Marine Oil and Gas Tanker Market to Grow with a CAGR of 3.7% through 2030
The growing demand for energy transportation across
international waters, the implementation of stringent emission reduction
targets, and the modernization of fleets with alternative fuel propulsion
systems are the factors driving the market in the forecast period 2026–2030.
According to TechSci Research report, “Marine Oil
and Gas Tanker Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2020-2030F”, The Global Marine Oil and Gas Tanker
Market was valued at USD 172.3 billion in 2024 and is expected to reach USD
219.7 billion by 2030 with a CAGR of 3.7% during the forecast period.
The marine oil and gas tanker industry is undergoing a
transformation fueled by the increasing global need for efficient energy
transport and tightening environmental rules. A surge in global energy usage
has heightened the importance of marine tankers for moving crude oil, liquefied
gas, and refined products across continents. The demand for high-capacity
vessels that can navigate long routes is expanding, especially where land-based
transport options remain underdeveloped.
Environmental regulations are reshaping how the industry
operates, leading to a pivot toward vessels powered by cleaner fuels such as
liquefied natural gas, methanol, and hybrid systems. These alternatives enable
compliance with emission standards and align with the broader push toward
maritime decarbonization. The integration of digital tools for performance
monitoring and route planning is also opening new avenues for operational
efficiency and cost control.
Yet, the sector contends with hurdles including volatile
fuel costs, substantial investment requirements for new vessels, and
complexities in updating existing fleets. For many smaller companies, keeping
up with environmental and technological changes is financially challenging.
External factors such as regional conflicts and limited fueling options for
alternative energies contribute to market uncertainty, complicating growth
prospects.
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and an in-depth TOC on "Marine Oil and Gas Tanker Market"
Marine Oil and Gas Tanker Market Is Segmented By Tanker,
Size, Propulsion, Application and Region.
The marine oil and gas tanker market serves various
applications, with tankers playing a crucial role in the global movement of
energy resources. In crude oil transportation, tankers are tasked with hauling
large volumes of unrefined petroleum from extraction sites to refineries
located across vast ocean routes. These operations are central to maintaining
the flow of raw energy to fuel processing and industrial needs. Refined
petroleum product transportation involves vessels carrying gasoline, diesel, jet
fuel, and other finished fuels from refineries to global distribution terminals
and end-user regions, ensuring a consistent supply chain for multiple sectors.
The natural gas transportation segment focuses on liquefied
natural gas (LNG) shipped through specialized tankers designed to maintain
cryogenic conditions. These vessels require sophisticated containment systems
and offer a strategic link between gas producers and consumer markets,
especially where pipelines are unavailable. Chemical transportation involves
tankers engineered to handle various hazardous or sensitive chemical compounds,
including liquefied petroleum gas (LPG) and petrochemicals. These tankers are
built with unique safety systems and coating technologies to ensure secure,
compliant delivery of volatile substances. Each application within the market reflects the diverse
energy logistics needs of the global economy. Vessel designs, storage
requirements, and regulatory standards vary across these segments, influencing
both investment and innovation in marine transportation.
In 2024, Asia-Pacific emerged as the fastest growing region
in the marine oil and gas tanker market. The surge in industrial activity and
expanding energy demand across major economies in the region have driven
increased investment in maritime energy logistics. Port infrastructure
development and long-term energy import contracts have further encouraged
growth in marine tanker deployment. Energy-intensive sectors and ongoing
offshore exploration efforts contribute to heightened tanker traffic. Demand for
crude oil, LNG, and refined product shipments is rising, prompting procurement
of modern vessels with enhanced fuel efficiency. Regulatory support for
alternative fuel adoption is also influencing the technological evolution of
tanker fleets operating in this region.
Major Market Players Operating in Global Marine Oil and
Gas Tanker Market Are:
- Mitsui
O.S.K. Lines, Ltd. (MOL)
- Euronav
NV
- Teekay
Corporation
- Frontline
Ltd.
- NYK
Line (Nippon Yusen Kaisha)
- Chevron
Shipping Company LLC
- Scorpio
Tankers Inc.
- BW
Group
- China
COSCO Shipping Corp.
- Tsakos
Energy Navigation (TEN)
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The global marine oil and gas tanker market plays a vital
role in the international transportation of energy resources such as crude oil,
refined petroleum products, natural gas, and chemicals. Driven by growing
global energy demand and limited alternatives to seaborne logistics, the market
continues to expand, with shipowners investing in larger, more efficient
vessels. Increasing environmental regulations are reshaping fleet strategies,
encouraging the adoption of alternative propulsion technologies such as LNG,
methanol, and hybrid-electric systems to meet decarbonization goals and improve
operational efficiency. The market is segmented by propulsion type into
diesel-powered, LNG-powered, and hybrid/electric vessels, and by application
into crude oil, refined products, natural gas, and chemical transportation.
These segments cater to diverse logistical needs, with vessel designs varying
based on cargo type and safety standards. Technological advancements in digital
navigation, fuel management, and emissions monitoring are also supporting
improved efficiency and compliance", according to Mr. Karan Chechi, Research
Director of TechSci Research, a global research-based management consulting
firm, these trends are expected to contribute significantly to the market's
expansion.
“Marine Oil and Gas Tanker Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Tanker
(Crude Oil Tankers, Product Tankers, Liquefied Natural Gas (LNG) Tankers,
Liquefied Petroleum Gas (LPG) Tankers, Chemical Tankers), By Size (Small
Tankers (up to 10,000 DWT), Medium Tankers (10,000–60,000 DWT), Large Tankers
(60,000–200,000 DWT), Very Large Crude Carriers (VLCC), Ultra Large Crude
Carriers (ULCC)), By Propulsion (Diesel-powered, LNG-powered, Hybrid/Electric), By Application (Crude Oil Transportation, Refined Petroleum Product Transportation, Natural Gas Transportation, Chemical Transportation), By Region & Competition,
2020-2030F”, assesses the market's future growth potential and provides data on
market size, trends, and forecasts. It aims to offer comprehensive market
insights, helping decision-makers make informed investment choices. The report
also highlights emerging trends, key drivers, challenges, and opportunities in
the Global Marine Oil and Gas Tanker Market.
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