DUBLIN--(BUSINESS WIRE)--The "Bunker Fuel Market by Type and Geography - Forecast and Analysis 2020-2024" report has been added to ResearchAndMarkets.com's offering.
Global Bunker Fuel Market: About this market
The 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.
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.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TYPE
- Market segmentation by type
- Comparison by type
- High sulfur fuel - Market size and forecast 2019-2024
- Low sulfur fuel - Market size and forecast 2019-2024
- Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Development of scrubber technology
- Development of emulsified fuels
- Adoption of modular mini refineries
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- 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
- TOTAL SA
For more information about this report visit https://www.researchandmarkets.com/r/o75g6p