Report Update Nov 1, 2024

Saudi Arabia - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Tanker Market 2024

Tanker Market Size in Saudi Arabia

The Saudi tanker market soared to $X in 2021, growing by 98% against the previous year. Overall, consumption enjoyed significant growth. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Tanker Production in Saudi Arabia

In value terms, tanker production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 150%. As a result, production reached the peak level of $X, and then declined significantly in the following year.

Tanker Exports

Exports from Saudi Arabia

After three years of growth, overseas shipments of tankers decreased by -42.9% to X units in 2021. Overall, exports, however, saw a moderate expansion. The growth pace was the most rapid in 2020 when exports increased by 600%. As a result, the exports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, tanker exports expanded markedly to $X in 2021. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 551%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

India (X units) was the main destination for tanker exports from Saudi Arabia, accounting for a approx. 100% share of total exports.

From 2014 to 2021, the average annual growth rate of volume to India stood at +10.4%.

In value terms, India ($X) emerged as the key foreign market for tankers exports from Saudi Arabia.

From 2014 to 2021, the average annual growth rate of value to India amounted to +39.6%.

Export Prices by Country

The average tanker export price stood at $X per unit in 2021, growing by 98% against the previous year. Overall, the export price showed significant growth. The pace of growth appeared the most rapid in 2019 an increase of 729%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2014 to 2021, the rate of growth in terms of prices for Qatar amounted to +80,563.8% per year.

Tanker Imports

Imports into Saudi Arabia

In 2017, supplies from abroad of tankers decreased by 0% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 50%. Over the period under review, imports hit record highs in 2017 and are expected to retain growth in years to come.

In value terms, tanker imports stood at $X in 2017. Overall, imports saw a precipitous decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 22% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2017, the growth of imports remained at a lower figure.

Imports by Country

Singapore (X units) and Turkey (X units) were the main suppliers of tanker imports to Saudi Arabia. Moreover, tanker imports in Singapore exceeded the figures recorded by the second-largest supplier, Turkey, twofold.

From 2013 to 2017, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +18.9%).

In value terms, the largest tanker suppliers to Saudi Arabia were Turkey ($X) and Singapore ($X).

In terms of the main suppliers, Turkey, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

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 accounting for 54% of global consumption. Poland, Brazil, Belgium and France lagged somewhat behind, together comprising 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, with a combined 90% share of global production.

What are the leading suppliers of tankers to Saudi Arabia?

In value terms, Turkey and Singapore appeared to be the largest tanker suppliers to Saudi Arabia.

What are the leading importers of tankers from Saudi Arabia?

In value terms, India remains the key foreign market for tanker exports from Saudi Arabia, comprising 98% of total exports. The second position in the ranking was occupied by the United Arab Emirates, with a 2.2% share of total exports.

What is the average export price for tankers in Saudi Arabia?

In 2021, the average tanker export price amounted to $229,325 per unit, shrinking by -72.8% against the previous year.

What is the average import price for tankers in Saudi Arabia?

In 2017, the average tanker import price amounted to $2,168,673 per unit, waning by -33.7% against the previous year.

This report provides an in-depth analysis of the tanker market in Saudi Arabia. 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:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
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