Tanker shipment Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Tanker shipment industry. The report analyzes and declares the historical and current trends analysis of the tanker shipment industry and subsequently recommends the projected trends anticipated to be observed in the tanker shipment market during the upcoming years.

The tanker shipment market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire tanker shipment market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

Key Insights from Primary Research

• Extensive interviews with CXO’s of the major companies operating in the global tanker shipment market, the primary research concludes that the global tanker shipment market to witness a steady growth of nearly 3.2 % over the forecast period.
• In the year 2019, the market was valued at USD 2097.09 million, in 2019 and is expected to be valued over USD 2614.42 million.
• On the basis of the shipment type segment, oil tankers dominated the global tanker shipment market in 2019. The chemical tanker shipment is expected to exhibit highest growth rate over the forecast period.
• The coastal and deep sea are expected to contribute significant transport share in the route based segmentation. The coastal routes are expected to witness rise in tanker shipments especially in the Asia Pacific region and North American region.
• Asia Pacific market is expected to be the fastest growing region for tanker shipment over the forecast period. Th region is also expected to occupy significant chunk of global tanker shipment market share. The primary growth factor in the region is the strengthening economies and industrial sector in the region.

Key Recommendations from Analysts

• Higher demand for crude oil and chemicals are major factors that are expected to drive the development of the tanker shipment market in the near future.
• The strategic developments such as regional expansion and product innovations by the major companies is likely to boom the global tanker shipment number over the up-coming years.
• Our analysts recommend that the Asia Pacific region is predicted to witness a significant growth attributed to the growing demand for tanker shipment from China and India.   
• Rising economic conditions, growing regional trade especially in emerging market are anticipated to fuel the tanker shipment market growth in the developing regions over the forthcoming years.
• The Liquified gas transport and chemical transport are expected to remain main stay for global tanker shipment in long distant forecast.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the tanker shipment industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the tanker shipment industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the tanker shipment market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the tanker shipment industry. The tanker shipment market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the tanker shipment sector. Key strategic developments in the Tanker shipment market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the tanker shipment market are appropriately highlighted in the report.

The rising demand for chemicals with the widening application has led to increase in chemical shipments worldwide. In addition to above, expansion of chemical industries in rising economies in the Asia Pacific and the Latin American region has increased the intake of chemicals. These developments have led to increase in volume of chemical shipments which in turn is expected to drive the global tanker shipment market.

Additionally, the crude oil shipment continues to contribute as major shipped liquid. The rise in crude oil production and shipment in different oil extracting countries is expected to fuel the growth of market in foreseeable future. However, long term future of crude oil shipment remains uncertain with the world closely shifting towards ecofriendly energy solutions.

Report Scope

The tanker shipment market research report delivers an acute valuation and taxonomy of the tanker shipment industry by practically splitting the market based on shipment type, tanker type, transportation route and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the tanker shipment industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the tanker shipment industry is provided for the leading economies of the world.

The tanker shipment market is segmented based on shipment type, tanker type, transportation route and region. On the basis of shipment type segmentation, the market is classified into oil tankers, chemical tankers, LNG tankers and others. On the basis of tanker type, the market is bifurcated into 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. On the basis of transportation route, the market is segmented into inland, coastal and deep sea.

Some of the essential players operating in the tanker shipment market, but not restricted to include

• Tsakos Energy Navigation
• Teekay Corp
• Frontline Ltd
• COSCO
• DHT Holdings Inc
• Ship Finance International Limited
• Nordic American Tanker
• Mitsui O.S.K. Lines
• Eastern Pacific Shipping
• The Maersk Group
• Orient Overseas Container Line Limited and AET.

The taxonomy of the tanker shipment industry by its scope and segmentation is 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
  • Germany
  • The UK
  • France
  • Spain
  • 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 Middle East & Africa