Bunker Fuel Market Expected to Reach USD Growth Size and Forecast, Surging With High CAGR: By TechSci Research
The global bunker fuel market is poised for growth due to the increasing adoption of LNG-fueled fleets and the expanding natural gas trade in the forecast period.
TechSci Research's report, "Bunker
Fuel Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2028," predicts robust growth in the global bunker fuel
market. Key drivers include the International Maritime Organization's sulfur
regulations for marine fuel and the uptick in offshore oil and gas exploration
activities. The market is expected to benefit from the growing interest in LNG
as a marine fuel alternative.
Considerable investment in LNG
bunkering infrastructure has made LNG-based vessels preferable for ship owners,
particularly those operating in European or American waters. However,
LNG-fueled ships have yet to make significant inroads in the bulk carrier
market due to technological limitations and the predominant use of conventional
vessels in this sector. Bulk carriers primarily transport large cargoes, with
livestock transporters comprising a significant portion of the current fleet.
Browse over XX market data Figures spread through 110
Pages and an in-depth TOC on "Global bunker fuel market.”
https://www.techsciresearch.com/report/bunker-fuel-market/15646.html
The global bunker fuel market
is categorized by type, commercial distributor, application, and region. Types
include high sulfur fuel oil, low sulfur fuel oil, marine gasoil, and others.
Commercial distributors are divided into oil majors, large independents, and
small independents. Applications encompass container, bulk carrier, oil tanker,
general cargo, chemical tanker, fishing vessels, gas tankers, and others.
Regions covered are North America, Asia-Pacific, Europe, South America, and the
Middle East & Africa.
The low sulfur fuel oil
segment is expected to be the most profitable due to the decline in demand for
high sulfur fuel oil (HSFO) following the implementation of IMO-2020
regulations, driving demand for low sulfur fuel oil.
Among commercial distributors,
the oil majors segment is forecasted to lead, maintaining its dominance in the
global bunker fuel market, particularly in the crude oil tanker chartering
industry.
The container segment holds
the largest share in applications, driven by increasing trade agreements and
cargo transportation demands, especially in regions like LAMEA and
Asia-Pacific.
Asia-Pacific dominates the
market, fueled by the robust marine commerce potential of countries like India,
China, Singapore, and Japan. China, a top exporter and importer, is
experiencing oversupply in its fleet. India's government has announced significant
investments to modernize ports, boosting demand for marine fuel in the region.
With port infrastructure
expansions and increased demand from the maritime industry, Asia-Pacific is
poised to lead the global bunker fuel market during the forecast period.
Key market players in the global bunker fuel market
are:
- Exxon
Mobil Corporation
- Gazprom
Neft PJSC
- Lukoil
Oil Company
- Total
Energies SE
- Chevron
Corporation
- Gulf
Agency Company Ltd (GAC)
- Bomin
Bunker Holding GmbH & Co. KG
- Bunker
Holding A/S
- Fratelli
Cosulich S.p.A.
- Adani Bunkering Private Limited (part of
Adani Group)
Download Free Sample Report@
https://www.techsciresearch.com/sample-report.aspx?cid=15646
Customers can also request for 10% free customization
on this report.
"The demand for bunker fuel is influenced by sulfur emission regulations,
increasing maritime activity, and investments in the oil and gas sector. Market
players are advised to invest in research and development and enhance marine
bunker fuel supply to meet growing demand and stay competitive. Technological
advancements in the oil and gas industry are expected to accelerate offshore
exploration, driving global bunker fuel market growth by 2028," stated Mr.
Karan Chechi, Research Director at TechSci Research.
The report, "Bunker Fuel
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018–2028F," assesses the future growth potential of the
global bunker fuel market, providing insights into market size, structure, and
future growth. It aims to offer advanced market intelligence to aid
decision-makers in making sound investment decisions. Additionally, the report
identifies and analyzes emerging trends, key drivers, challenges, and
opportunities in the global bunker fuel market.
Review More Oil & Gas
Reports:
Saudi
Arabia Drilling Services Market: Saudi Arabia is anticipated to invest significantly in
the domestic upstream sector to increase crude oil production capacity to about
13 million barrels/day by 2027, which is anticipated to be a major factor
driving the market during the forecast period.
UAE LPG
Market: The country's LPG
market is anticipated to develop in the next years because of the rising demand
for clean cooking fuels in both rural and urban households.
Drilling
Services Market: Drilling
Services Market is anticipated to grow at a steady pace in the forecast
period, 2023-2028 due to new contracts for developing mining assets, and the
continuous launch of new tools & services to boost production.
Rigless
Intervention Systems Market: Rigless Intervention Systems
Market is expected to grow at a steady pace during the forecast period,
2023-2028, owing to the increased exploration and production of onshore
and offshore oil and gas reserves.
Contact
Mr. Ken Mathews
708
Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Website: https://www.techsciresearch.com
Comments
Post a Comment