Report Update May 25, 2024

World - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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Global Tanker Market 2024

Tanker Market Size

The global tanker market soared to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the global market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Tanker Production

In value terms, tanker production amounted to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. Global production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Tanker Exports

Exports

In 2023, overseas shipments of tankers decreased by X% to X units for the first time since 2019, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The global exports peaked at X units in 2022, and then dropped rapidly in the following year.

In value terms, tanker exports dropped to $X in 2023. In general, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the global exports hit record highs at $X in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X units, which was near X% of total exports in 2023. The following exporters - South Korea (X units) and Norway (X units) - each accounted for a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2023. At the same time, Norway (X%) displayed positive paces of growth. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest tanker supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of global exports.

In South Korea, tanker exports plunged by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Norway (X% per year).

Export Prices by Country

The average tanker export price stood at $X,083 per unit in 2023, jumping by X% against the previous year. Over the period under review, the export price, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The global export price peaked at $X,879 per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X,189 per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other global leaders experienced a decline in the export price figures.

Tanker Imports

Imports

After two years of decline, purchases abroad of tankers increased by X% to X units in 2023. Over the period under review, imports showed a resilient increase. Global imports peaked at X units in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, tanker imports fell slightly to $X in 2023. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Global imports peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

South Africa dominates imports structure, reaching X units, which was near X% of total imports in 2023. Belgium (X units) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the tankers imports, with a CAGR of X% from 2012 to 2023. At the same time, Belgium (X%) displayed positive paces of growth. South Africa (X p.p.) and Belgium (X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported tankers worldwide, comprising X% of global imports. The second position in the ranking was taken by South Africa ($X), with a X% share of global imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Belgium stood at X%.

Import Prices by Country

The average tanker import price stood at $X,625 per unit in 2023, dropping by X% against the previous year. In general, the import price faced a abrupt slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X,881 per unit in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($X,645 per unit), while South Africa amounted to $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Source: IndexBox Platform

This report provides an in-depth analysis of the global tanker market. 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:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL 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. GLOBAL 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
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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