Jan 22, 2020 (The Expresswire) -- Bunker Fuel Industry 2020 Global Market Research report 2020 covers a detailed study of the Bunker Fuel Market size, growth, and share, trends, consumption, segments, application and Forecast 2024.
"Bunker Fuel" Market 2020 report focus on Global and regional Market, providing information on major players like Manufacturers, Suppliers, Distributors, Traders, Customers, investors etc. It helps in visualizing the composition of the Bunker Fuel market across each indication by highlighting the key commercial assets and Players. Bunker Fuel Market Report Pinpoint Data type include capacity, production, Market share, price, revenue, cost, gross, Gross margin, Growth rate, consumption, import, export and etc. The report provides Strategists for Marketers and Senior management with the critical information they need to assess the global Oil, Gas and Consumable Fuels sector. Industry researcher project Bunker Fuel market was valued at USD XX.XX Billion and CAGR of 26.55% during the period 2020-2024.
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“The latest trend gaining momentum in the market is the development of scrubber technology.”
According to the report, one of the major drivers for this market is the increasing global volume of seaborne trade.
Further, the report states that one of the major factors hindering the growth of this market is the implementation of MARPOL regulations.
Global Bunker Fuel Market: About this market
Bunker fuel market analysis considers sales from high sulfur fuel and low sulfur fuel types. Our study also finds the sales of bunker fuel in APAC, Europe, MEA, North America, and South America. In 2019, the low sulfur fuel segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the implementation of MARPOL regulations which is restricting the use of fuels with a sulfur content more than 0.5% will play a significant role in the low sulfur fuel segment to maintain its market position. Also, our global bunker fuel market report looks at factors such as the increasing global volume of seaborne trade, expansion of marine fleets, and increasing global refining capacity. However, implementation of MARPOL regulations, fluctuations in the cost of crude oil, and increasing adoption of slow steaming may hamper the growth of the bunker fuel industry over the forecast period.
Bunker Fuel Market 2020 Trend, Challengeand Driver: -
Global Bunker Fuel Market: Overview
Increasing global volume of seaborne trade
Seaborne transportation is a key part of globalization. It enables international trade, supports supply chains, and plays a crucial role in cross-border transportation. Seaborne transportation nurtures industrial development, as it supports the growth of manufacturing, brings together customers and industries, and promotes the integration of economies and trade between regions. The global volume of seaborne trade grew by more than 15% between 2013 and 2018. It is expected to grow further owing to the growth of the global GDP. An increase in disposable income in developing economies has resulted in a rise in their contribution to the growth in the global volume of seaborne trade. This increasing global volume of seaborne trade will lead to the expansion of the global bunker fuel market at a CAGR of over 7% during the forecast period.
Development of scrubber technology
The emission of sulfur must be reduced to comply with the stringent norms related to emissions. Reducing sulfur emissions is a major challenge for the shipping industry, as it requires certain changes. A short-term solution that can help reduce the emission of sulfur is the use of marine scrubbers. Marine scrubbers are exhaust gas cleaning technologies that are used to remove most sulfur oxides and particulate matter from the exhaust gases released by vessels. Several marine scrubber companies are collaborating within the value chain to improve the technology and simplify installation. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global bunker fuel market during the forecast period 2020-2024, click here.
With the presence of several major players, the global bunker fuel market is fragmented. 360 Market Update’s 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 manufacturers, that include BP Plc, Chevron Corp., Exxon Mobil Corp., Indian Oil Corp. Ltd., Ocean Bunkering Services (Pte.) Ltd., PetroChina Co. Ltd., Qatar Petroleum, Rosneft Oil Co., Royal Dutch Shell Plc, and TOTAL SA.
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 on all forthcoming growth opportunities.
Porter’s five forces analysis included in the report educates the buyer on the current situations along with anticipated future Bunker Fuel market size.
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Geographically,this report is segmented into several key Regions covering:Americas, APAC, EMEA
Key vendors operating in 2020 Bunker Fuel market space are-
BP Plc, Chevron Corp., Exxon Mobil Corp., Indian Oil Corp. Ltd., Ocean Bunkering Services (Pte.) Ltd., PetroChina Co. Ltd., Qatar Petroleum, Rosneft Oil Co., Royal Dutch Shell Plc, and TOTAL SA.
Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.
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Following are the objectives of The 2020 Bunker Fuel Market Report:
To describe and forecast the overall Bunker Fuel market, in terms of value, segmented on the basis of authentication type, functionality type, component, and application.
To forecast the market size for various segments, by key region.
To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Bunker Fuel market.
To strategically analyze the Micro markets with respect to individual growth trends, Prospects, and Contributions to the total market.
To analyze opportunities in the overall Bunker Fuel market for stakeholders by identifying the high growth segments.
To profile key players and analyze their Market ranking in terms of revenues and core competencies and provide details of the competitive landscape for the Bunker Fuel market leaders.
To analyze growth strategies such as Contracts, Mergers and Acquisitions, Product launches and Developments, and Research and Development (RandD) in the overall Bunker Fuel market.
Table of Contents included in Bunker Fuel Market 2020 Report -
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
2.2 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market segmentation analysis
PART 04: PIPELINE ANALYSIS
PART 05: MARKET SIZING