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Bunker Fuel Market By Type, By Commercial Distributor, By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030

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    Report

  • 440 Pages
  • March 2022
  • Region: Global
  • Allied Market Research
  • ID: 5237507
The global bunker fuel market was valued at $109.6 billion in 2020, and is projected to reach $164.9 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.

Bunker fuel is the fuel oil supplied to ships that are engaged in international navigation. The international navigation takes place through sea, coastal waters, on waterways, and inland lakes. Bunker fuel is mainly classified into low sulfur fuel oil, high sulfur fuel oil, marine gas oil, and others. Marine gas oil is mostly used in small and highly rated diesel engines, which are found in many different ships. High sulfur fuel oil is the high viscosity fuel oil. Bunkering is the term used to supply bunker fuel to ships or vessels that are further used in the maritime trade operations.

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, regulations of the international maritime organization (IMO) of sulfur cap for marine fuels drive the growth of the bunker fuel market. Moreover, increase in utilization of liquefied natural gas (LNG) as a marine fuel is anticipated to fuel the growth of the bunker fuel market during the forecast period. High investment cost involved in development of bunker fuel infrastructure and regulatory framework is anticipated to hamper the growth of the bunker fuel market. On the contrary, building & construction of international marine trade and sea trade routes is anticipated to fuel the market growth in future.

The global bunker fuel market is segmented on the basis of type, commercial distributor, application, and region. Depending on type, the market is categorized into high sulfur fuel oil (HSFO), low sulfur fuel oil (LSFO), marine gasoil, and others. On the basis of commercial distributor, it is classified into oil major, large independent, and small independent. As per the application, it is fragmented into container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessels, gas tankers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits For Stakeholders

  • The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2030.
  • A comprehensive analysis of the factors that drive and restrict the growth of the global bunker fuel market is provided.
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
  • Estimations and forecast are based on factors impacting the global bunker fuel market growth, in terms of value.
  • The key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which help to identify the prevailing market opportunities.

Key Market Segments


By Type

  • High Sulfur Fuel Oil
  • Low Sulfur Fuel Oil
  • Marine Gasoil
  • Others

By Commercial Distributor

  • Oil Majors
  • Large Independent Distributor
  • Small Independent Distributor

By Application

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

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa,
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Iraq
  • Djibouti
  • East Africa
  • Oman
  • Egypt
  • Rest of LAMEA

Key Market Players

  • BP Plc
  • Exxon Mobil Corporation
  • Royal Dutch Shell Plc
  • Lukoil
  • Sinopec Group
  • Gazprom Neft PJSC
  • Chevron Corporation
  • Petronas
  • TotalEnergies
  • Neste Oyj
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 $109.6 billion in 2020.

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

The growth rate of the Global Bunker Fuel Market is 4.2%, with an estimated value of $164.9 billion by 2030.

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

The Global Bunker Fuel Market is estimated to be worth $164.9 billion by 2030.

Who are the key companies in the Global Bunker Fuel Market?

Key companies in the Global Bunker Fuel Market include BP Plc, Exxon Mobil Corporation, Royal Dutch Shell Plc, Lukoil, Sinopec Group, Gazprom Neft PJSC, Chevron Corporation, Petronas and Neste Oyj.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. 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
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Value Chain Analysis
3.8. Patent Landscape
3.9. Market Share Analysis
3.10. Pricing Analysis
3.11. Key Regulation Analysis
CHAPTER 4: BUNKER FUEL MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 High Sulfur Fuel Oil
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Low Sulfur 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 analysis by country
4.4 Marine Gasoil
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Others
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
CHAPTER 5: BUNKER FUEL MARKET, BY COMMERCIAL DISTRIBUTOR
5.1 Overview
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, by region
5.2.3 Market analysis by country
5.3 Large Independent Distributor
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Small Independent Distributor
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: BUNKER FUEL MARKET, BY APPLICATION
6.1 Overview
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, by region
6.2.3 Market analysis by country
6.3 Bulk Carrier
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 Oil Tanker
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
6.5 General Cargo
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market analysis by country
6.6 Chemical Tanker
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market analysis by country
6.7 Fishing Vessels
6.7.1 Key market trends, growth factors and opportunities
6.7.2 Market size and forecast, by region
6.7.3 Market analysis by country
6.8 Gas Tanker
6.8.1 Key market trends, growth factors and opportunities
6.8.2 Market size and forecast, by region
6.8.3 Market analysis by country
6.9 Others
6.9.1 Key market trends, growth factors and opportunities
6.9.2 Market size and forecast, by region
6.9.3 Market 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 trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.3 North America Market size and forecast, by Commercial Distributor
7.2.4 North America Market size and forecast, by Application
7.2.5 North America Market size and forecast, by country
7.2.5.1 U.S.
7.2.5.1.1 Market size and forecast, by Type
7.2.5.1.2 Market size and forecast, by Commercial Distributor
7.2.5.1.3 Market size and forecast, by Application
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Type
7.2.5.2.2 Market size and forecast, by Commercial Distributor
7.2.5.2.3 Market size and forecast, by Application
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Type
7.2.5.3.2 Market size and forecast, by Commercial Distributor
7.2.5.3.3 Market size and forecast, by Application
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.3 Europe Market size and forecast, by Commercial Distributor
7.3.4 Europe Market size and forecast, by Application
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Market size and forecast, by Type
7.3.5.1.2 Market size and forecast, by Commercial Distributor
7.3.5.1.3 Market size and forecast, by Application
7.3.5.2 France
7.3.5.2.1 Market size and forecast, by Type
7.3.5.2.2 Market size and forecast, by Commercial Distributor
7.3.5.2.3 Market size and forecast, by Application
7.3.5.3 U.K.
7.3.5.3.1 Market size and forecast, by Type
7.3.5.3.2 Market size and forecast, by Commercial Distributor
7.3.5.3.3 Market size and forecast, by Application
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Type
7.3.5.4.2 Market size and forecast, by Commercial Distributor
7.3.5.4.3 Market size and forecast, by Application
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Type
7.3.5.5.2 Market size and forecast, by Commercial Distributor
7.3.5.5.3 Market size and forecast, by Application
7.3.5.6 Rest of Europe
7.3.5.6.1 Market size and forecast, by Type
7.3.5.6.2 Market size and forecast, by Commercial Distributor
7.3.5.6.3 Market size and forecast, by Application
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.3 Asia-Pacific Market size and forecast, by Commercial Distributor
7.4.4 Asia-Pacific Market size and forecast, by Application
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Type
7.4.5.1.2 Market size and forecast, by Commercial Distributor
7.4.5.1.3 Market size and forecast, by Application
7.4.5.2 Japan
7.4.5.2.1 Market size and forecast, by Type
7.4.5.2.2 Market size and forecast, by Commercial Distributor
7.4.5.2.3 Market size and forecast, by Application
7.4.5.3 India
7.4.5.3.1 Market size and forecast, by Type
7.4.5.3.2 Market size and forecast, by Commercial Distributor
7.4.5.3.3 Market size and forecast, by Application
7.4.5.4 South Korea
7.4.5.4.1 Market size and forecast, by Type
7.4.5.4.2 Market size and forecast, by Commercial Distributor
7.4.5.4.3 Market size and forecast, by Application
7.4.5.5 Singapore
7.4.5.5.1 Market size and forecast, by Type
7.4.5.5.2 Market size and forecast, by Commercial Distributor
7.4.5.5.3 Market size and forecast, by Application
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Market size and forecast, by Type
7.4.5.6.2 Market size and forecast, by Commercial Distributor
7.4.5.6.3 Market size and forecast, by Application
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.3 LAMEA Market size and forecast, by Commercial Distributor
7.5.4 LAMEA Market size and forecast, by Application
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Type
7.5.5.1.2 Market size and forecast, by Commercial Distributor
7.5.5.1.3 Market size and forecast, by Application
7.5.5.2 South Africa,
7.5.5.2.1 Market size and forecast, by Type
7.5.5.2.2 Market size and forecast, by Commercial Distributor
7.5.5.2.3 Market size and forecast, by Application
7.5.5.3 Saudi Arabia
7.5.5.3.1 Market size and forecast, by Type
7.5.5.3.2 Market size and forecast, by Commercial Distributor
7.5.5.3.3 Market size and forecast, by Application
7.5.5.4 UAE
7.5.5.4.1 Market size and forecast, by Type
7.5.5.4.2 Market size and forecast, by Commercial Distributor
7.5.5.4.3 Market size and forecast, by Application
7.5.5.5 Qatar
7.5.5.5.1 Market size and forecast, by Type
7.5.5.5.2 Market size and forecast, by Commercial Distributor
7.5.5.5.3 Market size and forecast, by Application
7.5.5.6 Kuwait
7.5.5.6.1 Market size and forecast, by Type
7.5.5.6.2 Market size and forecast, by Commercial Distributor
7.5.5.6.3 Market size and forecast, by Application
7.5.5.7 Iraq
7.5.5.7.1 Market size and forecast, by Type
7.5.5.7.2 Market size and forecast, by Commercial Distributor
7.5.5.7.3 Market size and forecast, by Application
7.5.5.8 Djibouti
7.5.5.8.1 Market size and forecast, by Type
7.5.5.8.2 Market size and forecast, by Commercial Distributor
7.5.5.8.3 Market size and forecast, by Application
7.5.5.9 East Africa
7.5.5.9.1 Market size and forecast, by Type
7.5.5.9.2 Market size and forecast, by Commercial Distributor
7.5.5.9.3 Market size and forecast, by Application
7.5.5.10 Oman
7.5.5.10.1 Market size and forecast, by Type
7.5.5.10.2 Market size and forecast, by Commercial Distributor
7.5.5.10.3 Market size and forecast, by Application
7.5.5.11 Egypt
7.5.5.11.1 Market size and forecast, by Type
7.5.5.11.2 Market size and forecast, by Commercial Distributor
7.5.5.11.3 Market size and forecast, by Application
7.5.5.12 Rest of LAMEA
7.5.5.12.1 Market size and forecast, by Type
7.5.5.12.2 Market size and forecast, by Commercial Distributor
7.5.5.12.3 Market size and forecast, by Application
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 BP Plc
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Exxon Mobil Corporation
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Royal Dutch Shell Plc
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Lukoil
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Sinopec Group
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Gazprom Neft PJSC
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Chevron Corporation
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Petronas
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 TotalEnergies
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Neste Oyj
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Bunker Fuel Market, by Type, 2020-2030, ($Million)
Table 2. Bunker Fuel Market Revenue, for High Sulfur Fuel Oil, by Region, 2020-2030, ($Million)
Table 3. Bunker Fuel Market High Sulfur Fuel Oil by Country, 2020-2030, ($Million)
Table 4. Bunker Fuel Market Revenue, for Low Sulfur Fuel Oil, by Region, 2020-2030, ($Million)
Table 5. Bunker Fuel Market Low Sulfur Fuel Oil by Country, 2020-2030, ($Million)
Table 6. Bunker Fuel Market Revenue, for Marine Gasoil, by Region, 2020-2030, ($Million)
Table 7. Bunker Fuel Market Marine Gasoil by Country, 2020-2030, ($Million)
Table 8. Bunker Fuel Market Revenue, for Others, by Region, 2020-2030, ($Million)
Table 9. Bunker Fuel Market Others by Country, 2020-2030, ($Million)
Table 10. Global Bunker Fuel Market, by Commercial Distributor, 2020-2030, ($Million)
Table 11. Bunker Fuel Market Revenue, for Oil Majors, by Region, 2020-2030, ($Million)
Table 12. Bunker Fuel Market Oil Majors by Country, 2020-2030, ($Million)
Table 13. Bunker Fuel Market Revenue, for Large Independent Distributor, by Region, 2020-2030, ($Million)
Table 14. Bunker Fuel Market Large Independent Distributor by Country, 2020-2030, ($Million)
Table 15. Bunker Fuel Market Revenue, for Small Independent Distributor, by Region, 2020-2030, ($Million)
Table 16. Bunker Fuel Market Small Independent Distributor by Country, 2020-2030, ($Million)
Table 17. Global Bunker Fuel Market, by Application, 2020-2030, ($Million)
Table 18. Bunker Fuel Market Revenue, for Container, by Region, 2020-2030, ($Million)
Table 19. Bunker Fuel Market Container by Country, 2020-2030, ($Million)
Table 20. Bunker Fuel Market Revenue, for Bulk Carrier, by Region, 2020-2030, ($Million)
Table 21. Bunker Fuel Market Bulk Carrier by Country, 2020-2030, ($Million)
Table 22. Bunker Fuel Market Revenue, for Oil Tanker, by Region, 2020-2030, ($Million)
Table 23. Bunker Fuel Market Oil Tanker by Country, 2020-2030, ($Million)
Table 24. Bunker Fuel Market Revenue, for General Cargo, by Region, 2020-2030, ($Million)
Table 25. Bunker Fuel Market General Cargo by Country, 2020-2030, ($Million)
Table 26. Bunker Fuel Market Revenue, for Chemical Tanker, by Region, 2020-2030, ($Million)
Table 27. Bunker Fuel Market Chemical Tanker by Country, 2020-2030, ($Million)
Table 28. Bunker Fuel Market Revenue, for Fishing Vessels, by Region, 2020-2030, ($Million)
Table 29. Bunker Fuel Market Fishing Vessels by Country, 2020-2030, ($Million)
Table 30. Bunker Fuel Market Revenue, for Gas Tanker, by Region, 2020-2030, ($Million)
Table 31. Bunker Fuel Market Gas Tanker by Country, 2020-2030, ($Million)
Table 32. Bunker Fuel Market Revenue, for Others, by Region, 2020-2030, ($Million)
Table 33. Bunker Fuel Market Others by Country, 2020-2030, ($Million)
Table 34. Bunker Fuel Market, by Region, 2020-2030, ($Million)
Table 35. North America Bunker Fuel Market, by Type, 2020-2030, ($Million)
Table 36. North America Bunker Fuel Market, by Commercial Distributor, 2020-2030, ($Million)
Table 37. North America Bunker Fuel Market, by Application, 2020-2030, ($Million)
Table 38. North America Bunker Fuel Market, by Country, 2020-2030, ($Million)
Table 39. U.S. Bunker Fuel Market by Type 2020-2030, ($Million)
Table 40. U.S. Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 41. U.S. Bunker Fuel Market by Application 2020-2030, ($Million)
Table 42. Canada Bunker Fuel Market by Type 2020-2030, ($Million)
Table 43. Canada Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 44. Canada Bunker Fuel Market by Application 2020-2030, ($Million)
Table 45. Mexico Bunker Fuel Market by Type 2020-2030, ($Million)
Table 46. Mexico Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 47. Mexico Bunker Fuel Market by Application 2020-2030, ($Million)
Table 48. Europe Bunker Fuel Market, by Type, 2020-2030, ($Million)
Table 49. Europe Bunker Fuel Market, by Commercial Distributor, 2020-2030, ($Million)
Table 50. Europe Bunker Fuel Market, by Application, 2020-2030, ($Million)
Table 51. Europe Bunker Fuel Market, by Country, 2020-2030, ($Million)
Table 52. Germany Bunker Fuel Market by Type 2020-2030, ($Million)
Table 53. Germany Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 54. Germany Bunker Fuel Market by Application 2020-2030, ($Million)
Table 55. France Bunker Fuel Market by Type 2020-2030, ($Million)
Table 56. France Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 57. France Bunker Fuel Market by Application 2020-2030, ($Million)
Table 58. U.K. Bunker Fuel Market by Type 2020-2030, ($Million)
Table 59. U.K. Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 60. U.K. Bunker Fuel Market by Application 2020-2030, ($Million)
Table 61. Italy Bunker Fuel Market by Type 2020-2030, ($Million)
Table 62. Italy Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 63. Italy Bunker Fuel Market by Application 2020-2030, ($Million)
Table 64. Spain Bunker Fuel Market by Type 2020-2030, ($Million)
Table 65. Spain Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 66. Spain Bunker Fuel Market by Application 2020-2030, ($Million)
Table 67. Rest of Europe Bunker Fuel Market by Type 2020-2030, ($Million)
Table 68. Rest of Europe Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 69. Rest of Europe Bunker Fuel Market by Application 2020-2030, ($Million)
Table 70. Asia-Pacific Bunker Fuel Market, by Type, 2020-2030, ($Million)
Table 71. Asia-Pacific Bunker Fuel Market, by Commercial Distributor, 2020-2030, ($Million)
Table 72. Asia-Pacific Bunker Fuel Market, by Application, 2020-2030, ($Million)
Table 73. Asia-Pacific Bunker Fuel Market, by Country, 2020-2030, ($Million)
Table 74. China Bunker Fuel Market by Type 2020-2030, ($Million)
Table 75. China Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 76. China Bunker Fuel Market by Application 2020-2030, ($Million)
Table 77. Japan Bunker Fuel Market by Type 2020-2030, ($Million)
Table 78. Japan Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 79. Japan Bunker Fuel Market by Application 2020-2030, ($Million)
Table 80. India Bunker Fuel Market by Type 2020-2030, ($Million)
Table 81. India Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 82. India Bunker Fuel Market by Application 2020-2030, ($Million)
Table 83. South Korea Bunker Fuel Market by Type 2020-2030, ($Million)
Table 84. South Korea Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 85. South Korea Bunker Fuel Market by Application 2020-2030, ($Million)
Table 86. Singapore Bunker Fuel Market by Type 2020-2030, ($Million)
Table 87. Singapore Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 88. Singapore Bunker Fuel Market by Application 2020-2030, ($Million)
Table 89. Rest of Asia-Pacific Bunker Fuel Market by Type 2020-2030, ($Million)
Table 90. Rest of Asia-Pacific Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 91. Rest of Asia-Pacific Bunker Fuel Market by Application 2020-2030, ($Million)
Table 92. LAMEA Bunker Fuel Market, by Type, 2020-2030, ($Million)
Table 93. LAMEA Bunker Fuel Market, by Commercial Distributor, 2020-2030, ($Million)
Table 94. LAMEA Bunker Fuel Market, by Application, 2020-2030, ($Million)
Table 95. LAMEA Bunker Fuel Market, by Country, 2020-2030, ($Million)
Table 96. Brazil Bunker Fuel Market by Type 2020-2030, ($Million)
Table 97. Brazil Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 98. Brazil Bunker Fuel Market by Application 2020-2030, ($Million)
Table 99. South Africa, Bunker Fuel Market by Type 2020-2030, ($Million)
Table 100. South Africa, Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 101. South Africa, Bunker Fuel Market by Application 2020-2030, ($Million)
Table 102. Saudi Arabia Bunker Fuel Market by Type 2020-2030, ($Million)
Table 103. Saudi Arabia Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 104. Saudi Arabia Bunker Fuel Market by Application 2020-2030, ($Million)
Table 105. UAE Bunker Fuel Market by Type 2020-2030, ($Million)
Table 106. UAE Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 107. UAE Bunker Fuel Market by Application 2020-2030, ($Million)
Table 108. Qatar Bunker Fuel Market by Type 2020-2030, ($Million)
Table 109. Qatar Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 110. Qatar Bunker Fuel Market by Application 2020-2030, ($Million)
Table 111. Kuwait Bunker Fuel Market by Type 2020-2030, ($Million)
Table 112. Kuwait Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 113. Kuwait Bunker Fuel Market by Application 2020-2030, ($Million)
Table 114. Iraq Bunker Fuel Market by Type 2020-2030, ($Million)
Table 115. Iraq Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 116. Iraq Bunker Fuel Market by Application 2020-2030, ($Million)
Table 117. Djibouti Bunker Fuel Market by Type 2020-2030, ($Million)
Table 118. Djibouti Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 119. Djibouti Bunker Fuel Market by Application 2020-2030, ($Million)
Table 120. East Africa Bunker Fuel Market by Type 2020-2030, ($Million)
Table 121. East Africa Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 122. East Africa Bunker Fuel Market by Application 2020-2030, ($Million)
Table 123. Oman Bunker Fuel Market by Type 2020-2030, ($Million)
Table 124. Oman Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 125. Oman Bunker Fuel Market by Application 2020-2030, ($Million)
Table 126. Egypt Bunker Fuel Market by Type 2020-2030, ($Million)
Table 127. Egypt Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 128. Egypt Bunker Fuel Market by Application 2020-2030, ($Million)
Table 129. Rest of LAMEA Bunker Fuel Market by Type 2020-2030, ($Million)
Table 130. Rest of LAMEA Bunker Fuel Market by Commercial Distributor 2020-2030, ($Million)
Table 131. Rest of LAMEA Bunker Fuel Market by Application 2020-2030, ($Million)
Table 132. Bp plc: Company Snapshot
Table 133. Bp plc: Operating Segments
Table 134. Bp plc: Product Portfolio
Table 135. Bp plc: Net Sales
Table 136. Bp plc: Key Stratergies
Table 137. Exxon Mobil Corporation: Company Snapshot
Table 138. Exxon Mobil Corporation: Operating Segments
Table 139. Exxon Mobil Corporation: Product Portfolio
Table 140. Exxon Mobil Corporation: Net Sales
Table 141. Exxon Mobil Corporation: Key Stratergies
Table 142. Royal Dutch Shell plc: Company Snapshot
Table 143. Royal Dutch Shell plc: Operating Segments
Table 144. Royal Dutch Shell plc: Product Portfolio
Table 145. Royal Dutch Shell plc: Net Sales
Table 146. Royal Dutch Shell plc: Key Stratergies
Table 147. Lukoil: Company Snapshot
Table 148. Lukoil: Operating Segments
Table 149. Lukoil: Product Portfolio
Table 150. Lukoil: Net Sales
Table 151. Lukoil: Key Stratergies
Table 152. Sinopec Group: Company Snapshot
Table 153. Sinopec Group: Operating Segments
Table 154. Sinopec Group: Product Portfolio
Table 155. Sinopec Group: Net Sales
Table 156. Sinopec Group: Key Stratergies
Table 157. Gazprom Neft Pjsc: Company Snapshot
Table 158. Gazprom Neft Pjsc: Operating Segments
Table 159. Gazprom Neft Pjsc: Product Portfolio
Table 160. Gazprom Neft Pjsc: Net Sales
Table 161. Gazprom Neft Pjsc: Key Stratergies
Table 162. Chevron Corporation: Company Snapshot
Table 163. Chevron Corporation: Operating Segments
Table 164. Chevron Corporation: Product Portfolio
Table 165. Chevron Corporation: Net Sales
Table 166. Chevron Corporation: Key Stratergies
Table 167. Petronas: Company Snapshot
Table 168. Petronas: Operating Segments
Table 169. Petronas: Product Portfolio
Table 170. Petronas: Net Sales
Table 171. Petronas: Key Stratergies
Table 172. Totalenergies: Company Snapshot
Table 173. Totalenergies: Operating Segments
Table 174. Totalenergies: Product Portfolio
Table 175. Totalenergies: Net Sales
Table 176. Totalenergies: Key Stratergies
Table 177. Neste Oyj: Company Snapshot
Table 178. Neste Oyj: Operating Segments
Table 179. Neste Oyj: Product Portfolio
Table 180. Neste Oyj: Net Sales
Table 181. Neste Oyj: Key Stratergies
LIST OF FIGURES
Figure 1. Bunker Fuel Market Segmentation
Figure 2. Bunker Fuel Market, 2020-2030
Figure 3. Bunker Fuel Market, 2020-2030
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Bunker Fuel Market:Drivers, Restraints and Opportunities
Figure 12. Value Chain Analysis
Figure 13. Patent Analysis by Company
Figure 14. Patent Analysis by Country
Figure 15. Market Share Analysis
Figure 16. Bunker Fuel Market, by Type, 2020 (%)
Figure 17. Comparative Share Analysis of High Sulfur Fuel Oil Bunker Fuel Market, 2020-2030 (%)
Figure 18. Comparative Share Analysis of Low Sulfur Fuel Oil Bunker Fuel Market, 2020-2030 (%)
Figure 19. Comparative Share Analysis of Marine Gasoil Bunker Fuel Market, 2020-2030 (%)
Figure 20. Comparative Share Analysis of Others Bunker Fuel Market, 2020-2030 (%)
Figure 21. Bunker Fuel Market, by Commercial Distributor, 2020 (%)
Figure 22. Comparative Share Analysis of Oil Majors Bunker Fuel Market, 2020-2030 (%)
Figure 23. Comparative Share Analysis of Large Independent Distributor Bunker Fuel Market, 2020-2030 (%)
Figure 24. Comparative Share Analysis of Small Independent Distributor Bunker Fuel Market, 2020-2030 (%)
Figure 25. Bunker Fuel Market, by Application, 2020 (%)
Figure 26. Comparative Share Analysis of Container Bunker Fuel Market, 2020-2030 (%)
Figure 27. Comparative Share Analysis of Bulk Carrier Bunker Fuel Market, 2020-2030 (%)
Figure 28. Comparative Share Analysis of Oil Tanker Bunker Fuel Market, 2020-2030 (%)
Figure 29. Comparative Share Analysis of General Cargo Bunker Fuel Market, 2020-2030 (%)
Figure 30. Comparative Share Analysis of Chemical Tanker Bunker Fuel Market, 2020-2030 (%)
Figure 31. Comparative Share Analysis of Fishing Vessels Bunker Fuel Market, 2020-2030 (%)
Figure 32. Comparative Share Analysis of Gas Tanker Bunker Fuel Market, 2020-2030 (%)
Figure 33. Comparative Share Analysis of Others Bunker Fuel Market, 2020-2030 (%)
Figure 34. Bunker Fuel Market by Region, 2020
Figure 35. U.S. Bunker Fuel Market, 2020-2030 ($Million)
Figure 36. Canada Bunker Fuel Market, 2020-2030 ($Million)
Figure 37. Mexico Bunker Fuel Market, 2020-2030 ($Million)
Figure 38. Germany Bunker Fuel Market, 2020-2030 ($Million)
Figure 39. France Bunker Fuel Market, 2020-2030 ($Million)
Figure 40. U.K. Bunker Fuel Market, 2020-2030 ($Million)
Figure 41. Italy Bunker Fuel Market, 2020-2030 ($Million)
Figure 42. Spain Bunker Fuel Market, 2020-2030 ($Million)
Figure 43. Rest of Europe Bunker Fuel Market, 2020-2030 ($Million)
Figure 44. China Bunker Fuel Market, 2020-2030 ($Million)
Figure 45. Japan Bunker Fuel Market, 2020-2030 ($Million)
Figure 46. India Bunker Fuel Market, 2020-2030 ($Million)
Figure 47. South Korea Bunker Fuel Market, 2020-2030 ($Million)
Figure 48. Singapore Bunker Fuel Market, 2020-2030 ($Million)
Figure 49. Rest of Asia-Pacific Bunker Fuel Market, 2020-2030 ($Million)
Figure 50. Brazil Bunker Fuel Market, 2020-2030 ($Million)
Figure 51. South Africa, Bunker Fuel Market, 2020-2030 ($Million)
Figure 52. Saudi Arabia Bunker Fuel Market, 2020-2030 ($Million)
Figure 53. Uae Bunker Fuel Market, 2020-2030 ($Million)
Figure 54. Qatar Bunker Fuel Market, 2020-2030 ($Million)
Figure 55. Kuwait Bunker Fuel Market, 2020-2030 ($Million)
Figure 56. Iraq Bunker Fuel Market, 2020-2030 ($Million)
Figure 57. Djibouti Bunker Fuel Market, 2020-2030 ($Million)
Figure 58. East Africa Bunker Fuel Market, 2020-2030 ($Million)
Figure 59. Oman Bunker Fuel Market, 2020-2030 ($Million)
Figure 60. Egypt Bunker Fuel Market, 2020-2030 ($Million)
Figure 61. Rest of LAMEA Bunker Fuel Market, 2020-2030 ($Million)
Figure 62. Top Winning Strategies, by Year
Figure 63. Top Winning Strategies, by Development
Figure 64. Top Winning Strategies, by Company
Figure 65. Product Mapping of Top 10 Players
Figure 66. Competitive Dashboard
Figure 67. Competitive Heatmap of Top 10 Key Players
Figure 68. Bp PLC.: Net Sales, ($Million)
Figure 69. Exxon Mobil Corporation.: Net Sales, ($Million)
Figure 70. Royal Dutch Shell PLC.: Net Sales, ($Million)
Figure 71. Lukoil.: Net Sales, ($Million)
Figure 72. Sinopec Group.: Net Sales, ($Million)
Figure 73. Gazprom Neft Pjsc.: Net Sales, ($Million)
Figure 74. Chevron Corporation.: Net Sales, ($Million)
Figure 75. Petronas.: Net Sales, ($Million)
Figure 76. Totalenergies.: Net Sales, ($Million)
Figure 77. Neste Oyj.: Net Sales, ($Million)

Executive Summary

According to this report titled, 'Bunker Fuel Market,' the bunker fuel market size was valued at $109.6 billion in 2020, and is estimated to reach $164.9 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.

Bunker fuel is a type of fuel oil used on ships that travel internationally. It is put into the bunkers of ships to fuel the engines. Bunker fuel gets its name from tanks on ports and in ships that it is stored in. It was known as coal bunker initially, but now it is called as bunker fuel tank. Bunker fuels are used to power their motors, engine, drive, and other equipment in the marine vessels. In January 2020, key players operating in this market focused on utilization of low sulfur fuel oil with the implementation of IMO-2020 regulations on sulfur content in the marine fuel. However, heavy fuel oil or high sulfur fuel oil can be used on the ships where scrubbers are installed.
Rise in marine trade increased the demand for bunker fuel and bunkering services. Increase in oil & gas exploration activities in emerging oil regions drives the growth of the bunker fuel market as many bunker fuel suppliers changed their focus of operation to these offshore resource sites. In addition, fuel reduction initiatives by shipping industries hamper the market growth. Therefore, due to stringent environmental regulations regarding marine environment, the shipping industry decided to reduce the use of residual fuel oil that contains contaminants, including nitrogen and sulfur. The shipping industry focus toward new alternative such as liquefied natural gas (LNG), which is less harmful to the marine environment. Growth in opportunities for market players to expand business in the developing countries such as India, Japan, and China is expected to provide lucrative growth opportunities for the global bunker fuel market, due to exploration of untapped hydrocarbon reserves in these oil emerging countries.

Depending on the type, the low sulfur fuel oil segment held the highest bunker fuel market share of around 65.17% in 2020, and is expected be dominant during the forecast period. This is due to implementation of IMO-2020, hence there will be decrease in demand for HSFO, which, in turn, is expected to fuel the market growth for low sulfur fuel oil in the future.

Depending on commercial distributor, the oil major segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to dominance of oil majors in the crude oil tanker chartering business across the globe.

By application, the container segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 4.6%. This is attributed to increase in demand for cargo transportation through ships and rise in trade-related agreements. In addition, rise in number of manufacturing units and factories in the region such as Asia-Pacific and LAMEA drive the growth of the bunker fuel market for container shipping.

Region wise, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2020, and is anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base and increase in maritime trade activities in the region. Moreover, presence of the developing countries such as China, Japan, Singapore, South Korea, and India contribute toward the growth of the bunker fuel market in Asia-Pacific.

The global bunker fuel market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include BP p.l.c., Exxon Mobil Corporation, Royal Dutch Shell PLC., Lukoil, Sinopec Group, Gazprom Neft PJSC, Chevron Corporation, PETRONAS, Total SE, and Neste.

Other players operating in the value chain of the global bunker fuel market are Saudi Arabian Oil Company, Marathon Petroleum Corporation, Valero Energy Corporation, Minerve Bunkering, World Fuel Services Corporation, Gac Bunker Fuels Limited, and Bomin Bunker Oil Corp.

COVID-19 Impact on the Market

The demand for marine fuel decreased, owing to COVID-19 pandemic across the globe. According to the International Energy Agency (IEA), fuel oil demand for end uses including marine bunker, power generation, and industrial uses is expected to decline by 6.3% in 2020. Furthermore, as LNG and crude oil prices declined in the 2nd quarter of 2020, thus, the overall revenue of bunker fuel diminished in the second quarter of 2020. Owing to the implementation of IMO-2020 in January, there was increase in demand for very low sulfur fuel oil, but with the supply chain disruptions there were ups and down in the low sulfur bunker fuel sales throughout 2020. In addition, high sulfur fuel oil demand collapsed due to IMO regulation along with COVID-19 pandemic,restraining the market growth in 2020-2021.

Key findings of the Study

  • In 2020, low sulfur fuel oil segment accounted for majority of the share of the global bunker fuel market, and is expected to down throughout the bunker fuel market forecast period.
  • In 2020, the oil major segment accounted for about 44.9% of the share in the global bunker fuel market, and is expected to maintain its dominance till the end of the forecast period.
  • The container segment is accounted for 22.8% market share in the year 2020, and is anticipated to grow at a rate of 4.6% in terms of revenue, increasing its share in the global bunker fuel market.
  • Low sulfur fuel oil is the fastest-growing fuel type in the Asia-Pacific bunker fuel market, expected to grow at a CAGR of 5.2% during 2021-2030.
  • Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 4.7%, throughout the forecast period.
  • In 2020, Asia-Pacific dominated the global bunker fuel market with more than 47.04% of the share, in terms of revenue.

Companies Mentioned

  • BP Plc
  • Exxon Mobil Corporation
  • Royal Dutch Shell Plc
  • Lukoil
  • Sinopec Group
  • Gazprom Neft PJSC
  • Chevron Corporation
  • Petronas
  • TotalEnergies
  • Neste Oyj

Methodology

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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