Bunker Fuel Market Is Expected To Reach Worth US$ 288.3 Bn By 2020

Posted by johnson on March 1st, 2019

According to the latest report published by Credence Research, Inc. “Bunker Fuel Market: Growth, Future Prospects and Competitive Analysis, 2015-2020,” the  global bunker fuel market was valued at US$ 244 Bn in 2014, and is expected to reach US$ 288.3 Bn by 2020, expanding at a CAGR of 2.8% from 2015 to 2020.

Market Insights

The progress of the global bunker fuel market is majorly attributed to the growing demand for fuel from tanker vessels and containers. Large-scale bunkering ports situated at strategic locations account for a significant share in the overall market. Asia Pacific is observed to be the largest market for bunker fuel both in terms of market revenue and volume due to large commodity consumption in the region. The European market for bunker fuel is growing at a competitive growth rate due to existence of some of the busiest trade routes and choke points in the region. Furthermore, growing imports of goods and fuel oil in the region further contribute to the dominance of Asia Pacific in the global bunker fuel market.

Browse the full report Bunker Fuel Market Growth, Future Prospects and Competitive Analysis, 2015-2020 report at https://www.credenceresearch.com/report/bunker-fuel-market

Bunker fuel is majorly utilized by shipping corporations, where residual fuel and distillate fuel are used for fueling fleets. Residual fuel currently dominates the bunker fuel market among the available fuel types. Based on fuel grades, the global bunker fuel market is majorly categorized into MDO/MGO, IFO 380, IFO 180, Other IFO (IFO 500 & 700), LS 380 and LS 180. IFO fuel are the most preferred fuel grades as against others due to their cheaper price. IFO 380 segment is further anticipated to continue to dominate the market over the forecast period because a significant number of ship engines are fitted to combust IFO 380 fuel. Furthermore, as the expansion of emission control areas is progressing the demand for MDO/MGO type fuels is anticipated to grow.

Based on the sellers of bunker fuel, this market is categorized into major oil companies, Leading independent distributors and small Independent distributors. Some market players such as Chemoil Energy Limited and World Fuel Services Corp. function worldwide; whereas players such as Gazpromneft Marine Bunker LLC lead in regional markets alone. Independent distributors have a critical advantage over small distributors that they have assets like strategically located storage terminals and blending facilities at various ports. In addition, leading independent distributors have an advantage over their counterparts that they have the financial stability to fund geographical expansion and also acquire small independent distributors.

Among the end users, bulk and general cargo vessels occupy the largest market share in the global bunker fuel market. However, since cargo vessels require significant manpower for operation these vessel type are being perpetually replaced by container vessels, thus contributing to their fastest growth rate during the forecast period. The major drivers of the global bunker fuel market are swift increase in bunker requirements in product and fuel transport, and growing hydrocarbon resource development activities in offshore areas. On the other hand, increasing initiatives to reduce fuel consumption and emissions are challenging the growth of this market.

Table of Content

1 Preface
1.1 Report Scope and Description
1.2 Research Methodology
1.2.1 Phase I-Secondary Research
1.2.2 Phase II-Primary Research
1.2.3 Phase II-Expert Panel Review
1.2.4 Assumptions
1.2.5 Approach Adopted

2 Executive Summary
2.1 Global Bunker Fuel Market Snapshot
2.1.1 Global Bunker Fuel Market by Geography, 2014
2.1.2 Global Bunker Fuel Market by Fuel Grade, 2014
2.1.3 Global Bunker Fuel Market by Seller, 2014

3 Global Bunker Fuel Market Dynamics
3.1 Market Overview
3.2 Drivers
3.3 Challenges
3.4 Future Prospects
3.5 Impact Analysis of Drivers and Challenges During the Forecast Period (2015-2020)
3.6 Porter’s Five Force Analysis
3.6.1 Bargaining Power Of Suppliers
3.6.2 Bargaining Power Of Buyers 
3.6.3 Threat Of Substitutes
3.6.4 Threat Of New Entrants
3.6.5 Industry Rivalry

4 Global Bunker Fuel Market Size, in Value (US$ Bn) & Volume (Mn Tons), By Fuel Grade, 2013-2020
4.1 Overview
4.1.1 Global Bunker Fuel Market Value, by Fuel Grade, 2014 vs. 2020 (US$ Bn)
4.1.2 Attractive Investment Proportion by Fuel Grade
4.3 IFO 380
4.4 IFO 180
4.5 Other IFO (IFO 500 & 700)
4.6 LS 380
4.7 LS 180

5 Global Bunker Fuel Market Size in Value (US$ Bn) & Volume (Mn Tons), By Seller, 2013-2020 
5.1 Overview
5.1.1 Global Bunker Fuel Market Value, by Seller, 2014 vs. 2020 (US$ Bn)
5.1.2 Attractive Investment Proportion, by Seller
5.2 Major Oil Companies
5.3 Leading Independent Distributors
5.4 Small Independent Distributors

6 Global Bunker Fuel Market Size in Value (US$ Bn) & Volume (Mn Tons), By End User, 2013-2020
6.1 Overview
6.1.1 Global Bunker Fuel Market Revenue Share, by End-user, 2014 vs. 2020 (US$ Bn)
6.1.2 Attractive Investment Proportion by End User
6.2 Tanker Vessels
6.3 Container Vessels
6.4 Bulk and General Cargo Vessels
6.5 Others

7 Global Bunker Fuel Market Size in Value (US$ Bn) & Volume (Mn Tons), By Geography, 2013 – 2020 
7.1 Overview
7.1.1 Global Bunker Fuel Market Share Analysis by Geography, 2014 vs 2020 (Value %) 
7.1.2 Attractive Investment Proportion by Geography

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