According to Persistence Market Research, the global bunker fuel market is anticipated to witness significant market valuation and a robust growth rate during the period of assessment 2017-2025. The global bunker fuel market has seen positive growth path since past couple of years. In 2016, the global bunker fuel market was valued at around US$ 135 Bn and is estimated to reach a value a bit under US$ 250 Bn by the end of the year of assessment (2025). In 2017, the global market for bunker fuel reflected a value higher than US$ 140 Bn and it is projected to grow at a high CAGR of 7.4% throughout the period of assessment, 2017-2025. This high growth is attributed towards increasing hydrogen resource development activities in offshore areas resulting in increased requirement for bunker fuel and rapidly increasing bunker requirements in crude oil and product tankers. On the other hand, factors like fuel reduction initiatives by global shipping industry and emergence of LNG fuel technology as an alternative to bunker fuel are expected to challenge the growth of the global bunker fuel market in the coming years.
Other IFO segment to cement its dominance in the global market over the period of assessment
Type category is one of the most important categories defining the bunker fuel market. Other IFO segment in the type category is the largest segment with a high market share and valuation. In 2017, this segment was the second largest with a value of around US$37 Bn. However, it is expected to gain high traction in the coming years and is estimated to reach a value higher than US$ 170 Bn by the end of the year of assessment (2025). This segment is projected to grow at the highest value CAGR of 21.1% during the period of forecast. Additionally, the other IFO segment is also expected to show a high volume CAGR during the 2017 – 2025 timeline. By 2025 end, the other IFO segment is expected to reflect a high market share of about 70% thus dominating the global market and significantly contributing to its revenue growth.
IFO 180 to lose growth points in the coming years; a huge decrease in BPS to strike IFO 180
IFO (Intermediate Fuel Oil) 180 segment in the type category is anticipated to lose its market value in the coming years. This segment lead the market in 2017 with a high value of US$ 77 Bn. It is also anticipated to continue its dominance till 2019. However, after 2019, IFO 180 is poised to lose its market share. 2020-2025 timeline is expected to be unhealthy for the growth of this segment. IFO 180 is projected to grow at a negative value CAGR during this period and is anticipated to lose 4110 BPS by the end of the assessment period. IFO (Intermediate Fuel Oil) 380 segment in this category is also expected to grow at negative rate to reach an estimate of around US$ 5 Bn by the end of the assessment year. This major reason for these segments to witness negative growth is strict emission norms regarding sulfur emission and hence shipping companies are exploring different options of other fuel alternatives that reflect lower sulfur content.
A comprehensive, systematically structured research report titled “Bunker Fuel Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” by Persistence Market Research enables the reader to chalk down strategies to progress with the changing pace of the global market scenario. The research report is backed up with a unique research methodology, which presents data and statistics with high precision. The global bunker fuel market research report covers an in-depth market segmentation which covers all angles of the market thus giving a 3600 view delivering necessary value addition from a strategic standpoint.
Benefit with a unique research process
The research carried out for analyzing the bunker fuel market follows an elite research methodology that increases the accuracy percentage by reducing the deviations to a great extent. The one of its kind research methodology follows a repetitive pattern wherein each data point of every single parameter of each and every segment is evaluated multiple times and a re-validation gives a finishing touch that offers high precision with reduced errors followed by a triangulation method that raises the aspect ratio of credibility. There is no room for miscalculations due to such a streamlined and structured research process. Managed by domain experts, the analysts have crafted the bunker fuel market research report in such a way that it can be easily understood owing to simple yet matchless report structure.
Benefit from global market perspective
The comprehensiveness of the global bunker fuel market research report is due to a unique research process with which every angle present in every segment and sub-segment of the global market with respect to each sub region of all important geographies is covered, that gives a holistic touch to the research study.
The reader can get a broad idea regarding implementation of marketing strategies in order to achieve informed growth in the years to come. The geographical cover up includes intelligence on important landscapes of North America, Europe, Latin America, Asia-pacific and Middle East and Africa (MEA). Several aspects are analyzed which have an impact on the bunker fuel market growth along with the opportunities and threats that these regions reflect. Moreover, the macroeconomic aspects, trends, drivers and challenges are also discussed in this research study.
Weighted analysis on key players
The global bunker fuel market research report dedicates an entire research chapter on competitive intelligence, which reflects key details of various tier companies involved in the market. The details such as company overview, product portfolio, SWOT analysis, key innovations and developments, key financial intelligence of these key players have been included in the research study.
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