Tanker Shipping Market is expected to grow at a CAGR of 6% during the forecast period. Tanker Shipping Market is expected to reach US$ 5.02 Bn. by 2030.
Tanker Shipping Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the Tanker Shipping Market. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Tanker Shipping market by thorough analysis, and projections are made up to 2030.
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Tanker Shipping Market Scope and Methodology:
The Tanker Shipping market report covers a wide range of topics that impact market dynamics, trends, opportunities, and challenges. It also includes a thorough analysis of the worldwide landscape. This comprehensive analysis also looks at how the market is divided into segments according to services category, company size, end-user sector, and geographical regions. The study also closely examines major industry participants, assessing their approaches, line of business, results, and place in the Tanker Shipping market. To give a comprehensive picture of the market environment, a thorough evaluation of macroeconomic variables, regulatory frameworks, and technical developments is also carried out.
Also, the research offers detailed insights into the dynamics of the Tanker Shipping market, including opportunities, challenges, constraints, and drivers. Using a bottom-up methodology, estimates of the size of the worldwide and regional Tanker Shipping market were developed. The study provides a thorough value chain analysis that clarifies the Tanker Shipping production process and incorporates information about distributors, consumers, and raw materials. Furthermore, the use of PORTER and PESTLE studies, in conjunction with evaluations of market attractiveness, enhances comprehension of the Tanker Shipping market on a global and micro level.
Tanker Shipping Market Segmentation:
by Tanker Type
Tonnage
Ultra Large Crude Carriers (ULCC)
Very Large Crude Carriers (VLCC)
Suezmax
Capacity
Large Range 2
Large Range 1
Medium Range 2
Medium Range 1
Intermediate Tanker
Small tanker
VLCC carriers are renowned for their dependability and large capacity for shipping. Millions of gallons of oil and natural gas are anticipated to move eastward due to the US-China trade, and crude oil exports from the Middle East to North America are rising. In 2021, the Chinese government eliminated the trade restrictions and transportation fees imposed on VLCCs. The economic climate has caused VLCCs' supply chains to expand dramatically between 2021 and 2022, with the exception of 2021, when the COVID pandemic caused prices to plummet, resulting in a drop in VLCC revenues from $100,000 USD per day to $15,000. Suezmax is a tanker with strong technological improvements that carries a minimal volume. Shipping companies utilize the aforementioned tankers even though Suezmax is regarded as a modest capacity tanker.
by Fluid type
Crude Oil
Fuel
Vegetable Oil
CNG
LPG
Wine
Molasses
Others
One of the most widely used commodities in the world is crude oil. The updated capacity of crude oil after the pandemic is 8.3 million barrels per day (bpd), according to the US Energy Information Administration. In 2021, LPG accounted for 3.8 million bpd due to rising fuel prices. Additionally, the market expansion was supported by increased exports from large producers as a result of pre-pandemic declines in oil prices. APAC accounts for over 39% of crude oil imports and is the most dominant area in terms of crude oil consumption due to the region's growing manufacturing activities.
by Shipment Route
Coastal
Deep sea
Inland
Due to their ability to save time and increase transit efficiency, inland sea routes are preferred by many shipping businesses. For example, more than 53 ships, including VLCCs, ULCCs, LR2, and more than 150 light carriers, pass through the Suez Canal every day, making it the busiest inland sea route in the world. Additionally, inland sea channels offer a ship halting base for shipments and crew, which boosts local businesses in the area.
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Tanker Shipping Market Key Players:
1. Nordic Tankers
2. Tokyo Marine
3. MISC
4. Navig8 Chemicals
5. IINO KAIUN KAISHA
6. Stolt-Nielson
7. Euronav
8. AET Tankers
9. Mitsui O.S.K. Lines
10.Teekay
11.Odfjell
12.Sinochem
13.Hansa Tankers
14.MTMM
15.Chembulk
16.Koyo Kaiun
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Tanker Shipping Market Regional Insights :
The size and trends in the Tanker Shipping market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).
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Key questions answered in the Tanker Shipping Market are:
What is Tanker Shipping?
What was the Tanker Shipping market size in 2023?
Which are the factors expected to drive the Tanker Shipping market growth?
Who are the leading companies and what are their portfolios in Tanker Shipping Market?
What growth strategies are the players considering to increase their presence in Tanker Shipping?
What are the upcoming industry applications and trends for the Tanker Shipping Market?
What will be the CAGR at which the Tanker Shipping market will grow?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Tanker Shipping Market?
What are the different segments of the Tanker Shipping Market?
What is the growth rate of the Tanker Shipping Market?
What segments are covered in the Tanker Shipping Market?
Who are the key players in the Tanker Shipping market?
What are the key challenges and opportunities in the Tanker Shipping market?
Which application holds the highest potential in the Tanker Shipping market?
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by different segment | 2024−2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
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