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The Global Bunker Fuel Market is expected to grow from $98,111.00 million in 2016 to reach $1,47,008.89 million by 2023 with a CAGR of 5.9%. Growing demand in oil & gas sector for offshore exploration and extraction activities, raise in ocean-borne field and increasing support from government are some of the key factors propelling the market growth. However, policies like fuel reduction and replacement of fuel by LNG are the major factors restricting the market size.
Based on the end user, container vessels segment is estimated to lead the market during the forecast period as the container vessels require less manpower than cargo vessels. The European region is witnessing high growth rate due to existence of busiest trade routes and choke points in the region.
Some of the key players in Global Bunker Fuel Market include Royal Dutch Shell Plc, KPI Bridge Oil A/S, Gazpromneft Marine Bunker LLC, GAC Bunker Fuels Ltd, Exxon Mobil Corporation, Chemoil Energy Limited, Bunker Holding A/S, BP PLC, Bomin Bunker Oil Corp, Aegean Marine Petroleum Network, Inc., Lukoil-Bunker LLC and World Fuel Services Corporation.
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End Users Covered:
Other End Users
Residual Fuel Oil
Fuel Grades Covered:
Marine Diesel Oil (or) Marine Gas Oil(MDO/MGO)
Intermediate Fuel Oil (IFO) 180
Intermediate Fuel Oil (IFO) 380
Intermediate Fuel Oil (IFO) 500
Intermediate Fuel Oil (IFO) 700
Low Sulfur (LS) 380
Low Sulfur (LS) 180
Commercial distributors Covered:
Major Oil Companies
Rest of Europe
Rest of Asia Pacific
Rest of the World
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