Market Overview:
The global bunker fuel market reached a value of US$ 140.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 203.7 Billion by 2027, exhibiting a CAGR of 6.3% during 2022-2027. 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, along with forecasts at the global, regional and country level from 2022-2027. 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
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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 |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| 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$ 2499
Five User License: US$ 3499
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$), 2016-2021
Figure 3: Global: Bunker Fuel Market: Breakup by Fuel Type (in %), 2021
Figure 4: Global: Bunker Fuel Market: Breakup by Vessel Type (in %), 2021
Figure 5: Global: Bunker Fuel Market: Breakup by Seller (in %), 2021
Figure 6: Global: Bunker Fuel Market: Breakup by Region (in %), 2021
Figure 7: Global: Bunker Fuel Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 8: Global: Bunker Fuel (High Sulfur Fuel Oil- HSFO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Bunker Fuel (High Sulfur Fuel Oil- HSFO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Bunker Fuel (Very Low Sulfur Fuel Oil- VLSFO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Bunker Fuel (Very Low Sulfur Fuel Oil- VLSFO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Bunker Fuel (Marine Diesel Oil- MDO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Bunker Fuel (Marine Diesel Oil- MDO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Bunker Fuel (Liquefied Natural Gas- LNG) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Bunker Fuel (Liquefied Natural Gas- LNG) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Bunker Fuel (Containers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Bunker Fuel (Containers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Bunker Fuel (Tankers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Bunker Fuel (Tankers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Bunker Fuel (General Cargo) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Bunker Fuel (General Cargo) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Bunker Fuel (Bulk Carrier) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Bunker Fuel (Bulk Carrier) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Bunker Fuel (Other Vessel Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Bunker Fuel (Other Vessel Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Bunker Fuel (Major Oil Companies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Bunker Fuel (Major Oil Companies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Bunker Fuel (Leading Independent Sellers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Bunker Fuel (Leading Independent Sellers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Bunker Fuel (Small Independent Sellers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Bunker Fuel (Small Independent Sellers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: North America: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Canada: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Canada: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia Pacific: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Asia Pacific: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: China: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 41 China: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Japan: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Japan: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: India: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: India: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: South Korea: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: South Korea: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Australia: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Australia: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Indonesia: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Indonesia: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Others: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Others: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Europe: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Germany: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Germany: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: France: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: France: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United Kingdom: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United Kingdom: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Italy: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Italy: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Spain: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Spain: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Russia: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Russia: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Latin America: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Brazil: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Brazil: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Mexico: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Mexico: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Others: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Others: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: Bunker Fuel Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: Bunker Fuel Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Bunker Fuel Market Forecast: Breakup by Fuel Type (in Million US$), 2022-2027
Table 3: Global: Bunker Fuel Market Forecast: Breakup by Vessel Type (in Million US$), 2022-2027
Table 4: Global: Bunker Fuel Market Forecast: Breakup by Seller (in Million US$), 2022-2027
Table 5: Global: Bunker Fuel Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Bunker Fuel Market Structure
Table 7: Global: Bunker Fuel Market: Key Players