Technological advancements and exploration of new oil and gas reserves are driving the growth in Global Shuttle Tanker Market in the forecast period, 2022-2026.
According to TechSci Research report, “Shuttle Tanker Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Loading Facility (Floating Storage and Offloading Vessels, Single Point Mooring, Tandem Loading System, Submerged Turret Loading, Single Anchor Loading), By Application (Stability, Extraction, Vessel Manoeuvring), By Fuel (Crude Oil, Refined Products, Liquified Natural Gas), and By Region”, the Global Shuttle Tanker Market is anticipated to grow at significant CAGR for the forecast period, 2022-2026. Shuttle tankers are used in offshore areas where construction of subsea pipelines is not possible. They transport crude oil and are used in areas having large water depths and facing harsh weather conditions. Shuttle tankers are equipped with dynamic positioning systems to accelerate the regularity during the loading operations and to prevent the occurrence of collisions while transferring the oil. Presence of advanced ancillary systems in the Shuttle Tankers to ensure smooth extraction and transportation process and prevent occurrence of unwanted stoppages. The most important feature of Shuttle Tanker is dynamic positioning systems which allows the maneuvering of the vessel to be controlled electrically.
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The Global Shuttle Tanker Market is segmented on the basis of loading facility, application, fuel, regional distribution, and company.
On the basis of loading facility, the Global Shuttle Tanker Market is divided into floating storage and offloading vessels, single point mooring, tandem loading system, submerged turret loading, and single anchor loading. Floating storage and offloading vessels are used by the offshore oil and gas industry to store, process, and produce hydrocarbons. These are mostly used in deep or remote water locations where seabed pipelines are not recommended. Small oil industries extensively prefer to use them to eliminate the need to lay costly long-distance pipelines from the processing facility to an onshore terminal. Single point mooring is a loading buoy anchored offshore used in loading or offloading liquid or gas products as a mooring point and interconnect for tankers. Tandem loading systems are used to transport oil and oil byproducts from the extracting facilities to the Shuttle Tankers. These can be used for storage, deployment, full load quick release facility, amongst others. Submerged turret loading is the technology used in offshore applications, and it offers safe, affordable, and flexible solutions for floating storage and offloading (FSO) units and oil loading tankers (OLT). Single anchor loading integrates the mooring turret, pipeline end manifold, and in-line swivel. It is preferred as the setup can be done in less time and eliminates the risk of collision between traditional CALM buoy and tanker.
On the basis of fuel, the Global Shuttle Tanker Market is divided into crude oil, refined products, and liquified natural gas. The liquified natural gas is expected to witness significant growth opportunities in the next five years. High demand for liquified natural gas due to its cost-effective nature and lower emissions produced during the combustion and production process contributes to increased market demand. Major market players focus on decarbonization, supply chain optimization, downstream market development, and advanced analytics, which is expected to create a vast potential for market growth in the next five years. Liquified natural gas is easy for transportation and distribution, and they are not flammable, not explosive as liquid power sources. The rise in energy production and the advancements in oil drilling technology are expected to boost the demand for liquified natural gas worldwide.
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“The use of hybrid power to boost the operational efficiency of Shuttle Tankers is expected to create lucrative opportunities for market growth. Growing consumer awareness and the lower carbon emissions due to the use of hybrid power and other benefits such as lowering engine time and economic feasibility, among others. The use of advanced and efficient oil extraction and transportation techniques to fulfill the surging energy requirements worldwide and lower the adverse impact on environmental conditions are expected to propel the Global Shuttle Tanker market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Shuttle Tanker Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026
Segmented By Loading Facility (Floating Storage and Offloading Vessels, Single Point Mooring, Tandem Loading System, Submerged Turret Loading, Single Anchor Loading), By Application (Stability, Extraction, Vessel Manoeuvring), By Fuel (Crude Oil, Refined Products, Liquified Natural Gas), and By Region”, has evaluated the future growth potential of global Shuttle Tanker and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Shuttle Tanker Market.
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