporting China’s expanding LNG trade capacity.

How big is the LNG carrier market : FAQs

It was valued at USD 6.4 Billion in 2024 and is projected to reach USD 9.23 Billion by 2031.
The LNG carrier market is expected to grow at a CAGR of 5.60% from 2025 to 2031.
Rising LNG trade, fleet modernization, technological upgrades, and terminal expansions.
Larger vessel adoption, dual-fuel propulsion, reliquefaction systems, and digital monitoring.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
6Wresearch Support

Any Query

Call: +91-11-4302-4305
Email us: sales@6wresearch.com
Any Query? Click Here

Industry Events and Analyst Meet

Our Clients

Airtel
Canon
Contec
HoneyWell
Kriloskar
Pwc Logo
Samsung
Tata Teleservices

Whitepaper

Read All