LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Global Fuel Oil Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the utilities industry. This report breaks down the data and analysis behind the procurement of fuel oil and acts as an all-inclusive guide for making smart purchasing decisions.
“The demand for fuel oil utilities is expected to grow during the forecast period mainly due to the rise in the use of fuel oil in transportation facilities and industrial sectors such as manufacturing and aviation,” says SpendEdge procurement research analyst Tridib Bora. “The fuel oil utilities market in MEA is expected to grow further due to the improvements in economies such as Saudi Arabia, the UAE, and Kuwait,” added Tridib.
Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
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- The increasing growth of the global fuel oil utilities market can be attributed to the growing demand for fuel in developing economies due to the growth of transportation infrastructure and the rise in industrial activities such as manufacturing and power generation. In order to meet the growing demand from developing economies such as China, India, and Thailand fuel oil suppliers have increased their spend in the fuel oil utilities sector.
- Procurement professionals should ensure that fuel oil suppliers are capable of delivering the required quality, quantity, and variety of fuel oil within a stipulated timeline. Also, buyers must assess suppliers' fuel oil production process to ensure compliance with government guidelines and environmental regulations.
- One of the major procurement challenges faced buyers in this market include the difficulty in identifying suppliers that comply with energy efficient refinery process for the production of fuel oil. Also, buyers face a challenge in terms of identifying the quality of crude oil being used and this will subsequently affect the quality of fuel oil. To overcome these challenges, the buyers need to adopt systematic procurement practices that can provide real-time tracking of fuel oil during its transit through pipelines, tankers, or railroads. Also engaging with suppliers that utilize cutting-edge technologies would greatly benefit the buyers.
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Global Fuel Oil Utilities Market Pricing Trends
The most widely adopted pricing model in the global fuel oil utilities market is the block and index-based pricing model because it provides a pass-through structure that allows the buyer to take advantage of reduced demands. Also, the buyers can take advantage of market dips by locking a large amount of fuel oil when prices are relatively low. The fixed-fee pricing model offers the buyers the advantage of effective price comparison by potential suppliers. The indexed-pricing model buyers get the flexibility to capitalize on market price fluctuations.
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