糖心vlog传媒

logo

UK Bunker Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The UK Bunker Fuel Market is segmented by Fuel Type (High Sulfur Fuel Oil (HSFO), Very-Low Sulfur Fuel Oil (VLSFO), Marine Gas Oil (MGO), Liquefied Natural Gas (LNG), and Others), Vessel Type (Containers, Tankers, General Cargo, Bulk Container, and Others).

Home Market Analysis Energy & Power Research Oil and Gas Research Downstream Research Refined Petroleum Products Research Bunker Fuel Research UK Bunker Fuel Industry

UK Bunker Fuel Market Size

View Global Report
united kingdom bunker fuel market overview
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 14.00 %

Major Players

united kingdom bunker fuel market companies

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of United Kingdom Bunker Fuel Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

UK Bunker Fuel Market Analysis

The United Kingdom bunker fuel market is expected to grow at a CAGR of more than 14% during the forecast period of 2020-2025. The bunker fuel market in the region is mainly driven by the ever-rising marine transportation of essential commodities, implementation of the stricter environmental regulations driving the demand for cleaner bunker fuels, and the increase in the use of vessels for offshore oil and gas developments. Moreover, the United Kingdom Continental Shelf (UKCS) region is expected to become one of the most active marine areas for maritime transport, which likely to drive the United Kingdom bunker fuel market during the forecast period. However, the outbreak of COVID-19, leading to a global economic slowdown and a drop in maritime imports and exports are likely to restrain the growth of the United Kingdom bunker fuel market in the coming years.

  • The Very-Low Sulfur Fuel Oil (VLSFO) is expected to witness significant growth in the market during the forecast period, owing to factors like IMO 2020 Regulations that came into effect from January 1st, 2020.
  • Developing sea trade routes and recovery in international maritime trade may offer tremendous opportunities for bunker fuel suppliers in the region.
  • The United Kingdom witnessed a surge in the bunker fuel market owing to government policies and an increase in maritime trade.

UK Bunker Fuel Market Trends

This section covers the major market trends shaping the UK Bunker Fuel Market according to our research experts:

Very Low Sulphur Fuel Oil (VLSFO) to Witness Significant Growth

  • Very Low Sulfur Fuel Oil (VLSFO) is expected to witness significant growth in the forecast period, owing to factors like IMO 2020 regulations that came into effect on 1st January 2020, and rising environmental concerns over high greenhouse gases emissions from the marine sector.
  • The demand for VLSFO saw a steady growth since 2019 and a significant increase since January 2020 due to the IMO 2020 Regulations coming into effect.
  • Major players of the region such as Allantone Supplies Limited, ConocoPhillips Ltd., ExxonMobil, GB Oils Ltd., etc. had started the supply of VLSFO ahead of the imposition of IMO 2020.
  • In 2020, the United Kingdom bunker supplier Greenergy has merged with BG fuels for the expansion of the company in European bunker fuel. BG fuels have chartered two new barges to operate in the United Kingdom bunker fuel market with the latest IMO 2020 regulation.
  • Moreover, High Sulphur fuel oil (HSFO) has remained the most common fuel used in the shipping industry until 2019. Furthermore, in 2020, the crude price also collapsed, which promote many shipowners to buy more bunker fuel for storage purposes,s which double the sales of marine fuel in the United Kingdom.
  • Therefore, with the increase in the demand for cleaner fuel and the implementation of IMO 2020 Regulations, shallow sulfur fuel oil (VLSFO) is expected to rise significantly in the forecast period.
united kingdom bunker fuel market trends

Government Policies and Increase in Maritime Trade to Drive the Market

  • The United Kingdom has a long maritime history and is expected to be the most significant naval sector in Europe, resulting in increased concerns for maritime emissions as compared to other countries of Europe.
  • Furthermore, after the implementation of Brexit, trade movement between the United Kingdom and other regions is expected to increase further. Moreover, the United Kingdom Continental Shelf (UKCS) region is expected to become one of the most active offshore areas for maritime transport, which is likely to boost the bunker fuel market in the country.
  • As of 2019, the United Kingdom is one of the world's top 10 exporters in terms of the value of goods exported. The United Kingdom exported USD 469.2 billion worth of goods around the globe, in 2019, amongst which over 3/4th of the exports are done through sea route.
  • Some of the significant firms providing bunker fuels in the country, including Greenergy and Maersk, started the supply of VLSFO in the fourth quarter of 2019, before the imposition of IMO 2020. This led to the oversupply of HSFO in the market owing to delay in the installation of scrubber systems and increasing usage of VLSFO.
  • To implement a sustainable and environmentally friendly transport network, the United Kingdom government, along with various oil and gas and shipping operators, has promoted the use of LNG powered marine transport.
  • Although only a limited number of ships currently bunker with LNG in the United Kingdom, it is expected to witness significant demand, as regulation to meet International Maritime Organization and European Union's 2020 emission standard increases.
  • Therefore, factors such as government policies, marine transport, and IMO regulation are expected to drive the bunker fuel market.
united kingdom bunker fuel market growth rate

UK Bunker Fuel Industry Overview

The United Kingdom bunker fuel market is moderately consolidated. Some of the major players in this market include ConocoPhillips Ltd., Exxon Mobil Corporation, BP PLC, Shell Marine Products Ltd., Henty Oil Ltd., Total S.A, Maritime Bunkering Ltd., M忙rsk A/S, Greenergy International Ltd., Phillips 66, and Rosneft Marine UK Ltd.

UK Bunker Fuel Market Leaders

  1. ConocoPhillips Ltd

  2. Exxon Mobil Corporation

  3. BP PLC

  4. Shell Marine Products Ltd.

  5. Total S.A

*Disclaimer: Major Players sorted in no particular order

ConocoPhillips Ltd., Exxon Mobil Corporation, BP PLC, Shell Marine Products Ltd., Henty Oil Ltd., Total S.A.
Need More Details on Market Players and Competitors?
Download PDF

UK Bunker Fuel Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Market Dynamics

      1. 4.4.1 Drivers

      2. 4.4.2 Restraints

    5. 4.5 Supply Chain Analysis

    6. 4.6 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 High Sulfur Fuel Oil (HSFO)

      2. 5.1.2 Very-Low Sulfur Fuel Oil (VLSFO)

      3. 5.1.3 Marine Gas Oil (MGO)

      4. 5.1.4 Liquefied Natural Gas (LNG)

      5. 5.1.5 Others

    2. 5.2 Vessel Type

      1. 5.2.1 Containers

      2. 5.2.2 Tankers

      3. 5.2.3 General Cargo

      4. 5.2.4 Bulk Container

      5. 5.2.5 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 ConocoPhillips Ltd.

      2. 6.3.2 Exxon Mobil Corporation

      3. 6.3.3 GB Oils Ltd.

      4. 6.3.4 BP PLC

      5. 6.3.5 Shell Marine Products Ltd.

      6. 6.3.6 Henty Oil Ltd.,

      7. 6.3.7 Maritime Bunkering Ltd.

      8. 6.3.8 M忙rsk A/S

      9. 6.3.9 Greenergy International Ltd.

      10. 6.3.10 Phillips 66

      11. 6.3.11 Rosneft Marine UK Ltd.

    4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

UK Bunker Fuel Industry Segmentation

The United Kingdom bunker fuel market report includes:

Type
High Sulfur Fuel Oil (HSFO)
Very-Low Sulfur Fuel Oil (VLSFO)
Marine Gas Oil (MGO)
Liquefied Natural Gas (LNG)
Others
Vessel Type
Containers
Tankers
General Cargo
Bulk Container
Others
Need A Different Region Or Segment?
Customize Now

UK Bunker Fuel Market Research FAQs

The United Kingdom Bunker Fuel Market is projected to register a CAGR of greater than 14% during the forecast period (2024-2029)

ConocoPhillips Ltd , Exxon Mobil Corporation , BP PLC , Shell Marine Products Ltd. and Total S.A are the major companies operating in the United Kingdom Bunker Fuel Market.

The report covers the United Kingdom Bunker Fuel Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Bunker Fuel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

UK Bunker Fuel Industry Report

Statistics for the 2024 UK Bunker Fuel market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. UK Bunker Fuel analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

UK Bunker Fuel Market Report Snapshots

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

UK Bunker Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)