Bunker Fuel Market Global Industry Analysis, Size, Share, Growth, Trends, Forecast
Credence Research, the leading business intelligence provider, has published its latest research, “Bunker Fuel Market 2026”, which gives insights into Bunker Fuel in the Global market. The report determines the market size for 2018, along with forecasts until 2026. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.[Continue reading..]
The progress of the global bunker fuel market is majorly attributed to the growing demand for fuel from tanker vessels and containers. Large-scale bunkering ports situated at strategic locations account for a significant share in the overall market. The Asia Pacific is observed to be the largest market for bunker fuel both in terms of market revenue and volume due to large commodity consumption in the region. The European market for bunker fuel is growing at a competitive growth rate due to the existence of some of the busiest trade routes and choke points in the region. Furthermore, growing imports of goods and fuel oil in the region further contribute to the dominance of Asia Pacific in the global bunker fuel market.
Bunker fuel is majorly utilized by shipping corporations, where residual fuel and distillate fuel are used for fueling fleets. Residual fuel currently dominates the bunker fuel market among the available fuel types. Based on fuel grades, the global bunker fuel market is majorly categorized into MDO/MGO, IFO 380, IFO 180, Other IFO (IFO 500 & 700), LS 380 and LS 180. IFO fuel are the most preferred fuel grades as against others due to their cheaper price. IFO 380 segment is further anticipated to continue to dominate the market over the forecast period because a significant number of ship engines are fitted to combust IFO 380 fuel. Furthermore, as the expansion of emission control areas is progressing the demand for MDO/MGO type fuels is anticipated to grow.
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Among the end users, bulk and general cargo vessels occupy the largest market share in the global bunker fuel market. However, since cargo vessels require significant manpower for operation these vessel type are being perpetually replaced by container vessels, thus contributing to their fastest growth rate during the forecast period.
The major drivers of the global bunker fuel market are swift increase in bunker requirements in product and fuel transport, and growing hydrocarbon resource development activities in offshore areas. On the other hand, increasing initiatives to reduce fuel consumption and emissions are challenging the growth of this market.
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- The report presents the brief overview of Bunker Fuel Market including business description, key information and facts, and its locations and subsidiaries
- The report features product description and descriptive mechanism of action for key products along with the products developmental history and major milestones
- Special feature on out-licensed and partnered product portfolio
- The report summarizes all the dormant and discontinued projects
- Latest company statement
- Latest news and deals relating to the Bunker Fuel products
The following research methods were used in this report:
- Desk study
- A questionnaire survey among specialty retail chains
- Analyzing statistical data released by the Federal Customs Service
- Desk study sources include materials taken from print and online media conference materials.
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- The report provides information about technology solutions needed for the implementation of Bunker Fuel projects and allows readers to make effective business decisions
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- The report highlights the projected investment on Bunker Fuel over the next two years. This will help organizations to allocate budget towards Bunker Fuel implementation and business expansion
- The report helps executives plan their adoption of Bunker Fuel by providing expected timeframes for implementation
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