Bunker fuel market will reach an estimated valuation of USD 322.18 billion by 2027, while registering this growth at a rate of 9.50% for the forecast period of 2020 to 2027. Bunker fuel market report analyses the growth, which is currently being growing due to the increase in maritime trade activities and seaborne trade.
Bunker fuel is the generic term given to any fuel delivered to ships of all states that are engaged in international navigation. It is utilized by shipping corporations to fuel their marine fleet by pouring the product into the ship’s bunker to power its engines. Residual fuel and distillate fuel are the two types of fuels mainly used in bunkers.
Bunker Fuel Market Scope and Market Size
Bunker fuel market is segmented on the basis of fuel, application and commercial distributor. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
· On the basis of fuel, the bunker fuel market is segmented into high sulfur fuel oil (HSFO), very low sulfur fuel oil (VLSFO), marine diesel oil (MDO) and liquefied natural gas (LNG).
· On the basis of application, the bunker fuel market is segmented into tanker fleet, glass container fleet, bulk and general cargo fleet and others.
· On the basis of commercial distributor, the bunker fuel market is segmented into major oil companies, leading independent and small independent.
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Market Analysis and Insights: Global Bunker Fuel Market
The technological development in vessels and their engines and expanding fleet size of shipping vessels are the key factors driving the bunker fuel market. The growth in commercialization and industrialization leading to rise in imports/exports in developing countries accelerates the market growth. The increasing number of shipping vessels to facilitate the movement of goods across different nations also increases the consumption of bunker fuels, hence escalates the market. Additionally, the growing hydrocarbon resource development activities in the offshore, high demand for fuel storage and the increasing demand for tankers shipping crude oil in emerging countries also expands the bunker fuel market growth in the forecast period of 2020 to 2027. Furthermore, increasing oil and gas exploration activities and vast unexplored reserves to meet growing demand of energy extend profitable opportunities to the market players.
On the other hand, the fuel reduction initiatives by the shipping community, environmental concerns associated with carbon footprint caused by moving vessels and technological advancements for fuel efficient vessels are projected to obstruct the market growth in the above mentioned forecast period.
This bunker fuel market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on bunker fuel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Bunker Fuel Market Country Level Analysis
The countries covered in the bunker fuel market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Bunker Fuel Market Share Analysis
Bunker fuel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to bunker fuel market.
Top players in Bunker Fuel Market
The major players covered in the bunker fuel market report are Total, Marathon Petroleum Corporation, BP p.l.c., Gazprom, BP SINOPEC MARINE FUELS., World Fuel Services Corporation., BUNKER HOLDING, Exxon Mobil Corporation., Chevron Phillips Chemical Company., Royal Dutch ShellPlc, Neste, Brightoil Petroleum (Holdings) Limited., Saudi Arabian Oil Co., LUKOIL, GAC, Chemoil Energy Limited, KPI OCEANCONNECT, Bomin Bunker Holding, China Petrochemical Corporation., Minerva Bunkering, Petróleos Mexicanos., Petroliam Nasional Berhad (PETRONAS) among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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MAJOR TOC OF THE REPORT
· Chapter One: Introduction
· Chapter Two: Market Segmentation
· Chapter Three: Market Overview
· Chapter Four: Executive Summary
· Chapter Five: Premium Insights
· Chapter Six: bunker fuel market
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