Global Bunker Fuel Market 2024-2028
The bunker fuel market is forecasted to grow by USD 30.1 bn during 2023-2028, accelerating at a CAGR of 4.18% during the forecast period. The report on the bunker fuel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing naval expenditure, increase in global seaborne trade, and growth of the shipping industry.
Technavio's bunker fuel market is segmented as below:
By Type
By Application
- Container
- Bulk carrier
- Oil tanker
- General cargo
- Chemical tanker
By Geographical Landscape
- APAC
- Europe
- Middle East and Africa
- North America
- South America
This study identifies the growing lng market as one of the prime reasons driving the bunker fuel market growth during the next few years. Also, development of emulsified fuels and need for new refineries to comply with new IMO regulations will lead to sizable demand in the market.
The report on the bunker fuel market covers the following areas:
- Bunker fuel market sizing
- Bunker fuel market forecast
- Bunker fuel market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bunker fuel market vendors that include BP Plc, Chevron Corp., Eni SpA, Exxon Mobil Corp., Gulf Agency Co. Ltd., Indian Oil Corp. Ltd., Marathon Petroleum Corp., Marquard and Bahls AG, Neste Corp., PETRONAS Chemicals Group Berhad, PJSC LUKOIL, Rosneft Oil Co., Saudi Arabian Oil Co., Shell plc, and TotalEnergies SE. Also, the bunker fuel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.