Bunker Fuel Market: Current Analysis and Forecast (2021-2027)

About the Report

About the Report

The Bunker Fuel market demand is increasing at propelling rate over the years and is expected to witness influential growth during the forecasted period as well. Factors that are attracting the market size of the bunker fuel are a significant rise in demand for marine diesel oil and the steady adoption of low-sulfur fuel oils. In addition, the rise in offshore oil & gas exploration activities and the international maritime organization (IMO) regulations on sulfur content in marine fuel have boosted the growth of the global bunker fuel market. However, with emerging trade tensions between different countries like the United States and China, high tariffs and other trade barriers being imposed on various goods are likely to hinder the market growth during the forecast period.
Moreover, ongoing progress in the field of international trading of goods, offshore renewable energy production, and offshore E&P are expected to increase the requirement for bunker fuel in the market. Also, the rising need for different oil grades in the market is anticipated to create ample opportunities for the participants to expand their product portfolio which escalates the market size of bunker fuel.
 
Based on the type, the bunker fuel market is classified into high sulfur fuel oil, low sulfur fuel oil, marine gas oil, liquefied natural gas, and others. The liquefied natural gas segment caters to extensive market share in the bunker fuel market. The rising shift to LNG for propulsion is comparatively more advantageous than the traditional methods of fueling ships with heavy fuel oil, marine gas oil, marine diesel oil, etc. It is mainly because LNG-based propulsion reduces carbon footprint significantly and increases the ship's operational efficiency which is escalating the demand for LNG in the bunker fuel market.
Based on the commercial distributor, the bunker fuel market is segmented into oil majors, large independent distributors, and small independent distributors. The large independent segment acquired a considerable market share in the bunker fuel market. It is mainly due to the presence of blending facilities, storage terminals, financial stability, and others in these companies.
Based on application, the bunker fuel market is segmented into the container, bulk carrier, oil tanker, general cargo, the chemical tanker, fishing vessels, gas tanker, and others. The container segment is expected to account for a significant market share in the forecast period. The surge in demand for transportation of oil and oil-based products and growing trade-related agreements in the emerging economies is boosting the demand of the bunker fuel market.
For a better understanding of the market adoption of bunker fuel is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe), Middle East & Africa (UAE, Saudi Arabia, Nigeria, Egypt, South Africa and Rest of MEA), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), Rest of the World. The Asia Pacific is expected to hold a significant market share in the forecast period owing to the increase in presence of a huge consumer base and the rise in maritime trade activities in the region. Moreover, presence of the developing countries such as China, Japan, Singapore, South Korea, and India contribute to the growth of the bunker fuel market in Asia-Pacific.
Some of the major players operating in the bunker fuel market are BP Plc, Exxon Mobil Corporation, Royal Dutch Shell Plc, Lukoil, Sinopec Group, Gazprom Neft PJSC, Chevron Corporation, Petronas, TotalEnergies, Neste Oil. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Products


Companies

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

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Bunker Fuel Market

2.2. Research Methodology of the Bunker Fuel Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Bunker Fuel Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL BUNKER FUEL MARKET COVID-19 IMPACT

6 GLOBAL BUNKER FUEL MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. High Sulfur Fuel Oil

7.2. Low Sulfur Fuel Oil

7.3. Marine Gasoil

7.4. Liquefied Natural Gas

7.5. Others

8 MARKET INSIGHTS BY COMMERCIAL DISTRIBUTOR

8.1. Oil Majors

8.2. Large Independent Distributor

8.3. Small Independent Distributor

9 MARKET INSIGHTS BY APPLICATION

9.1. Container

9.2. Bulk Carrier

9.3. Oil Tanker

9.4. General Cargo

9.5. Chemical Tanker

9.6. Fishing Vessels

9.7. Gas Tanker

9.8. Others

10 MARKET INSIGHTS BY REGION

10.1. North America

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe

10.2.1. Germany

10.2.2. France

10.2.3. Spain

10.2.4. Italy

10.2.5. United Kingdom

10.2.6. Rest of Europe

10.3. Asia Pacific

10.3.1. China

10.3.2. India

10.3.3. Australia

10.3.4. Japan

10.3.5. Rest of Asia Pacific

10.4. Middle East & Africa

10.4.1. UAE

10.4.2. Saudi Arabia

10.4.3. Nigeria

10.4.4. Egypt

10.4.5. South Africa

10.4.6. Rest of MEA

10.5. Rest Of the World

11 BUNKER FUEL MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 BUNKER FUEL MARKET OPPORTUNITIES

13 BUNKER FUEL MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY-SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments, and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. BP Plc

18.2. Exxon Mobil Corporation

18.3. Royal Dutch Shell Plc

18.4. Lukoil

18.5. Sinopec Group

18.6. Gazprom Neft PJSC

18.7. Chevron Corporation

18.8. Petronas

18.9. TotalEnergies

18.10. Neste Oyj

19 DISCLAIMER

 

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