Bunker Oil Market 2021-2025 | High Demand from China and India to Boost Growth
BP Plc, Chevron Corp., China National Petroleum Corp., Exxon Mobil Corp., Hindustan Petroleum Corp. Ltd. are among the key vendors discussed in the research report
Technavio has been monitoring the bunker oil market and it is expected to grow by 79.59 million tons, accelerating at a CAGR of almost 4.68% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Bunker Oil Market: Emerging Trends to Impact Market Growth
APAC has been exhibiting a significant growth rate for bunker oil market vendors. Factors such as the increasing fuel demand in China and India are accelerating the bunker oil market growth in the region. Growth by the residual fuel segment will be significant during the forecast period. The demand from smaller vessels such as barges for distillate fuel will drive the distillate fuel segment growth during 2021-2025.
This report provides an accurate prediction of the contribution of all the segments to the growth of the bunker oil market size. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Bunker Oil Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BP Plc, Chevron Corp., China National Petroleum Corp., Exxon Mobil Corp., Hindustan Petroleum Corp. Ltd., Marquard and Bahls AG, Public Joint Stock Company Gazprom, Royal Dutch Shell Plc, TotalEnergies SE, and Toyota Tsusho Petroleum Pte. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations. For more insights into this market: Download a Free Sample Report
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