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Global Bunker Fuel Market: By Type: Distillate Fuel, Residual Fuel; By Fuel Grade: High Sulphur Fuel Oil (HSFO), Very Low Sulphur Fuel Oil (VLSFO), Marine Diesel Oil (MDO), Others; By Commercial Distributors; By End Use; Regional Analysis; Historical Market and Forecast (2015-2025); Competitive Landscape; Industry Events and Developments

Global Bunker Fuel Market Outlook

The global bunker fuel market attained a volume of 4.3 million b/d in 2019. The market is expected to grow at a CAGR of 2% in the forecast period of 2020-2025 to reach 4.8 million b/d by 2025.

 

Rising Activities Associated with Hydrogen Resource Development to Aid the Market Growth of Bunker Fuel

The market for bunker fuel is being driven by the rising activities associated with hydrogen resource development in offshore areas. The market is further aided by the rapidly growing bunker requirements in product tankers and crude oil. In addition, the rise in marine trade is also supporting the market growth of bunker fuel due to the increase in import-export activities. The rising oil and gas exploration activities in the emerging oil-producing regions, especially in the Asia Pacific region is expected to aid the market growth of bunker fuel over the forecast period. Moreover, the presence of oil-producing regions, which have unexplored reserves, are sufficient to meet the growing energy demand. As a result, the exploration of these untapped resources is anticipated to positively influence the demand for shipping vessels. This is expected to create lucrative growth opportunities, which will aid the market growth over the forecast period.

 

Bunker Fuel: Industry Definition and Segmentation

Bunker fuel refers to the fuel oil that is delivered to ships of all states engaged in international navigation. The international navigation can be done through various modes, like sea, in coastal waters, on inland lakes and waterways.

On the basis of type, the market is divided into:

  • Distillate Fuel
  • Residual Fuel

Based on fuel grade, the industry can be segmented into:

  • High Sulphur Fuel Oil (HSFO)
  • Very Low Sulphur Fuel Oil (VLSFO)
  • Marine Diesel Oil (MDO)
  • Liquefied Natural Gas (LNG)
  • Others

By commercial distributors, the industry is categorised into:

  • Oil Majors
  • Large Independent
  • Small Independent

On the basis of end use, the industry is divided into:

  • Containers
  • Bulk Carriers
  • General Cargo
  • Tankers
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Marine Diesel Oil to Aid the Market Growth of Bunker Fuel

The market of bunker fuel is being driven by the rising demand for marine diesel oil. It is expected to retain its dominance over the forecast period as well. This can be attributed to the low sulphur contents in comparison to residual fuel oil, which consists of a high volume of contaminants, such as sulphur. However, factors like the emergence of LNG fuel technology as an alternative to bunker fuel and initiatives taken by the global shipping industry to reduce fuel consumption are expected to hinder the market growth of bunker fuel over the forecast period.

 

Key Industry Players in the Global Bunker Fuel Market

The report gives a detailed analysis of the following key players in the global bunker fuel market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • ExxonMobil Corporation
  • Royal Dutch Shell plc.
  • BP Plc
  • Total SA
  • Chevron Corporation
  • Neste Oyj
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Bunker Fuel Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Bunker Fuel Historical Market (2015-2019) 
    8.3    Global Bunker Fuel Market Forecast (2020-2025)
    8.4    Global Bunker Fuel Market by Type
        8.4.1    Distillate Fuel
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2015-2019)
            8.4.1.3    Forecast Trend (2020-2025)
        8.4.2    Residual Fuel
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2015-2019)
            8.4.2.3    Forecast Trend (2020-2025)
    8.5    Global Bunker Fuel Market by Fuel Grade
        8.5.1    High Sulphur Fuel Oil (HSFO)
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2015-2019)
            8.5.1.3    Forecast Trend (2020-2025)
        8.5.2    Very Low Sulphur Fuel Oil (VLSFO)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2015-2019)
            8.5.2.3    Forecast Trend (2020-2025)
        8.5.3    Marine Diesel Oil (MDO)
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2015-2019)
            8.5.3.3    Forecast Trend (2020-2025)
        8.5.4    Liquefied Natural Gas (LNG)
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2015-2019)
            8.5.4.3    Forecast Trend (2020-2025)
        8.5.5    Others
    8.6    Global Bunker Fuel Market by Commercial Distributors
        8.6.1    Oil Majors
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2015-2019)
            8.6.1.3    Forecast Trend (2020-2025)
        8.6.2    Large Independent
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2015-2019)
            8.6.2.3    Forecast Trend (2020-2025)
        8.6.3    Small Independent
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2015-2019)
            8.6.3.3    Forecast Trend (2020-2025)
    8.7    Global Bunker Fuel Market by End Use
        8.7.1    Containers
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2015-2019)
            8.7.1.3    Forecast Trend (2020-2025)
    8.7.2    Bulk Carriers
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2015-2019)
            8.7.2.3    Forecast Trend (2020-2025)
        8.7.3    General Cargo
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2015-2019)
            8.7.3.3    Forecast Trend (2020-2025)
        8.7.4    Tankers
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2015-2019)
            8.7.4.3    Forecast Trend (2020-2025)
        8.7.5    Others
    8.8    Global Bunker Fuel Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2015-2019)
        9.1.2    Forecast Trend (2020-2025)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2015-2019)
        9.2.2    Forecast Trend (2020-2025)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2015-2019)
        9.3.2    Forecast Trend (2020-2025)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2015-2019)
        9.4.2    Forecast Trend (2020-2025)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2015-2019)
        9.5.2    Forecast Trend (2020-2025)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis

    12.1    Major Exporting Countries:
        12.1.1     By Value 
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1     By Value
        12.2.2     By Volume
13    Price Analysis
    13.1    North America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    13.2    Europe Historical Price Trends (2015-2019) and Forecast (2020-2025)
    13.3    Asia Pacific Historical Price Trends (2015-2019) and Forecast (2020-2025)
    13.4    Latin America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    13.5    Middle East and Africa Historical Price Trends (2015-2019) and Forecast (2020-2025)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    ExxonMobil Corporation
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Royal Dutch Shell plc.
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    BP Plc
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Total SA
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Chevron Corporation
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Neste Oyj
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Others
15    Industry Events and Developments

 

List of Figures and Tables

1.    Global Bunker Fuel Market: Key Industry Highlights, 2015 and 2025
2.    Global Bunker Fuel Historical Market: Breakup by Type (USD Billion), 2015-2019
3.    Global Bunker Fuel Market Forecast: Breakup by Type (USD Billion), 2020-2025
4.    Global Bunker Fuel Historical Market: Breakup by Fuel Grade (USD Billion), 2015-2019
5.    Global Bunker Fuel Market Forecast: Breakup by Fuel Grade (USD Billion), 2020-2025
6.    Global Bunker Fuel Historical Market: Breakup by Commercial Distributors (USD Billion), 2015-2019
7.    Global Bunker Fuel Market Forecast: Breakup by Commercial Distributors (USD Billion), 2020-2025
8.    Global Bunker Fuel Historical Market: Breakup by End Use (USD Billion), 2015-2019
9.    Global Bunker Fuel Market Forecast: Breakup by End Use (USD Billion), 2020-2025
10.    Global Bunker Fuel Historical Market: Breakup by Region (USD Billion), 2015-2019
11.    Global Bunker Fuel Market Forecast: Breakup by Region (USD Billion), 2020-2025
12.    North America Bunker Fuel Historical Market: Breakup by Country (USD Billion), 2015-2019
13.    North America Bunker Fuel Market Forecast: Breakup by Country (USD Billion), 2020-2025
14.    Europe Bunker Fuel Historical Market: Breakup by Country (USD Billion), 2015-2019
15.    Europe Bunker Fuel Market Forecast: Breakup by Country (USD Billion), 2020-2025
16.    Asia Pacific Bunker Fuel Historical Market: Breakup by Country (USD Billion), 2015-2019
17.    Asia Pacific Bunker Fuel Market Forecast: Breakup by Country (USD Billion), 2020-2025
18.    Latin America Bunker Fuel Historical Market: Breakup by Country (USD Billion), 2015-2019
19.    Latin America Bunker Fuel Market Forecast: Breakup by Country (USD Billion), 2020-2025
20.    Middle East and Africa Bunker Fuel Historical Market: Breakup by Country (USD Billion), 2015-2019
21.    Middle East and Africa Bunker Fuel Market Forecast: Breakup by Country (USD Billion), 2020-2025
22.    Major Importing Countries by Volume (2019)
23.    Major Exporting Countries by Volume (2019)
24.    Major Importing Countries by Value (2019)
25.    Major Exporting Countries by Value (2019)
26.    North America Historical Price Trends and Forecast 2015-2025
27.    Europe Historical Price Trends and Forecast 2015-2025
28.    Asia Pacific Historical Price Trends and Forecast 2015-2025
29.    Latin America Historical Price Trends and Forecast 2015-2025
30.    Middle East and Africa Historical Price Trends and Forecast 2015-2025
31.    Global Bunker Fuel Market Structure

Key Questions Answered in the Report

In 2019, the global bunker fuel act market attained a volume of 4.3 million b/d. 

The market is projected to grow at a CAGR of 2% between 2020 and 2025.

The market is estimated to witness a healthy growth in the forecast period of 2020-2025 to reach about 4.8 million b/d by 2025.

The major drivers of the industry, such as the rising marine trade, growing oil and gas exploration activities, rising demand from the developing regions, and increasing demand for MDO, are expected to aid the market growth.

The key market trend guiding the growth of the bunker fuel market includes the exploration of these untapped reserves to meet the growing energy demand.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading types of bunker fuel in the market are distillate fuel and residual fuel.

The significant fuel grades in the industry are high sulphur fuel oil (HSFO), very low sulphur fuel oil (VLSFO), marine diesel oil (MDO), and liquefied natural gas (LNG), among others.

The major commercial distributers of bunker fuel in the market are oil majors, large independent, and small independent.

The leading end use sectors in the industry are oil majors, large independent, and small independent.

The major players in the industry are ExxonMobil Corporation, Royal Dutch Shell plc., BP Plc, Total SA, Chevron Corporation, and Neste Oyj, among others.

Analyst Review

The global bunker fuel market attained a volume of 4.3 million b/d in 2019, driven by the growing marine trade. Aided by the rising oil and gas exploration activities, the market is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 2%. The market is projected to reach 4.8 million b/d by 2025.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is bifurcated into distillate fuel and residual fuel. On the basis of fuel grade, the industry is divided into high sulphur fuel oil (HSFO), very low sulphur fuel oil (VLSFO), marine diesel oil (MDO), and liquefied natural gas (LNG), among others. By commercial distributors, the market is segmented into oil majors, large independent, and small independent. Based on end use, the industry is categorised into containers, bulk carriers, general cargo, and tankers, among others. The major regional markets for bunker fuel are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ExxonMobil Corporation, Royal Dutch Shell plc., BP Plc, Total SA, Chevron Corporation, and Neste Oyj, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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