Marine bunker oil is used in ship bunkers to power the ship engines. Majority of the marine bunker oils are classified into two types, residual fuel and distillate fuel. Residual fuel is the leftover fuel after the extraction of light hydrocarbon such as gasoline and diesel from the crude oil. Marine bunker oil is largely used by commercial shipping, military shipping, and leisure shipping industries.
Increase in marine trade and surge in ship production drive the growth of the marine bunker oil market. Furthermore, low cost of marine bunker fuels its demand, thereby supplementing the market growth. However, harmful and polluting effects of marine bunker oil hinder the market growth.
The marine bunker oil market is segmented on the basis of type, application, and geography. By type, the market is divided into residual fuel and distillate fuel. The application covered in the study include commercial shipping, military shipping, and leisure shipping. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major player analyzed in this report are BP P.L.C., Chemoil Energy Limited, Cockett Marine Oil, Sentek Marine & Trading, Transocean Oil Pte Ltd, Total Marine Fuels, ExxonMobil, Panoil Petroleum, Royal Dutch Shell plc, and Consort Bunkers Pte Ltd.
- The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the investment pockets.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of different segments facilitates to understand various products of the market.
- Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
Marine Bunker Oil Market Key Segments:
- Residual Fuel
- Distillate Fuel
- Commercial Shipping
- Military Shipping
- Leisure Shipping
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA