Report Update Apr 1, 2024

Northern America - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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Northern America: Tanker Market 2024

Tanker Market Size in Northern America

The North American tanker market soared to $X in 2022, picking up by X% against the previous year. Overall, consumption continues to indicate a moderate expansion. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Tanker Production in Northern America

In value terms, tanker production stood at $X in 2022 estimated in export price. Overall, production showed a precipitous setback. The growth pace was the most rapid in 2015 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

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Tanker Exports

Exports in Northern America

In 2021, overseas shipments of tankers decreased by X% to less than X units, falling for the second year in a row after three years of decline. Overall, exports showed a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, tanker exports stood at $X in 2021. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2019, Bermuda (X units) was the major exporter of tankers in Northern America, generating X% of total export.

Bermuda was also the fastest-growing in terms of the tankers exports, with a CAGR of X% from 2012 to 2019. While the share of Bermuda (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2019, the average annual growth rate of value in Bermuda amounted to X%.

Export Prices by Country

In 2019, the export price in Northern America amounted to $X,675 per unit, flattening at the previous year. Overall, the export price saw a significant expansion. The growth pace was the most rapid in 2015 when the export price increased by X%. As a result, the export price reached the peak level of $X,376 per unit. From 2016 to 2019, the export prices remained at a somewhat lower figure.

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

From 2012 to 2019, the rate of growth in terms of prices for Bermuda amounted to X% per year.

Tanker Imports

Imports in Northern America

In 2022, after two years of decline, there was significant growth in supplies from abroad of tankers, when their volume increased by X% to X units. In general, imports enjoyed a notable expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, tanker imports skyrocketed to $X in 2022. Overall, imports showed a perceptible increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Bermuda represented the main importer of tankers in Northern America, with the volume of imports finishing at X units, which was approx. X% of total imports in 2022. It was distantly followed by Canada (X units), generating a X% share of total imports. The United States (X units) followed a long way behind the leaders.

Bermuda was also the fastest-growing in terms of the tankers imports, with a CAGR of X% from 2012 to 2022. Canada (X%) and the United States (X%) illustrated a downward trend over the same period. Bermuda (X p.p.) and the United States (X p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Bermuda ($X) constitutes the largest market for imported tankers in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

In Bermuda, tanker imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the import price in Northern America amounted to $X,804 per unit, declining by X% against the previous year. In general, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices attained the peak figure at $X,537 per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X,131 per unit), while the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tankers in Northern America?

Bermuda constituted the country with the largest volume of tanker consumption, accounting for 68% of total volume. Moreover, tanker consumption in Bermuda exceeded the figures recorded by the second-largest consumer, Canada, threefold.

What are the largest producers of tankers in Northern America?

The countries with the highest volumes of production in 2022 were the United States, Canada and Bermuda. Moreover, tanker production in the United States exceeded the figures recorded by the region's second-largest producer, Canada, twofold.

What are the leading importers of tankers in Northern America?

In value terms, Bermuda constitutes the largest market for imported tankers in Northern America, comprising 71% of total imports. The second position in the ranking was held by Canada, with a 29% share of total imports.

What is the average export price for tankers in Northern America?

In 2019, the export price in Northern America amounted to $51,713,675 per unit, stabilizing at the previous year.

What is the average import price for tankers in Northern America?

The import price in Northern America stood at $15,975,804 per unit in 2022, dropping by -4.4% against the previous year.

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

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
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, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023