Future of LNG Carrier Cargo Ships: Market to Hit USD 21.5B by 2035

Global Small to Medium Sized LNG Carrier Cargo Ship Market is projected to grow from USD 12.8 Billion in 2025 to USD 21.5 Billion by 2035, reflecting a compound annual growth rate of 6.7% from 2026 through 2035. This market encompasses vessels designed for the seaborne transport of liquefied natural gas, typically ranging in capacity from a few thousand cubic meters up to approximately 100,000 cubic meters. These carriers play a critical role in connecting smaller LNG production facilities and regasification terminals, particularly for regional distribution, bunkering, and remote power generation projects. The market is propelled by a confluence of factors, including the increasing global demand for natural gas as a cleaner burning fuel alternative, the expansion of small scale and mid scale LNG infrastructure, and growing energy security concerns in various regions.