The United States 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 States 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 States Bunker Fuel market as well as fluctuations during the forecast period.
Some of the major players in the market include Exxon Mobil Corporation, Royal Dutch Shell PLC, Chevron Corporation, Clipper Oil Company, and NuStar Energy L.P.
The United States bunker fuel market is expected to grow at a CAGR of more than 10% over the forecast period.
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Key Market Trends
Very-Low Sulfur Fuel Oil (VLSFO) Segment is Expected to Witness Significant Growth
– The refining industry players in the country have indicated that they have enough infrastructure to meet the low-Sulphur conventional fuel requirements according to IMO regulations. The LNG bunkering infrastructure in the country is also relatively un-developed. Hence, the conventional fuel is expected to maintain the dominance in the bunker fuel industry during the forecast period.
– Marine fuel containing less than 0.5% of sulfur is generally termed as very-low sulfur fuel oil. Very-low sulfur fuel oil did not witness demand as a bunker fuel till 2019. However, the deadline for IMO 2020 led to an increase in the demand for VLSFO. From January 1, 2020, HSFO can only be used in ships having scrubbers installed to reduce the emissions.
Growth of Natural Gas Trade is Likely to Drive the Market
– LNG or natural gas is a cleaner form of energy emitting lesser carbon particles than other petroleum products or other fossil fuels, like coal.
– With an increasing consumption rate of natural gas, on account of mounting environmental concerns in the United States, is expected to ramp up production capacities of their oil and gas fields. The United States’ natural gas consumption in 2019 was about 846.6 billion cubic meters, the highest annual amount recorded.
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The United States Bunker Fuel market report highlights are
– A comprehensive evaluation of all opportunities and risks in the market.
– United States 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 States Bunker Fuel market.
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