Bunker Fuel Market by Type (Residential fuel oil(RFO), Marine gas oil(MGO)), by commercial distributor ( Large independent, Small independent, Oil majors), by end user (Oil tanker, Chemical tanker, Fishing, Gas tanker, Container, Bulk carrier and others), By industry Competitive Market Share & Forecast, 2021 – 2027

ID: VPR/E&P/151 Publishing Year: January 2021 Pages: 253 Format:   

Global Bunker Fuel Market was valued at $XX million in 2019, and is expected to reach $XX million in 2027, and register a CAGR of XX%, during the forecast period, 2021- 2027.

Bunker Fuel is any fuel used onboard a ship. The most usually used sort is residual Fuel Bunker or Bunker C. Grades of Bunker fuel Bunker A - Gas-oil vary Bunker Fuel, generally referred to as marine diesel or marine gas oil Bunker B - Low-viscosity holiday petroleum vary Bunker Fuel. Generally cut with some lighter material (VGO) to scale back consistence to the purpose that it'll flow while not heating Bunker C - the foremost common sort of bunker. Composed primarily of holiday petroleum vary the material, with a high consistency that needs heating so as to pump. Generally sold at many consistency specifications: a hundred and eighty v, 380 centistokes, or 460 centistokes, with 380 being the foremost common grade. The viscosities are measured at 50C, the everyday heated temperature of the fuel, In addition, the Bunker Fuel which may be employed in the Sulfur Emissions management Areas (SECAs) should have the most sulfur content of zero.1%, which needs either exploitation Bunker A or a radical Low Sulfur fuel (ULSFO).
The two major Bunker Fuel classifications within the marine industry are distillates and residual fuel oils. Marine distillates are divided into marine fuel oil (MGO) and marine diesel fuel (MDO). MGO is used in small and highly rated diesel engines, which are prominently found in many types of ships. Residual fuel oil, also known as heavy fuel oil (HFO), is the highest viscosity fuel oil. The growth of the market is attributed to increased offshore organic compound exploration activities in offshore destinations, particularly in Asia-Pacific. Moreover, growth in marine trade is additionally causative to overall world market growth thanks to rise in import-export activities. However, thanks to demanding government rules relating to usage of bunker fuel like residual heating oil (RFO), that contains pollutants like sulfur and element that are capable enough to disturb the marine life cycle can hamper the growth of the market. The Bunker Fuel Market is predicted to grow exponentially on account of skyrocketing oil and gas exploration activities in rising oil-producing regions, significantly within the Indo-Pacific region. Additionally , oil-producing regions have unknown reserves, that are adequate to satisfy the growing energy demand. Consequently, exploration of those untapped reserves is predicted to absolutely have an effect on the demand for shipping vessels. This, in turn, is predicted to supply moneymaking growth opportunities for the market over the forecast amount.

By Type:

Based on sort, the market is classed into MGO and RFO. The MGO phase generated highest revenue throughout the forecast amount, and is anticipated to keep up its dominance throughout the forecast amount. this can be attributed to its low sulfur contents as compared to residual oil, that contains high volume of contaminants together with sulfur. Thus, the demand for MGO is high as compared to residual oil.

  • Residual Fuel Oil (RFO)
  • Marine Gas Oil (MGO)

By Commercial Distributor:

Based on the business distributor, the market is categorized into oil majors, massive freelance, and little freelance. The oil majors section accounted for the most important share and is anticipated to continue its dominance throughout the projected amount. this can be attributed to the actual fact that oil majors comprise world’s major publically listed oil and gas corporations, that not solely distributes bunker fuels however conjointly carries out the extraction and purification operations.

  • Large independent
  •  Small independent
  •  Oil majors

By End-User:

Based on the top user, the market is assessed into instrumentality, bulk carrier, oil tanker, general freight, chemical tanker, fishing, gas tanker. Among all, instrumentality is that the dominating section that no inheritable largest share in 2017. when instrumentality, tank ship and gas tanker segments area unit the dominant finish users, this is often expected to extend in organic compound resource development activities across the planet.

  • Oil tanker
  •  Chemical tanker
  •  Fishing
  • Gas tanker
  •  Container
  •  Bulk carrier
  • Others

By region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia-Pacific
    • Brazil
    • Argentina
    • Turkey
    • South Africa
    • Rest of LAMEA

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