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Bunker Fuel Market: Global Opportunity Analysis and Industry Forecast, 2018 - 2025

  • ID: 4828453
  • Report
  • January 2019
  • Region: Global
  • 317 Pages
  • Allied Analytics LLP
Bunker Fuel Market Overview:



The global bunker fuel market was valued at $137,215.5 million in 2017, and is projected to reach $273,050.4 million by 2025, growing at a CAGR of 9.4% from 2018 to 2025.

Bunker fuel is the fuel oil/gas delivered to the ships that are engaged in international navigation. The international navigation takes place via sea, coastal waters, and on waterways and inland lakes. In the marine industry, bunker fuel is classified in two major categories residual fuel oils and distillates. Marine distillate is divided into two categories, marine gas oil (MGO) and marine diesel oil (MDO). Marine gas oil is mostly used in small and highly rated diesel engines, which are found in many different ships. Residual fuel oil (HFO) is the high viscosity oil fuel. The most commonly used heavy fuels are IFO 180 and IFO 380.

Rise in offshore exploration & production (E&P) activity and increase in seaborne trade are the factors that drive the growth of the global bunker fuel market. In addition, IMO's regulations of sulfur cap for marine fuels are also expected to drive the growth of the bunker fuel market. High investment cost involved in development of bunker fuel infrastructure and regulatory framework is anticipated to hamper the growth of the bunker fuel market.
The global bunker fuel market is segmented based on type, commercial distributors, end user, and region. Based on type, the market is segmented into MGO and RFO. Based on the commercial distributors, it is classified into oil majors, large independent, and small independent. Based on end user, it is classified into container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessels, gas tanker, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players analyzed and profiled in this report are BP PLC, Exxon Mobil, Royal Dutch Shell PLC, Lukoil, Sinopec Group, Gazprom Neft PJSC, Chevron Corporation, Petroliam Nasional Berhad (PETRONAS), Total S.A., and Neste.

Key Benefits for Bunker Fuel Market:

The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global bunker fuel market from 2017 to 2025 to determine the prevailing opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
Profiles of leading players operating in the global technical textile market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.

Bunker Fuel Key Market Segments:

By Type

Marine Gas Oil (MGO)
Residual Fuel Oil (RFO)

By Commercial Distributor

Oil Majors
Large Independent
Small Independent

By End-User

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

By Region

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
Saudi Arabia
Brazil
South Africa
Rest of LAMEA
Frequently Asked Questions about the Global Bunker Fuel Market

What is the estimated value of the Global Bunker Fuel Market?

The Global Bunker Fuel Market was estimated to be valued at $137215.5 million in 2017.

What is the growth rate of the Global Bunker Fuel Market?

The growth rate of the Global Bunker Fuel Market is 9.0%, with an estimated value of $273050.4 million by 2025.

What is the forecasted size of the Global Bunker Fuel Market?

The Global Bunker Fuel Market is estimated to be worth $273050.4 million by 2025.
Note: Product cover images may vary from those shown

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.2.1. List of key players profiled in the report
1.3. Research methodology
1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter's five forces analysis
3.3.1. Bargaining power of buyers
3.3.2. Thereat of new entrants
3.3.3. Threat of substitutes
3.3.4. Intensity of competitive rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. IMOs regulations of sulfur cap for marine fuels
3.4.1.2. Increasing offshore exploration activities
3.4.2. Restraint
3.4.2.1. Fuel reduction initiatives by the shipping community
3.4.3. Opportunity
3.4.3.1. Increasing oil and gas exploration activities
CHAPTER 4: GLOBAL BUNKER FUEL MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Marine Gasoil (MGO)
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis, by country
4.3. Residual Fuel Oil
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis, by country
CHAPTER 5: GLOBAL BUNKER FUEL MARKET, BY COMMERCIAL DISTRIBUTOR
5.1. Overview
5.1.1. Market size and forecast
5.2. Oil Majors
5.2.1. Market size and forecast, by region
5.2.2. Market share analysis, by country
5.3. Large Independent
5.3.1. Market size and forecast, by region
5.3.2. Market share analysis, by country
5.4. Small Independent
5.4.1. Market size and forecast, by region
5.4.2. Market share analysis, by country
CHAPTER 6: GLOBAL BUNKER FUEL MARKET, BY END-USER
6.1. Overview
6.1.1. Market size and forecast
6.2. Container
6.2.1. Market size and forecast, by region
6.2.2. Market share analysis, by country
6.3. Bulk Carrier
6.3.1. Market size and forecast, by region
6.3.2. Market share analysis, by country
6.4. Oil Tanker
6.4.1. Market size and forecast, by region
6.4.2. Market share analysis, by country
6.5. General Cargo
6.5.1. Market size and forecast, by region
6.5.2. Market share analysis, by country
6.6. Chemical Tanker
6.6.1. Market size and forecast, by region
6.6.2. Market share analysis, by country
6.7. Fishing
6.7.1. Market size and forecast, by region
6.7.2. Market share analysis, by country
6.8. Gas Tanker
6.8.1. Market size and forecast, by region
6.8.2. Market share analysis, by country
6.9. Others
6.9.1. Market size and forecast, by region
6.9.2. Market share analysis, by country
CHAPTER 7: BUNKER FUEL MARKET, BY REGION
7.1. Overview
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, by type
7.2.3. Market size and forecast, by commercial distributor
7.2.4. Market size and forecast, by end-user
7.2.5. Market share analysis, by country
7.2.6. U.S.
7.2.6.1. Market size and forecast, by type
7.2.6.2. Market size and forecast, by commercial distributor
7.2.6.3. Market size and forecast, by end-user
7.2.7. Canada
7.2.7.1. Market size and forecast, by type
7.2.7.2. Market size and forecast, by commercial distributor
7.2.7.3. Market size and forecast, by end-user
7.2.8. Mexico
7.2.8.1. Market size and forecast, by type
7.2.8.2. Market size and forecast, by commercial distributor
7.2.8.3. Market size and forecast, by end-user
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by type
7.3.3. Market size and forecast, by commercial distributor
7.3.4. Market size and forecast, by end-user
7.3.5. Market share analysis, by country
7.3.6. UK
7.3.6.1. Market size and forecast, by type
7.3.6.2. Market size and forecast, by commercial distributor
7.3.6.3. Market size and forecast, by end-user
7.3.7. Germany
7.3.7.1. Market size and forecast, by type
7.3.7.2. Market size and forecast, by commercial distributor
7.3.7.3. Market size and forecast, by end-user
7.3.8. France
7.3.8.1. Market size and forecast, by type
7.3.8.2. Market size and forecast, by commercial distributor
7.3.8.3. Market size and forecast, by end-user
7.3.9. Italy
7.3.9.1. Market size and forecast, by type
7.3.9.2. Market size and forecast, by commercial distributor
7.3.9.3. Market size and forecast, by end-user
7.3.10. Spain
7.3.10.1. Market size and forecast, by type
7.3.10.2. Market size and forecast, by commercial distributor
7.3.10.3. Market size and forecast, by end-user
7.3.11. Rest of Europe
7.3.11.1. Market size and forecast, by type
7.3.11.2. Market size and forecast, by commercial distributor
7.3.11.3. Market size and forecast, by end-user
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by type
7.4.3. Market size and forecast, by commercial distributor
7.4.4. Market size and forecast, by end-user
7.4.5. Market share analysis, by country
7.4.6. China
7.4.6.1. Market size and forecast, by type
7.4.6.2. Market size and forecast, by commercial distributor
7.4.6.3. Market size and forecast, by end-user
7.4.7. Japan
7.4.7.1. Market size and forecast, by type
7.4.7.2. Market size and forecast, by commercial distributor
7.4.7.3. Market size and forecast, by end-user
7.4.8. India
7.4.8.1. Market size and forecast, by type
7.4.8.2. Market size and forecast, by commercial distributor
7.4.8.3. Market size and forecast, by end-user
7.4.9. South Korea
7.4.9.1. Market size and forecast, by type
7.4.9.2. Market size and forecast, by commercial distributor
7.4.9.3. Market size and forecast, by end-user
7.4.10. Rest of Asia-Pacific
7.4.10.1. Market size and forecast, by type
7.4.10.2. Market size and forecast, by commercial distributor
7.4.10.3. Market size and forecast, by end-user
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by type
7.5.3. Market size and forecast, by commercial distributor
7.5.4. Market size and forecast, by end-user
7.5.5. Market share analysis, by country
7.5.6. UAE
7.5.6.1. Market size and forecast, by type
7.5.6.2. Market size and forecast, by commercial distributor
7.5.6.3. Market size and forecast, by end-user
7.5.7. Saudi Arabia
7.5.7.1. Market size and forecast, by type
7.5.7.2. Market size and forecast, by commercial distributor
7.5.7.3. Market size and forecast, by end-user
7.5.8. Brazil
7.5.8.1. Market size and forecast, by type
7.5.8.2. Market size and forecast, by commercial distributor
7.5.8.3. Market size and forecast, by end-user
7.5.9. South Africa
7.5.9.1. Market size and forecast, by type
7.5.9.2. Market size and forecast, by commercial distributor
7.5.9.3. Market size and forecast, by end-user
7.5.10. Rest of LAMEA
7.5.10.1. Market size and forecast, by type
7.5.10.2. Market size and forecast, by commercial distributor
7.5.10.3. Market size and forecast, by end-user
CHAPTER 8: COMPANY PROFILES
8.1. BP PLC
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Business performance
8.2. ExxonMobil
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.3. Royal Dutch Shell PLC
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.4. LUKOIL
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.4.6. Key strategic moves and developments
8.5. Sinopec Group
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.6. Gazprom Neft PJSC
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6.6. Key strategic moves and developments
8.7. Chevron Corporation
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.8. Petroliam Nasional Berhad (PETRONAS)
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Product portfolio
8.8.4. Operating Business Segments
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. TOTAL S.A.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves and developments
8.10. Neste
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
8.10.6. Key strategic moves and developments
Note: Product cover images may vary from those shown
According to this report titled, 'Bunker Fuel Market by Type and End Use: Global Opportunity Analysis and Industry Forecast, 2018 - 2025' the global bunker fuel market was valued at $137,215.5 million in 2017, and is projected to reach $273,050.4 million by 2025, growing at a CAGR of 9.4% from 2018 to 2025. Bunker fuel is a type of fuel oil that is used abroad vessels. It is poured into ships bunkers to power its engines. Bunker fuel gets its name from tanks on ports and in ships that it is stored in. Previously, they were known as coal bunkers but now they are called as bunker fuel tanks.

Presently, rise in marine borne trade has increased the demand for bunker fuel and bunkering services. Increase in oil and gas exploration activities in emerging oil regions drive the growth of the bunker fuel market as many bunker fuel suppliers changed their focus of operation to these offshore resource site. In addition, fuel reduction initiatives by shipping industries are expected to hamper the market growth. Therefore, due to stringent environmental regulations regarding marine environment, shipping industry has decided to reduce the use of residual fuel oil that contains contaminants such as nitrogen and sulfur. Instead of this shipping industry is now changing its focus to looking for new alternative such as LNG which is less harmful to the marine environment. Growth in opportunities for market players to expand business of bunker fuel in emerging economies such as India, Japan, and China are expected to provide lucrative opportunities for the growth of the global bunker fuel market, due to exploration of untapped hydrocarbon reserves in these oil emerging countries.

Based on type, the global bunker fuel market is segmented into marine gas oil (MGO) and residual fuel oil (RFO). RFO is the heaviest fraction of crude oil distillation with high concentration of pollutants such as sulfur and with high viscosity. Combustion of this fuel produces much darker smoke than other fuels and requires specific temperature for pumping and storage. Due to this drawback, it is the cheapest marine fuel available in the market. MGO is a pure distillate oil and has the lowest sulfur content.

Based on commercial distributor, the market is divided into oil majors, large independents, and small independents. Oil majors are those companies involved in both production and trading of marine fuel products across the world, whereas independents are those that are involved in the trading of marine fuel products across major regions in the world. Small independents trade marine fuel products only in some restricted regions of the world. Major and large independents have advantage over small independents as they are more financially stable and owns storage terminals and blending facilities in major bunkering ports.

Based on end use, the market is divided into container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, gas tanker, and others (Yacht, refrigerated bulk, cruise). Bunker fuel is increasingly used in heavy transportation vessels to transport containers, bulk carriers, and oil tankers across the world.

Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific holds the major share in the global bunker fuel market due to the growth in hydrocarbon exploration activities in Asia-Pacific, especially in South China sea. Due to this, many bunker fuel suppliers shifted their operations to the off-shore ports and destination, which are deliberately closer to the offshore hydrocarbon resource site.

Key Findings of the Bunker Fuel Market:

The Asia-Pacific bunker fuel market is predicted to hold a share of over 46.7% by the end of 2025
The residual fuel segment is expected to hold a dominant share of over 60.0% in the global bunker fuel market in terms of revenue in 2017, and is predicted to reduce to 41.4% by 2025
The oil majors, commercial distributor segment is projected to have a share of over 41.6% in 2017, and is projected to reduce to 40.9% by the end of 2025

Market players have adopted agreement, partnership, and expansion as their key strategies to gain competitive advantage in this market. The key players profiled in this report include BP plc, ExxonMobil, Royal Dutch Shell plc, Lukoil, Sinopec Group, Gazprom Neft PJSC, Chevron Corporation, Petroliam Nasional Berhad (Petronas), Total S.A., and Neste.
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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