A recent report published by Infinium Global Research on bunker
fuel market provides an in-depth analysis of segments and sub-segments in the
global as well as regional bunker fuel market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
bunker fuel market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
bunker fuel market. According to the report, the global bunker fuel market is
projected to grow at a healthy CAGR over the forecast period of 2019-2025.
Bunker fuel is persistent oil used to power up engines of ships.
It is brown to black liquid and has a characteristic odour. It spreads large
distances as it does not easily evaporate. The leading players in the global
bunker fuel market are focusing on mergers, acquisitions, and collaborations
that maximize their market share.
The surge in oil and gas exploration activities in developing oil
regions drives the growth of the bunker fuel market. The increasing seaborne
trade stimulates the growth of the bunker fuel market. The diminishing oil
reserves, rising prices, and lack of possible alternatives to petroleum promote
offshore exploration. The growing need to deal with environmental pollution
caused by conventional fuels in ship bunkers propels the growth of the bunker
fuel market. The enhanced reliability and cost-efficiency of bunker fuels
promote the growth of the bunker fuel market. The rising hydrocarbon resource
development activities propel the growth of the bunker fuel market. Using
bunker fuel in transporting goods through large sea shipments is cost-efficient
stimulating the growth of the bunker fuel market. On the flip side, strict
environmental regulations and close monitoring of trade routes hamper the
growth of the bunker fuel market. Bunker oil is hazardous and toxic to aquatic
life that hinders the growth of the bunker fuel market. Moreover, the surge in
globalization with more commercial cooperation creates numerous opportunities
for the growth of the bunker fuel market.
Based on geography, the global bunker fuel market is classified
into North America, Asia-Pacific, Europe, and the Rest of the World.
Asia-Pacific region is expected to hold a premium share in the global bunker
fuel market. The presence of major shipping countries in countries such as
India, China, Japan, and South Korea rives the growth of the bunker fuel market
in Asia-Pacific. North America is anticipated to grow with a significant CAGR
over the forecast period. The growing oil extraction projects in North America
contribute to the growth of the bunker fuel market in North America. Europe is
showing growth in the global bunker fuel market.
The report on the global bunker fuel market covers segments such as
grades, end-use, and seller type. On the basis of grades, the sub-markets
include IFO 380, IFO 180, IFO others, and MGO/MDO. On the basis of end-use, the
sub-markets include container fleet, tanker fleet, bulk and general cargo
fleet, and other end-uses. On the basis of seller type, the sub-markets
include major oil company, leading independent distributors, and small
The report provides profiles of the companies in the market such
as Aegean Marine Petroleum Network, Inc., Chemoil Energy Ltd., World Fuel
Services Corporation, Gazpromneft Marine Bunker LLC, Gulf Agency Co. Ltd., BP
Marine Ltd., Exxon Mobil Corporation, Bunker Holding A/S, Royal Dutch Shell
plc, Chevron Corporation, and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of bunker fuel
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.