In 2023, South Korea led the global tanker export market with a value of $11.616 billion USD, followed by China at $6.8895 billion USD and Japan at $6.4139 billion USD. These top three countries dominate the industry, showing steady growth; China had the highest year-on-year increase of 3.91%. Notably, Romania's exports surged by 23.31%, while Kazakhstan experienced exponential growth, albeit from a smaller base, at 193.46%. Conversely, several countries like Poland, Sweden, and Chile witnessed declines. Over the past five years, the CAGR indicates moderate growth trends overall, with notable expansions in certain smaller markets.
Future trends to watch for include:
- Technological advancements in tanker construction, enhancing efficiency and environmental compliance.
- Geopolitical influences impacting export volumes and restricted trades.
- Emergence of alternative transportation methods influencing market dynamics.
- Increased focus on green shipping solutions spurring demand for new, sustainable tankers.
Top countries in Export of Tankers by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 11,616,000,000 | 2023 | -0.34% | +1.34% | View data |
| 2 | 2 China | 6,889,500,000 | 2023 | +2.8% | +3.91% | View data |
| 3 | 3 Japan | 6,413,900,000 | 2023 | +2.6% | +1.91% | View data |
| 4 | 4 Belgium | 1,233,500,000 | 2023 | +6.48% | +0.58% | View data |
| 5 | 5 Poland | 426,580,000 | 2023 | -5.35% | -9.1% | View data |
| 6 | 6 Germany | 343,830,000 | 2023 | +1.93% | +1.31% | View data |
| 7 | 7 Philippines | 286,000,000 | 2023 | +3.85% | +5.05% | View data |
| 8 | 8 Romania | 201,180,000 | 2023 | +2.74% | +23.31% | View data |
| 9 | 9 Denmark | 160,840,000 | 2023 | -1.52% | +2.98% | View data |
| 10 | 10 India | 118,440,000 | 2023 | +6.21% | +1.78% | View data |
