The rising demand for the transport of crude oil is one of the key driving factors of market growth. Additionally, the growing demand for bulk transportation, globalization, rapid industrialization, low cost of bulk fuels, and low global oil prices are the few key factors driving the crude oil carrier market growth. Furthermore, the increasing demand for bulk oil transportation facilities is fueling market growth. Also, the rising automotive and aviation industry demand will foster market demand. Moreover, the increasing global population and subsequent demand for crude oil and its by-products are anticipated to bolster market growth. The current low global oil prices and high supply from OPEC countries are predicted to boost market growth in the forecast period.
MARKET SCOPE
The "Global Crude Oil Carrier Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on global market trend analysis. The report aims to provide an overview of the crude oil carrier market with detailed market segmentation by type, application, and geography. The global crude oil carrier market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading crude oil carrier market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global crude oil carrier market is segmented by type, and application.
- Based on type, the market is segmented into Deposit Control, Antioxidant Corrosion, Corrosion Inhibitors, Others.
- On the basis of application, the market is segmented into Diesel, Gasoline, Aviation Turbine Fuel, Others
MARKET DYNAMICS
Drivers-
- The rising global population and subsequent demand for crude oil and its by-products are anticipated to boost market growth.
Restrains
- High logistics costs and reduced oil imports from regions tapping into renewable resources like solar power limit market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
Due to the COVID-19 outbreak, most business sectors, like automotive, electronics & electrical, semiconductors, food & beverages, aircraft, etc., are greatly impacted. With the rising corona cases and rapid increase in the virus spread, most countries' governments have imposed stringent regulations like lockdowns, transportation bans, limited visits to the outer, closure of manufacturing units, etc. Due to the shutdown, the manufacturing industries face many issues like supply chain disruptions, lack of raw materials, and shortage of workers, which results in the stoppage of automotive manufacturing industry production. It reduces the demand for automotive products. Moreover, due to the transportation ban, transferring crude oil from one place to another is restricted, which greatly impacts the crude oil carrier market to a large extent. Further, after the post-lockdown, the corona cases are rapidly reduced, and restrictions are removed. It restarts the crude oil carriers normally and is expected to rise at a significant demand in the forecast period.
MARKET PLAYERS
The reports cover key developments in the crude oil carrier market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the crude oil carrier market are anticipated to have lucrative growth opportunities in the future with the rising demand for crude oil carrier in the global market. Below mentioned is the list of few companies engaged in the crude oil carrier market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the crude oil carrier market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- Frontline
- Tsakos Energy Navigation Limited
- Ship Finance International Limited
- Maersk Tankers Kuwait oil Tanker Company S.A.K
- Teekay Corporation
- Shipping Corporation of India,
- Nordic American Tankers
- Taiyo Cabletec Corporation
- Essar
- Alaska Tanker Company.