The Global Bunker Fuel Market is likely to grow considerably in the coming years due to improved fuel quality, with a view to reducing environmental pollution and sea contamination. According to a report by Fortune Business Insights, titled “Bunker Fuel“ Market Size, Share And Global Trend By Fuel Grade (IFO 380, IFO 180, MGO/MDO), By Seller Type(Major Oil Company, Large Independent Distributors, Small Independent Distributors), By End User(Container Fleet, Tanker Fleet, Bulk And General Cargo Fleet), And Geography Forecast Till 2027,” the market is likely to gain traction in the coming years, due to the soaring demand for bunker fuels from all parts of the world.
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Top Players Overview:
- Gazprom Neft
- Chemoil Corporation
- Total Marine Technology
- Petro-Chem Development Co., Inc.
- Exxon Marine Ltd.
- Bunker Holding A/S
- AEGEAN MARINE PETROLEUM S.A.
- Bomin Bunkering
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Increasing trade activities across the world have led to the need for simplified measures and medium for transportation. Business trades carried through seawater transportation are gaining huge popularity due to their exceptional benefits. Fuel bunkers play a huge role in trade activities through ships and other carriers. Furthermore, advancements in fuel bunkers such as the reduction of harmful gases in the content of fuel have led to a huge demand for the product. The report identifies key factors that are responsible for the growth of the market, along with factors that have restrained the growth of the market in recent years.
Key Market Driver – Thriving international shipping transport
Key Market Restraint – Risk to environment and Sulphur 2021 regulation by IMO
Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
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The increased spending on oil and gas across the world is another factor likely to drive the Bunker Fuel Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Bunker Fuel Market.
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
Major Table of Content For Bunker Fuel Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Bunker Fuel Market Analysis, Insights and Forecast, 2027
- North America Bunker Fuel Market Analysis, Insights and Forecast, 2027
- Europe Bunker Fuel Market Analysis, Insights and Forecast, 2027
- Asia Pacific Bunker Fuel Market Analysis, Insights and Forecast, 2027
- Middle East and Africa Bunker Fuel Market Analysis, Insights and Forecast, 2027
- Latin America Bunker Fuel Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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