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Transportation of fluids, such as gases and liquids, is very important for the global economy. Tankers are ships utilized to transport fluids from one destination to another via the sea route. The fluids transported include oil, chemical, LPG, and CNG. These carriers are significantly large in size so that fluids in bulk could be transported easily. Tanker shipping is a convenient and economical way to transport fluid in bulk across the globe.

Advancements in technology, tanker modification, and globalization are major factors that are driving the global tanker shipping market, which in turn are fueling the demand for shipping tankers. The global tanker shipping market is projected to expand at a significant pace during the forecast period owing to the increase in demand for fluids, such as chemicals, gases, and oil, across the globe. Increase in demand for crude oil is also a major factor that is projected to drive the tanker shipping market during the forecast period. Major restraints of the tanker shipping market include irregular distribution channels, government norms, oil prices, and increase in prices of customized tankers, which fuel the operating cost of transportation.

The Tanker Shipping Market can be segmented based on tanker type (size), fluid, shipment route, and region. These tanker types (size) are bifurcated on the basis of tonnage and capacity. In terms of tanker type (size), the tanker shipping market can be classified into Ultra Large Crude Carrier (ULCC), Very Large Crude Carrier (VLCC), Suezmax, Large Range 2 (LR2), Large Range 1 (LR1), Medium Range 2 (MR2), Medium Range 1 (MR1), Intermediate tanker, and small tanker. VLCCs are utilized to transport around two million barrels of crude oil at a time, twice the capacity of Suezmax tankers. Based on fluid, the global tanker shipping market can be split into vegetable oil, fuel, crude oil, LPG, LNG, CNG, wines, molasses, and fresh water. Increase in demand for crude oil and globalization are key reasons boosting the demand for tanker shipping. In terms of shipment route, the tanker shipping market can be segregated into inland, coastal, and deep sea.

Based on region, the tanker shipping market can be segmented into Europe, North America, Middle East & Africa, Asia Pacific, and Latin America. Asia Pacific is expected to lead the global tanker shipping market due to high population, disposable income, and raised demand for crude oil and chemicals in the region. China accounts for a major share of the market in Asia Pacific as the country is a major exporter across the globe and has a notable shipbuilding industry. The market in Middle East & Africa is expected to expand in the near future, as the region is a major producer and exporter crude oil across the globe.

Key players in the tanker shipping market are IINO KAIUN KAISHA, Nordic Tankers, Odfjell, Tokyo Marine, Stolt-Nielsen, Navig8 Chemicals, and MISC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Tanker Shipping Market

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