Bunker Fuel Trends and Forecast
The future of the global bunker fuel market looks promising with opportunities in the container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, and gas tanker markets. The global bunker fuel market is expected to reach an estimated $178.2 billion by 2030 with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are increasing demand for bunker fuel in the maritime industry, as well as exploration activities, escalating demand for international seaborne trade, and increasing offshore hydrocarbon resource development operations.Bunker Fuel by Segment
The study includes a forecast for the global bunker fuel by type, commercial distributor, application, and region.Bunker Fuel Market by Type [Shipment Analysis by Value from 2018 to 2030]
- High Sulfur Fuel Oil
- Low Sulfur Fuel Oil
- Marine Gasoil
- Others
Bunker Fuel Market by Commercial Distributor [Shipment Analysis by Value from 2018 to 2030]
- Oil Majors
- Large Independent Distributor
- Small Independent Distributor
Bunker Fuel Market by Application [Shipment Analysis by Value from 2018 to 2030]
- Container
- Bulk Carrier
- Oil Tanker
- General Cargo
- Chemical Tanker
- Fishing Vessels
- Gas Tanker
- Others
Bunker Fuel Market by Region [Shipment Analysis by Value from 2018 to 2030]
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Bunker Fuel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bunker fuel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bunker fuel companies profiled in this report include-- Royal Dutch Shell
- Gazprom Neft PJSC
- Chevron
- BP
- Lukoil
- TotalEnergies
- Sinopec
- Neste Oyj
- Petronas
- Exxon Mobil
Bunker Fuel Market Insights
The publisher forecasts that low sulfur fuel oil will remain the larger segment over the forecast period because of the implementation of IMO-2020, there would be a decline in demand for high sulfur fuel oil (HSFO).APAC will remain the largest region over the forecast period due to growth in the existence of a large customer base and increase in marine commerce activity in the region.
Features of the Global Bunker Fuel Market
- Market Size Estimates: Bunker fuel market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Bunker fuel market size by type, commercial distributor, application, and region in terms of value ($B).
- Regional Analysis: Bunker fuel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different type, commercial distributor, application, and regions for the bunker fuel market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bunker fuel market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the bunker fuel market size?Answer: The global bunker fuel market is expected to reach an estimated $178.2 billion by 2030.
Q2. What is the growth forecast for bunker fuel market?
Answer: The global bunker fuel market is expected to grow with a CAGR of 4.0% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the bunker fuel market?
Answer: The major drivers for this market are increasing demand for bunker fuel in the maritime industry, as well as exploration activities, escalating demand for international seaborne trade, and increasing offshore hydrocarbon resource development operations.
Q4. What are the major segments for bunker fuel market?
Answer: The future of the global bunker fuel market looks promising with opportunities in the container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, and gas tanker markets.
Q5. Who are the key bunker fuel market companies?
Answer: Some of the key bunker fuel companies are as follows:
- Royal Dutch Shell
- Gazprom Neft PJSC
- Chevron
- BP
- Lukoil
- TotalEnergies
- Sinopec
- Neste Oyj
- Petronas
- Exxon Mobil
Answer: The publisher forecasts that low sulfur fuel oil will remain the larger segment over the forecast period because of the implementation of IMO-2020, there would be a decline in demand for high sulfur fuel oil (HSFO).
Q7. In bunker fuel market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to growth in the existence of a large customer base and increase in marine commerce activity in the region.
Q.8 Do we receive customization in this report?
Answer: Yes,the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the bunker fuel market by type (high sulfur fuel oil, low sulfur fuel oil, marine gasoil, and others), commercial distributor (oil majors, large independent distributor, and small independent distributor), application (container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessels, gas tanker, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Bunker Fuel Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Royal Dutch Shell
- Gazprom Neft PJSC
- Chevron
- BP
- Lukoil
- TotalEnergies
- Sinopec
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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