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According to our (Global Info Research) latest study, the global Bunker Fuel market size was valued at USD 154240 million in 2023 and is forecast to a readjusted size of USD 241320 million by 2030 with a CAGR of 6.6% during review period.
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.
Asia-Pacific is the largest market with about 38% market share. Europe is follower, accounting for about 32% market share.
The key players are 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 etc. World Fuel Services is the largest manufacturer with about 9% market share.
The Global Info Research report includes an overview of the development of the Bunker Fuel industry chain, the market status of Tanker Vessels (Distillate Fuel Oil, Residual Fuel Oil), Container Vessels (Distillate Fuel Oil, Residual Fuel Oil), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Bunker Fuel.
Regionally, the report analyzes the Bunker Fuel markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Bunker Fuel market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Bunker Fuel market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Bunker Fuel industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (M MT), revenue generated, and market share of different by Type (e.g., Distillate Fuel Oil, Residual Fuel Oil).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Bunker Fuel market.
Regional Analysis: The report involves examining the Bunker Fuel market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Bunker Fuel market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Bunker Fuel:
Company Analysis: Report covers individual Bunker Fuel manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Bunker Fuel This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Tanker Vessels, Container Vessels).
Technology Analysis: Report covers specific technologies relevant to Bunker Fuel. It assesses the current state, advancements, and potential future developments in Bunker Fuel areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Bunker Fuel market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Bunker Fuel market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
- Distillate Fuel Oil
- Residual Fuel Oil
- LNG
Market segment by Application
- Tanker Vessels
- Container Vessels
- Bulk Vessels
- General Cargo Vessels
- Other
Major players covered
- 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
- China Shipping & Sinopec Suppliers Co., Ltd.
Market segment by region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Bunker Fuel product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Bunker Fuel, with price, sales, revenue and global market share of Bunker Fuel from 2019 to 2024.
Chapter 3, the Bunker Fuel competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Bunker Fuel breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Bunker Fuel market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Bunker Fuel.
Chapter 14 and 15, to describe Bunker Fuel sales channel, distributors, customers, research findings and conclusion.