Global Crude Oil Carrier Market, By Vessel Type (Ultra Large Crude Carriers & Very large crude carri

Published Date: | Report Code : EP1958367


Crude Oil Carriers are used to move crude oil from production spots to refineries. Other modes of transporting them are rail tank cars, pipelines, barges, and tank trucks. Crude oil carriers, mostly known as oil tankers, deliver crude oil in bulk from one location to another. Crude oil carriers are used to transfer unrefined crude oil from exploration and production facilities to crude oil refineries. Coastal tank vessel trades are carried out by using crude oil carriers.

Global crude oil carrier market is expanding with the growing demand for bulk crude oil transportation services and facilities, mostly from extraction locations to refineries. Also, increasing demand for crude oil and it’s by-products is boosting the global crude oil carrier market. Additionally, rising number of automotive and aviation industry, and increasing industrialization are the factors that are fueling the growth for global crude oil carrier market. Furthermore, longer hauls and fewer triangulation options or backhaul routes to reduce ballasting are creating growth opportunities for the global crude oil carrier market.

Key Factors Impacting Market Growth:
    • High supply of crude oil from the organization of the crude oil exporting countries
    • Healthy carriers demand due to safe crude oil supply
    • Stabilizing relations between OPEC and NON-OPEC nations
    • Seasonal variations and high logistics expenditure
    • High cost of capital required to acquire crude oil carrier

Regional Analysis:

The regional outlook for crude oil carriers market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for crude oil carriers market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of crude oil carriers market in these regions. 

Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on. Asia Pacific is estimated one of the fastest growing regions for crude oil carriers market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.

Companies Covered: AET, Teekay Corporation, Sovcomflot Group, Overseas Shipholding Group (OSG), OMAN SHIPPING COMPANY S.A.O.C., NYK line, Ocean Tankers (pte) Ltd., National Iranian Tanker Company, Mitsui O.S.K. Lines, Ltd. (MOL)., Maran Tankers Management Inc., Frontline Ltd., Euronav, Dynacom Tankers Management Ltd, China Shipping Development Corp (CSDC), and Bahri...

Market Segmentation:
By Vessel Type:
    • Ultra Large Crude Carriers (ULCC) & Very large crude carriers(VLCC)
    • Suezmax
    • Aframax
    • Panamax
    • Small
    • Medium

By Application:
    • Transportation
    • Others

By Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Vessel Type
        ◦ By Application
    • Western Europe
        ◦ By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
        ◦ By Vessel Type
        ◦ By Application
    • Eastern Europe
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By Vessel Type
        ◦ By Application
    • Asia Pacific
        ◦ By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
        ◦ By Vessel Type
        ◦ By Application
    • Middle East 
        ◦ By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
        ◦ By Vessel Type
        ◦ By Application
    • Rest of the World
        ◦ By Region (South America, Africa)
        ◦ By Vessel Type
        ◦ By Application

Reasons To Buy This Report:
    • Market size estimation of the global crude oil carrier market on regional and global basis 
    • Unique research design for market size estimation and forecast 
    • Profiling of major companies operating in the market with key developments
    • Broad scope to cover all the possible segments helping every stakeholder in the market

We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country

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