Product Code: IRTNTR40326
The bunker fuel market is forecasted to grow by USD 30.1 bn during 2023-2028, accelerating at a CAGR of 4.18% during the forecast period. The report on the bunker fuel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing naval expenditure, increase in global seaborne trade, and growth of the shipping industry.
Technavio's bunker fuel market is segmented as below:
Market Scope |
Base Year | 2024 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 3.93% |
CAGR | 4.18% |
Incremental Value | $30.1bn |
By Type
By Application
- Container
- Bulk carrier
- Oil tanker
- General cargo
- Chemical tanker
By Geographical Landscape
- APAC
- Europe
- Middle East and Africa
- North America
- South America
This study identifies the growing lng market as one of the prime reasons driving the bunker fuel market growth during the next few years. Also, development of emulsified fuels and need for new refineries to comply with new IMO regulations will lead to sizable demand in the market.
The report on the bunker fuel market covers the following areas:
- Bunker fuel market sizing
- Bunker fuel market forecast
- Bunker fuel market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bunker fuel market vendors that include BP Plc, Chevron Corp., Eni SpA, Exxon Mobil Corp., Gulf Agency Co. Ltd., Indian Oil Corp. Ltd., Marathon Petroleum Corp., Marquard and Bahls AG, Neste Corp., PETRONAS Chemicals Group Berhad, PJSC LUKOIL, Rosneft Oil Co., Saudi Arabian Oil Co., Shell plc, and TotalEnergies SE. Also, the bunker fuel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 2.2 Market characteristics
- Market characteristics analysis
- 2.3 Value chain analysis
3 Market Sizing
- 3.1 Market definition
- Offerings of companies included in the market definition
- 3.2 Market segment analysis
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Global Bunker Fuel Market 2018 - 2022
- Historic Market Size - Data Table on Global Bunker Fuel Market 2018 - 2022 ($ billion)
- 4.2 Type segment analysis 2018 - 2022
- Historic Market Size - Type Segment 2018 - 2022 ($ billion)
- 4.3 Application segment analysis 2018 - 2022
- Historic Market Size - Application Segment 2018 - 2022 ($ billion)
- 4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
- 4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- 6.1 Market segments
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
- 6.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 6.3 MGO - Market size and forecast 2023-2028
- Chart on MGO - Market size and forecast 2023-2028 ($ billion)
- Data Table on MGO - Market size and forecast 2023-2028 ($ billion)
- Chart on MGO - Year-over-year growth 2023-2028 (%)
- Data Table on MGO - Year-over-year growth 2023-2028 (%)
- 6.4 HSFO - Market size and forecast 2023-2028
- Chart on HSFO - Market size and forecast 2023-2028 ($ billion)
- Data Table on HSFO - Market size and forecast 2023-2028 ($ billion)
- Chart on HSFO - Year-over-year growth 2023-2028 (%)
- Data Table on HSFO - Year-over-year growth 2023-2028 (%)
- 6.5 VLFSO - Market size and forecast 2023-2028
- Chart on VLFSO - Market size and forecast 2023-2028 ($ billion)
- Data Table on VLFSO - Market size and forecast 2023-2028 ($ billion)
- Chart on VLFSO - Year-over-year growth 2023-2028 (%)
- Data Table on VLFSO - Year-over-year growth 2023-2028 (%)
- 6.6 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)
7 Market Segmentation by Application
- 7.1 Market segments
- Chart on Application - Market share 2023-2028 (%)
- Data Table on Application - Market share 2023-2028 (%)
- 7.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 7.3 Container - Market size and forecast 2023-2028
- Chart on Container - Market size and forecast 2023-2028 ($ billion)
- Data Table on Container - Market size and forecast 2023-2028 ($ billion)
- Chart on Container - Year-over-year growth 2023-2028 (%)
- Data Table on Container - Year-over-year growth 2023-2028 (%)
- 7.4 Bulk carrier - Market size and forecast 2023-2028
- Chart on Bulk carrier - Market size and forecast 2023-2028 ($ billion)
- Data Table on Bulk carrier - Market size and forecast 2023-2028 ($ billion)
- Chart on Bulk carrier - Year-over-year growth 2023-2028 (%)
- Data Table on Bulk carrier - Year-over-year growth 2023-2028 (%)
- 7.5 Oil tanker - Market size and forecast 2023-2028
- Chart on Oil tanker - Market size and forecast 2023-2028 ($ billion)
- Data Table on Oil tanker - Market size and forecast 2023-2028 ($ billion)
- Chart on Oil tanker - Year-over-year growth 2023-2028 (%)
- Data Table on Oil tanker - Year-over-year growth 2023-2028 (%)
- 7.6 General cargo - Market size and forecast 2023-2028
- Chart on General cargo - Market size and forecast 2023-2028 ($ billion)
- Data Table on General cargo - Market size and forecast 2023-2028 ($ billion)
- Chart on General cargo - Year-over-year growth 2023-2028 (%)
- Data Table on General cargo - Year-over-year growth 2023-2028 (%)
- 7.7 Chemical tanker - Market size and forecast 2023-2028
- Chart on Chemical tanker - Market size and forecast 2023-2028 ($ billion)
- Data Table on Chemical tanker - Market size and forecast 2023-2028 ($ billion)
- Chart on Chemical tanker - Year-over-year growth 2023-2028 (%)
- Data Table on Chemical tanker - Year-over-year growth 2023-2028 (%)
- 7.8 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
- 9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 9.4 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 9.5 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 9.6 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
- 9.7 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
- 9.8 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ billion)
- Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
- 9.9 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.10 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ billion)
- Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.11 India - Market size and forecast 2023-2028
- Chart on India - Market size and forecast 2023-2028 ($ billion)
- Data Table on India - Market size and forecast 2023-2028 ($ billion)
- Chart on India - Year-over-year growth 2023-2028 (%)
- Data Table on India - Year-over-year growth 2023-2028 (%)
- 9.12 Saudi Arabia - Market size and forecast 2023-2028
- Chart on Saudi Arabia - Market size and forecast 2023-2028 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2023-2028 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2023-2028 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2023-2028 (%)
- 9.13 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ billion)
- Data Tables on Market opportunity By Geographical Landscape ($ billion)
10 Drivers, Challenges, and Opportunity/Restraints
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
- 10.4 Market opportunities/restraints
11 Competitive Landscape
- 11.1 Overview
- 11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 11.3 Landscape disruption
- Overview on factors of disruption
- 11.4 Industry risks
- Impact of key risks on business
12 Competitive Analysis
- 12.1 Companies profiled
- 12.2 Market positioning of companies
- Matrix on companies position and classification
- 12.3 BP Plc
- BP Plc - Overview
- BP Plc - Business segments
- BP Plc - Key news
- BP Plc - Key offerings
- BP Plc - Segment focus
- 12.4 Chevron Corp.
- Chevron Corp. - Overview
- Chevron Corp. - Business segments
- Chevron Corp. - Key offerings
- Chevron Corp. - Segment focus
- 12.5 Eni SpA
- Eni SpA - Overview
- Eni SpA - Business segments
- Eni SpA - Key offerings
- Eni SpA - Segment focus
- 12.6 Exxon Mobil Corp.
- Exxon Mobil Corp. - Overview
- Exxon Mobil Corp. - Business segments
- Exxon Mobil Corp. - Key offerings
- Exxon Mobil Corp. - Segment focus
- 12.7 Gulf Agency Co. Ltd.
- Gulf Agency Co. Ltd. - Overview
- Gulf Agency Co. Ltd. - Product / Service
- Gulf Agency Co. Ltd. - Key news
- Gulf Agency Co. Ltd. - Key offerings
- 12.8 Indian Oil Corp. Ltd.
- Indian Oil Corp. Ltd. - Overview
- Indian Oil Corp. Ltd. - Business segments
- Indian Oil Corp. Ltd. - Key offerings
- Indian Oil Corp. Ltd. - Segment focus
- 12.9 Marathon Petroleum Corp.
- Marathon Petroleum Corp. - Overview
- Marathon Petroleum Corp. - Business segments
- Marathon Petroleum Corp. - Key offerings
- Marathon Petroleum Corp. - Segment focus
- 12.10 Marquard and Bahls AG
- Marquard and Bahls AG - Overview
- Marquard and Bahls AG - Product / Service
- Marquard and Bahls AG - Key offerings
- 12.11 Neste Corp.
- Neste Corp. - Overview
- Neste Corp. - Business segments
- Neste Corp. - Key news
- Neste Corp. - Key offerings
- Neste Corp. - Segment focus
- 12.12 PETRONAS Chemicals Group Berhad
- PETRONAS Chemicals Group Berhad - Overview
- PETRONAS Chemicals Group Berhad - Business segments
- PETRONAS Chemicals Group Berhad - Key offerings
- PETRONAS Chemicals Group Berhad - Segment focus
- 12.13 PJSC LUKOIL
- PJSC LUKOIL - Overview
- PJSC LUKOIL - Product / Service
- PJSC LUKOIL - Key offerings
- 12.14 Rosneft Oil Co.
- Rosneft Oil Co. - Overview
- Rosneft Oil Co. - Product / Service
- Rosneft Oil Co. - Key offerings
- 12.15 Saudi Arabian Oil Co.
- Saudi Arabian Oil Co. - Overview
- Saudi Arabian Oil Co. - Product / Service
- Saudi Arabian Oil Co. - Key offerings
- 12.16 Shell plc
- Shell plc - Overview
- Shell plc - Business segments
- Shell plc - Key offerings
- Shell plc - Segment focus
- 12.17 TotalEnergies SE
- TotalEnergies SE - Overview
- TotalEnergies SE - Business segments
- TotalEnergies SE - Key news
- TotalEnergies SE - Key offerings
- TotalEnergies SE - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 13.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 13.4 Research methodology
- 13.5 Data procurement
- 13.6 Data validation
- 13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 13.8 Data synthesis
- 13.9 360 degree market analysis
- 360 degree market analysis
- 13.10 List of abbreviations