Bunker Fuel Market (Grades - IFO 380, IFO 180, IFO Others, and MGO/MDO; End-use - Container Fleet, Tanker Fleet, Bulk and General Cargo Fleet, and Other End-uses; Seller Type - Major Oil Company, Leading Independent Distributors, and Small Independent Distributors): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

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.

Market Insight

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.

Segment Covered

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 independent distributors.

Companies Profiled:

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.

Report Highlights:

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.