North America Bunker Fuel Market 2024-2033 by Fuel Type (VLSFO, HSFO, MGO, LNG), Fuel Grade (Bunker A, Bunker B, Bunker C), Vessel Type (Bulk Carriers, Tankers, Containers, General Cargo, Others), Seller Type (Major Oil Companies, Leading Independent Sellers, Small Independent Sellers), and Country: Trend Forecast and Growth Opportunity
- Report ID: 65272
- Date: May, 2024
- Pages: 101
- Category: Energy & Power
North America bunker fuel market is projected to grow by 5.8% annually in the forecast period and reach $34,510 million by 2032, driven by the escalating demand for international seaborne trade, the rising oil and gas exploration activities in deep offshore areas, the government supports on strengthening geographical border security, and the rising R&D projects to develop clean and eco-friendly fuels.
Highlighted with 22 tables and 45 figures, this 101-page report “North America Bunker Fuel Market 2022-2032 by Fuel Type (VLSFO, HSFO, MGO, LNG), Fuel Grade (Bunker A, Bunker B, Bunker C), Vessel Type (Bulk Carriers, Tankers, Containers, General Cargo, Others), Seller Type (Major Oil Companies, Leading Independent Sellers, Small Independent Sellers), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America bunker fuel market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify North America bunker fuel market in every aspect of the classification from perspectives of Fuel Type, Fuel Grade, Vessel Type, Seller Type, and Country.
Based on Fuel Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Very Low Sulfur Fuel Oil (VLSFO)
• High Sulfur Fuel Oil (HSFO)
• Marine Gas Oil (MGO)
• Liquefied Natural Gas (LNG)
• Other Fuel Types
Based on Fuel Grade, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Bunker A
• Bunker B
• Bunker C
By Vessel Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Bulk Carriers
• Tankers
• Containers
• General Cargo
• Other Vessel Types
By Seller Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Major Oil Companies
• Leading Independent Sellers
• Small Independent Sellers
Geographically, the following national/local markets are fully investigated:
• U.S.
• Canada
• Mexico
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2032. The breakdown of national markets by Fuel Type, Vessel Type and Seller Type over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG)
BP PLC
Bunker Holding A/S
Chevron Corporation
China COSCO Shipping Corporation Limited
Clipper Oil
Evergreen Marine Corp Taiwan Ltd.
Exxon Mobil Corporation
Fuel Suppliers
Gazprom Marine Bunker LLC
Gulf Agency Company Ltd.
Neste Corporation
Pacific International Lines Pte Ltd.
PJSC (Lukoil Oil Company)
Shell Plc
TotalEnergies SE
World Fuel Services Corporation
Yang Ming Marine Transport Corporation
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1 Introduction 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 8
1.2 Research Methodology 11
1.2.1 Overview of Market Research Methodology 11
1.2.2 Market Assumption 12
1.2.3 Secondary Data 12
1.2.4 Primary Data 12
1.2.5 Data Filtration and Model Design 13
1.2.6 Market Size/Share Estimation 14
1.2.7 Research Limitations 15
1.3 Executive Summary 16
2 Market Overview and Dynamics 19
2.1 Market Size and Forecast 19
2.1.1 Impact of COVID-19 on World Economy 20
2.1.2 Impact of COVID-19 on the Market 23
2.2 Major Growth Drivers 25
2.3 Market Restraints and Challenges 31
2.4 Emerging Opportunities and Market Trends 34
2.5 Porter’s Fiver Forces Analysis 38
3 Segmentation of North America Market by Fuel Type 42
3.1 Market Overview by Fuel Type 42
3.2 Very Low Sulfur Fuel Oil (VLSFO) 44
3.3 High Sulfur Fuel Oil (HSFO) 45
3.4 Marine Gas Oil (MGO) 47
3.5 Liquefied Natural Gas (LNG) 48
3.6 Other Fuel Types 50
4 Segmentation of North America Market by Fuel Grade 51
4.1 Market Overview by Fuel Grade 51
4.2 Bunker A 53
4.3 Bunker B 54
4.4 Bunker C 55
5 Segmentation of North America Market by Vessel Type 56
5.1 Market Overview by Vessel Type 56
5.2 Bulk Carriers 58
5.3 Tankers 59
5.4 Containers 60
5.5 General Cargo 61
5.6 Other Vessel Types 62
6 Segmentation of North America Market by Seller Type 63
6.1 Market Overview by Seller Type 63
6.2 Major Oil Companies 65
6.3 Leading Independent Sellers 66
6.4 Small Independent Sellers 67
7 North America Market 2022-2032 by Country 68
7.1 Overview of North America Market 68
7.2 U.S. 71
7.3 Canada 74
7.4 Mexico 76
8 Competitive Landscape 78
8.1 Overview of Key Vendors 78
8.2 New Product Launch, Partnership, Investment, and M&A 81
8.3 Company Profiles 82
Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG) 82
BP PLC 84
Bunker Holding A/S 85
Chevron Corporation 86
China COSCO Shipping Corporation Limited 87
Clipper Oil 88
Evergreen Marine Corp Taiwan Ltd. 89
Exxon Mobil Corporation 90
Fuel Suppliers 91
Gazprom Marine Bunker LLC 92
Gulf Agency Company Ltd. 93
Neste Corporation 94
Pacific International Lines Pte Ltd. 95
PJSC (Lukoil Oil Company) 96
Shell Plc 97
TotalEnergies SE 98
World Fuel Services Corporation 99
Yang Ming Marine Transport Corporation 100
RELATED REPORTS 101
List of Tables
List of Tables:
Table 1. Snapshot of North America Bunker Fuel Market in Balanced Perspective, 2022-2032 17
Table 2. World Economic Outlook, 2021-2031 21
Table 3. World Economic Outlook, 2021-2023 22
Table 4. Fleet Ownership and Registration by Main Economies, 1 January 2022, Number of vessels and Thousands of dead-weight tons 29
Table 5. Main Product Trends and Market Opportunities in North America Bunker Fuel Market 34
Table 6. North America Bunker Fuel Market by Fuel Type, 2022-2032, $ mn 42
Table 7. North America Bunker Fuel Market by Fuel Grade, 2022-2032, $ mn 51
Table 8. North America Bunker Fuel Market by Vessel Type, 2022-2032, $ mn 56
Table 9. North America Bunker Fuel Market by Seller Type, 2022-2032, $ mn 63
Table 10. North America Bunker Fuel Market by Country, 2022-2032, $ mn 69
Table 11. U.S. Bunker Fuel Market by Fuel Type, 2022-2032, $ mn 73
Table 12. U.S. Bunker Fuel Market by Vessel Type, 2022-2032, $ mn 73
Table 13. U.S. Bunker Fuel Market by Seller Type, 2022-2032, $ mn 73
Table 14. Canada Bunker Fuel Market by Fuel Type, 2022-2032, $ mn 75
Table 15. Canada Bunker Fuel Market by Vessel Type, 2022-2032, $ mn 75
Table 16. Canada Bunker Fuel Market by Seller Type, 2022-2032, $ mn 75
Table 17. Mexico Bunker Fuel Market by Fuel Type, 2022-2032, $ mn 77
Table 18. Mexico Bunker Fuel Market by Vessel Type, 2022-2032, $ mn 77
Table 19. Mexico Bunker Fuel Market by Seller Type, 2022-2032, $ mn 77
Table 20. Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG): Company Snapshot 82
Table 21. Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG): Business Segmentation 83
Table 22. Bomin Bunker Holding GmbH & Co. KG (Marquard & Bahls AG): Product Portfolio 83
List of Figures
List of Figures:
Figure 1. Research Method Flow Chart 11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 14
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 16
Figure 4. North America Bunker Fuel Market, 2022-2032, $ mn 19
Figure 5. Impact of COVID-19 on Business 23
Figure 6. Primary Drivers and Impact Factors of North America Bunker Fuel Market 25
Figure 7. World Shipbuilding Capacity by Country, 2013 – 2026F, million CGT 28
Figure 8. Fleet Market by Region of Beneficial Ownership, 2022, Millions of dead-weight tons 28
Figure 9. World Crude Oil Production, 2000-2021, million tons 30
Figure 10. Primary Restraints and Impact Factors of North America Bunker Fuel Market 31
Figure 11. Investment Opportunity Analysis 35
Figure 12. Porter’s Fiver Forces Analysis of North America Bunker Fuel Market 38
Figure 13. Breakdown of North America Bunker Fuel Market by Fuel Type, 2022-2032, % of Revenue 43
Figure 14. North America Addressable Market Cap in 2023-2032 by Fuel Type, Value ($ mn) and Share (%) 43
Figure 15. North America Bunker Fuel Market by Fuel Type: Very Low Sulfur Fuel Oil (VLSFO), 2022-2032, $ mn 44
Figure 16. North America Bunker Fuel Market by Fuel Type: High Sulfur Fuel Oil (HSFO), 2022-2032, $ mn 45
Figure 17. Total Number of Ships with Scrubbers Installed by the End of 2020 by Ship Type 46
Figure 18. North America Bunker Fuel Market by Fuel Type: Marine Gas Oil (MGO), 2022-2032, $ mn 47
Figure 19. North America Bunker Fuel Market by Fuel Type: Liquefied Natural Gas (LNG), 2022-2032, $ mn 48
Figure 20. World Cumulative LNG Carrier Fleet, 1991-2020 49
Figure 21. World Combined Capacity of LNG Carriers, 1991-2020, MTPA 49
Figure 22. North America Bunker Fuel Market by Fuel Type: Other Fuel Types, 2022-2032, $ mn 50
Figure 23. Breakdown of North America Bunker Fuel Market by Fuel Grade, 2022-2032, % of Sales Revenue 52
Figure 24. North America Addressable Market Cap in 2023-2032 by Fuel Grade, Value ($ mn) and Share (%) 52
Figure 25. North America Bunker Fuel Market by Fuel Grade: Bunker A, 2022-2032, $ mn 53
Figure 26. North America Bunker Fuel Market by Fuel Grade: Bunker B, 2022-2032, $ mn 54
Figure 27. North America Bunker Fuel Market by Fuel Grade: Bunker C, 2022-2032, $ mn 55
Figure 28. Breakdown of North America Bunker Fuel Market by Vessel Type, 2022-2032, % of Sales Revenue 57
Figure 29. North America Addressable Market Cap in 2023-2032 by Vessel Type, Value ($ mn) and Share (%) 57
Figure 30. North America Bunker Fuel Market by Vessel Type: Bulk Carriers, 2022-2032, $ mn 58
Figure 31. North America Bunker Fuel Market by Vessel Type: Tankers, 2022-2032, $ mn 59
Figure 32. North America Bunker Fuel Market by Vessel Type: Containers, 2022-2032, $ mn 60
Figure 33. North America Bunker Fuel Market by Vessel Type: General Cargo, 2022-2032, $ mn 61
Figure 34. North America Bunker Fuel Market by Vessel Type: Other Vessel Types, 2022-2032, $ mn 62
Figure 35. Breakdown of North America Bunker Fuel Market by Seller Type, 2022-2032, % of Revenue 64
Figure 36. North America Addressable Market Cap in 2023-2032 by Seller Type, Value ($ mn) and Share (%) 64
Figure 37. North America Bunker Fuel Market by Seller Type: Major Oil Companies, 2022-2032, $ mn 65
Figure 38. North America Bunker Fuel Market by Seller Type: Leading Independent Sellers, 2022-2032, $ mn 66
Figure 39. North America Bunker Fuel Market by Seller Type: Small Independent Sellers, 2022-2032, $ mn 67
Figure 40. Breakdown of North America Bunker Fuel Market by Country, 2022 and 2032, % of Revenue 69
Figure 41. Contribution to North America 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 70
Figure 42. U.S. Bunker Fuel Market, 2022-2032, $ mn 72
Figure 43. Canada Bunker Fuel Market, 2022-2032, $ mn 74
Figure 44. Bunker Fuel Market in Mexico, 2022-2032, $ mn 76
Figure 45. Growth Stage of North America Bunker Fuel Industry over the Forecast Period 78
Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.
In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.
This research methodology has been segmented into following types:
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It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.
Secondary Research:
The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.
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It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.
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It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.
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