Bunker Oil Market Report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry, by summing up the previous growth patterns, the growth drivers and the current and future trends.
Los Angeles, CA -- (SBWIRE) -- 03/19/2019 -- Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42 °C (108 °F) and oils burned in cotton or wool-wick burners. Fuel oil is made of long hydrocarbon chains, particularly alkanes, cycloalkanes and aromatics.
The continuously increasing naval expenditure is impacting the market positively. The governments across the globe are increasing their spending to raise the defense capacities of their countries to combat external threats pertaining to security issues. The global military expenditure is likely to increase considerably over the next few years. As a result, the spending will directly reflect the growth of the bunker oil market during the forecast period. Various countries including China, Russia, India, Saudi Arabia, the US, and other countries such as Indonesia and South Korea have increased their military spending substantially over the past few years. This will eventually lead to the growth of the bunker oil market during the forecast period.
APAC accounted for the largest share of the bunker oil market in 2017. According to Technavio's market research analysts, this regional segment is likely to continue its dominance in the marine fuel market throughout the forecast period.
The global Bunker Oil market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
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This report focuses on Bunker Oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Bunker Oil market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
BP
Chevron
Exxon Mobil
Gazprom
HPCL
Royal Dutch Shell
...
Segment by Regions
North America
Europe
China
Japan
Segment by Type
Residual Fuel
Distillate Fuel
Segment by Application
Container Vessels
Tanker Vessels
Bulk & General Cargo Vessels
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