LNG is one of several gases transported by sea. The gas carrier market also includes LPG (propane, butane), ethylene, and, increasingly, ammonia.

The Spectrum of Gas Carriers

The [LSI keyword: gas carrier market] is segmented by cargo type. LNG carriers (fully refrigerated, -162°C) are the most complex and expensive. LPG carriers (fully refrigerated, semi-refrigerated, or pressurized) carry propane and butane. The gas carrier market for LPG is larger than for LNG in terms of number of vessels, but smaller in terms of cargo value. Ethylene carriers (specialized, carry ethylene at -104°C) are a niche. The gas carrier market for "ammonia" (which can be carried in LPG carriers with modifications) is growing, as ammonia is a candidate hydrogen carrier. The gas carrier market for "VLGC" (very large gas carriers, for LPG) are the largest LPG ships. The gas carrier market for "MGC" (medium gas carriers) and "SGC" (small gas carriers) are also segments.

The gas carrier market for LNG and LPG have different containment systems. LNG uses membrane or Moss tanks. LPG uses spherical tanks (Type C) or prismatic tanks (Type A or B). The gas carrier market for "pressurized" LPG carriers (which do not need refrigeration) are used for small volumes. The gas carrier market for "fully refrigerated" LPG carriers (which carry large volumes at -42°C for propane, -0.5°C for butane) are the most common. The gas carrier market for "semi-refrigerated" LPG carriers operate at intermediate pressures and temperatures.

The Future: Hydrogen and Ammonia

The gas carrier market is evolving to carry new cargoes. Ammonia (NH3) is being considered as a hydrogen carrier (hydrogen is difficult to liquefy; it is easier to convert it to ammonia, ship it, and then "crack" it back to hydrogen at the destination). The gas carrier market for "ammonia" carriers is expected to grow. The gas carrier market for "liquid hydrogen" carriers is still at the prototype stage (the first liquid hydrogen carrier, Suiso Frontier, was launched in 2019). The gas carrier market for "CO2" carriers (for carbon capture and storage) is a potential future segment.

As the gas carrier market continues to evolve, the focus will be on new containment systems (for liquid hydrogen, which is even colder than LNG, -253°C), on retrofitting existing carriers for new cargoes, and on dual-fuel engines (burning the cargo as fuel). The gas carrier market is not just about LNG; it is about the future of low-carbon energy transport.

Gain a competitive edge with insightful market reports:

electric heat pump water heater market share 2026

heat pump water heater manufacturers

heat pump water heater market

hot water heater pumps