Bunker Fuel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

Global bunker fuel market is currently experiencing a phase of robust expansion and transformation, propelled by a multitude of factors reshaping the maritime industry. In this press release, we delve into the prevailing trends, obstacles, and prospects that are sculpting the market landscape, offering insights into its dynamic evolution.

Driving Forces:

One of the primary drivers propelling the growth of the Global bunker fuel market is the escalation in hydrogen resource development activities in offshore regions, coupled with escalating demands from both crude oil and product tankers. Despite these positive indicators, the industry faces challenges stemming from fuel reduction initiatives and the emergence of LNG fuel technology, which are exerting transformative influences on its trajectory.

Dominant Segment: Other IFO:

Within the market, the "Other IFO" segment, encompassing intermediate fuel oils beyond IFO 380 and IFO 180, emerges as a dominant force. With its demand on the rise, this segment is forecasted to attain the highest compound annual growth rate (CAGR) among all segments. This growth trajectory underscores the dynamic nature of the industry, emphasizing the imperative of adaptability and innovation to stay abreast of evolving trends.

Challenges for IFO 180:

Conversely, the IFO 180 segment confronts challenges ahead. Once at the forefront of the market, this segment now faces turbulent waters, with a potential decline in market value looming on the horizon. Stringent emission regulations, particularly concerning sulfur emissions, present a significant hurdle for this segment as shipping companies increasingly seek greener alternatives with lower sulfur content.

Key Players:

Leading entities within the industry, such as ExxonMobil Corporation, Total S.A., and Royal Dutch Shell plc., are navigating these currents with strategic foresight and agility. Their steadfast commitment to research and development, combined with a dedicated focus on sustainability, positions them as frontrunners in an ever-evolving landscape, driving innovation and progress.

Market Segmentation:

Market segmentation serves as a guiding compass, offering stakeholders clarity amidst the intricate currents of the bunker fuel market. Through categorizations based on types such as IFO 380, IFO 180, Other IFO, and MGO/MDO, as well as end-use classifications encompassing containers, bulk carriers, tankers, and more, segmentation facilitates a nuanced understanding of demand and supply dynamics, aiding in informed decision-making.

Regional Dynamics:

Geographically, the market spans across diverse regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa, each contributing to the market's multifaceted ecosystem. Recognizing and comprehending regional nuances and dynamics are paramount for companies aiming to chart a course for success in this interconnected marketplace, fostering adaptability and resilience.

1. Executive Summary

1.1. Global Bunker Fuel Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Bunker Fuel Market Outlook, 2018 - 2031

3.1. Global Bunker Fuel Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. High Sulfur Fuel Oil
  - 3.1.1.2. Low Sulfur Fuel Oil
  - 3.1.1.3. Marine Gasoil
  - 3.1.1.4. Others
3.2. Global Bunker Fuel Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Container
  - 3.2.1.2. Bulk Carrier
  - 3.2.1.3. Oil Tanker
  - 3.2.1.4. General Cargo
  - 3.2.1.5. Chemical Tanker
  - 3.2.1.6. Fishing Vessels
  - 3.2.1.7. Gas Tanker
  - 3.2.1.8. Others
3.3. Global Bunker Fuel Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Bunker Fuel Market Outlook, 2018 - 2031

4.1. North America Bunker Fuel Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. High Sulfur Fuel Oil
  - 4.1.1.2. Low Sulfur Fuel Oil
  - 4.1.1.3. Marine Gasoil
  - 4.1.1.4. Others
4.2. North America Bunker Fuel Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Bulk Carrier
  - 4.2.1.2. Oil Tanker
  - 4.2.1.3. General Cargo
  - 4.2.1.4. Chemical Tanker
  - 4.2.1.5. Fishing Vessels
  - 4.2.1.6. Gas Tanker
  - 4.2.1.7. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Bunker Fuel Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.2. U.S. Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.3. Canada Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.4. Canada Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Bunker Fuel Market Outlook, 2018 - 2031

5.1. Europe Bunker Fuel Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. High Sulfur Fuel Oil
  - 5.1.1.2. Low Sulfur Fuel Oil
  - 5.1.1.3. Marine Gasoil
  - 5.1.1.4. Others
5.2. Europe Bunker Fuel Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Bulk Carrier
  - 5.2.1.2. Oil Tanker
  - 5.2.1.3. General Cargo
  - 5.2.1.4. Chemical Tanker
  - 5.2.1.5. Fishing Vessels
  - 5.2.1.6. Gas Tanker
  - 5.2.1.7. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Bunker Fuel Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.2. Germany Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.3. U.K. Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.4. U.K. Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.5. France Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.6. France Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.7. Italy Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.8. Italy Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.9. Turkey Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.10. Turkey Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.11. Russia Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.12. Russia Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.13. Rest of Europe Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.14. Rest of Europe Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Bunker Fuel Market Outlook, 2018 - 2031

6.1. Asia Pacific Bunker Fuel Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. High Sulfur Fuel Oil
  - 6.1.1.2. Low Sulfur Fuel Oil
  - 6.1.1.3. Marine Gasoil
  - 6.1.1.4. Others
6.2. Asia Pacific Bunker Fuel Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Bulk Carrier
  - 6.2.1.2. Oil Tanker
  - 6.2.1.3. General Cargo
  - 6.2.1.4. Chemical Tanker
  - 6.2.1.5. Fishing Vessels
  - 6.2.1.6. Gas Tanker
  - 6.2.1.7. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Bunker Fuel Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.2. China Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.3. Japan Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.4. Japan Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.5. South Korea Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.6. South Korea Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.7. India Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.8. India Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.9. Southeast Asia Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.10. Southeast Asia Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Bunker Fuel Market Outlook, 2018 - 2031

7.1. Latin America Bunker Fuel Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. High Sulfur Fuel Oil
  - 7.1.1.2. Low Sulfur Fuel Oil
  - 7.1.1.3. Marine Gasoil
  - 7.1.1.4. Others
7.2. Latin America Bunker Fuel Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Bunker Fuel Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.2. Brazil Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.3. Mexico Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.4. Mexico Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.5. Argentina Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.6. Argentina Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Bunker Fuel Market Outlook, 2018 - 2031

8.1. Middle East & Africa Bunker Fuel Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. High Sulfur Fuel Oil
  - 8.1.1.2. Low Sulfur Fuel Oil
  - 8.1.1.3. Marine Gasoil
  - 8.1.1.4. Others
8.2. Middle East & Africa Bunker Fuel Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Bulk Carrier
  - 8.2.1.2. Oil Tanker
  - 8.2.1.3. General Cargo
  - 8.2.1.4. Chemical Tanker
  - 8.2.1.5. Fishing Vessels
  - 8.2.1.6. Gas Tanker
  - 8.2.1.7. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Bunker Fuel Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.2. GCC Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.3. South Africa Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.4. South Africa Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.5. Egypt Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.6. Egypt Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.7. Nigeria Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.8. Nigeria Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Bunker Fuel Market by Product Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Bunker Fuel Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by Application Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Chemoil Energy Limited
  - 9.4.1.1.Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Aegean Marine Petroleum Network, Inc.
- 9.4.3. World Fuel Services Corporation
- 9.4.4. Gulf Agency Company Ltd.
- 9.4.5. Gazpromneft Marine Bunker LLC
- 9.4.6. BP Marine Ltd.
- 9.4.7. Exxon Mobil Corporation
- 9.4.8. Shell plc.
- 9.4.9. Bunker HBning A/S

10. Appendix

10.1.Research Methodology
10.2.Report Assumptions
10.3.Acronyms and Abbreviations

List of Region/Countries

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Turkey
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa