Oil & Gas Equipment & Services · Indirect
Monitoring · monthlyProcurement Category Intelligence
Crude Oil Tankers - VLCC
Overview
Market size
$12.5B
global, USD
CAGR
4.2%
base to forecast
Buyer power
-2.4
supplier-favoured
Suppliers
5
tracked players
Signals
12
4 high severity
Market outlook
2031$15.4B
What changed
Demand by region
Asia Pacific demand55%
Europe demand20%
North America demand12%
Middle East & Africa demand8%
Rest of world demand5%
share of global demandtotal 100%
Cost drivers
Heavy steel plate and raw TMCP steel inputs45%
Shipyard construction labor and engineering25%
Marine propulsion, machinery, and electronic systems15%
Regulatory compliance, FuelEU maritime, and emissions design10%
Financing, overhead, and delivery logistics5%
share of delivered cost (analyst estimate)