Bunker Fuel Market by Type and Geography - Forecast and Analysis 2020-2024

Global Bunker Fuel Market

About this market

Technavio’s bunker fuel market analysis considers sales from high sulfur fuel and low sulfur fuel types. Our study also finds the sales of bunker fuel in APAC, Europe, MEA, North America, and South America. In 2019, the low sulfur fuel segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the implementation of MARPOL regulations which is restricting the use of fuels with a sulfur content more than 0.5% will play a significant role in the low sulfur fuel segment to maintain its market position. Also, our global bunker fuel market report looks at factors such as the increasing global volume of seaborne trade, expansion of marine fleets, and increasing global refining capacity. However, implementation of MARPOL regulations, fluctuations in the cost of crude oil, and increasing adoption of slow steaming may hamper the growth of the bunker fuel industry over the forecast period.

Global Bunker Fuel Market

Overview

Increasing global volume of seaborne trade

Seaborne transportation is a key part of globalization. It enables international trade, supports supply chains, and plays a crucial role in cross-border transportation. Seaborne transportation nurtures industrial development, as it supports the growth of manufacturing, brings together customers and industries, and promotes the integration of economies and trade between regions. The global volume of seaborne trade grew by more than 15% between 2013 and 2018. It is expected to grow further owing to the growth of the global GDP. An increase in disposable income in developing economies has resulted in a rise in their contribution to the growth in the global volume of seaborne trade. This increasing global volume of seaborne trade will lead to the expansion of the global bunker fuel market at a CAGR of over 7% during the forecast period.

Development of scrubber technology

The emission of sulfur must be reduced to comply with the stringent norms related to emissions. Reducing sulfur emissions is a major challenge for the shipping industry, as it requires certain changes. A short-term solution that can help reduce the emission of sulfur is the use of marine scrubbers. Marine scrubbers are exhaust gas cleaning technologies that are used to remove most sulfur oxides and particulate matter from the exhaust gases released by vessels. Several marine scrubber companies are collaborating within the value chain to improve the technology and simplify installation. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global bunker fuel market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global bunker fuel market is fragmented. Technavio’s 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 manufacturers, that include BP Plc, Chevron Corp., Exxon Mobil Corp., Indian Oil Corp. Ltd., Ocean Bunkering Services (Pte.) Ltd., PetroChina Co. Ltd., Qatar Petroleum, Rosneft Oil Co., Royal Dutch Shell Plc, and TOTAL SA.

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 on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global oil and gas downstream market
      • Table Segments of global oil and gas downstream market
    • Market characteristics
      • Table Market characteristics
    • Value chain analysis
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Vendor- Key offerings
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2019
      • Table Market size 2019
    • Market outlook
    • Market size and forecast 2019-2024
      • Table Global market: Size and forecast 2019-2024 ($ millions)
      • Table Global market: Year-over-year growth 2020-2024 (%)
  • Five forces analysis
    • Table Five forces analysis 2019
    • Table Five forces analysis 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market segmentation by type
    • Table Type - Market share 2019-2024 (%)
    • Comparison by type
      • Table Comparison by type
    • High sulfur fuel - Market size and forecast 2019-2024
      • Table High sulfur fuel - Market size and forecast 2019-2024 ($ millions)
      • Table High sulfur fuel - Year-over-year growth 2020-2024 (%)
    • Low sulfur fuel - Market size and forecast 2019-2024
      • Table Low sulfur fuel - Market size and forecast 2019-2024 ($ millions)
      • Table Low sulfur fuel - Year-over-year growth 2020-2024 (%)
    • Market opportunity by type
      • Table Market opportunity by type
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 ($ millions)
      • Table APAC - Year-over-year growth 2020-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 ($ millions)
      • Table Europe - Year-over-year growth 2020-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 ($ millions)
      • Table MEA - Year-over-year growth 2020-2024 (%)
    • North America - Market size and forecast 2019-2024
      • Table North America - Market size and forecast 2019-2024 ($ millions)
      • Table North America - Year-over-year growth 2020-2024 (%)
    • South America - Market size and forecast 2019-2024
      • Table South America - Market size and forecast 2019-2024 ($ millions)
      • Table South America - Year-over-year growth 2020-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision Framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Development of scrubber technology
    • Development of emulsified fuels
    • Adoption of modular mini refineries
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • BP Plc
      • Table BP Plc - Vendor overview
      • Table BP Plc - Business segments
      • Table BP Plc - Organizational developments
      • Table BP Plc - Geographic focus
      • Table BP Plc - Segment focus
      • Table BP Plc - Key offerings
    • Chevron Corp.
      • Table Chevron Corp. - Vendor overview
      • Table Chevron Corp. - Business segments
      • Table Chevron Corp. - Organizational developments
      • Table Chevron Corp. - Geographic focus
      • Table Chevron Corp. - Segment focus
      • Table Chevron Corp. - Key offerings
    • Exxon Mobil Corp.
      • Table Exxon Mobil Corp. - Vendor overview
      • Table Exxon Mobil Corp. - Business segments
      • Table Exxon Mobil Corp. - Organizational developments
      • Table Exxon Mobil Corp. - Geographic focus
      • Table Exxon Mobil Corp. - Segment focus
      • Table Exxon Mobil Corp. - Key offerings
    • Indian Oil Corp. Ltd.
      • Table Indian Oil Corp. Ltd. - Vendor overview
      • Table Indian Oil Corp. Ltd. - Business segments
      • Table Indian Oil Corp. Ltd. - Organizational developments
      • Table Indian Oil Corp. Ltd. - Geographic focus
      • Table Indian Oil Corp. Ltd. - Segment focus
      • Table Indian Oil Corp. Ltd. - Key offerings
    • Ocean Bunkering Services (Pte.) Ltd.
      • Table Ocean Bunkering Services (Pte.) Ltd. - Vendor overview
      • Table Ocean Bunkering Services (Pte.) Ltd. - Key offerings
    • PetroChina Co. Ltd.
      • Table PetroChina Co. Ltd. - Vendor overview
      • Table PetroChina Co. Ltd. - Business segments
      • Table PetroChina Co. Ltd. - Organizational developments
      • Table PetroChina Co. Ltd. - Geographic focus
      • Table PetroChina Co. Ltd. - Segment focus
      • Table PetroChina Co. Ltd. - Key offerings
    • Qatar Petroleum
      • Table Qatar Petroleum - Vendor overview
      • Table Qatar Petroleum - Organizational developments
      • Table Qatar Petroleum - Key offerings
    • Rosneft Oil Co.
      • Table Rosneft Oil Co. - Vendor overview
      • Table Rosneft Oil Co. - Business segments
      • Table Rosneft Oil Co. - Organizational developments
      • Table Rosneft Oil Co. - Segment focus
      • Table Rosneft Oil Co. - Key offerings
    • Royal Dutch Shell Plc
      • Table Royal Dutch Shell Plc - Vendor overview
      • Table Royal Dutch Shell Plc - Business segments
      • Table Royal Dutch Shell Plc - Organizational developments
      • Table Royal Dutch Shell Plc - Geographic focus
      • Table Royal Dutch Shell Plc - Segment focus
      • Table Royal Dutch Shell Plc - Key offerings
    • TOTAL SA
      • Table TOTAL SA - Vendor overview
      • Table TOTAL SA - Business segments
      • Table TOTAL SA - Organizational developments
      • Table TOTAL SA - Geographic focus
      • Table TOTAL SA - Segment focus
      • Table TOTAL SA - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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