Bunker fuel is technically any type of fuel oil used aboard vessels. This kind of material can be broken down into different categories based on its chemical composition, intended purpose, and boiling temperature. In comparison with other petroleum products, bunker fuel is extremely crude and highly polluting.
The global consumption of bunker fuel increases from 261.89 Million Tonnes in 2013 to 285.13 Million Tonnes in 2020, and expect to grow at a CAGR of 2.49% from 2020 to 2024. The major consumption is concentrated in United States, Europe, China, etc. Asia Pacific is another key market for the global bunker fuel industry, China and Singapore being the main contributors to this industry. In 2020, Singapore bunker fuel consumption share was about 17.76% in 2020. GCC Countries consumption share took 11.02% and USA consumption share took 8.69%. In 2020, China took about 8.45% production market share, even though China is on the top list of marine transportation countries. In terms of bunker ports, Singapore, Fujairah, Rotterdam, Busan, Kongkong and Antwerp.
Global Bunker Fuel market size will increase to 175600 Million US$ by 2026, from 98200 Million US$ in 2020, at a CAGR of 7.5% during the forecast period. In this study, 2020 has been considered as the base year and 2021 to 2026 as the forecast period to estimate the market size for Bunker Fuel.
This report covers the present status and the future prospects of the global Bunker Fuel market for 2015-2026.
The report offers detailed coverage of Bunker Fuel industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Bunker Fuel by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key Companies
World Fuel Services, Bunker Holding, Chemoil, Aegean Marine Petroleum, China Marine Bunker, Bright Oil, BP, Exxon Mobil, Shell, Sinopec, Lukoil-Bunker, Total Marine Fuel, Gazpromneft, China Changjiang Bunker, Southern Pec, GAC, Shanghai Lonyer Fuels
Market Segment as follows:
Market by Order Type
Distillate Fuel Oil
Residual Fuel Oil
LNG
Bunker Fuel Breakdown Data by Application
Tanker Vessels
Container Vessels
Bulk Vessels
General Cargo Vessels
Other
Bunker Fuel Production market while maintaining their competitive edge over their competitors. The report offers detailed and crucial information to understand the overall market scenario.
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Bunker Fuel market for the forecast period 2021 - 2026?
• What are the driving forces in the Bunker Fuel market for the forecast period 2021 - 2026?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Bunker Fuel industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.