Bunker Fuel Market Report 2020, Size, Share, Trends and Forecast to 2025

Chemical and Materials

The report provides an analytical and statistical insight into the Bunker Fuel Market. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years, according to the latest report by IMARC Group.

Bunker fuel, also known as a marine fuel, refers to a heavy, residual oil used for fueling the motors or engines of the marine fleet. It is collected after extracting diesel, gasoline, and other light hydrocarbons from crude oil during the refining process. Bunker fuel is a viscous liquid with high sulfur content and a distinctive odor. The global market for bunker fuel is primarily catalyzed by the rising need for eco-friendly and clean transportation fuels in the marine sector.

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Rapid globalization, along with the growing number of international seaborne trade activities, is augmenting the demand for bunker fuel. Besides this, the expanding oil and gas sector has propelled the need for sustainable fuel for offshore oil and gas exploration and processing activities. Moreover, the rising focus on strengthening geographical border security, along with the expansion of naval fleets, has further propelled the demand for bunker fuel. In the wake of increasing environmental concerns, several market players are emphasizing on the development of cleaner and ecologically-safe fuels, including bunker fuel. Looking forward, IMARC Group expects the global bunker fuel market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bunker fuel market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, fuel type, vessel type and seller.

Breakup by Fuel Type:

  • High Sulfur Fuel Oil (HSFO)
  • Very Low Sulfur Fuel Oil (VLSFO)
  • Marine Diesel Oil (MDO)
  • Liquefied Natural Gas (LNG)

Breakup by Vessel Type:

  • Containers
  • Tankers
  • General Cargo
  • Bulk Carrier
  • Others

Breakup by Seller:

  • Major Oil Companies
  • Leading Independent Sellers
  • Small Independent Sellers

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape Key Player:

  • Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG)
  • BP Plc
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Gazprom Neft PJSC (Gazprom)
  • LUKOIL
  • Neste Oyj
  • Petroliam Nasional Berhad (PETRONAS)
  • Royal Dutch Shell Plc
  • TOTAL S.A.

Explore Full Report with TOC & List of Figure: https://bit.ly/3hMllJn

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