LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Fuel Oil Utilities Industry - Procurement Market Intelligence Report.
Improving bilateral trade relations among countries are increasing the frequency of the movement of cargoes among countries. As a result, this is creating an exponential demand for bunker fuel which is acting as one of the prominent factors that are driving the spend growth in the fuel oil utilities industry. The increasing induction of commercial aircraft and private jets in the fleets across geographies is further propelling the demand growth of the fuel oil utilities industry. However, the spend momentum of this industry will decelerate at the end of this forecast period owing to the gradual popularity of electric vehicles which is eliminating the need for fossil fuel. Driven by the growing concerns over emissions, most of the enterprises are preferring bio-based fuel oils over fossil-based fuel oils. This is further hindering the spend growth of the fuel oil utilities industry. Request your free sample copy of this fuel oil utilities industry procurement market intelligence report here!
The imposition of the EU directive 2016/802 regulation that bars the usage of heavy fuel oil with over 1% sulfur content is creating a major setback for the fuel oil utilities industry in Europe. However, the increasing demand for jet fuel will continue contributing to the industry spend growth in the region. The fuel oil utilities industry in the US is also witnessing a plummeting demand growth because of end-user’s preference shift towards bio-based fuel oils in the aviation sector. The rapid rate of adoption of electric vehicles and hybrid vehicles will also result in decreasing annual consumption of diesel which will have an adverse impact on the overall category demand in the US market.
This fuel oil utilities industry procurement market intelligence report offers a scrupulous analysis of the supply market forecasts, sustainability and negotiation strategies of top suppliers and buyers. In addition, it also provides information on the total cost of ownership outlook and strategies to cut down on costs. Ask for customized version of this fuel oil utilities industry procurement market intelligence report here for free.
“Buyers are advised to engage with suppliers that have a well-established supply chain that includes maintaining an efficient pipeline infrastructure to transport fuel oil,” says SpendEdge procurement expert Sumit Yadav.
This fuel oil utilities procurement research report has identified the following factors to influence the category growth:
- Locked-in pricing will help buyers to realize cost-savings
- Increasing preference for renewable oil over fossil fuel oil by end-users will hinder the category spend momentum
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SpendEdge’s procurement market intelligence reports for the utilities category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The report offers information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Fuel oil utilities
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Threat of new entrants
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Category management enablers
- Procurement organization
- Category enablers
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- Category hierarchy
- Category scope
- Category map
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