Bunker Fuel Market is expected to see growth rate of 6% and may see market size of USD 153.99 Billion by 2024

Bunker Fuel Market is expected to see growth rate of 6% and may see market size of USD 153.99 Billion by 2024

“Bunker Fuel”
Bunker Fuel Comprehensive Study by Type (Marine Gasoil (MGO), Residual Fuel Oil (RFO)), Commercial Distribution (Oil Majors, Large Independent, Small Independent), End-User (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing, Gas Tanker, Others) Players and Region – Global Market Outlook to 2024

Advance Market Analytics recently introduced Global Bunker Fuel Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2025. Bunker Fuel Market explores effective study on varied sections of Industry like opportunities, size, growth, technology, demand and trend of high leading players. It also provides market key statistics on the status of manufacturers, a valuable source of guidance, direction for companies and individuals interested in the industry. According to AMA, the Global Bunker Fuel market is expected to see growth rate of 6.0% and may see market size of USD 153.99 Billion by 2024.

Bunker fuel is the fuel oil delivered to ships of all states that are engaged in international navigation. The international navigation could take place via ocean, on inland lakes & waterways, and in coastal waters. The 2 major bunker fuel classifications within the marine industry are distillates and residual fuel oils. Marine distillates are distributed into marine gas oil (MGO) and marine diesel oil (MDO). MGO is employed in small and extremely rated diesel engines that are prominently found in many sorts of ships. Residual fuel oil, also called heavy fuel oil (HFO), is that the highest viscosity fuel oil.

Major Players in This Report Include,

BP PLC (United Kingdom), ExxonMobil (United States), Royal Dutch Shell PLC (Netherlands), LUKOIL (Russia), Sinopec Group (China), Gazprom Neft PJSC (Russia), Chevron Corporation (United States), Neste (Finland), Saudi Arabian Oil Company (Saudi Arabia), Marathon Petroleum Corporation (United States), Valero Energy Corporation (United States) and China Petroleum & Chemical Corp (Sinopec Corporation) (China)

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Market Drivers

  • IMO’s Regulations of Sulfur Cap for Marine Fuels
  • Increasing Offshore Exploration Activities
  • Reducing Crude Oil Price



  • Fuel Reduction Initiatives by the Shipping Community



  • Increasing Oil and Gas Exploration Activities



  • Increasing Concerns Regarding the Worsening Condition In Terms Of Marine Pollution


Market Leaders and their expansionary development strategies
On 28, June 2018, ExxonMobil has announced the acquisition of PT Federal Karyatama, one of Indonesia’s largest manufacturers and marketers of motorcycle lubricants, from PT Mitra Pinasthika Mustika Tbk. and its affiliate. This acquisition includes the Federal Oil brand and a 700,000 barrel per year blending plant in Cilegon, Indonesia. This acquisition is expected to strengthen ExxonMobil’s position in a key growth market and will contribute to building the Mobil lubricant brand in Indonesia.

Recently, ExxonMobil has announced that it will supply fuels that fulfill with the International Maritime Organization’s (IMO) 0.5% Sulphur cap in ports in Northwest Europe, the Mediterranean and Singapore. and On 18 Dec 2018, Neste and ScanOcean AB have entered into cooperation in delivering Neste’s low-sulfur marine fuel. ScanOcean AB is now an official reseller for Neste’s 0.1% marine fuel products on the East Coast of Sweden. Low-Sulfur marine fuel is one of Neste’s high-quality products.
The rules, drawn up by the U.N. International Maritime Organization (IMO), will ban ships using fuel with a sulfur content higher than 0.5 percent, compared to 3.5 percent now, unless a vessel has the equipment to clean up its sulfur emissions. Any vessels failing to comply will face fines, could find their insurance stops being valid and might be declared “unseaworthy” which would bar them from sailing.

This research is categorized differently considering the various aspects of this market. It also evaluates the current situation and the future of the market by using the forecast horizon. The forecast is analyzed based on the volume and revenue of this market. The tools used for analyzing the Global Bunker Fuel Market research report include SWOT analysis.

The Global Bunker Fuel segments and Market Data Break Down are illuminated below:
by Type (Marine Gasoil (MGO), Residual Fuel Oil (RFO)), Commercial Distribution (Oil Majors, Large Independent, Small Independent), End-User (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing, Gas Tanker, Others), Fuel Grades (Marine Diesel Oil (or) Marine Gas Oil (MDO/MGO), Intermediate Fuel Oil (IFO) 180, Intermediate Fuel Oil (IFO) 380, Intermediate Fuel Oil (IFO) 500, Intermediate Fuel Oil (IFO) 700, Low Sulfur (LS) 380, Low Sulfur (LS) 180)

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The regional analysis of Global Bunker Fuel Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world. Whereas, owing to rising no. of research activities in countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate the forecast period 2019-2025.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Try a limited scope research document specific to Country or Regional matching your objective.

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Strategic Points Covered in Table of Content of Global Bunker Fuel Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Bunker Fuel market

Chapter 2: Exclusive Summary – the basic information of the Bunker Fuel Market.

Chapter 3: Displayingthe Market Dynamics- Drivers, Trends and Challenges of the Bunker Fuel

Chapter 4: Presenting the Bunker Fuel Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region 2013-2018

Chapter 6: Evaluating the leading manufacturers of the Bunker Fuel market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

finally, Bunker Fuel Market is a valuable source of guidance for individuals and companies.

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Key questions answered

• Who are the Leading key players and what are their Key Business plans in the Global Bunker Fuel market?
• What are the key concerns of the five forces analysis of the Global Bunker Fuel market?
• What are different prospects and threats faced by the dealers in the Global Bunker Fuel market?
• What are the strengths and weaknesses of the key vendors?

Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market.

Thanks for reading this article, we can also provide customized report as per company’s specific needs. You can also get separate chapter wise or region wise report versions including North America, Europe or Asia.

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