Bunker Fuel Market report provides emerging market drivers, challenges, opportunities for Bunker Fuel Industry. It focuses on the latest trends and recent developments of Bunker Fuel Industry. Bunker Fuel market report will help you to know each and every fact of keyword industry. Bunker Fuel market also covers growth potential, market size, demand by buyer and suppliers and forecast details.
Bunker Fuel Market is expected to grow at a CAGR of XX% during the forecast period.
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The bunker market is poised for growth in near future riding on surging demand from shipping industry and oil & gas sector. The shipping industry is witnessing massive growth due to increasing trade via sea routes across the world. The bunker fuels are used by shipping corporations to fuel fleets. The growth in usage of sea vessels augments the demand for fuel which is a big boost for bunker fuel market. Apart from shipping industry, oil & gas sector is providing huge impetus to bunker fuel market across the world. The energy requirements to meet the offshore exploration and production activities are met through bunker fuels. As the oil & gas offshore activities are poised for huge growth in near future the demand for bunker fuel is anticipated to surge.
The bunker fuel market is categorized according to fuel grade and application. The various types of bunker fuel grade include Intermediate Fuel Oil (IFO) 180, Intermediate Fuel Oil (IFO) 380, Intermediate Fuel Oil (IFO) 500, Intermediate Fuel Oil (IFO) 700, MDO/MGO, Low Sulfur (LS) 380 and Low Sulfur (LS) 180. The applications involve Containers, Tankers, General Cargo, Bulk Carrier, and Others.
Rising Offshore Exploration & Production (E&P) Activity – Drives the Bunker Fuel Market
To meet the expected oil demand in the future, opportunities lie in offshore deep-sea beds, where oil & gas operators continue to discover new reserves. Globally, very few onshore regions are left yet to be explored by oil companies. Offshore explorations represent risks associated with extreme weather, higher costs of exploration than onshore operations, safety hazards and so on. However, if new sources of oil are to be found, they most certainly exist in the sea, waiting to be explored. Many regions around the world have begun offshore explorations in order to exploit their fair share of natural resources and to kick start their economy, which, in turn provides a huge impetus to bunker fuel market.
Asia-Pacific to Dominate the Bunker Fuel Market Share
Asia-Pacific is witnessing huge economic growth and the countries in the region are focusing economic cooperation by getting into trade agreements across the world. Such developments lead to surge in trade activities and import-export between nations which results in growth in transport of commodities via sea routes which in turn promulgates the demand for bunker fuel. The oil & gas offshore activities in Asia-pacific countries is also witnessing growth with policy level focus on driving the offshore sector. Thus, the growing end-user industries in Asia Pacific makes it a major geographical market for bunker fuel.
Key Developments in the Bunker Fuel Market
June 2018: ExxonMobil announced that it is progressing on a multi-billion dollar project to produce higher value products and expand lubricant base stocks production at its integrated manufacturing facility in Singapore.
Bunker Fuel Market Major Players
Exxon Mobil Corporation
Royal Dutch Shell Plc
Gazpromneft Marine Bunker LLC
KPI Bridge Oil A/S
Chemoil Energy Limited
Bunker Holding A/S
Gac Bunker Fuels Ltd
Bomin Bunker Oil Corp
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Global Bunker Fuel Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2013-2023):
- North America: United States, Canada and Mexico
- Europe: Germany, UK, France, Italy, Russia, Spain and Benelux
- Asia Pacific: China, Japan, India, Southeast Asia and Australia
- Latin America: Brazil, Argentina and Colombia
- Middle East and Africa: Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Bunker Fuel Market Dynamics
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Bunker Fuel Market Covers Following Points in TOC:
Chapter 1: Bunker Fuel Market Definition
Chapter 2: Research Methodology of Bunker Fuel Market
Chapter 3: Bunker Fuel Market Executive Summary
Chapter 4: Bunker Fuel Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
Chapter 6: Bunker Fuel Market Segmentation by Types, End-User, and Applications Forecast to 2023
Chapter 7: Bunker Fuel Market Segmentation by Geographical Regions
Chapter 8: Competitive Landscape of Bunker Fuel Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
Chapter 9: Key Players for Bunker Fuel Market
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