Market Research Future published a research report on “Crude Oil Carrier Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Crude Oil Carrier Market – Overview
The surge in oil transportation globally is expected to boost the crude oil carrier market substantially. Market reports linked with the energy and power industry have been offered by Market Research Future which generates reports on other industry verticals that aims to study the current market scenarios better. The market is anticipated to attain a 4.2% CAGR while generating incomes valued at USD 247.5 billion by the end of the forecast period.
The development of a robust energy supply chain is expected to encourage the progress of the Crude Oil Carrier Market in the duration of the forecast period. The upsurge in the crude oil extraction activities on a global scale is expected to raise the demand for crude oil carriers further. Furthermore, the growth in production points to refinery routes is anticipated to spur the requirements for crude oil carriers in the coming years.
The market competitors find themselves in a promising position with the capacity to handle the pace of change. The contestants are dynamically addressing the challenges to growth and are creating strategies that can have the best overall effect on the market's development. The competitive outlook for the market is projected to diversify extensively in the coming period. The developments in the market are likely to be fuelled by the rise in investments and product inventions. The market influencers are taking an interest in the making of strong value chains that can yield increased profits. The prospects for growth in the market have ample room for growth in the forecast period. The perceived propensity for the market’s growth has improved following the accessibility to positive aspects in the market.
The major companies shaping the crude oil carrier market globally are Kuwait Oil Tanker Company S.A.K, Teekay Corporation, Shipping Corporation of India, Tsakos Energy Navigation Limited, Frontline, Nordic American Tankers, Taiyo Cabletec Corporation, Maersk Tankers, Ship Finance International Limited, Essar, and Alaska Tanker Company
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The segmental analysis of the crude oil carrier market is conducted on the basis of hull type, region, and dead weight tonnage. Based on the hull type, the crude oil carrier market is segmented into double hull, single bottom, and double bottom. On the basis of dead weight tonnage, the market for crude oil carrier is segmented into 50,000 MT-75,000 MT, 120,000 MT-180,000 MT, 75,000 MT-120,000 MT, 25,000 MT-50,000 MT, 180,000 MT -320,000 MT, and above 320,000 MT. The regions included in the crude oil carrier market are Asia Pacific, North America, Europe, Latin America, Middle East, and Africa.
Detailed Regional Analysis
The region-based analysis of the global Crude Oil Carrier Market encompasses regions such as Latin America, Asia Pacific, North America, Europe, the Middle East, and Africa. The Asia Pacific region is increasing at an optimum rate in terms of market size and prospects in the region. The countries in the Asia Pacific region such as Japan, India, and China are accountable for encouraging the development of the crude oil carrier market in the forecast period. The region is also considerably enhanced by the freight charges for oil tankers that are altered substantially by the trends in Chinese imports.
Furthermore, the existence of main crude oil carrier operators in the region. The European region is another region acquiring prominence in terms of crude oil carriers which are evolving at a rapid rate currently. The growth in the level of crude shipping from regions such as Latin America, Africa, and the Middle East is anticipated to encourage the market in the forecast period.
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Table of Content
- Global Crude Oil Carrier Market Overview
- Manufacturers Profiles
- Global Crude Oil Carrier Sales, Revenue, Market Share and Competition by Manufacturer
- Global Crude Oil Carrier Market Analysis by Regions
- Global Market Segment by Type
- Global Crude Oil Carrier Market Segment by Application
- Crude Oil Carrier Market Forecast (2020-2025)
- Sales Channel, Distributors, Traders and Dealers
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