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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.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
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
Lucintel 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
Q6. Which bunker fuel market segment will be the largest in future?
Answer: Lucintel 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, Lucintel 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?
For any questions related to Bunker Fuel Market, Bunker Fuel Market Size, Bunker Fuel Market Growth, Bunker Fuel Market Analysis, Bunker Fuel Market Report, Bunker Fuel Market Share, Bunker Fuel Market Trends, Bunker Fuel Market Forecast, Bunker Fuel Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Bunker Fuel Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Bunker Fuel Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Bunker Fuel Market by Type
3.3.1: High Sulfur Fuel Oil
3.3.2: Low Sulfur Fuel Oil
3.3.3: Marine Gasoil
3.3.4: Others
3.4: Global Bunker Fuel Market by Commercial Distributor
3.4.1: Oil Majors
3.4.2: Large Independent Distributor
3.4.3: Small Independent Distributor
3.5: Global Bunker Fuel Market by Application
3.5.1: Container
3.5.2: Bulk Carrier
3.5.3: Oil Tanker
3.5.4: General Cargo
3.5.5: Chemical Tanker
3.5.6: Fishing Vessels
3.5.7: Gas Tanker
3.5.8: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Bunker Fuel Market by Region
4.2: North American Bunker Fuel Market
4.2.2: North American Bunker Fuel Market by Application: Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tanker, and Others
4.3: European Bunker Fuel Market
4.3.1: European Bunker Fuel Market by Type: High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others
4.3.2: European Bunker Fuel Market by Application: Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tanker, and Others
4.4: APAC Bunker Fuel Market
4.4.1: APAC Bunker Fuel Market by Type: High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others
4.4.2: APAC Bunker Fuel Market by Application: Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tanker, and Others
4.5: ROW Bunker Fuel Market
4.5.1: ROW Bunker Fuel Market by Type: High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others
4.5.2: ROW Bunker Fuel Market by Application: Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tanker, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Bunker Fuel Market by Type
6.1.2: Growth Opportunities for the Global Bunker Fuel Market by Commercial Distributor
6.1.3: Growth Opportunities for the Global Bunker Fuel Market by Application
6.1.4: Growth Opportunities for the Global Bunker Fuel Market by Region
6.2: Emerging Trends in the Global Bunker Fuel Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Bunker Fuel Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Bunker Fuel Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Royal Dutch Shell
7.2: Gazprom Neft PJSC
7.3: Chevron
7.4: BP
7.5: Lukoil
7.6: TotalEnergies
7.7: Sinopec
7.8: Neste Oyj
7.9: Petronas
7.10: Exxon Mobil
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's 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 this 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 Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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