Crude Oil Carrier Market Size, Share, Growth, Trends, Segmentation, Developments and Forecast 2023

Market Research Future published a research report on "Crude Oil Carrier Market Research Report - Forecast to 2023" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Overview:

Crude oil tankers play a remarkable role in transporting crude oil across the world. Crude oil’s importance across industries mark a strong field for the crude oil carrier market’s operation. The crude oil market is expected to benefit from it and score 247.5 USD billion valuation by 2023 with a 4.2% CAGR during the forecast period (2018-2023). Market research Future (MRFR) in their recent report on the same outlines factors that can have substantial impact on the global market.

Africa’s entry into the crude oil production market has notably expanded the operational scope for the Crude Oil Carrier Market. Its role in taking crude oils from production site to refinery point is highly acclaimed. The market is getting strong tailwinds from myriad industries who bank on the production of crude oils for better output.

Competitive Analysis

The market competitors find themselves in a promising position with the capacity to handle the pace of change. The contestants are dynamically addressing the challenges to growth and are creating strategies that can have the best overall effect on the market's development. The competitive outlook for the market is projected to diversify extensively in the coming period. The developments in the market are likely to be fuelled by the rise in investments and product inventions. The market influencers are taking an interest in the making of strong value chains that can yield increased profits. The prospects for growth in the market have ample room for growth in the forecast period. The perceived propensity for the market’s growth has improved following the accessibility to positive aspects in the market.

The major companies shaping the crude oil carrier market globally are Kuwait Oil Tanker Company S.A.K, Teekay Corporation, Shipping Corporation of India, Tsakos Energy Navigation Limited, Frontline, Nordic American Tankers, Taiyo Cabletec Corporation, Maersk Tankers, Ship Finance International Limited, Essar, and Alaska Tanker Company

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Segmentation:

MRFR’s attempt to reveal the global crude oil carrier market dynamics yields segmentation on the basis of hull type and dead weight tonnage. These two segments’ analysis is backed by value-wise and volume-wise data for a closer inspection of the market.

Based on the hull type, the crude oil carrier market can be segmented into single bottom, double hull and double bottom. The double hull segment is witnessing substantial user and is currently, the highest revenue-grosser. The situation is expected to remain the same in the coming years as well.

Based on the dead weight tonnage, the crude oil market comprises 25,000 MT-50,000 MT, 50,000 MT-75,000 MT, 75,000 MT-120,000 MT, 120,000 MT-180,000 MT, 180,000 MT -320,000 MT, and above 320,000 MT. The 180,000 MT -320,000 MT segment has the maximum taker and it fetches in the largest revenue share.

Detailed Regional Analysis

The region-based analysis of the global Crude Oil Carrier Market encompasses regions such as Latin America, Asia Pacific, North America, Europe, the Middle East, and Africa. The Asia Pacific region is increasing at an optimum rate in terms of market size and prospects in the region. The countries in the Asia Pacific region such as Japan, India, and China are accountable for encouraging the development of the crude oil carrier market in the forecast period. The region is also considerably enhanced by the freight charges for oil tankers that are altered substantially by the trends in Chinese imports.

Furthermore, the existence of main crude oil carrier operators in the region. The European region is another region acquiring prominence in terms of crude oil carriers which are evolving at a rapid rate currently. The growth in the level of crude shipping from regions such as Latin America, Africa, and the Middle East is anticipated to encourage the market in the forecast period.

Table of Content

1. Global Crude Oil Carrier Market Overview
2. Manufacturers Profiles
3. Global Crude Oil Carrier Sales, Revenue, Market Share and Competition by Manufacturer
4. Global Crude Oil Carrier Market Analysis by Regions
5. Global Market Segment by Type
6. Global Crude Oil Carrier Market Segment by Application
7. Crude Oil Carrier Market Forecast (2020-2025)
8. Sales Channel, Distributors, Traders and Dealers
9. Appendix

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Ma