Market Forecast By Tanker Type (Oil Tankers, Liquid Gas Tankers) And Competitive Landscape
|Product Code: ETC432320||Publication Date: Nov 2022||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
The India Tanker Shipping Market is estimated to grow during the forecast period. The drivers of the tanker shipping market in India include increasing demand from the oil and gas sector, as well as an increase in the number of crude oil tankers operated by state-owned companies. The growth of the petroleum and petrochemical industry is also a major factor contributing to the growth of the tanker shipping market in India. There are various companies operating in the market that are doing best to boost the market growth. The market has been growing at a rapid pace.
According to 6Wresearch, the India Tanker Shipping Market size is expected to grow during 2022-2028. The rapid urbanization and industrial expansion in India are expected to drive the growth of the tanker shipping market in the country. Rising demand for petroleum products, especially LPG, coal, and gas is anticipated to spur investments in new refineries and petrochemicals plants, which would result in increased demand for tanker transportation services. Moreover, increasing investment in infrastructure such as airports and ports is also expected to boost demand for maritime transportation services. There will be a significant increase in the India Tanker Shipping Market share.
The pandemic posed a high impact on the Tanker Shipping Market in India which is a key part of the Asia Pacific Tanker Shipping Market . Disruption in manufacturing and transportation industry and strict government norms at the time of the pandemic were the major factors declined the growth of the market. Lockdown in the pandemic was the major reason that led to other factors pose the market growth. Imposing lockdown was important since it was the only way to control the spread of the deadly coronavirus in the country. After negatively affected by the pandemic, the market is growing again.
On the basis of tanker type, the market can be segmented into Oil Tankers, and Liquid Gas Tankers. Both these segments have been growing well in the market. These segments are expected to hold the largest share in the India Tanker Shipping Industry.
The next five years are critical for the India Tanker Shipping Market, with major global players looking to establish their business in the country. Some of the major players operating in the India Tanker Shipping Market include:
Shipowners and operators in the India Tanker Shipping Market are facing several challenges, including a lack of awareness of the market potential and limited infrastructure. However, there are several factors that can help operators achieve success in this market.
The report offers a comprehensive study of the subsequent market segments:
1. What are the growth factors of the market?
The drivers of the tanker shipping market in India include increasing demand from the oil and gas sector, as well as an increase in the number of crude oil tankers operated by state-owned companies.
2. Who are the major players in the market?
Some of the major players operating in the India Tanker Shipping Market include Larsen & Toubro Limited (L&T), Steel Authority of India Limited (SAIL), Pipavav Shipyard Limited (Pipav), Garden Reach Shipbuilders and Engineers Ltd.(GRSE), STX France, Hyundai Heavy Industries Co., Ltd., Keppel Corporation Berhad, Navantia SA de CV, , Goa Shipyard Ltd., Adani Enterprises Ltd., ABB Group Ltd., National Offshore Construction Corporation Limited (NOCL) and China State Shipbuilding Corp.
3. Is the India Tanker Market growing currently?
Yes, the market is growing currently since various players are entering in the market.
4. What were the impacts of the pandemic on the market?
Disruption in manufacturing and transportation industry and strict government norms at the time of the pandemic were the major factors declined the growth of the market.