Global Bunker Oil Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Bunker Oil Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Bunker Oil market size was valued at USD 410 million in 2023 and is forecast to a readjusted size of USD 536.8 million by 2030 with a CAGR of 3.9% during review period.

Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42 °C (108 °F) and oils burned in cotton or wool-wick burners. Fuel oil is made of long hydrocarbon chains, particularly alkanes, cycloalkanes and aromatics.

The continuously increasing naval expenditure is impacting the market positively. The governments across the globe are increasing their spending to raise the defense capacities of their countries to combat external threats pertaining to security issues. The global military expenditure is likely to increase considerably over the next few years. As a result, the spending will directly reflect the growth of the bunker oil market during the forecast period. Various countries including China, Russia, India, Saudi Arabia, the US, and other countries such as Indonesia and South Korea have increased their military spending substantially over the past few years. This will eventually lead to the growth of the bunker oil market during the forecast period.

The Global Info Research report includes an overview of the development of the Bunker Oil industry chain, the market status of Container Vessels (Residual Fuel, Distillate Fuel), Tanker Vessels (Residual Fuel, Distillate Fuel), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Bunker Oil.

Regionally, the report analyzes the Bunker Oil markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Bunker Oil market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Bunker Oil market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Bunker Oil industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K MT), revenue generated, and market share of different by Type (e.g., Residual Fuel, Distillate Fuel).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Bunker Oil market.

Regional Analysis: The report involves examining the Bunker Oil market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Bunker Oil market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Bunker Oil:

Company Analysis: Report covers individual Bunker Oil manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Bunker Oil This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Container Vessels, Tanker Vessels).

Technology Analysis: Report covers specific technologies relevant to Bunker Oil. It assesses the current state, advancements, and potential future developments in Bunker Oil areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Bunker Oil market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Bunker Oil market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
Residual Fuel
Distillate Fuel

Market segment by Application
Container Vessels
Tanker Vessels
Bulk & General Cargo Vessels

Major players covered
BP
Chevron
Exxon Mobil
Gazprom
HPCL
Royal Dutch Shell

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Bunker Oil product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Bunker Oil, with price, sales, revenue and global market share of Bunker Oil from 2019 to 2024.

Chapter 3, the Bunker Oil competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Bunker Oil breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Bunker Oil market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Bunker Oil.

Chapter 14 and 15, to describe Bunker Oil sales channel, distributors, customers, research findings and conclusion.