Bunker fuel market was valued at USD 114.95 billion in 2021 and is expected to reach USD 163.47 billion by 2029, registering a CAGR of 4.50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
The bunker fuel is the generic term for any fuel delivered to ships of all states engaged in international navigation. It is utilized by the shipping corporation to fuel their marine fleet in order to power the engines by pouring the product into shipment’s bunker.
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Some of the major players operating in the bunker fuel market are:
- Total Energies (France)
- Marathon Petroleum Corporation (U.S.)
- BP p.l.c. (U.K.)
- Gazprom International Limited (Russia)
- BP SINOPEC MARINE FUELS. (Singapore)
- World Fuel Services Corporation. (U.S.)
- BUNKER HOLDING (Denmark)
- Exxon Mobil Corporation. (U.S.)
- Chevron Phillips Chemical Company LLC. (U.S.)
- Shell plc (U.K.)
- Neste (Finland)
- CHEMOIL ENERGY (Hong Kong)
Global Bunker Fuel Market Scope:
Global bunker fuel market is segmented on the basis of fuel, application and commercial distributor. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Fuel
- High Sulfur Fuel Oil
- Very Low Sulfur Fuel Oil
- Marine Diesel Oil
- Liquefied Natural Gas
Application
- Tanker Fleet
- Glass Container Fleet
- Bulk and General Cargo Fleet
- Others
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Bunker Fuel Market Regional Analysis/Insights:
The bunker fuel market is analysed and market size insights and trends are provided by fuel, application and commercial distributor as referenced above.
The countries covered in the bunker fuel market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue. It will continue to flourish its dominance due to the increasing demands for energy along with the requirement of better transportation facilities and infrastructure within the region.
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