Bunker Fuel Market Research and Forecast Report 2023-2028

1. Global Bunker Fuel Market Research and Forecast Report 2023-2028 Author: Elena Anderson, Marketing Manager | Copyright © IMARC Service Pvt Ltd. All Rights Reserved IMARC Group © 2019 IMARC All Rights Reserved

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3. Report Description and Highlights Report Description Global Bunker Fuel Market Research Report: The latest report by IMARC, titled “Bunker Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” the global bunker fuel market reached a value of US$ 150.7 Billion in 2022. Bunker fuel is used to power the engines of a ship or marine fleet. It is a heavy, residual oil left over after the extraction of diesel, gasoline, and other light hydrocarbons during the refining process. Bunker fuel is brown to black in color with a characteristic odor and high sulfur content. It is graded A, B or C, with C being the most viscous and thickest fuel, which requires blending or heating to make the liquid flow easily. If mixed with 10 percent of a light fuel, the product becomes a cheap fuel alternative for shipping. Bunker fuel is transported to ships that are engaged in international navigation. Request Free Sample Report: https://www.imarcgroup.com/bunker-fuel-market/requestsample

4. Report Description and Highlights Report Description Global Bunker Fuel Market Trends: One of the major growth-inducing factors of the market is the rising demand for the ship transportation industry. Several ship operators prefer fuel oil with the lowest price as it incurs more than 65% of the total travel expenses. As bunker fuel is emerging as a cost-effective option for the marine and shipping industry, there has been significant growth in the market. Apart from this, rapid technological development and gradual growth in international seaborne trade have also increased the sales of bunker fuel. Additionally, there is a high demand for LNG in the transportation sector as it is a much cleaner and affordable source of energy in comparison to conventional sources. This, in turn, is creating a positive outlook for the market growth. Some of the other factors fueling the market growth are rapid globalization, increasing investments in research and development (R&D) projects to develop clean fuels and government initiatives toward strengthening geographical border security. On account of these factors, the market is expected to experience grow at a CAGR of 6.1% during the forecast period (2023-2028). Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

5. Report Description and Highlights Report Description Market Summary: Breakup by Fuel Type: • High Sulfur Fuel Oil (HSFO) • Very Low Sulfur Fuel Oil (VLSFO) • Marine Diesel Oil (MDO) • Liquefied Natural Gas (LNG) Breakup by Vessel Type: • Containers • Tankers • General Cargo • Bulk Carrier • Others Breakup by Seller: • Major Oil Companies • Leading Independent Sellers • Small Independent Sellers

6. Report Description and Highlights Report Description Breakup by Region: • North America • United States • Canada • Asia Pacific • China • Japan • India • South Korea • Australia • Indonesia • Others • Europe • Germany • France • United Kingdom • Italy • Spain • Russia

7. Report Description and Highlights Report Description • Others • Latin America • Brazil • Mexico • Others • Middle East and Africa

8. Report Description and Highlights Report Description Competitive Landscape with Key Players: • • • • • • • • • • Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG) BP Plc Chevron Corporation Exxon Mobil Corporation Gazprom Neft PJSC (Gazprom) LUKOIL Neste Oyj Petroliam Nasional Berhad (PETRONAS) Royal Dutch Shell Plc TOTAL S.A. View Full Report with TOC & List of Figure: https://www.imarcgroup.com/bunker-fuel-market

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11. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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