Bunkering Service Market Scope
Bunkering services include the supply of marine fuels to ships and other ocean-going vessels such as oil tankers, container vessels, cargo vessels, cruise ships, and ferries, as well as vessels used in the upstream oil and gas industry such as offshore support vessels, submersible and semisubmersible rigs, and FPSO vessels. Bunkering may be divided into two types: onshore bunkering and offshore bunkering. Onshore bunkering is when marine fuel is pumped into boats by refuelling vessels like as barges, product tankers, or other ships in harbours, close to shore, or in open waters. Increased activity in the upstream oil and gas industry, as well as supportive government regulations, will have a beneficial influence on the bunkering services business, helping industry participants that provide bunkering services.
The Bunkering Service market study is segmented and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Bunkering Service market throughout the predicted period.
Bomin Bunker Oil Corp. (United States), Lukoil-Bunker LLC (Russia), Aegean Marine Petroleum Network, Inc. (Switzerland), Chemoil Energy Limited (United States), BP PLC (United Kingdom), World Fuel Services Corporation (United States), Bunker Holding A/S (Denmark), Gazpromneft Marine Bunker LLC (Russia), GAC Bunker Fuels Ltd. (United Arab Emirates) and Royal Dutch Shell Plc (Netherlands) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Exxon Mobil Corporation (United States), Vitol (Switzerland), Minerva Bunkering (Switzerland), Adani Group (India) and KPI Bridge Oil A/S (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Bunkering Service market by Type, Application and Region.
On the basis of geography, the market of Bunkering Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 24th February, 2020 – KPI Bridge Oil (Bunker Holdings Subsidiary) Entered into Merger Agreement with OceanConnect Marine. Under the Deal the Combined Firm will Operate Under the Name KPI OceanConnect. The Contract Expands Bunker Holding Market Presence Across New Regions Globally. and On 1st April, 2020 - Vitol Marine Fuels Acquired Sinanju Tankers Holdings to Gain Access of Singapore Bunker Market. As a Result, Vitol Obtained a Fleet Of 15 Singapore-Flagged Bunker Tankers, Including The 7,990-Dwt Marine Vicky, Singapore's First and Presently Only LNG-Powered Dual Fuel Bunker Tanker.
On 29th August, 2021 – Oman Launched its Sohar Port Fuel Bunkering Services. Hormuz Marine, located in Muscat, Will Supply the Services and Operate An 8,000 Mt Tanker to Distribute Several Grades of Marine Gasoline to Ships Calling at The Port. VLSFO, HFO, MGO, And LSMGO Will Be Available to Ships as They Unload or Transit Through Sohar.
- Rising Volatility in Fuel Prices
- Increasing Activity in Upstream Oil and Gas Industry
- High Investment in Trade and Logistics
- Regulations Promoting Activities Across Marine Sector
- Port Restrictions
- High Freight Costs
- Fierce Competitive Pressure
Key Target AudienceBunkering Service Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Bunkering Service Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.