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Bunker Fuel Market by Type, Commercial Distributor, and End User - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4612633
  • Report
  • Region: Global
  • 300 pages
  • Allied Analytics LLP
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The global bunker fuel market was valued at $97,203 million in 2016, and is expected to reach $142,489 million by 2023, registering a CAGR of 9.6% from 2016 to 2022. The term “oil fuel” describes any fuel manufactured from petroleum crude oil and can apply to gasoline and jet kerosene or, in the marine world, gas oil, diesel oil, or fuel oil. Fuel oil refers to residual fuel oil manufactured at the bottom end of an oil refining process. The two main oil fuel classifications in the marine industry are distillates and residual fuel oils. Marine distillates divide into two broad types, marine gas oil (MGO) and marine diesel oil (MDO), which are used in the main engines of small vessels and auxiliary engines of larger vessels. Distillates are widely used by fishing vessels with less space to deploy equipment for treating high viscosity fuels.

The International Maritime Organization’s regulations of sulfur cap of 0.50% m/m (mass/mass) in 2020 for marine fuels, and increase in ocean-borne trade, especially in ton-km travelled, are the factors that drive the growth of the global bunker fuel market. However, obsolete vessels has been replaced by more competent boats, which in turn is expected to drive the market. Moreover, implementation and monitoring of the sulfur cap by IMO is expected to be a key challenge for the market.

The global bunker fuel market is segmented based on type, commercial distributor, end user, and geography. The type segment is classified into residual fuel oil, MDO, and MGO. On the basis of commercial distributors, the market is divided into oil majors, large independent, and small independent. By end user, it is categorized into container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, gas tanker, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In 2016, Asia-Pacific occupied the largest market share, followed by Europe. Asia-Pacific is expected to dominate the global bunker fuel market by 2023, witnessing substantial growth in emerging countries such as, China, India, and South Korea.

The prominent players in the global bunker fuel market have strategically focused on product development and agreements as their key strategy to gain significant market share.

The key players profiled in the report are as follows:

Aegean Marine Petroleum Network Inc.
Bomin Bunker Oil Corp.
BP PLC
Bunker Holding A/S
Chemoil Energy Ltd.
Exxon Mobil
Gazprom Neft PJSC
GAC Bunker Fuels Ltd.
KPI Bridge Oil A/S
Royal Dutch Shell PLC

KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current trends and emerging estimations and dynamics in the bunker fuel market.
In-depth analysis of bunker fuel market size is conducted, and estimations for key segments between 2015 and 2023 are provided.
Factors that drive and restrain the growth of the market are provided.
Bunker fuel market share for all segments with respect to each geography is detailed in the report.
Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the bunker fuel industry trends.

KEY MARKET SEGMENTS

By Type

Residual Fuel Oil
MDO
MGO

By Commercial Distributor

Oil Majors
Large Independent
Small Independent

By End User

Container
Bulk Carrier
Oil Tanker
General Cargo
Chemical Tanker
Fishing
Gas Tanker

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
UAE
Brazil
South Africa
Rest of LAMEA

*Other players in the value chain include

ChinaMarine Bunker Company Ltd.
Dan-Bunkering Inc.
Glander International Bunkering DMCC
Gulf Nederland
Lukoil-Bunker OOO
PetroChina Company Ltd.
Sentek Marine & Trading Pte, Ltd.
Shanghai Lonyer Fuels Co., Ltd.
World Fuel Services Corp.

*Profiles of these players are not included in the report, but can be included on request.
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CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model

CHAPTER 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. MARKET SHARE ANALYSIS, 2016 (%)
3.6. REGULATION ANALYSIS

CHAPTER 4. GLOBAL BUNKER FUEL MARKET, BY TYPE
4.1. INTRODUCTION
4.1.1. Market Size and Forecast
4.2. RESIDUAL FUEL OIL
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast
4.2.3. IFO 180
4.2.4. IFO 380
4.3. MDO
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast
4.4. MGO
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast

CHAPTER 5. GLOBAL BUNKER FUEL MARKET, BY COMMERCIAL DISTRIBUTOR
5.1. INTRODUCTION
5.1.1. Market Size and Forecast
5.2. OIL MAJORS
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast
5.3. LARGE INDEPENDENT
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast
5.4. SMALL INDEPENDENT
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast

CHAPTER 6. GLOBAL BUNKER FUEL MARKET, BY END USER
6.1. INTRODUCTION
6.1.1. Market Size and Forecast
6.2. CONTAINER
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast
6.3. BULK CARRIER
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast
6.4. OIL TANKER
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4. GENERAL CARGO
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4. CHEMICAL TANKER
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4. FISHING
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4. GAS TANKER
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4. OTHERS
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast

CHAPTER 7. GLOBAL BUNKER FUEL MARKET, BY GEOGRAPHY
7.1. INTRODUCTION
7.1.1. Market Size and Forecast
7.2. NORTH AMERICA
7.2.1. Key Market Trends, Growth Factors and Opportunities
7.2.2. Market Size and Forecast
7.2.3. U.S.
7.2.3.1. Market size and forecast, by type
7.2.3.2. Market size and forecast, by commercial ditributor
7.2.4. Canada
7.2.4.1. Market size and forecast, by type
7.2.4.2. Market size and forecast, by commercial ditributor
7.2.5. Mexico
7.2.5.1. Market size and forecast, by type
7.2.5.2. Market size and forecast, by commercial ditributor
7.3. EUROPE
7.3.1. Key Market Trends, Growth Factors and Opportunities
7.3.2. Market Size and Forecast
7.3.3. UK
7.3.3.1. Market size and forecast, by type
7.3.3.2. Market size and forecast, by commercial ditributor
7.3.4. Germany
7.3.4.1. Market size and forecast, by type
7.3.4.2. Market size and forecast, by commercial ditributor
7.3.5. France
7.3.5.1. Market size and forecast, by type
7.3.5.2. Market size and forecast, by commercial ditributor
7.3.6. Italy
7.3.6.1. Market size and forecast, by type
7.3.6.2. Market size and forecast, by commercial ditributor
7.3.7. Spain
7.3.7.1. Market size and forecast, by type
7.3.7.2. Market size and forecast, by commercial ditributor
7.3.8. Rest of Europe
7.3.8.1. Market size and forecast, by type
7.3.8.2. Market size and forecast, by commercial ditributor
7.4. ASIA-PACIFIC
7.4.1. Key Market Trends, Growth Factors and Opportunities
7.4.2. Market Size and Forecast
7.4.3. China
7.4.3.1. Market size and forecast, by type
7.4.3.2. Market size and forecast, by commercial ditributor
7.4.4. Japan
7.4.4.1. Market size and forecast, by type
7.4.4.2. Market size and forecast, by commercial ditributor
7.4.5. India
7.4.5.1. Market size and forecast, by type
7.4.5.2. Market size and forecast, by commercial ditributor
7.4.6. South Korea
7.4.6.1. Market size and forecast, by type
7.4.6.2. Market size and forecast, by commercial ditributor
7.4.7. Rest of Asia-Pacific
7.4.7.1. Market size and forecast, by type
7.4.7.2. Market size and forecast, by commercial ditributor
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors and Opportunities
7.5.2. Market Size and Forecast
7.5.3. UAE
7.5.3.1. Market size and forecast, by type
7.4.3.2. Market size and forecast, by commercial ditributor
7.5.4. Brazil
7.5.4.1. Market size and forecast, by type
7.4.4.2. Market size and forecast, by commercial ditributor
7.5.5. South Africa
7.5.5.1. Market size and forecast, by type
7.4.5.2. Market size and forecast, by commercial ditributor
7.5.6. Rest of LAMEA
7.5.6.1. Market size and forecast, by type
7.4.6.2. Market size and forecast, by commercial ditributor

CHAPTER 8. COMPANY PROFILES
8.1. AEGEAN MARINE PETROLEUM NETWORK INC
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Business Performance
8.1.5. Key Strategic Moves and Developments
8.2. BOMIN BUNKER OIL CORP
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Business Performance
8.2.5. Key Strategic Moves and Developments
8.3. BP PLC
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Business Performance
8.3.5. Key Strategic Moves and Developments
8.4. BUNKER HOLDING A/S
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Business Performance
8.4.5. Key Strategic Moves and Developments
8.5. CHEMOIL ENERGY LTD.
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Business Performance
8.5.5. Key Strategic Moves and Developments
8.6. EXXON MOBIL
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Business Performance
8.6.5. Key Strategic Moves and Developments
8.7. GAZPROM NEFT PJSC
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Business Performance
8.7.5. Key Strategic Moves and Developments
8.8. GAC BUNKER FUELS LTD.
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Business Performance
8.8.5. Key Strategic Moves and Developments
8.9. KPI BRIDGE OIL A/S.
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Business Performance
8.9.5. Key Strategic Moves and Developments
8.10. ROYAL DUTCH SHELL PLC.
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Business Performance
8.10.5. Key Strategic Moves and Developments
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According to A new report titled,titled, Bunker Fuel Market by Type, Commercial Distributor, and End User: Global Opportunity Alysis and Industry Forecast, 20172023, the bunker fuel market was valued at $97,230 million in 2016, and is projected to reach $142,489 million by 2023, growing at a CAGR of 9.6% from 2017 to 2023. Asia-Pacific domites the bunker fuel market, both in terms of volume and value, and is expected to continue to maintain this trend throughout the forecast period.

An alcoholic beverage is ethanol-based drink, which is commonly known as alcohol. Bunker fuel are divided into three general classes-beers, wines, and spirits. Bunker fuels are consumed across the globe for various uses. The demand for these beverages has changed over the past few years, owing to dwindling premises consumption trends.

The global bunker fuel market is driven by Intertiol Maritime Organizations regulations of sulfur emissions to 0.50% m/m (mass/mass) by 2020 in marine fuels and increase in sea-borne trade, particularly in terms of ton-km travelled. However, replacement of obsolete ships by efficient counterparts is expected to hamper the market growth.

The oil majors segment accounted for more than one-third share of the total market in 2016, in terms of value, and is expected to maintain its domince during the forecast period, owing to its high demand across the globe. However, large independent distributors are expected to grow with a faster rate due to rise in demand for MDO and MGO in the future.

In 2016, distillates (MDO/MGO) domited the global market, with nearly half of the market share, in terms of value. The demand for gasoil is expected to increase post January 2020, resulting in higher prices. Moreover, the price of residual fuel oil is anticipated to plummet in the near future. These factors are expected to drive the market during the forecast period. The profit margins for refining is expected to increase to cater to the anticipated supply of MGO by 2020.

Key findings And Scope

In terms of value, MGO segment is expected to grow at a CAGR of 20.1% during the forecast period.
In Asia-Pacific, Chi is estimated to grow fastest, in terms of value, registering a CAGR of 9.9%.
Large independent as commercial distributors occupied around one-third of the global market share in 2015, in value terms.
Containers accounted for over one-fifths of the bunker fuel market in 2016, and is expected to grow at a significant CAGR of 7.9%, in terms of value.

In 2016, Asia-Pacific and Europe collectively accounted for over three-fourths of the global bunker market, by volume, though Asia-Pacific is expected to grow at a faster rate during the forecast period. High trade frequency from emerging countries such as South Korea, India and Australia is estimated to drive the market growth.

The major companies profiled in the report include Aegean Marine Petroleum Network Inc., Bomin Bunker Oil Corp., BP PLC, Bunker Holding A/S, Chemoil Energy Ltd., Exxon Mobil, Gazprom Neft PJSC, GAC Bunker Fuels Ltd., KPI Bridge Oil A/S, and Royal Dutch Shell PLC.
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