Bunker Fuel Market to Garner $142,489 Million - Comprehensive and Competitive Analysis of Leading Market Players - Aegean Marine Petroleum Network Inc., Bomin Bunker Oil Corp., BP PLC, Bunker Holding A/S, Chemoil Energy Ltd., Exxon Mobil, Gazprom Neft PJS

Allied Market Research published a report, titled, Bunker Fuel Market by Type (Residual Fuel Oil, Marine Diesel Oil, and Marine Gas Oil), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and End User (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessel, Gas Tanker) - Global Opportunity Analysis and Industry Forecast, 2017-2023. This report offers comprehensive analyses of the global bunker fuel market along with the market trends, drivers, opportunities, key player positioning, top investment pockets, and competitive landscape. According to the report, the global bunker fuel market generated $82.04 billion in 2017, and is expected to reach $142.48 billion by 2023, registering a CAGR of 9.6% from 2017 to 2023.

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The growth of the market is attributed to the surge in marine-borne trade and increase in offshore exploration activities, which augments the requirement of bunker fuel. However, high investment costs involved in creating the bunker fuel infrastructure and persistent need to replace the old containers hinder the market growth. On the contrary, pressing need to find alternate sources of marine fuel would create lucrative prospects for the market players.

In terms of commercial distribution, oil majors segment contributed the highest share in 2017, accounting for more than one-third of the total revenue. This is due to the dominance of six multinational oil organizations that control the activities of most of the oil requirement worldwide. Small independent distributor segment would grow at the fastest CAGR of 9.8% from 2017 to 2023, owing to the increase in the number of small independent companies. The large independent distributors segment is expected to witness steady rate during the forecast period.

Containers segment contributed the highest share in terms of revenue, accounting for nearly one-fourth of the total market revenue in 2017, owing to their massive weight carrying capacity. This segment is expected to maintain its dominance through 2023. Fishing vessels segment would register the fastest CAGR of 10.2% from 2017 to 2023, owing to the high adoption of bunker fuel to transport heavy fishing boats. The report also analyzes bulk carrier, oil tanker, general cargo, chemical tanker, gas tanker, and others.

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Asia-Pacific contributed nearly half of the total market share in 2017 and is expected to retain its dominance throughout the forecast period. This region is anticipated to continue its lead position in terms of revenue by 2023, owing to the increased number of refineries, which produces fuel oil in large quantities. On the other hand, North America is expected to register the fastest CAGR of 10.9% from 2017 to 2023, owing to the abundance of ultralow sulfur fuel oil (ULSFO) & MGO in the region coupled with implementation of IMOs marine fuel directives for 2020

The key players analyzed in the report include Bomin Bunker Oil Corp., Aegean Marine Petroleum Network Inc., KPI Bridge Oil A/S, Chemoil Energy Ltd., BP PLC, Exxon Mobil, Bunker Holding A/S, Gazprom Neft PJSC, GAC Bunker Fuels Ltd., and Royal Dutch Shell PLC. The companies have adopted expansion, product development, collaboration, joint ventures, and merger strategies to sustain the intense market competition in the industry.

List of Figures

FIGURE 1. GLOBAL BUNKER FUEL MARKET: SEGMENTATION
FIGURE 2. GLOBAL BUNKER FUEL MARKET SHARE, BY TYPE, 2015 (%)
FIGURE 3. TOP INVESTMENT POCKETS, BY TYPE
FIGURE 4. TOP WINNING STRATEGIES
FIGURE 5. BARGAINING POWER OF SUPPLIERS
FIGURE 6. BARGAINING POWER OF BUYERS
FIGURE 7. THREAT OF NEW ENTRANTS
FIGURE 8. THREAT OF SUBSTITUTES
FIGURE 9. COMPETITIVE RIVALRY
FIGURE 10. U.S. BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 11. CANADA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 12. MEXICO BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 13. FRANCE BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 14. GERMANY BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 15. UK BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 16. SPAIN BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 17. ITALY BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 18. REST OF EUROPE BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 19. INDIA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 20. CHINA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 21. JAPAN BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 22. SOUTH KOREA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 23. REST OF ASIA-PACIFIC BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 24. BRAZIL BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 25. SOUTH AFRICA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 26. SOUTH AFRICA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 27. REST OF LAMEA BUNKER FUEL MARKET VALUE, 2015-2023 ($MILLION)

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