Bunker Fuel Market Size- By Applications, By Commercial Distributors, By End Users, By Fuel Grades- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Description

Global Bunker Fuel Market Overview

According to SPER Market Research, the Global Bunker Fuel Market is estimated to reach USD 186.72 billion by 2032 with a CAGR of 4.54%.

The term Bunker fuel is used for the fuel oil used by marine vessels. It is used in the ship bunker to keep the engines moving. Residual fuel and distillate fuel are the main categories of fuels used in bunkers. It is mainly classified into three categories (A, B and C) depending on the quality with A being the highest quality and C being the lowest. There is another classification for the fuel which is based on the amount of sulphur present in the oil. As per it, the fuels are classified into high sulphur fuel oil, low sulphur fuel oil, marine gas oil, and others. They are characterised on the basis of their viscosities, carbon-carbon chain length, boiling point and the effluent release while the fuel is burned. Currently, bunker fuel C is the one which is mainly used by the Marine vessels. When it is burned, it releases large amount of GHG (greenhouse gases), Sulphur and other emissions that drastically deteriorate the climate and negatively affects the environmental and human health.

As compared to other oils, the bunker fuel oil has higher viscosity and due to this it is used by cruise liners, oil tankers, and container ships. The global bunker fuel market is increasing due to the increase in the number of international shipments, a result of globalization. The further increase in the number of cargo shipments projects the increase in the market in the next few years. The fuel is also used in the ships that are used to carry a lot of passenger because of their speed and high capacity for cargo. Out of the different types, the low sulphur fuel segment captures most of the market. Also, as a result of the enormous marine commerce potential of nations like India, China, Singapore, Japan, and others, the Asia-Pacific region is anticipated to dominate the bunker fuel industry. But the market is seeing various challenges which are hampering its growth. The reason for this can be due to awareness toward reducing environmental pollution, rise in the technological development in vessels, stringent government policies, increase in LNG-powered vessels.

Impact of COVID-19 on the Global Bunker Fuel Market

The infestation of COVID-19 has resulted in a drop in the global bunker fuel market which can be attributed to lockdown imposed which restricted the movements across the borders. Due to this we saw a steep fall in the number of shipments. It disrupted the import, export and hence the overall supply chain of many non-essential commodities which in turn affected the global bunker fuel market in a negative manner. But in post covid periods the shipments are regaining the numbers or in fact increasing than previous which is helping in increase in the market in the forecast period.

Scope of the Report

Report Metric Details:

Market size available for years: 2019-2032

Base year considered: 2021

Forecast period: 2022-2032

Segments covered: By Application, By Commercial Distributors, By End Users, By Fuel Grades

Regions covered: Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered: BP plc., BP SINOPEC , MARINE FUELS, Brightoil Petroleum (Holdings) Limited, Chemoil Energy Limited, Chevron Corporation, China Petrochemical Corporation, Exxon Mobil Corporation, Gazprom Neft PJSC, Lukoil-Bunker LLC, Marathon Petroleum Corporation, Minerva Bunkering, Neste, Petroleos Mexicanos, Petroliam Nasional Berhad (PETRONAS),Royal Dutch Shell PLC, Sinopec Group, Total SE

Global Bunker Fuel Market Segmentation:

By Application - Based on the Application, Global Bunker Fuel Market is segmented as; Bulk Carrier, Chemical Tanker, Container, Fishing Vessels, Gas Tanker, General Cargo, Oil Tanker, Others.

By Commercial Distributors- Based on the Commercial Distributors, Global Bunker Fuel Market is segmented as; Large Independent Distributor, Oil Majors, Small Independent Distributor.

By End Users- Based on the End Users, Global Bunker Fuel Market is segmented as; Bulk Carrier, Container, Oil Tanker, Others.

By Fuel Grades- Based on the Fuel Grades, Global Bunker Fuel Market is segmented as; IFO 380, IFO 180, IFO others, MGO/MDO.

By Region - Most of the revenue share belongs to the Asia and pacific region. As a result of the enormous marine commerce potential of nations like India, China, Singapore, Japan, and others, the Asia-Pacific region is anticipated to continuously dominate the bunker fuel industry.

Product Code: POAE2318

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1 Research data source
- 2.1.1 Secondary data
- 2.1.2 Primary data
- 2.1.3 SPER's internal database
- 2.1.4 Premium insight from KOL's
2.2 Market size estimation
- 2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1 Drivers
- 4.1.2 Restraints
- 4.1.3 Opportunities
- 4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Bunker Fuel Market

5. Market variables and outlook

5.1. SWOT analysis
- 5.1.1 Strengths
- 5.1.2 Weaknesses
- 5.1.3 Opportunities
- 5.1.4 Threats
5.2. PESTEL analysis
- 5.2.1 Political landscape
- 5.2.2 Economic landscape
- 5.2.3 Social landscape
- 5.2.4 Technological landscape
- 5.2.5 Environmental landscape
- 5.2.6 Legal landscape
5.3. PORTER'S five forces analysis
- 5.3.1 Bargaining power of suppliers
- 5.3.2 Bargaining power of Buyers
- 5.3.3 Threat of Substitute
- 5.3.4 Threat of new entrant
- 5.3.5 Competitive rivalry
5.4. Heat map analysis

6. Competitive Landscape

6.1 Global Bunker Fuel Market Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Bunker Fuel Market

7. Global Bunker Fuel Market, By Application, 2019-2032 (USD Million)

7.1 Bulk Carrier
7.2 Chemical Tanker
7.3 Container
7.4 Fishing Vessels
7.5 Gas Tanker
7.6 General Cargo
7.7 Oil Tanker
7.8 Others

8. Global Bunker Fuel Market, By Commercial Distributors, 2019-2032 (USD Million)

8.1 Large Independent Distributor
8.2 Oil Majors
8.3 Small Independent Distributor

9. Global Bunker Fuel Market, By End User, 2019-2032 (USD Million)

9.1 Bulk Carrier
9.2 Container
9.3 Oil Tanker
9.4 Others

10. Global Bunker Fuel Market, By Fuel Grades, 2019-2032 (USD Million)

10.1 IFO 380
10.2 IFO 180
10.3 IFO others
10.4 MGO/MDO

11. Global Bunker Fuel Market, By Region, 2019-2032 (USD Million)

11.1 Global Bunker Fuel Market Size and Market Share by Region (2019-2025)
11.2 Global Bunker Fuel Market Size and Market Share by Region (2026-2032)
11.3 Asia-Pacific
- 11.3.1 Australia
- 11.3.2 China
- 11.3.3 India
- 11.3.4 Japan
- 11.3.5 South Korea
- 11.3.6 Rest of Asia-Pacific
11.4 Europe
- 11.4.1 France
- 11.4.2 Germany
- 11.4.3 Italy
- 11.4.4 Spain
- 11.4.5 United Kingdom
- 11.4.6 Rest of Europe
11.5 Middle East and Africa
- 11.5.1 Kingdom of Saudi Arabia
- 11.5.2 United Arab Emirates
- 11.5.3 Rest of Middle East & Africa
11.6 North America
- 11.6.1 Canada
- 11.6.2 Mexico
- 11.6.3 United States
11.7 Latin America
- 11.7.1 Argentina
- 11.7.2 Brazil
- 11.7.3 Rest of Latin America

12. Company Profiles

12.1 BP plc.
- 12.1.1 Company details
- 12.1.2 Financial outlook
- 12.1.3 Product summary
- 12.1.4 Recent developments
12.2 BP SINOPEC MARINE FUELS
- 12.2.1 Company details
- 12.2.2 Financial outlook
- 12.2.3 Product summary
- 12.2.4 Recent developments
12.3 Brightoil Petroleum (Holdings) Limited
- 12.3.1 Company details
- 12.3.2 Financial outlook
- 12.3.3 Product summary
- 12.3.4 Recent developments
12.4 Chemoil Energy Limited
- 12.4.1 Company details
- 12.4.2 Financial outlook
- 12.4.3 Product summary
- 12.4.4 Recent developments
12.5 Chevron Corporation
- 12.5.1 Company details
- 12.5.2 Financial outlook
- 12.5.3 Product summary
- 12.5.4 Recent developments
12.6 China Petrochemical Corporation
- 12.6.1 Company details
- 12.6.2 Financial outlook
- 12.6.3 Product summary
- 12.6.4 Recent developments
12.7 Exxon Mobil Corporation
- 12.7.1 Company details
- 12.7.2 Financial outlook
- 12.7.3 Product summary
- 12.7.4 Recent developments
12.8 Gazprom Neft PJSC
- 12.8.1 Company details
- 12.8.2 Financial outlook
- 12.8.3 Product summary
- 12.8.4 Recent developments
12.9 Lukoil-Bunker LLC
- 12.9.1 Company details
- 12.9.2 Financial outlook
- 12.9.3 Product summary
- 12.9.4 Recent developments
12.10 Marathon Petroleum Corporation
- 12.10.1 Company details
- 12.10.2 Financial outlook
- 12.10.3 Product summary
- 12.10.4 Recent developments
12.11 Minerva Bunkering
- 12.11.1 Company details
- 12.11.2 Financial outlook
- 12.11.3 Product summary
- 12.11.4 Recent developments
12.12 Neste
- 12.12.1 Company details
- 12.12.2 Financial outlook
- 12.12.3 Product summary
- 12.12.4 Recent developments
12.13 Petroleos Mexicanos
- 12.13.1 Company details
- 12.13.2 Financial outlook
- 12.13.3 Product summary
- 12.13.4 Recent developments
12.14 Petroliam Nasional Berhad (PETRONAS)
- 12.14.1 Company details
- 12.14.2 Financial outlook
- 12.14.3 Product summary
- 12.14.4 Recent developments
12.15 Royal Dutch Shell PLC
- 12.15.1 Company details
- 12.15.2 Financial outlook
- 12.15.3 Product summary
- 12.15.4 Recent developments
12.16 Sinopec Group
- 12.16.1 Company details
- 12.16.2 Financial outlook
- 12.16.3 Product summary
- 12.16.4 Recent developments
12.17 Total SE
- 12.17.1 Company details
- 12.17.2 Financial outlook
- 12.17.3 Product summary
- 12.17.4 Recent developments