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Global Bunker Fuel Market to reach USD 166.87 billion by 2027

Global Bunker Fuel Market Size study, By Type (High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and Application (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tankers, and Others), and Regional Forecasts 2020-2027

Product Code: CAMOAGI_89302489
Publish Date: 6-12-2020
Page: 200

Global Bunker Fuel Market is valued approximately at USD 121 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2020-2027. Bunker fuel is a fuel oil used for marine vessels. It is pumped into the bunkers of the ship to fuel the engines. Ships primarily use three types of marine fuels, including high Sulphur fuel oil, low Sulphur fuel oil and diesel oil. Nowadays, awareness-raising to minimize environmental pollution and strict government regulations are expected to create opportunities for fuels, including LNG, gasoil, LPG, and others to replace the above-mentioned bunker fuels. The MO Regulation on the sulphur content of marine fuel and the rise in offshore oil & gas exploration activities are main drivers for the growth of the global Bunker Fuel market. However, efforts to minimize fuel consumption by the shipping industry are a key factor in limiting the growth of the global market. The increase in emphasis on LNG as an alternative marine fuel is expected to build opportunities in the global market for bunker fuel. Vessels and ship owners choose the lowest priced fuel oil available on the market, accounting for more than 65 per cent of overall travel expenses. As a result, vendors and manufacturers face dynamic rivalry in the bunker oil industry. This situation is also expected to provide an opportunity to achieve a high profit margin due to emergency fuel requirements. Bunker oil is given to meet the requirements for fuel in ports. As travel is the most preferred mode of transport for trade, which in turn, needs more fuel and has to refill the tanker many times during the journey. This is expected to raise demand for the global fuel oil bunker market over the forecast period. Vessels have a wide load-bearing capacity relative to other modes of transport that are driving industrial development at a rapid rate. Thus, this is another significant factor driving the development of the bunker oil industry.
The regional analysis of global Bunker Fuel Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. The Asia-Pacific bunker fuel bunker market is expected to expand due to growing shipbuilding activities and increasing inter-regional trade. Continuing R&D projects, combined with the involvement of many manufacturers in the industry, would improve product acceptance. Increasing maritime trade in South East Asia, especially across Indonesia and China, would further accelerate the industrial landscape.
Major market player included in this report are:
Exxon Mobil Corporation
Royal Dutch Shell Plc
Gazpromneft Marine Bunker LLC
Lukoil-Bunker LLC
KPI Bridge Oil A/S
Chemoil Energy Limited
Bunker Holding A/S
Gac Bunker Fuels Ltd
Bomin Bunker Oil Corp

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
High Sulfuric Fuel Oil
Low sulphur Fuel Oil
Marine Gas Oil
By Commercial Distributor:
Oil Majors
Large Independent
Small Independent
By Application:
Bulk Carrier
Oil Tanker
General Cargo
Chemical Tanker
Fishing Vessels
Gas Tankers
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Bunker Fuel Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Bunker Fuel Market, by Region, 2018-2027 (USD Billion)
1.2.2. Bunker Fuel Market, by Type, 2018-2027 (USD Billion)
1.2.3. Bunker Fuel Market, by Commercial Distributor, 2018-2027 (USD Billion)
1.2.4. Bunker Fuel Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Bunker Fuel Market Definition & Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Bunker Fuel Market Dynamics
3.1. Bunker Fuel Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Bunker Fuel Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Bunker Fuel Market, by Type
5.1. Market Snapshot
5.2. Global Bunker Fuel Market by Type, Performance – Potential Analysis
5.3. Global Bunker Fuel Market Estimates & Forecasts by Type, 2017-2027 (USD Billion)
5.4. Bunker Fuel Market, Sub Segment Analysis
5.4.1. High Sulfuric Fuel Oil
5.4.2. Low sulphur Fuel Oil
5.4.3. Marine Gas Oil
5.4.4. Others
Chapter 6. Global Bunker Fuel Market, by Commercial Distributor
6.1. Market Snapshot
6.2. Global Bunker Fuel Market by Commercial Distributor, Performance – Potential Analysis
6.3. Global Bunker Fuel Market Estimates & Forecasts by Commercial Distributor, 2017-2027 (USD Billion)
6.3.1. Oil Majors
6.3.2. Large Independent
6.3.3. Small Independent
Chapter 7. Global Bunker Fuel Market, by Application
7.1. Market Snapshot
7.2. Global Bunker Fuel Market by Application, Performance – Potential Analysis
7.3. Global Bunker Fuel Market Estimates & Forecasts by Application, 2017-2027 (USD Billion)
7.3.1. Container
7.3.2. Bulk Carrier
7.3.3. Oil Tanker
7.3.4. General Cargo
7.3.5. Chemical Tanker
7.3.6. Fishing Vessels
7.3.7. Gas Tankers
7.3.8. Others
Chapter 8. Global Bunker Fuel Market, Regional Analysis
8.1. Bunker Fuel Market, Regional Market Snapshot
8.2. North America Bunker Fuel Market
8.2.1. U.S. Bunker Fuel Market Type breakdown estimates & forecasts, 2017-2027 Commercial Distributor breakdown estimates & forecasts, 2017-2027 Application breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Bunker Fuel Market
8.3. Europe Bunker Fuel Market Snapshot
8.3.1. U.K. Bunker Fuel Market
8.3.2. Germany Bunker Fuel Market
8.3.3. France Bunker Fuel Market
8.3.4. Spain Bunker Fuel Market
8.3.5. Italy Bunker Fuel Market
8.3.6. Rest of Europe Bunker Fuel Market
8.4. Asia-Pacific Bunker Fuel Market Snapshot
8.4.1. China Bunker Fuel Market
8.4.2. India Bunker Fuel Market
8.4.3. Japan Bunker Fuel Market
8.4.4. Australia Bunker Fuel Market
8.4.5. South Korea Bunker Fuel Market
8.4.6. Rest of Asia Pacific Bunker Fuel Market
8.5. Latin America Bunker Fuel Market Snapshot
8.5.1. Brazil Bunker Fuel Market
8.5.2. Mexico Bunker Fuel Market
8.6. Rest of The World Bunker Fuel Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Exxon Mobil Corporation Key Information Overview Financial (Subject to Data Availability) Industry Summary Recent Developments
9.2.2. Royal Dutch Shell Plc
9.2.3. Gazpromneft Marine Bunker LLC
9.2.4. BP PLC
9.2.5. Lukoil-Bunker LLC
9.2.6. KPI Bridge Oil A/S
9.2.7. Chemoil Energy Limited
9.2.8. Bunker Holding A/S
9.2.9. Gac Bunker Fuels Ltd
9.2.10. Bomin Bunker Oil Corp
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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