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GCC - Tankers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGCC: Tanker Market 2024
Tanker Market Size in GCC
In 2023, the GCC tanker market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, continues to indicate a abrupt decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.
Tanker Production in GCC
In value terms, tanker production expanded significantly to $X in 2023 estimated in export price. Overall, production posted a strong expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.
Tanker Exports
Exports in GCC
In 2023, after four years of growth, there was significant decline in shipments abroad of tankers, when their volume decreased by X% to X units. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked at X units in 2022, and then reduced rapidly in the following year.
In value terms, tanker exports shrank to $X in 2023. Over the period under review, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then fell in the following year.
Exports by Country
The shipments of the one major exporters of tankers, namely the United Arab Emirates, represented more than two-thirds of total export.
The United Arab Emirates was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of the United Arab Emirates increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United Arab Emirates ($X) also remains the largest tanker supplier in GCC.
From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates totaled X%.
Export Prices by Country
In 2023, the export price in GCC amounted to $X per unit, picking up by X% against the previous year. In general, the export price, however, showed a precipitous shrinkage. The pace of growth was the most pronounced in 2017 an increase of X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.
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 GCC
In 2023, overseas purchases of tankers increased by X% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.
In value terms, tanker imports reduced rapidly to $X in 2023. In general, imports showed a temperate expansion. The growth pace was the most rapid in 2022 when imports increased by X%. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.
Imports by Country
In 2023, the United Arab Emirates (X units) represented the largest importer of tankers, mixing up X% of total imports. Oman (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%). Bahrain (X units) took a minor share of total imports.
From 2012 to 2023, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.
Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 GCC stood at $X,652 per unit in 2023, dropping by X% against the previous year. In general, the import price, however, recorded a prominent increase. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X,749 per unit, and then contracted remarkably in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Bahrain ($X,664 per unit), while Oman ($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 GCC. 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:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in GCC, split by region and country
- Trade (exports and imports) in GCC
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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