The global Bunker Oil market was valued at US$ 410 million in 2022 and is projected to reach US$ 536.8 million by 2029, at a CAGR of 3.9% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The USA market for Global Bunker Oil market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The China market for Global Bunker Oil market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The Europe market for Global Bunker Oil market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42 ?C (108 ?F) and oils burned in cotton or wool-wick burners. Fuel oil is made of long hydrocarbon chains, particularly alkanes, cycloalkanes and aromatics.
This report aims to provide a comprehensive presentation of the global market for Bunker Oil, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Bunker Oil. This report contains market size and forecasts of Bunker Oil in global, including the following market information:
- Global Bunker Oil Market Revenue, 2018-2023, 2024-2032, ($ millions)
- Global Bunker Oil Market Sales, 2018-2023, 2024-2032, (K MT)
- Global top five Bunker Oil companies in 2022 (%)
The continuously increasing naval expenditure is impacting the market positively. The governments across the globe are increasing their spending to raise the defense capacities of their countries to combat external threats pertaining to security issues. The global military expenditure is likely to increase considerably over the next few years. As a result, the spending will directly reflect the growth of the bunker oil market during the forecast period. Various countries including China, Russia, India, Saudi Arabia, the US, and other countries such as Indonesia and South Korea have increased their military spending substantially over the past few years. This will eventually lead to the growth of the bunker oil market during the forecast period.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Bunker Oil manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Bunker Oil Market, by Type, 2018-2023, 2024-2032 ($ Millions) & (K MT)
Global Bunker Oil Market Segment Percentages, by Type, 2022 (%)
- Residual Fuel
- Distillate Fuel
Global Bunker Oil Market, by Application, 2018-2023, 2024-2032 ($ Millions) & (K MT)
Global Bunker Oil Market Segment Percentages, by Application, 2022 (%)
- Container Vessels
- Tanker Vessels
- Bulk & General Cargo Vessels
Global Bunker Oil Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions) & (K MT)
Global Bunker Oil Market Segment Percentages, By Region and Country, 2022 (%)
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- The Middle East and Africa (Middle East, Africa)
- South and Central America (Brazil, Argentina, Rest of SCA)
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Bunker Oil revenues in global market, 2018-2023 (Estimated), ($ millions)
- Key companies Bunker Oil revenues share in global market, 2022 (%)
- Key companies Bunker Oil sales in global market, 2018-2023 (Estimated), (K MT)
- Key companies Bunker Oil sales share in global market, 2022 (%)
key players include:
- BP
- Chevron
- Exxon Mobil
- Gazprom
- HPCL
- Royal Dutch Shell
Outline of Major Chapters:
Chapter 1: Introduces the definition of Bunker Oil, market overview.
Chapter 2: Global Bunker Oil market size in revenue and volume.
Chapter 3: Detailed analysis of Bunker Oil manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Bunker Oil in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Bunker Oil capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
