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Press Release:

Global Bunker Fuel Market to Witness Moderate Growth During 2020-2025, Spurred by the Rising Seaborne Trade Activities

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Bunker Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global bunker fuel market reached a value of US$ 123.9 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 155.2 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Bunker fuel, also known as a marine fuel, is a heavy, residual oil used to power the motors or engines of the marine fleet. It is obtained after extracting gasoline, diesel and other light hydrocarbons from crude oil during the fractional distillation in refineries. It is a viscous liquid with a characteristic odor that contains high sulfur content and can be reduced using different processes. The small quantity of lighter fuel, such as diesel, is also mixed to make it less thick.

Rapid globalization, along with the escalating demand for international seaborne trade, has increased export and import activities worldwide. This represents one of the major factors bolstering the market growth. Apart from this, the rising oil and gas exploration activities in deep offshore areas are acting as another major growth-inducing factor. Furthermore, as vessels have a large load-bearing capacity compared to other transportation modes, there is an increase in the demand for bunker oil to refuel vessels during sailing. Moreover, governments of several countries are focusing on strengthening geographical border security, which is increasing the number of naval fleets and contributing to the market growth. Besides this, with the growing environmental concerns, market players are investing in research and development (R&D) projects to develop clean, eco-friendly fuels. However, the market has been adversely impacted due to the outbreak of the coronavirus disease (COVID-19) and consequent lockdowns imposed by governments of several countries, which has restricted sea trade activities across the globe. The market is expected to regain growth as normaly is regained.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bunker fuel market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on fuel type, vessel type and seller.

Breakup by Fuel Type:

  • High Sulfur Fuel Oil (HSFO)
  • Very Low Sulfur Fuel Oil (VLSFO)
  • Marine Diesel Oil (MDO)
  • Liquefied Natural Gas (LNG)
     

Breakup by Vessel Type:

  • Containers
  • Tankers
  • General Cargo
  • Bulk Carrier
  • Others
     

Breakup by Seller:

  • Major Oil Companies
  • Leading Independent Sellers
  • Small Independent Sellers
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG), BP Plc, Chevron Corporation, Exxon Mobil Corporation, Gazprom Neft PJSC (Gazprom), LUKOIL, Neste Oyj, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell Plc and TOTAL S.A.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Fuel Type, Vessel Type, Seller, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG), BP Plc, Chevron Corporation, Exxon Mobil Corporation, Gazprom Neft PJSC (Gazprom), LUKOIL, Neste Oyj, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell Plc and TOTAL S.A.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Bunker Fuel Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Fuel Type
    6.1    High Sulfur Fuel Oil (HSFO)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Very Low Sulfur Fuel Oil (VLSFO)
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Marine Diesel Oil (MDO)
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Liquefied Natural Gas (LNG)
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Vessel Type
    7.1    Containers
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Tankers
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    General Cargo
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Bulk Carrier
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8    Market Breakup by Seller
    8.1    Major Oil Companies
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Leading Independent Sellers
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Small Independent Sellers
        8.3.1 Market Trends
        8.3.2 Market Forecast 
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG)
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    BP Plc
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials 
           14.3.2.4 SWOT Analysis
        14.3.3    Chevron Corporation
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Exxon Mobil Corporation
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials 
           14.3.4.4 SWOT Analysis
        14.3.5    Gazprom Neft PJSC (Gazprom)
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    LUKOIL
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Neste Oyj
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Petroliam Nasional Berhad (PETRONAS)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 SWOT Analysis
        14.3.9    Royal Dutch Shell Plc
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
        14.3.10    TOTAL S.A.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
 
List of Figures

Figure 1: Global: Bunker Fuel Market: Major Drivers and Challenges
Figure 2: Global: Bunker Fuel Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Bunker Fuel Market: Breakup by Fuel Type (in %), 2020
Figure 4: Global: Bunker Fuel Market: Breakup by Vessel Type (in %), 2020
Figure 5: Global: Bunker Fuel Market: Breakup by Seller (in %), 2020
Figure 6: Global: Bunker Fuel Market: Breakup by Region (in %), 2020
Figure 7: Global: Bunker Fuel Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: Bunker Fuel (High Sulfur Fuel Oil- HSFO) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: Bunker Fuel (High Sulfur Fuel Oil- HSFO) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: Bunker Fuel (Very Low Sulfur Fuel Oil- VLSFO) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Bunker Fuel (Very Low Sulfur Fuel Oil- VLSFO) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Bunker Fuel (Marine Diesel Oil- MDO) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Bunker Fuel (Marine Diesel Oil- MDO) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Bunker Fuel (Liquefied Natural Gas- LNG) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Bunker Fuel (Liquefied Natural Gas- LNG) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Bunker Fuel (Containers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Bunker Fuel (Containers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Bunker Fuel (Tankers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Bunker Fuel (Tankers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Bunker Fuel (General Cargo) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Bunker Fuel (General Cargo) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Bunker Fuel (Bulk Carrier) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Bunker Fuel (Bulk Carrier) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Bunker Fuel (Other Vessel Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Bunker Fuel (Other Vessel Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Bunker Fuel (Major Oil Companies) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Bunker Fuel (Major Oil Companies) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Bunker Fuel (Leading Independent Sellers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Bunker Fuel (Leading Independent Sellers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Bunker Fuel (Small Independent Sellers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Bunker Fuel (Small Independent Sellers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: North America: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: North America: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: United States: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: United States: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Canada: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Canada: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Asia Pacific: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Asia Pacific: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: China: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 41 China: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Japan: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Japan: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: India: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: India: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: South Korea: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: South Korea: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Australia: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Australia: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Indonesia: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Indonesia: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Others: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Others: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Europe: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Europe: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Germany: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Germany: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: France: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: France: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: United Kingdom: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: United Kingdom: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: Italy: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: Italy: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: Spain: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: Spain: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Russia: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Russia: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Others: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Others: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Latin America: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Latin America: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Brazil: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Brazil: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Mexico: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Mexico: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Others: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Others: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Middle East and Africa: Bunker Fuel Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: Middle East and Africa: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Global: Bunker Fuel Industry: SWOT Analysis
Figure 81: Global: Bunker Fuel Industry: Value Chain Analysis
Figure 82: Global: Bunker Fuel Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Bunker Fuel Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Bunker Fuel Market Forecast: Breakup by Fuel Type (in Million US$), 2021-2026
Table 3: Global: Bunker Fuel Market Forecast: Breakup by Vessel Type (in Million US$), 2021-2026
Table 4: Global: Bunker Fuel Market Forecast: Breakup by Seller (in Million US$), 2021-2026
Table 5: Global: Bunker Fuel Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Bunker Fuel Market Structure
Table 7: Global: Bunker Fuel Market: Key Players

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Key Question Answered in this Report

The global bunker fuel market was valued at US$ 123.9 Billion in 2020.

The increasing number of seaborne trade activities due to elevating levels of globalization represents one of the key factors driving the global bunker fuel market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary restriction on sea trade activities, thereby hampering the global bunker fuel market.

Based on the fuel type, the global bunker fuel market has been bifurcated into high sulfur fuel oil (HSFO), very low sulfur fuel oil (VLSFO), marine diesel oil (MDO), and liquefied natural gas (LNG). Among these, high sulfur fuel oil (HSFO) holds the largest market share.

Based on the vessel type, the global bunker fuel market can be categorized into containers, tankers, general cargo, bulk carrier, and others. Currently, container exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global bunker fuel market include Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG), BP Plc, Chevron Corporation, Exxon Mobil Corporation, Gazprom Neft PJSC (Gazprom), LUKOIL, Neste Oyj, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell Plc, and TOTAL S.A.

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