Report Update Nov 1, 2024

India - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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India: Tanker Market 2024

Tanker Market Size in India

In 2021, the Indian tanker market increased by 286% to $X, rising for the third consecutive year after two years of decline. Overall, consumption recorded a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tanker Production in India

In value terms, tanker production reduced markedly to $X in 2021 estimated in export price. In general, production, however, saw significant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 188% against the previous year. As a result, production reached the peak level of $X, and then shrank dramatically in the following year.

Tanker Exports

Exports from India

After five years of growth, overseas shipments of tankers decreased by -67.9% to X units in 2021. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 267% against the previous year. The exports peaked at X units in 2020, and then declined significantly in the following year.

In value terms, tanker exports plummeted to $X in 2021. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2016 when exports increased by 3,697,284%. The exports peaked at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

Singapore (X units), the United Arab Emirates (X units) and Sri Lanka (X units) were the main destinations of tanker exports from India, together accounting for 89% of total exports. Moreover, tanker exports in Singapore exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +58.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for tankers exports from India, comprising 35% of total exports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total exports. It was followed by Sri Lanka, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+21.0% per year) and Sri Lanka (+33.0% per year).

Export Prices by Country

The average tanker export price stood at $X per unit in 2021, increasing by 26% against the previous year. Overall, the export price, however, saw a pronounced reduction. The growth pace was the most rapid in 2018 an increase of 54% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+4.4%), while the prices for the other major destinations experienced a decline.

Tanker Imports

Imports into India

In 2021, the amount of tankers imported into India skyrocketed to X units, picking up by 171% compared with the previous year's figure. Over the period under review, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tanker imports surged to $X in 2021. Overall, imports saw a significant increase. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X units), South Korea (X units) and China (X units) were the main suppliers of tanker imports to India, together comprising 95% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +34.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of tankers to India, comprising 12% of total imports. The second position in the ranking was taken by China ($X), with a 1.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+61.6% per year) and Turkey (+14.2% per year).

Import Prices by Country

The average tanker import price stood at $X per unit in 2021, declining by -4.4% against the previous year. In general, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 9.6% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+21.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tankers in the world?

The countries with the highest volumes of in 2021 were China, Germany and Indonesia, together comprising 54% of global consumption. Poland, Brazil, Belgium and France lagged somewhat behind, together accounting for a further 34%.

What are the largest producers of tankers in the world?

The countries with the highest volumes of in 2021 were China, Germany and South Korea, together accounting for 90% of global production.

What are the leading suppliers of tankers to India?

In value terms, Panama, Saudi Arabia and South Korea were the largest tanker suppliers to India, with a combined 55% share of total imports. These countries were followed by the United Arab Emirates, Oman, Sri Lanka, Bangladesh, Iraq, Singapore, Cyprus, China, Turkey and Italy, which together accounted for a further 30%.

What are the leading importers of tankers from India?

In value terms, Singapore emerged as the key foreign market for tanker exports from India, comprising 35% of total exports. The second position in the ranking was occupied by Indonesia, with a 15% share of total exports. It was followed by Qatar, with a 13% share.

What is the average export price for tankers in India?

In 2021, the average tanker export price amounted to $2,861,653 per unit, growing by 14% against the previous year.

What is the average import price for tankers in India?

The average tanker import price stood at $353,740 per unit in 2021, increasing by 199% against the previous year.

This report provides an in-depth analysis of the tanker market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 30112210 - Crude oil tankers
Prodcom 30112230 - Oil product tankers
Prodcom 30112250 - Chemical tankers
Prodcom 30112270 - Gas carriers

Country coverage:

India

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in India
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023