Crude Oil Carrier Market to Witness Huge Growth 2028

Crude Oil Carrier Market share is expected to grow to USD 14.5 billion with a significant rate of 4.2% CAGR during the forecast period 2021-2028.

Crude carriers (also known as 'oil tankers') are ships designed for the bulk transport of unrefined petroleum from its point of extraction to refineries or markets in the oil industry. The size and capacity of crude carrier vessels vary depending on the region in which they operate. Shipping companies have developed fuel-efficient designs that maximise cargo capacities in order to meet market demands.

The report provides a basic overview of the industry including definitions, classifications, and industry chain structure. The Crude Oil Carrier market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand, price, revenue and gross margins.

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Crude oil carriers are the vehicles used to transport crude oil extracted from reserves and wells to refineries for further processing. Pipelines, rail tank cars, trucks, and other methods are used to transport crude oil. Among these oil transport methods, oil tankers are the most commonly used to transport large amounts of crude oil from one location to another.

Crude oil carriers are employed in both upstream and midstream operations. It is used in upstream operations to transport crude oil from the exploration or drilling site to the processing section. It transports crude oil for refining after it has been processed (filtered, desalted, and impurities removed). They are either made up or fabricated.

Ultra Large Crude Carriers (ULCC) vessels are designed for the transportation of crude oil. These tankers have a deadweight tonnage and carrying capacity of more than 200,000 tonnes. The installation of double hulls on these carriers is mandatory by law in some countries such as India to ensure safety during their operations. Suezmax tankers are the largest crude carrier size, capable of carrying approximately two million barrels or more. However, it has limited capacity so that only ships from 200-300000 tons can use this route.

Global Crude Oil Carrier Market: Segmentations

Global Crude Oil Carrier Market: By Key Players
Maersk Tankers
China Shipping Tanker
Essar Shipping
Kuwait Oil Tankers
OSG Ship Management
Keystone Alaska
Shipping Corporation of India

Global Crude Oil Carrier Market: By Types
Ultra Large Crude Carriers
Very Large Crude Carriers
Suezmax Tankers
Aframax Tankers
Panamax Tankers
Small Tankers
Medium Tankers

Global Crude Oil Carrier Market: By Applications
Transportation

Global Crude Oil Carrier Market: Regional Analysis
The countries covered in the regional analysis of the Global Crude Oil Carrier market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Reasons to Purchase the Crude Oil Carrier Market Report:

1. The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
2. Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
3. Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
4. The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
5. Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.

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