Crude Oil Carriers Market is expected to reach US$ 316.79 Bn. at a CAGR of 4.2% during the forecast period 2029.

Crude Oil Carriers Market Overview:

Crude Oil Carriers Market is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis.

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Market Scope:

Using both primary and secondary research approaches, we researched the Crude Oil Carriers Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analysed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.

Dynamic:

The demand for crude oil carriers is fueled by factors like crude oil production, refinery operations, and oil product consumers. The increased demand for most oil transportation facilities and services is expected to drive the market expansion over the course of the forecast period due to the accelerated pace of industrialization and globalisation, which is spurring considerable economic growth in both developing and urbanised nations. The fluctuation in crude oil prices and the high cost of capital to purchase new or used carrier ships, however, are limiting the market's ability to expand globally. It is anticipated that fewer triangulations and longer haul alternatives or backhaul routes to reduce ballasting will benefit industry participants.

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Segmentation:

In 2022, Suezmax held about 14% of the market for crude oil transports. Approximately 1 million barrels of crude oil can be carried on a tanker vessel, which can handle both shorter regional trades and longer hauls for cargo.

In 2022, Aframax held roughly 21% of the market share for crude oil transports, with Panamax holding the remaining 2%. A tanker vessel with a capacity of roughly 0.7 million barrels of crude oil is employed mostly in regional trades to transport crude oil or filthy products (fuel oil).

By Hull Type
Single Bottom
Double Hull
Double Bottom

By Vessel Type
Suezmax
Panamax
Aframax
Small
Medium
Very large crude carriers
Ultra Large crude carriers

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Key Players:

The report also focuses on the global main industry players in the Crude Oil Carriers Market, including company biographies, product images and specs, capacity, production, price, cost, revenue, and contact information. The study examines prominent Crude Oil Carriers market businesses and ranks them in the market. The following players are featured in this report:

1. Maersk Tankers
2. China Shipping Tanker Co.
3. Essar Shipping
4. Kuwait Oil Tankers Co.
5. Tankers International LLC.
6. OSG Ship Management Inc.
7. Keystone Alaska LLC
8. Alaska Tanker Co.
9. Shipping Corporation of India
10.Teekay Corporation
11.Frontline
12.Tsakos Energy Navigation Limited
13.Nordic American Tankers
14.Ship Finance International Limited
15.Taiyo Cabletec Corporation
16.China Cosco Shipping Corporation Limited
17.China Merchants Group Ltd.
18.National Iranian Oil Company (NIOC)
19.The National Shipping Co. Saudi Arabia
20.Euronav NV
21.Angelicoussis Shipping Group Ltd.
22.Minerva Marine Inc.
23.Petroliam Nasional Berhad (PETRONAS)
24.Sovcomflot Group
25.Dynacom Tankers Management Ltd.
26.Maran Tankers Management Inc.

Regional Analysis:

The Crude Oil Carriers market in each area is further segmented into regions and segments. The study examines and anticipates several nations, as well as current trends and opportunities in the area.

COVID-19 Impact Analysis on Crude Oil Carriers Market:

The primary goal of the research is to provide enterprises in the industry with a strategic analysis of the impact of COVID-19. Simultaneously, this research investigated the marketplaces of significant nations and presented their market potential.

Key Questions Answered in the Crude Oil Carriers Market Report are:

  • What are some of the promising growth opportunities in the  Crude Oil Carriers market by product type and Region?
  • Which Crude Oil Carriers market segments will grow the fastest, and why?
  • Which regions will develop quicker?
  • What are the elements influencing Crude Oil Carriers market?
  • What are the Crude Oil Carriers market’s business risks?

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