Market Overview:
The global bunker oil market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increase in maritime trade and the rise in demand for bunker fuel from container vessels, tanker vessels, bulk & general cargo vessels. However, volatility in prices of crude oil and stringent environmental regulations are some of the factors restraining the growth of this market. Based on type, residual fuel accounted for a major share of the global bunker oil market in 2017. This can be attributed to its low price as compared to other types of bunker fuels and its high calorific value that makes it suitable for use in large ships. Based on application, container vessels accounted for a major share of the global bunker oil market in 2017. This can be attributed to an increase in maritime trade and an increase in demand from developing countries such as China and India.
Product Definition:
Bunker oil is a heavy, viscous oil that is used as a fuel in ships and power plants. It is also known as residual fuel oil. Bunker oil is so thick that it cannot be pumped through pipelines, so it must be delivered by tankers or barges.
Residual Fuel:
Residual fuel is the by-product of oil refining, which remains in the bottom of the tank after oil has been extracted from crude. The amount of residual fuel can vary depending on refinery operations and product demand. It contains impurities such as sulfur, nitrogen, and carbon monoxide that need to be removed before using it for any other purpose.
Distillate Fuel:
Distillate fuel is a by-product obtained during the production of gasoline. It consists of various components such as paraffins, waxes, and heavy oils. The distillate fuels are used in the production of synthetic or bunker oil which finds application in marine engines and power plants among others.
The demand for distillate fuel has been increasing over the past few years owing to its usage as an additive in diesel.
Application Insights:
Container vessels were the largest application segment and accounted for over 60.0% of the total market volume in 2017. The growth can be attributed to increasing demand from emerging economies including China, India, and Brazil owing to growing industrialization and rising disposable income levels among people there. Latin America also accounted for a significant share in container vessel traffic as several countries are still developing their infrastructure capabilities which is likely to propel bunker oil demand from 2018 to 2030.
Tanker vessels are expected to grow at a CAGR of XX% over the forecast period owing to increased trade activities across various regions coupled with robust economic growth especially in Asia Pacific region which is anticipated drive up oil products such as jet fuel (kerosene).
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% of global Bunker Oil Market by volume in 2017. Increasing demand from emerging economies, such as China and India, coupled with growing trade activities between these countries and other regions are likely to drive growth over the coming years.
The Asia Pacific bunker oil market is majorly driven by fuel consumption in commercial vehicles including trucks and buses across all economic sectors including residential, non-residential construction, industrial facilities along with trains & flights within Asia Pacific region itself. Growing automotive industry due to increasing per capita income levels coupled with government initiatives such as “Make in India†campaign are projected to further propel product demand over the next eight years.
Growth Factors:
- Increasing demand from the shipping and transportation sector as a result of global trade growth.
- Rising bunker prices as a result of increasing crude oil prices.
- Stringent environmental regulations that incentivize the use of low-sulfur fuels in maritime transport.
- The development of new bunkering infrastructure and technologies that improve efficiency and reduce costs for consumers.
- Growing interest in alternative fuels such as LNG and methanol, which could eventually displace traditional bunker fuel oils
Scope Of The Report
Report Attributes
Report Details
Report Title
Bunker Oil Market Research Report
By Type
Residual Fuel, Distillate Fuel
By Application
Container Vessels, Tanker Vessels, Bulk & General Cargo Vessels
By Companies
BP, Chevron, Exxon Mobil, Gazprom, HPCL, Royal Dutch Shell, BP
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Bunker Oil Market Report Segments:
The global Bunker Oil market is segmented on the basis of:
Types
Residual Fuel, Distillate Fuel
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Container Vessels, Tanker Vessels, Bulk & General Cargo Vessels
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BP
- Chevron
- Exxon Mobil
- Gazprom
- HPCL
- Royal Dutch Shell
- BP
Highlights of The Bunker Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Residual Fuel
- Distillate Fuel
- By Application:
- Container Vessels
- Tanker Vessels
- Bulk & General Cargo Vessels
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Bunker Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Bunker oil is a type of heavy oil that is extracted from the ground. It has a high viscosity, which makes it difficult to extract and process.
Some of the key players operating in the bunker oil market are BP, Chevron, Exxon Mobil, Gazprom, HPCL, Royal Dutch Shell, BP.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Bunker Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Bunker Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Bunker Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Bunker Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Bunker Oil Market Size & Forecast, 2018-2028
4.5.1 Bunker Oil Market Size and Y-o-Y Growth
4.5.2 Bunker Oil Market Absolute $ Opportunity
Chapter 5 Global Bunker Oil Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Bunker Oil Market Size Forecast by Type
5.2.1 Residual Fuel
5.2.2 Distillate Fuel
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Bunker Oil Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Bunker Oil Market Size Forecast by Applications
6.2.1 Container Vessels
6.2.2 Tanker Vessels
6.2.3 Bulk & General Cargo Vessels
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Bunker Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Bunker Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Bunker Oil Analysis and Forecast
9.1 Introduction
9.2 North America Bunker Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Bunker Oil Market Size Forecast by Type
9.6.1 Residual Fuel
9.6.2 Distillate Fuel
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Bunker Oil Market Size Forecast by Applications
9.10.1 Container Vessels
9.10.2 Tanker Vessels
9.10.3 Bulk & General Cargo Vessels
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Bunker Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Bunker Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Bunker Oil Market Size Forecast by Type
10.6.1 Residual Fuel
10.6.2 Distillate Fuel
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Bunker Oil Market Size Forecast by Applications
10.10.1 Container Vessels
10.10.2 Tanker Vessels
10.10.3 Bulk & General Cargo Vessels
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Bunker Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Bunker Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Bunker Oil Market Size Forecast by Type
11.6.1 Residual Fuel
11.6.2 Distillate Fuel
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Bunker Oil Market Size Forecast by Applications
11.10.1 Container Vessels
11.10.2 Tanker Vessels
11.10.3 Bulk & General Cargo Vessels
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Bunker Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Bunker Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Bunker Oil Market Size Forecast by Type
12.6.1 Residual Fuel
12.6.2 Distillate Fuel
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Bunker Oil Market Size Forecast by Applications
12.10.1 Container Vessels
12.10.2 Tanker Vessels
12.10.3 Bulk & General Cargo Vessels
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Bunker Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Bunker Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Bunker Oil Market Size Forecast by Type
13.6.1 Residual Fuel
13.6.2 Distillate Fuel
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Bunker Oil Market Size Forecast by Applications
13.10.1 Container Vessels
13.10.2 Tanker Vessels
13.10.3 Bulk & General Cargo Vessels
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Bunker Oil Market: Competitive Dashboard
14.2 Global Bunker Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BP
14.3.2 Chevron
14.3.3 Exxon Mobil
14.3.4 Gazprom
14.3.5 HPCL
14.3.6 Royal Dutch Shell
14.3.7 BP
