Market Overview:
The global tanker shipping market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas products, especially in developing countries. In addition, the growth of the e-commerce sector is also contributing to the growth of the tanker shipping market. The global tanker shipping market can be segmented on the basis of type, application and region. On the basis of type, it can be divided into oil tankers, chemical tankers, LNG carriers and others. The oil tankers segment is expected to account for a major share in terms of revenue in 2018 owing to high demand for transportation services for crude oil products across regions.
Product Definition:
Tanker Shipping is the transportation of crude oil and petroleum products by sea. It is important because it helps to move large quantities of these products around the world, and it also helps to ensure that these products are available when needed.
Oil Tankers:
Oil tankers are cargo vessels that transport petroleum or oil in bulk from one place to another. They are designed to carry a minimum of 15,000 barrels (6,iber) of oil and have the ability to carry up to 180,000 barrels (52,600 Ib) depending on the type. The global demand for transportation has been increasing rapidly over recent years owing particularly on account of growing energy needs across the globe.
Chemical Tankers:
Chemical tankers are vessels designed to carry bulk chemicals including flammable and non-flammable liquids, acids, bases, solvents and powders. These tankers can be either self-propelled or berthed. Chemical tankers are used for the transportation of hazardous goods in both commercial and domestic shipping services.
Application Insights:
Inland application dominated the market with a revenue share of over 60% in 2017. Growing demand for petroleum products across the globe has resulted in an increased requirement of tankers to transport these products from source to destination points. Petroleum and chemical industries are developing rapidly, which is anticipated to boost the growth of this segment over the forecast period.
The coastal segment is expected register significant growth during the study period owing to rising awareness regarding environmental protection and growing concerns among governments about marine pollution along with increasing development expenditure on ports & waterways across countries such as China, India and Japan. Also, stringent regulations adopted by various governments including Australia, Brazil, Canada (Marine Liability Act), China (Oil Spill Prevention & Response Regulations) France (Law on Oiled Vessels), Germany (Federal Water Pollution Control Law), Indonesia (Coastal Management Law No.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a significant increase in demand for tankers on account of rapid industrialization and urbanization, which has led to an increased requirement for petroleum products and chemicals among others. China is one of the largest economies that are involved in international trade activities through their extensive waterway network across several oceans.
The U.S., being a major oil producer as well as consumer, accounts for a substantial share of North America's maritime trade activities across all modes including inland waterways, coastal shipping, Great Lakes shipping etc.; thereby contributing significantly to North America's overall revenue generation fromtanker services over the past few years. However, with increasing tensions between various countries such as Iran & USA; Venezuela & USA; Russia & NATO states; China & Japan etc.
Growth Factors:
- Increasing demand for oil and gas due to rapid industrialization and urbanization in emerging economies.
- Proliferation of new technologies such as hydraulic fracturing (fracking) that has increased the production of shale gas in the US and other countries, driving up demand for tanker shipping services.
- Stringent environmental regulations on emissions from ships that are encouraging the use of cleaner fuels and technological innovations such as scrubbers to reduce air pollution from ships, which is benefiting tanker shipping companies.
- Rising global trade due to increasing economic globalization, which is resulting in an increase in demand for seaborne transportation services including tanker shipping services 5 Increased focus by ship owners on cost-efficiency measures such as vessel consolidation, slow steaming etc., which is helping improve profitability margins
Scope Of The Report
Report Attributes
Report Details
Report Title
Tanker Shipping Market Research Report
By Type
Oil Tankers, Chemical Tankers, LNG Carrier, Others
By Application
Inland, Coastal, Deep Sea
By Companies
Teekay Corp, Frontline Ltd, Tsakos Energy Navigation, Nordic American Tanker, COSCO, Ship Finance International Limited, DHT Holdings Inc, Eastern Pacific Shipping, Mitsui O.S.K. Lines, AET, The Maersk Group, Orient Overseas Container Line Limited
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
135
Number of Tables & Figures
95
Customization Available
Yes, the report can be customized as per your need.
Global Tanker Shipping Market Report Segments:
The global Tanker Shipping market is segmented on the basis of:
Types
Oil Tankers, Chemical Tankers, LNG Carrier, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Inland, Coastal, Deep Sea
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Teekay Corp
- Frontline Ltd
- Tsakos Energy Navigation
- Nordic American Tanker
- COSCO
- Ship Finance International Limited
- DHT Holdings Inc
- Eastern Pacific Shipping
- Mitsui O.S.K. Lines
- AET
- The Maersk Group
- Orient Overseas Container Line Limited
Highlights of The Tanker Shipping Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Oil Tankers
- Chemical Tankers
- LNG Carrier
- Others
- By Application:
- Inland
- Coastal
- Deep Sea
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tanker Shipping Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tanker shipping is a type of shipping that uses large, specially designed tankers to transport oil and other liquids. Tankers are often the largest ships in the world and can carry a lot of cargo. They are also very expensive to operate, which is why they are usually only used for long-distance transportation.
Some of the major players in the tanker shipping market are Teekay Corp, Frontline Ltd, Tsakos Energy Navigation, Nordic American Tanker, COSCO, Ship Finance International Limited, DHT Holdings Inc, Eastern Pacific Shipping, Mitsui O.S.K. Lines, AET, The Maersk Group, Orient Overseas Container Line Limited.
The tanker shipping market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tanker Shipping Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tanker Shipping Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tanker Shipping Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tanker Shipping Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tanker Shipping Market Size & Forecast, 2018-2028
4.5.1 Tanker Shipping Market Size and Y-o-Y Growth
4.5.2 Tanker Shipping Market Absolute $ Opportunity
Chapter 5 Global Tanker Shipping Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Tanker Shipping Market Size Forecast by Type
5.2.1 Oil Tankers
5.2.2 Chemical Tankers
5.2.3 LNG Carrier
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Tanker Shipping Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Tanker Shipping Market Size Forecast by Applications
6.2.1 Inland
6.2.2 Coastal
6.2.3 Deep Sea
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tanker Shipping Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tanker Shipping Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Tanker Shipping Analysis and Forecast
9.1 Introduction
9.2 North America Tanker Shipping Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Tanker Shipping Market Size Forecast by Type
9.6.1 Oil Tankers
9.6.2 Chemical Tankers
9.6.3 LNG Carrier
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Tanker Shipping Market Size Forecast by Applications
9.10.1 Inland
9.10.2 Coastal
9.10.3 Deep Sea
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Tanker Shipping Analysis and Forecast
10.1 Introduction
10.2 Europe Tanker Shipping Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Tanker Shipping Market Size Forecast by Type
10.6.1 Oil Tankers
10.6.2 Chemical Tankers
10.6.3 LNG Carrier
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Tanker Shipping Market Size Forecast by Applications
10.10.1 Inland
10.10.2 Coastal
10.10.3 Deep Sea
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Tanker Shipping Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Tanker Shipping Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Tanker Shipping Market Size Forecast by Type
11.6.1 Oil Tankers
11.6.2 Chemical Tankers
11.6.3 LNG Carrier
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Tanker Shipping Market Size Forecast by Applications
11.10.1 Inland
11.10.2 Coastal
11.10.3 Deep Sea
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Tanker Shipping Analysis and Forecast
12.1 Introduction
12.2 Latin America Tanker Shipping Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Tanker Shipping Market Size Forecast by Type
12.6.1 Oil Tankers
12.6.2 Chemical Tankers
12.6.3 LNG Carrier
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Tanker Shipping Market Size Forecast by Applications
12.10.1 Inland
12.10.2 Coastal
12.10.3 Deep Sea
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Tanker Shipping Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Tanker Shipping Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Tanker Shipping Market Size Forecast by Type
13.6.1 Oil Tankers
13.6.2 Chemical Tankers
13.6.3 LNG Carrier
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Tanker Shipping Market Size Forecast by Applications
13.10.1 Inland
13.10.2 Coastal
13.10.3 Deep Sea
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tanker Shipping Market: Competitive Dashboard
14.2 Global Tanker Shipping Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Teekay Corp
14.3.2 Frontline Ltd
14.3.3 Tsakos Energy Navigation
14.3.4 Nordic American Tanker
14.3.5 COSCO
14.3.6 Ship Finance International Limited
14.3.7 DHT Holdings Inc
14.3.8 Eastern Pacific Shipping
14.3.9 Mitsui O.S.K. Lines
14.3.10 AET
14.3.11 The Maersk Group
14.3.12 Orient Overseas Container Line Limited
