Global Tanker shipment Market Projected to Reach USD 2614.42 Million by 2026

19-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “Tanker shipment Market By Shipment Type (Oil Tankers, Chemical Tankers, LNG Tankers And Others), By Tanker Type (Ultra Large Crude Carrier (ULCC), Very Large Crude Carrier (VLCC), Suezmax, Large Range 2 (LR2), Large Range 1 (LR1), Medium Range 2 (MR2), Medium Range 1 (MR1), Intermediate Tanker And Small Tanker) And By Transportation Route (Inland, Coastal And Deep Sea): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global tanker shipment market in 2019 was approximately USD 2097.09 Million. The market is expected to grow above a CAGR of 3.2% and is anticipated to reach over USD 2614.42 Million by 2026.

The shipping tankers are used for water transportation of bulk material. The tankers design varies depending upon the type of material it is intended to carry. the material carried by the tanker includes chemicals, oil (Crude oil etc.) and gas (LNG, CNG, etc.). According to its size, the tankers are differentiated among ultra large crude carrier, very large crude carrier, suezmax, large range 2, large range 1, medium range 2, medium range 1, intermediate tanker and small tanker. The VLCC tankers are considered to carry twice the capacity of suezmax tankers.

Browse the full “Tanker shipment Market By Shipment Type (Oil Tankers, Chemical Tankers, LNG Tankers And Others), By Tanker Type (Ultra Large Crude Carrier (ULCC), Very Large Crude Carrier (VLCC), Suezmax, Large Range 2 (LR2), Large Range 1 (LR1), Medium Range 2 (MR2), Medium Range 1 (MR1), Intermediate Tanker And Small Tanker) And By Transportation Route (Inland, Coastal And Deep Sea): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/tanker-shipment-market-by-shipment-type-oil-tankers-1250

The rising transportation of oil and gas is estimated to remain the primary driver for the market growth. With the declining oil prices, refineries are benefitting from the increased profit margins, thereby seeking increased import. The import of chemicals is also increasing with the expansion of the pharmaceutical and chemical industry.

Additionally, the rise in transportation of liquified hydrocarbons is expected to drive the market further. The fluctuating oil prices, government norms and irregular distribution channels are expected to limit the market growth.

Deep sea tanker routes occupied significant share of total tanker shipments. They are also expected to exhibit highest growth rate. The rise in global trade through is the primary factor for the deep sea routes to acquire major market share. The crude oil transport and gas supply are major shipments thereby occupying significant market share. The inland water routes in the North America region is expected to garner increased pace owing the rising cargo transportation in wake of reducing land transport congestion. The coastal tanker routes are expected to undergo significant growth rate. The North America crude oil export in considered to be major contributing factor for the costal route market. Additionally, the rising sea trade between India, China and South Eastern countries is further expected to cement the growth of coastal routes.

The chemical production in the North American region has been exhibiting rise in year on year growth rate. The manufacturers in the region have been expanding production capacity because of its huge natural gas potential assisted by the low prices. The United States largely distributes to Canada and Mexico followed by China and Belgium. The movement from regional supply to Asia and European markets has been on track with several major companies aiming for global shipment. The European region is anticipated to undergo steady but low growth owing to the decreased chemical production. Asia Pacific is anticipated to grow at the highest CAGR and occupied significant share of the global revenue in the forecast year of 2026. India and China are expected to exhibit strong economic growth over the foreseeable future. Additionally, the increasing demand for various liquefied substances from these regions is also catalyzing the growth rate.

Report Scope

Major players operating in the global tanker shipment market covered in this report include The Maersk Group, Ship Finance International Limited, Teekay Corp, COSCO, DHT Holdings Inc, Frontline Ltd, Tsakos Energy Navigation, Mitsui O.S.K. Lines, Nordic American Tanker, Orient Overseas Container Line Limited, AET and Eastern Pacific Shipping.

This report segments the global tanker shipment market as follow:

Global Tanker shipment Market: By Shipment Type Segmentation Analysis

• Oil Tankers
• Chemical Tankers
• LNG Tankers
• Others

Global Tanker shipment Market: By Tanker Type Segmentation Analysis

• Ultra Large Crude Carrier (ULCC)
• Very Large Crude Carrier (VLCC)
• Suezmax
• Large Range 2 (LR2)
• Large Range 1 (LR1)
• Medium Range 2 (MR2)
• Medium Range 1 (MR1)
• Intermediate Tanker
• Small Tanker

Global Tanker shipment Market: By Transportation Route Segmentation Analysis

• Inland
• Coastal
• Deep Sea

Global Tanker shipment Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

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