Oil tanker Cargo Ships Market was valued at USD 70 Billion in 2022 and is projected to reach USD 112 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
Looking ahead, the market outlook from 2023 to 2033 is poised for more steady growth, driven by multiple factors, including the recovery of global economies and increasing demand for oil in developing regions. As the global economy expands, particularly in Asia and Africa, there is expected to be a greater reliance on oil and petroleum products, fueling the demand for oil tankers. Additionally, advancements in shipping technology and increased investments in vessel efficiency are expected to support market growth. However, challenges such as fluctuating oil prices, geopolitical risks, and tightening environmental regulations remain factors that could hinder consistent growth in this sector.
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The oil tanker cargo ships market has seen notable fluctuations from 2018 to 2022, with the demand experiencing a sharp recovery post-2020 following the global pandemic’s disruptive effects. The pandemic-induced slowdown in 2020 affected both the global oil supply and shipping demand, but by 2021, the market began its rebound, driven by increasing global oil consumption and a rise in trade flows. Between 2018 and 2022, the market was also impacted by fluctuating oil prices, environmental regulations, and the adoption of more efficient shipping technologies. These factors led to varied growth rates in the oil tanker sector, as companies adjusted to shifting consumer demand and stricter environmental standards.
Anhui Peida Ship Engineering
Astilleros Jose Valiña
Astilleros Zamakona
Bodewes Shipyards B.V.
Brodosplit Shipyard
Construcciones Navales Del Norte
CSBC Corporation
DAEWOO SHIPBUILDING
Damen
General Dynamics NASSCO
Greenbay marine
HANJIN HEAVY INDUSTRIES AND CONSTRUCTION
Hijos de J. Barreras
Hitzler Werft
HYUNDAI HEAVY INDUSTRIES
Imabari Shipbuilding
MITSUBISHI HEAVY INDUSTRIES - Ship & Ocean
Mitsui Engineering & Shipbuilding
Namura Shipbuilding
Nuovi Cantieri Apuania
SAMSUNG HEAVY INDUSTRIES
SembCorp Marine
STX SHIPBUILDING
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Oil tanker Cargo Ships Market
Deep Sea
Offshore
Based on Types the Market is categorized into Below types that held the largest Oil tanker Cargo Ships market share In 2023.
VLCC
ULCC
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Oil tanker Cargo Ships Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Oil tanker Cargo Ships Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Oil tanker Cargo Ships Market, By Type
6. Global Oil tanker Cargo Ships Market, By Application
7. Global Oil tanker Cargo Ships Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Oil tanker Cargo Ships Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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