Report Update Mar 1, 2025

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

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Scandinavia: Tanker Market 2025

Tanker Market Size in Scandinavia

After two years of growth, the Scandinavia tanker market decreased by -78.7% to $X in 2021. Overall, consumption recorded a abrupt curtailment. The level of consumption peaked at $X in 2020, and then dropped dramatically in the following year.

Tanker Production in Scandinavia

In value terms, tanker production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 588%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Tanker Exports

Exports in Scandinavia

In 2021, the amount of tankers exported in Scandinavia skyrocketed to X units, picking up by 171% on the previous year. Overall, exports posted a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 254% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, tanker exports surged to $X in 2021. In general, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 504%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units) represented roughly 100% of total exports in 2021.

Norway was also the fastest-growing in terms of the tankers exports, with a CAGR of +6.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) also remains the largest tanker supplier in Scandinavia.

From 2012 to 2021, the average annual rate of growth in terms of value in Norway stood at +15.4%.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, with an increase of 34% against the previous year. Overall, the export price recorded strong growth. The most prominent rate of growth was recorded in 2019 an increase of 504% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Norway amounted to +8.6% per year.

Tanker Imports

Imports in Scandinavia

After three years of growth, purchases abroad of tankers decreased by -42.9% to X units in 2021. In general, imports saw a perceptible setback. The pace of growth was the most pronounced in 2016 with an increase of 208%. The volume of import peaked at X units in 2020, and then dropped notably in the following year.

In value terms, tanker imports shrank markedly to $X in 2021. Over the period under review, imports showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 218% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Norway (X units) represented the key importer of tankers, mixing up 75% of total imports. It was distantly followed by Finland (X units), generating a 22% share of total imports. Sweden (X units) followed a long way behind the leaders.

Imports into Norway decreased at an average annual rate of -6.7% from 2012 to 2021. Sweden and Finland experienced a relatively flat trend pattern. Finland (+22 p.p.) and Sweden (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Norway saw its share reduced by -25% from 2012 to 2021, respectively.

In value terms, Norway ($X) constitutes the largest market for imported tankers in Scandinavia, comprising 78% of total imports. The second position in the ranking was held by Finland ($X), with a 15% share of total imports.

In Norway, tanker imports shrank by an average annual rate of -5.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (0.0% per year) and Sweden (+6.7% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, increasing by 24% against the previous year. In general, the import price showed slight growth. The most prominent rate of growth was recorded in 2014 when the import price increased by 92% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+6.7%).

Source: IndexBox Platform

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

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Scandinavia, split by region and country
Trade (exports and imports) in Scandinavia
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2024
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Finland
- Norway
- Sweden
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption, By Country, 2018–2024
5. Production, In Physical Terms, By Country, 2012–2024
6. Imports, In Physical Terms, By Country, 2012–2024
7. Imports, In Value Terms, By Country, 2012–2024
8. Import Prices, By Country Of Destination, 2012–2024
9. Exports, In Physical Terms, By Country, 2012–2024
10. Exports, In Value Terms, By Country, 2012–2024
11. Export Prices, By Country Of Origin, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Consumption, By Country, 2024
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2024
18. Production, In Value Terms, 2012–2024
19. Production, By Country, 2024
20. Production, In Physical Terms, By Country, 2012–2024
21. Imports, In Physical Terms, 2012–2024
22. Imports, In Value Terms, 2012–2024
23. Imports, In Physical Terms, By Country, 2024
24. Imports, In Physical Terms, By Country, 2012–2024
25. Imports, In Value Terms, By Country, 2012–2024
26. Import Prices, By Country, 2012–2024
27. Exports, In Physical Terms, 2012–2024
28. Exports, In Value Terms, 2012–2024
29. Exports, In Physical Terms, By Country, 2024
30. Exports, In Physical Terms, By Country, 2012–2024
31. Exports, In Value Terms, By Country, 2012–2024
32. Export Prices, 2012–2024