The global bunker fuel market was valued at $137,215.5 million in 2017 and is expected to reach $273,050.4 million by 2025, registering a CAGR of 9.4% from 2018 to 2025.
The two main bunker fuel classifications in the marine industry are distillates and residual fuel oils. Marine distillates are divided into marine gas oil (MGO) and marine diesel oil (MDO). MGO is used for small and high grade diesel engines and stands out on several types of ships. Residual fuel oil, also called heavy fuel oil (HFO), is the fuel oil of the highest viscosity.
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Companies Profiled in this report includes: namely, BP plc, Exxon Mobil, Royal Dutch Shell plc, Sinopec Group, Gazpromp Neft PJSC, Chevron Corporation, Petroliam Nasional Berhad (Petronas), Total S.A., and Neste.
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The growth of the market is attributed to increased offshore hydrocarbon exploration activities in offshore destinations, especially in Asia-Pacific. Moreover, growth in marine trade is also contributing to overall global market growth due to rise in import-export activities. However, due to stringent government regulations regarding usage of bunker fuel such as residual fuel oil (RFO), which contains pollutants such as sulfur and nitrogen that are capable enough to disturb the marine life cycle will hamper the overall growth of the market. The bunker fuel market is expected to grow exponentially on account of increasing oil and gas exploration activities in emerging oil-producing regions, particularly in the Indo-Pacific region.
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Major Points Covered in Table of Contents:
1 Industry Overview
2 Manufacturing Cost Structure Analysis of Bunker Fuel Industry Market
3 Technical Data and Manufacturing Plants Analysis
4 Production Analyses of Bunker Fuel Industry Market by Regions, Technology, and Applications
5 Sales and Revenue Analysis of Bunker Fuel Industry Market by Regions
6 Analyses of Bunker Fuel Industry Market Production, Supply, Sales and Market Status 2019-2025
7 Analysis of Bunker Fuel Industry Market industry Key Manufacturers
8 Price and Gross Mar Bunker Fuel Industry Analysis
9 Marketing Traders or Distributor Analysis of Bunker Fuel Industry Market
10 Development Trend of Bunker Fuel Industry Market industries 2019-2025
11 Industry Chain Suppliers of Bunker Fuel Industry Market with Contact Information
12 New Project Investment Feasibility Analysis of Bunker Fuel Industry Market
13 Conclusion of the Bunker Fuel Industry industry 2019 Market Research Report
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