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Middle East - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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Middle East: Tanker Market 2024

Tanker Market Size in the Middle East

The Middle Eastern tanker market was finally on the rise to reach $X in 2023, after two years of decline. In general, consumption, however, saw a pronounced curtailment. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Tanker Production in the Middle East

In value terms, tanker production declined modestly to $X in 2023 estimated in export price. The total production indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Tanker Exports

Exports in the Middle East

In 2023, after four years of growth, there was significant decline in overseas shipments of tankers, when their volume decreased by X% to X units. Over the period under review, exports, however, showed significant growth. The growth pace was the most rapid in 2019 with an increase of X%. The volume of export peaked at X units in 2022, and then contracted significantly in the following year.

In value terms, tanker exports stood at $X in 2023. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) represented roughly X% of total exports in 2023.

The United Arab Emirates was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2023. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest tanker supplier in the Middle East.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, saw a significant curtailment. The pace of growth was the most pronounced in 2017 when the export price increased by X%. The level of export peaked at $X,600 per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2023, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Tanker Imports

Imports in the Middle East

In 2023, approx. X units of tankers were imported in the Middle East; picking up by X% compared with the year before. In general, imports, however, recorded a noticeable slump. The growth pace was the most rapid in 2018 with an increase of X%. The volume of import peaked at X units in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, tanker imports declined significantly to $X in 2023. Overall, imports showed a notable expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then reduced rapidly in the following year.

Imports by Country

In 2023, the United Arab Emirates (X units), Turkey (X units) and Oman (X units) represented the major importer of tankers in the Middle East, committing X% of total import. It was distantly followed by Kuwait (X units), comprising an X% share of total imports. The following importers - Bahrain (X units), Iran (X units) and Iraq (X units) - each amounted to a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tanker importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total imports. Bahrain, Iran, Oman and Iraq lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Bahrain, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X,085 per unit in 2023, with a decrease of X% against the previous year. In general, the import price, however, enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X,320 per unit. From 2018 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X,664 per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the tanker market in the Middle East. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 30112210 - Crude oil tankers
Prodcom 30112230 - Oil product tankers
Prodcom 30112250 - Chemical tankers
Prodcom 30112270 - Gas carriers

Country coverage:

Bahrain
Iran
Iraq
Israel
Jordan
Kuwait
Lebanon
Oman
Palestine
Qatar
Saudi Arabia
Syrian Arab Republic
Turkey
United Arab Emirates
Yemen

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in the Middle East, split by region and country
Trade (exports and imports) in the Middle East
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bahrain
- Iran
- Iraq
- Israel
- Jordan
- Kuwait
- Lebanon
- Oman
- Palestine
- Qatar
- Saudi Arabia
- Syrian Arab Republic
- Turkey
- United Arab Emirates
- Yemen
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023