Global Crude Oil Carrier Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global crude oil carrier market in its upcoming report titled, “Global Crude Oil Carrier Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global crude oil carrier market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global crude oil carrier market report has been segmented on the basis of vessel type and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Crude oil can be transported from manufacture locations to refineries using crude oil carriers. Other modes of transfer are also available such ad pipelines, rail tank cars, tank trucks, and barges. Crude oil carriers transport crude oil in volume from one spot to other.

Increasing demand for crude oil and its by-products and growing industrialization across the globe are major factors expected to drive growth of the global market over the forecast period. In addition, increasing demand for bulk oil transportation services, especially from extraction locations to refineries is another factor expected to further fuels growth of the target market. Furthermore, rising demand for healthy carriers, owing to low prices and better refinery output are the other factors expected boost growth of this market in the near future.

However, high logistics costs and decreasing oil imports from regions are key factors expected to restrain growth of the global market over the forecast period. In addition, high capital cost need to acquire new or second hand carrier ships is another factor expected to hamper growth of the target market in the near future.

Ongoing trend observed in the target market is lower oil prices and high supply from OPEC countries are expected to fuels growth of the target market over the forecast period.

Technological advancements to develop longer hauls and fewer triangulation options are expected to create potential revenue opportunities for players operating in the target market over the forecast period.

The market in North America is expected to register significant share in terms of revenue over the forecast period, owing to increasing production of crude oil, especially in the US.

Global crude oil carrier market segmentation:

Segmentation by Vessel Type:

• VLCC/ULCC
• Suezmax
• Aframax
• Panamax

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa