Crude Oil Carriers Market Analysis, Status and Business Outlook 2021 to 2025

The report is designed to provide a holistic view of the Crude Oil Carriers Market 2021-2025. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; revenue, demands, and supply data (as applicable). High-level interpretation of Crude Oil Carriers Market attributes using proprietary tools such as the Penetration Mapping Index, and other successful representational tools such as Porter’s Five Forces Analysis, SWOT, PESTEL, Ansoff’s Matrix, etc. Regional estimates and forecasts & trend analysis for each country and region are also available in the study. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Crude Oil Carriers Market investments from 2021 till 2025.

The crude oil carriers market is expected to register a CAGR of over 2.5% during the forecast period 2020 - 2025.

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The Crude Oil Carriers Market is highly competitive and is moderately fragmented that consists of significant individual players such as China COSCO Shipping, China Merchants Group, National Iranian Oil Company (NIOC), Bahri, Euronav, Angelicoussis Group, and Teekay Corporation.

Key Market Trends:
Very Large Crude Carrier to Dominate the Market

- VLCC have a size rang between 180,000 to 320,000 DWT, and are capable of passing through the Suez Canal in Egypt, for which these carrier are extensively used around the North Sea, Mediterranean and West Africa. Its dimensions is of 470 m in length, beam of up to 60 m, and a draught of up to 20 m.
- Among all the crude carriers demand, VLCC has the highest demand, followed by the demand for Suezmax. During 2018, demand for VLCC has increased around 5% and is expected to grow with decreasing spot rate of VLCC, and increasing demand for crude trade, due to depleting domestic production, especially in the Asia-Pacific region.
- During 2018, the highest demand arises between the Asia-Pacific and the Middle Eastern countries. The Middle East is one of the largest producers of crude oil, export its maximum volume to Asia-Pacific, making the Middle East Gulf (MEG)- Asia-Pacific as the highest demand for VLCC crude tankers.
- Regarding the crude fleet growth, VLCC has experienced the maximum growth, with a 4 % growth in 2018, in comparison to the preceding year.

Europe to Dominate the Market

- Europe has the maximum number of crude tankers, followed by Asia-Pacific. With around 55% of total crude oil tankers, Europe has the highest deadweight tons of tankers around the world.
- Greece is the prominent country among the Europe that holds the maximum numbers of the crude fleet company, with 167 crude carriers individually.
- It is expected that, with the growth of trade crude volume around the world, Europe is likely to expand its crude carriers by around 5%, during the forecast period. Moreover, Europe is more concentrated on having less pollutant crude carrier. It is estimated that Greece is building ten new liquefied natural gas (LNG) crude oil carriers, constructed by Hyundai Heavy Industries, that is expected to create a new milestone in the crude oil carrier market.

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Regions are covered By Crude Oil Carriers Market Report 2021 to 2025.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia and, Italy).
Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).

The Total Addressable Market (TAM) For estimating the market size two approaches are used: Bottom-up and Top-down approach. In the Bottom-up approach, the consumption of in the various segments is taken into account. The regional, segment-wise, and end-user uptake/consumption is taken into account for this approach. This is then totaled to arrive at the TAM for this approach. In the Top-down approach, the company-wise production in terms of both value and volume is taken into account and totaled for arriving at the TAM. This data is then bifurcated based on the consumption in the various market segments.

Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Crude Oil Carriers Market
-Changing the Crude Oil Carriers Market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Crude Oil Carriers Market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Crude Oil Carriers Market.
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.

Frequently Asked Questions about Crude Oil Carriers Market:
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The report has 150 tables and figures browse the report description and TOC
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