Bunker Fuel Market Report: Trends, Forecast and Competitive Analysis to 2030

Bunker Fuel Trends and Forecast

The future of the global bunker fuel market looks promising with opportunities in the container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, and gas tanker markets. The global bunker fuel market is expected to reach an estimated $178.2 billion by 2030 with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are increasing demand for bunker fuel in the maritime industry, as well as exploration activities, escalating demand for international seaborne trade, and increasing offshore hydrocarbon resource development operations.

A more than 150-page report is developed to help in your business decisions.

Bunker Fuel by Segment

The study includes a forecast for the global bunker fuel by type, commercial distributor, application, and region.

Bunker Fuel Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• High Sulfur Fuel Oil
• Low Sulfur Fuel Oil
• Marine Gasoil
• Others

Bunker Fuel Market by Commercial Distributor [Shipment Analysis by Value from 2018 to 2030]:

• Oil Majors
• Large Independent Distributor
• Small Independent Distributor

Bunker Fuel Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Container
• Bulk Carrier
• Oil Tanker
• General Cargo
• Chemical Tanker
• Fishing Vessels
• Gas Tanker
• Others

Bunker Fuel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Bunker Fuel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bunker fuel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bunker fuel companies profiled in this report include-

• Royal Dutch Shell
• Gazprom Neft PJSC
• Chevron
• BP
• Lukoil
• TotalEnergies
• Sinopec
• Neste Oyj
• Petronas
• Exxon Mobil

Bunker Fuel Market Insights

Lucintel forecasts that low sulfur fuel oil will remain the larger segment over the forecast period because of the implementation of IMO-2020, there would be a decline in demand for high sulfur fuel oil (HSFO).

APAC will remain the largest region over the forecast period due to growth in the existence of a large customer base and increase in marine commerce activity in the region.

Features of the Global Bunker Fuel Market

Market Size Estimates: Bunker fuel market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Bunker fuel market size by type, commercial distributor, application, and region in terms of value ($B).

Regional Analysis: Bunker fuel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, commercial distributor, application, and regions for the bunker fuel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bunker fuel market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the bunker fuel market size?

Answer: The global bunker fuel market is expected to reach an estimated $178.2 billion by 2030.

Q2. What is the growth forecast for bunker fuel market?

Answer: The global bunker fuel market is expected to grow with a CAGR of 4.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the bunker fuel market?

Answer: The major drivers for this market are increasing demand for bunker fuel in the maritime industry, as well as exploration activities, escalating demand for international seaborne trade, and increasing offshore hydrocarbon resource development operations.

Q4. What are the major segments for bunker fuel market?

Answer: The future of the global bunker fuel market looks promising with opportunities in the container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, and gas tanker markets.

Q5. Who are the key bunker fuel market companies?

Answer: Some of the key bunker fuel companies are as follows.

• Royal Dutch Shell
• Gazprom Neft PJSC
• Chevron
• BP
• Lukoil
• TotalEnergies
• Sinopec
• Neste Oyj
• Petronas
• Exxon Mobil

Q6. Which bunker fuel market segment will be the largest in future?

Answer: Lucintel forecasts that low sulfur fuel oil will remain the larger segment over the forecast period because of the implementation of IMO-2020, there would be a decline in demand for high sulfur fuel oil (HSFO).

Q7. In bunker fuel market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to growth in the existence of a large customer base and increase in marine commerce activity in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the bunker fuel market by type (high sulfur fuel oil, low sulfur fuel oil, marine gasoil, and others), commercial distributor (oil majors, large independent distributor, and small independent distributor), application (container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessels, gas tanker, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?