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United Kingdom Fuel Oil Market Size, Share, Growth, Analysis: By Type: Heavy Fuel Oil, Light Fuel Oil; By Application: Road and Domestic Waterway, Marine Bunkers, Petrochemicals, Residential/Commercial/Agricultural, Electricity Generation, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
United Kingdom Fuel Oil Market Outlook
The United Kingdom fuel oil market size is estimated to be valued at USD 217.60 million in 2023.
Key Takeaways:
- The United Kingdom's oil supply in 2022 amounted to 2,246,947 TJ, representing 34.9% of the overall energy supply, per IEA.
- By 2022, 808 million litres of bioethanol captured 32% of the UK's renewable fuel market, as per Fuels Industry UK.
- According to IEA, domestic crude oil production in the United Kingdom in 2022 amounted to 1,642,787 TJ.
Heavy fuel oil enhances the United Kingdom fuel oil market growth as it tends to be less expensive to produce and purchase
Its significant energy density can be beneficial for various applications requiring substantial energy. Heavy oil is valued for its cost-effectiveness, it is cheaper to produce in purchase and its high energy density makes it efficient for applications in power plants and marine diesel engines. It boasts longer storage lives and can be stable for longer periods without getting degraded. Fuel refiners are teaming up with big companies to store and deliver fuels to different locations.
In July 2023, Essar Oil (UK), a significant fuel refiner, teamed up with Oikos Storage to expand its operations in southern England. This collaboration permitted Essar to store and deliver fuel at Oikos's Canvey Island site, catering to the Thames region. Furthermore, Oikos's access to the UKOP pipeline allowed for fuel distribution to the Midlands and Northampton areas. This arrangement bolstered Essar's supply network and market position.
Light oils are known for their cleaner burning properties such as diesel, petrol, and gasoline. They are versatile and can be used across various applications, from vehicles to generators to aviation. They have a lower viscosity and weight which increases the ease of transportation, making them efficient for backup power plants and equipment.
Market Segmentation
United Kingdom Fuel Oil Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Heavy Fuel Oil
- Light Fuel Oil
Market Breakup by Application
- Road and Domestic Waterway
- Marine Bunkers
- Petrochemicals
- Residential/Commercial/Agricultural
- Electricity Generation
- Others
Market Breakup by Region
- England
- Wales
- Scotland
- Northern Ireland
The United Kingdom fuel oil market key players are Exxon Mobil Corporation, Shell Plc, Chevron Corp., BP Plc, TotalEnergies SE, Eni S.p.A and Valero Energy Corporation among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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 Market Snapshot
7 Opportunities and Challenges in the Market
8 Europe Fuel Oil Market Overview
8.1 Key Industry Highlights
8.2 Europe Fuel Oil Historical Market (2018-2023)
8.3 Europe Fuel Oil Market Forecast (2024-2032)
9 United Kingdom Fuel Oil Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Fuel Oil Historical Market (2018-2023)
9.3 United Kingdom Fuel Oil Market Forecast (2024-2032)
10 United Kingdom Fuel Oil Market by Type
10.1 Heavy Fuel Oil
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Light Fuel Oil
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 United Kingdom Fuel Oil Market by Application
11.1 Road and Domestic Waterway
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Marine Bunkers
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Petrochemicals
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Residential/Commercial/Agricultural
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Electricity Generation
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 United Kingdom Fuel Oil Market by Region
12.1 England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Wales
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Scotland
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Northern Ireland
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Exxon Mobil Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Shell Plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Chevron Corp.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 BP Plc
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 TotalEnergies SE
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Eni S.p.A
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Valero Energy Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Europe Fuel Oil Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Fuel Oil Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Fuel Oil Historical Market: Breakup by Type (USD Million), 2018-2023
4. United Kingdom Fuel Oil Market Forecast: Breakup by Type (USD Million), 2024-2032
5. United Kingdom Fuel Oil Historical Market: Breakup by Application (USD Million), 2018-2023
6. United Kingdom Fuel Oil Market Forecast: Breakup by Application (USD Million), 2024-2032
7. United Kingdom Fuel Oil Historical Market: Breakup by Region (USD Million), 2018-2023
8. United Kingdom Fuel Oil Market Forecast: Breakup by Region (USD Million), 2024-2032
9. United Kingdom Fuel Oil Market Structure
Key Questions Answered in the Report
The market is estimated to be valued at USD 217.60 million in 2023.
The fuel oil market is categorised according to the type, which includes heavy fuel oil and light fuel oil.
The key players are Exxon Mobil Corporation, Shell Plc, Chevron Corp., BP Plc, TotalEnergies SE, Eni S.p.A and Valero Energy Corporation among others.
Based on the application, the market is divided into road and domestic waterways, marine bunkers, petrochemicals, residential/commercial/agricultural, electricity generation and others.
The market is broken down into England, Wales, Scotland, and Northern Ireland.
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