As per this study the Global Bunker Fuel Market was valued USD 125.4 BN (by revenue) in 2018 and is anticipated to reach USD 170 BN by 2025 with a CAGR of 4.5%.
 
Bunker fuel is the fuel oil/gas which is delivered to ships of all nations that are involved in international navigation. Bunker fuel can be classified into distillates and residual fuel oils. Marine distillates are further divided into marine gas oil (MGO) and marine diesel oil (MDO). Among which, marine gas oils are used in very small and highly rated diesel engines, which are found in many types of ships. Residual fuel oil is also known as heavy fuel oil (HFO), which has the highest viscosity among oil fuel. Intermediate fuel oils, IFO180, and IFO380 are some of the most commonly used heavy fuel oil at sea.
 
Objectives of the Study:

• Define and measure the global bunker fuel market
• Revenue forecast of the global bunker fuel market and its various sub-segments with respect to main geographies
• Analyze and identify major market trends along with the factors driving or inhibiting the market growth
• Study the company profiles of the major market players with their market share
• Analyze competitive developments

 
Market Dynamics
 
The bunker fuel market is projected to experience robust growth in the near future owing to the surging demand from the shipping industry and the oil & gas sector. The shipping industry is witnessing massive growth owing to increasing sea trade across the globe. Also, rising usage of sea vessels along with the rising demand from the shipping industry, oil & gas sector is providing a huge impetus growth to bunker fuel market. Rising offshore exploration and production activities which takes place through bunker fuels is further augmenting the market growth.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of bunker fuel.
 
Market Segmentation
 
The broad bunker fuel market has been sub-grouped into grade, type, distributor and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
 
By Grade

• MGO/MDO
• LSFO
• HFO

 
By Type

• Bunker A
• Bunker B
• Bunker C

 
By Distributor

• Major Companies
• Small Independent
• Large Independent

 
By End-User

• Tanker Fleet
• Container Fleet
• Bulk and General Cargo Fleet
• Others

 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for bunker fuel in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Europe Bunker Fuel Market By Revenue (USD MN)
 

 
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the bunker fuel market includes Aegean Marine Petroleum Network, Inc., Bomin Bunker Oil Corp., BP PLC, Bunker Holding A/S, Chemoil Energy Limited, Exxon Mobil Corporation, GAC Bunker Fuels Ltd., Gazpromneft Marine Bunker LLC, KPI Bridge Oil A/S, Lukoil-Bunker LLC, Royal Dutch Shell Plc, and World Fuel Services Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
 
 
METHODOLOGY:
 
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.