Market Overview:
The global bunkering service market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for marine fuel oil and bunker fuel from the shipping industry across the globe. In addition, stringent environmental regulations regarding emissions from ships are also fueling the demand for bunker fuel and marine diesel oil in the market. Based on type, MDO is expected to account for a major share of the global bunkering service market during 2018-2030. This can be attributed to its high calorific value as well as low sulfur content as compared with other types of marine fuels such as MGO and HFO. Based on application, tankers are estimated to account for a majority share of the global bunkering service market in 2018 followed by container ships and bulk carriers respectively.
Product Definition:
Bunkering Service is the process of supplying fuel to ships. The bunkering service can be delivered through a number of methods, including via pipeline, truck, or barge. The main purpose of bunkering service is to ensure that ships have enough fuel to continue their voyage.
Marine Diesel Fuel (MDO):
Marine diesel oil (MDO) is a type of marine fuel that is used as an alternative to conventional fuels such as gasoline and other distillates. It is produced from the vaporization of heavy oils, which are obtained through crude oil processing. MDO has a high viscosity index and low sulfur content making it ideal for use in ships’ engines.
Marine Gasoil Fuel (MGO):
Marine gasoil fuel (MGO) is a type of marine diesel oil which is used as an alternative to conventional marine diesel. It has a high content of methylene diphenyl diisocyanate (MDI) and polyoxygenase (PO). The product has the ability to reduce smoke emissions, improve ship’s efficiency and provide better protection against corrosion.
Application Insights:
Tankers led the market and accounted for more than a 29% share of the global revenue in 2017. The segment will expand further at a steady CAGR from 2018 to 2030 owing to growing demand for crude oil products from emerging economies, such as China, India, and Brazil. Furthermore, increasing investments by governments in developing tankers that are capable of operating at high temperatures is expected to drive growth over the forecast period.
Moreover, expansion projects undertakenby container shipping companies including Maersk Line Ltd., MSC Sinfonia Co., Ltd., Evergreen Line Ltd., and others are expectedto result in increased capacity across various regions which would provide additional business opportunitiesfor bunkering service providers during the estimated time frame.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth of this region can be attributed to increasing trade activities across various sectors such as containers, bulk, and chemicals among others. Increasing demand for bunkering services in these industries is anticipated to drive the overall market growth over the next eight years.
The Asia Pacific was followed by Europe which accounted for a share of 25% in 2017 owing to growing maritime transportation activities across several countries including Italy, Spain, Greece and U.K., thereby driving up industry size estimates over this region as well during same year. North America also had a significant impact on global industry size estimates due to rising trade activities along with growing offshore oil & gas exploration projects in U.S.
Growth Factors:
- Increasing demand for bunkering services from the shipping and marine industries as a result of the growth in global trade.
- The increasing number of cruise ships and container vessels in operation, which will lead to an increase in demand for bunkering services.
- The development of new bunker ports and terminals, which will provide additional capacity and improve efficiency in the bunkering market.
- The growth of LNG as a marine fuel, which is expected to increase demand for bunker fuel over the next decade or so.
Scope Of The Report
Report Attributes
Report Details
Report Title
Bunkering Service Market Research Report
By Type
Marine Diesel Fuel (MDO), Marine Gasoil Fuel (MGO), Marine Fuel Oil (MFO), Intermediate Fuel Oil (IFO), Heavy Fuel Oil (HFO)
By Application
Tankers, Container Ships, Bulk Carriers, Fishing Vessels, Others
By Companies
Bomin Bunker Oil Corp., Lukoil-Bunker LLC, Aegean Marine Petroleum Network, Inc., Chemoil Energy Limited, BP PLC, World Fuel Services Corporation, Bunker Holding A/S, Gazpromneft Marine Bunker LLC, GAC Bunker Fuels Ltd., Royal Dutch Shell Plc, Exxon Mobil Corporation, KPI Bridge Oil A/S
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
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global Bunkering Service Market Report Segments:
The global Bunkering Service market is segmented on the basis of:
Types
Marine Diesel Fuel (MDO), Marine Gasoil Fuel (MGO), Marine Fuel Oil (MFO), Intermediate Fuel Oil (IFO), Heavy Fuel Oil (HFO)
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
Tankers, Container Ships, Bulk Carriers, Fishing Vessels, Others
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:
- Bomin Bunker Oil Corp.
- Lukoil-Bunker LLC
- Aegean Marine Petroleum Network, Inc.
- Chemoil Energy Limited
- BP PLC
- World Fuel Services Corporation
- Bunker Holding A/S
- Gazpromneft Marine Bunker LLC
- GAC Bunker Fuels Ltd.
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- KPI Bridge Oil A/S
Highlights of The Bunkering Service 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:
- Marine Diesel Fuel (MDO)
- Marine Gasoil Fuel (MGO)
- Marine Fuel Oil (MFO)
- Intermediate Fuel Oil (IFO)
- Heavy Fuel Oil (HFO)
- By Application:
- Tankers
- Container Ships
- Bulk Carriers
- Fishing Vessels
- Others
- 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 Bunkering Service 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?
Bunkering service is a term used to describe the practice of providing temporary storage for goods while they are awaiting shipment.
Some of the major players in the bunkering service market are Bomin Bunker Oil Corp., Lukoil-Bunker LLC, Aegean Marine Petroleum Network, Inc., Chemoil Energy Limited, BP PLC, World Fuel Services Corporation, Bunker Holding A/S, Gazpromneft Marine Bunker LLC, GAC Bunker Fuels Ltd., Royal Dutch Shell Plc, Exxon Mobil Corporation, KPI Bridge Oil A/S.
The bunkering service market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Bunkering Service 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 Bunkering Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Bunkering Service 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 Bunkering Service 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 Bunkering Service Market Size & Forecast, 2018-2028
4.5.1 Bunkering Service Market Size and Y-o-Y Growth
4.5.2 Bunkering Service Market Absolute $ Opportunity
Chapter 5 Global Bunkering Service 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 Bunkering Service Market Size Forecast by Type
5.2.1 Marine Diesel Fuel (MDO)
5.2.2 Marine Gasoil Fuel (MGO)
5.2.3 Marine Fuel Oil (MFO)
5.2.4 Intermediate Fuel Oil (IFO)
5.2.5 Heavy Fuel Oil (HFO)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Bunkering Service 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 Bunkering Service Market Size Forecast by Applications
6.2.1 Tankers
6.2.2 Container Ships
6.2.3 Bulk Carriers
6.2.4 Fishing Vessels
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Bunkering Service 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 Bunkering Service 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 Bunkering Service Analysis and Forecast
9.1 Introduction
9.2 North America Bunkering Service 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 Bunkering Service Market Size Forecast by Type
9.6.1 Marine Diesel Fuel (MDO)
9.6.2 Marine Gasoil Fuel (MGO)
9.6.3 Marine Fuel Oil (MFO)
9.6.4 Intermediate Fuel Oil (IFO)
9.6.5 Heavy Fuel Oil (HFO)
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 Bunkering Service Market Size Forecast by Applications
9.10.1 Tankers
9.10.2 Container Ships
9.10.3 Bulk Carriers
9.10.4 Fishing Vessels
9.10.5 Others
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 Bunkering Service Analysis and Forecast
10.1 Introduction
10.2 Europe Bunkering Service 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 Bunkering Service Market Size Forecast by Type
10.6.1 Marine Diesel Fuel (MDO)
10.6.2 Marine Gasoil Fuel (MGO)
10.6.3 Marine Fuel Oil (MFO)
10.6.4 Intermediate Fuel Oil (IFO)
10.6.5 Heavy Fuel Oil (HFO)
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 Bunkering Service Market Size Forecast by Applications
10.10.1 Tankers
10.10.2 Container Ships
10.10.3 Bulk Carriers
10.10.4 Fishing Vessels
10.10.5 Others
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 Bunkering Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Bunkering Service 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 Bunkering Service Market Size Forecast by Type
11.6.1 Marine Diesel Fuel (MDO)
11.6.2 Marine Gasoil Fuel (MGO)
11.6.3 Marine Fuel Oil (MFO)
11.6.4 Intermediate Fuel Oil (IFO)
11.6.5 Heavy Fuel Oil (HFO)
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 Bunkering Service Market Size Forecast by Applications
11.10.1 Tankers
11.10.2 Container Ships
11.10.3 Bulk Carriers
11.10.4 Fishing Vessels
11.10.5 Others
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 Bunkering Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Bunkering Service 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 Bunkering Service Market Size Forecast by Type
12.6.1 Marine Diesel Fuel (MDO)
12.6.2 Marine Gasoil Fuel (MGO)
12.6.3 Marine Fuel Oil (MFO)
12.6.4 Intermediate Fuel Oil (IFO)
12.6.5 Heavy Fuel Oil (HFO)
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 Bunkering Service Market Size Forecast by Applications
12.10.1 Tankers
12.10.2 Container Ships
12.10.3 Bulk Carriers
12.10.4 Fishing Vessels
12.10.5 Others
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) Bunkering Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Bunkering Service 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) Bunkering Service Market Size Forecast by Type
13.6.1 Marine Diesel Fuel (MDO)
13.6.2 Marine Gasoil Fuel (MGO)
13.6.3 Marine Fuel Oil (MFO)
13.6.4 Intermediate Fuel Oil (IFO)
13.6.5 Heavy Fuel Oil (HFO)
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) Bunkering Service Market Size Forecast by Applications
13.10.1 Tankers
13.10.2 Container Ships
13.10.3 Bulk Carriers
13.10.4 Fishing Vessels
13.10.5 Others
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 Bunkering Service Market: Competitive Dashboard
14.2 Global Bunkering Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bomin Bunker Oil Corp.
14.3.2 Lukoil-Bunker LLC
14.3.3 Aegean Marine Petroleum Network, Inc.
14.3.4 Chemoil Energy Limited
14.3.5 BP PLC
14.3.6 World Fuel Services Corporation
14.3.7 Bunker Holding A/S
14.3.8 Gazpromneft Marine Bunker LLC
14.3.9 GAC Bunker Fuels Ltd.
14.3.10 Royal Dutch Shell Plc
14.3.11 Exxon Mobil Corporation
14.3.12 KPI Bridge Oil A/S
