Market overview
The global LNG carrier market is worth USD 16.1 bn in 2026 and is forecast to reach USD 22.7 bn by 2036, growing at a 3.5% CAGR. Qatar is the largest country market and Membrane Mark III type is the largest by containment segment.
| Scope | Newbuilt ocean-going ships that carry liquefied natural gas at minus 162 degrees Celsius, in membrane and independent-tank designs, valued at delivery prices. |
|---|---|
| Industry | Oil and Gas |
| Value 2025 | USD 15.3 bn |
| Value 2026 | USD 16.1 bn |
| Value 2036 | USD 22.7 bn |
| CAGR 2026-2036 | 3.5% |
| Volume 2026 | 62.4 vessels |
| Volume 2036 | 79.7 vessels |
| Average price 2026 | USD 257,600,000 per vessel |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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LNG Carrier market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 16.1 bn |
| 2027 | USD 16.6 bn |
| 2028 | USD 17.2 bn |
| 2029 | USD 17.8 bn |
| 2030 | USD 18.4 bn |
| 2031 | USD 19.1 bn |
| 2032 | USD 19.7 bn |
| 2033 | USD 20.4 bn |
| 2034 | USD 21.2 bn |
| 2035 | USD 21.9 bn |
| 2036 | USD 22.7 bn |
LNG Carrier market segmentation
By containment
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Membrane Mark III type | 60.0% | 60.4% | USD 9.6 bn | 3.6% |
| Membrane NO96 and others | 32.0% | 32.2% | USD 5.1 bn | 3.6% |
| Moss and independent tank | 8.0% | 7.3% | USD 1.3 bn | 2.6% |
By capacity
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Below 150k cubic metres | 14.0% | 14.6% | USD 2.2 bn | 4.0% |
| 150k to 200k cubic metres | 78.0% | 76.2% | USD 12.5 bn | 3.3% |
| Above 200k cubic metres | 8.0% | 9.2% | USD 1.3 bn | 5.0% |
By propulsion
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Dual-fuel diesel electric and two-stroke | 88.0% | 85.9% | USD 14.1 bn | 3.2% |
| Steam turbine and others | 2.0% | 1.5% | USD 321 mn | 0.5% |
| LNG-fuelled with air lubrication or ammonia-ready | 10.0% | 12.6% | USD 1.6 bn | 6.0% |
By charter term
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Over 5 years | 62.0% | 55.0% | USD 10.0 bn | 2.3% |
| 1 to 5 years | 20.0% | 22.0% | USD 3.2 bn | 4.5% |
| Under 1 year or spot | 18.0% | 23.0% | USD 2.9 bn | 6.1% |
By owner type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Specialist LNG shipowners | 38.0% | 36.0% | USD 6.1 bn | 2.9% |
| Energy majors | 22.0% | 20.0% | USD 3.5 bn | 2.5% |
| National and utility fleets | 24.0% | 26.0% | USD 3.9 bn | 4.3% |
| Lessors and financial owners | 16.0% | 18.0% | USD 2.6 bn | 4.7% |
Top 25 countries for LNG carrier by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 80.0% of 2026 revenue and the 25 countries below together hold 94.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | Qatar | USD 2.9 bn | 18.0% | USD 4.3 bn | 4.1% |
| 2 | United States | USD 1.9 bn | 12.0% | USD 2.7 bn | 3.5% |
| 3 | Japan | USD 1.8 bn | 11.0% | USD 2.4 bn | 3.0% |
| 4 | Greece | USD 1.6 bn | 10.0% | USD 2.2 bn | 3.1% |
| 5 | Norway | USD 1.1 bn | 7.0% | USD 1.6 bn | 3.5% |
| 6 | United Kingdom | USD 1.1 bn | 7.0% | USD 1.6 bn | 3.5% |
| 7 | Singapore | USD 964 mn | 6.0% | USD 1.4 bn | 3.5% |
| 8 | Monaco | USD 803 mn | 5.0% | USD 1.1 bn | 3.1% |
| 9 | South Korea | USD 321 mn | 2.0% | USD 431 mn | 3.0% |
| 10 | China | USD 321 mn | 2.0% | USD 476 mn | 4.0% |
| 11 | Malaysia | USD 283 mn | 1.8% | USD 383 mn | 3.1% |
| 12 | India | USD 255 mn | 1.6% | USD 433 mn | 5.4% |
| 13 | Russia | USD 230 mn | 1.4% | USD 310 mn | 3.1% |
| 14 | Taiwan | USD 207 mn | 1.3% | USD 281 mn | 3.1% |
| 15 | Australia | USD 186 mn | 1.2% | USD 252 mn | 3.0% |
| 16 | Germany | USD 167 mn | 1.0% | USD 227 mn | 3.1% |
| 17 | France | USD 151 mn | 0.9% | USD 204 mn | 3.0% |
| 18 | Canada | USD 135 mn | 0.8% | USD 184 mn | 3.1% |
| 19 | Netherlands | USD 122 mn | 0.8% | USD 165 mn | 3.1% |
| 20 | Spain | USD 109 mn | 0.7% | USD 150 mn | 3.2% |
| 21 | Italy | USD 98 mn | 0.6% | USD 134 mn | 3.2% |
| 22 | United Arab Emirates | USD 88 mn | 0.6% | USD 150 mn | 5.4% |
| 23 | Turkey | USD 80 mn | 0.5% | USD 109 mn | 3.1% |
| 24 | Denmark | USD 72 mn | 0.5% | USD 97 mn | 3.0% |
| 25 | Mozambique | USD 64 mn | 0.4% | USD 109 mn | 5.4% |
| Rest of world | USD 964 mn | 6.0% | USD 1.4 bn | 3.6% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- HD Hyundai Heavy Industries
- Samsung Heavy Industries
- Hanwha Ocean
- Hudong-Zhonghua Shipbuilding
Group 2: Regional and specialist players
- Dalian Shipbuilding Industry
- Mitsubishi Heavy Industries
- Kawasaki Heavy Industries
- Hyundai Samho Heavy Industries
Group 3: Emerging and niche players
- Jiangnan Shipyard
- Chantiers de l'Atlantique
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the LNG carrier market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 3.5% is calculated from the resulting values.
The market is divided by containment, by capacity, by propulsion, by charter term, by owner type. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the LNG carrier market?
The global LNG carrier market is estimated at USD 15.3 bn in 2025 and USD 16.1 bn in 2026.
How fast will the LNG carrier market grow?
It is forecast to reach USD 22.7 bn by 2036, a compound annual growth rate of 3.5% from 2026, an increase of USD 6.6 bn.
Which country is the largest market for LNG carrier?
Qatar is the largest market by revenue at USD 2.9 bn in 2026, 18.0% of the global total. The three largest countries together hold 41.0%.
Which country is growing fastest?
Among the ten largest markets, Qatar is growing fastest at 4.1% a year from 2026 to 2036.
Which LNG carrier segment is largest?
In the by containment split, Membrane Mark III type is the largest segment with 60.0% of 2026 revenue.
Who are the leading LNG carrier companies?
Global leaders include HD Hyundai Heavy Industries, Samsung Heavy Industries, Hanwha Ocean, Hudong-Zhonghua Shipbuilding.
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