The United Kingdom Bunker Fuel Market research report provides detailed observation of several aspects, including the rate of growth, regional scope and technological developments by the primary market players. The report offers Porter’s Five Forces, PESTEL, and market analysis to provide a 360-degree research study on the United Kingdom Bunker Fuel market. The research study discusses about important market strategies, future plans, market share growth, and product portfolios of leading companies. The final report copy provides the impact analysis of novel COVID-19 pandemic on the United Kingdom Bunker Fuel market as well as fluctuations during the forecast period.
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., Mrsk A/S, Greenergy International Ltd., Phillips 66, and Rosneft Marine UK Ltd.
The United Kingdom bunker fuel market is expected to grow at a CAGR of more than 14% during 2020 – 2025.
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Key Market Trends
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.
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.
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The United Kingdom Bunker Fuel market report highlights are
– A comprehensive evaluation of all opportunities and risks in the market.
– United Kingdom Bunker Fuel current developments and significant occasions.
– A deep study of business techniques for the development of the market-driving players.
– Conclusive study about the improvement plot of the market for approaching years.
– Top to the bottom approach of market-express drivers, targets, and major littler scale markets.
– Favorable impressions inside imperative mechanical and publicize the latest examples striking the United Kingdom Bunker Fuel market.
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