Market Size of India Bunker Fuel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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India Bunker Fuel Market Analysis
The Indian bunker fuel market is expected to register a CAGR of around 4.0% during the forecast period.
- Over the medium term, with a significant increase in LNG trade and upcoming LNG terminals, it is expected to have a growth in LNG carrier traffic in Indian ports, which is expected to have a positive effect on the market's growth during the forecast period.
- On the other hand, fluctuations in crude oil prices and bunker fuel prices are likely to slow market growth.
- Nevertheless, India is a net importer of goods. With the growing demand in trading activities, the port infrastructures are likely to get modernized and enlarged to increase their capacity. As part of the Sagarmala Programme, more than 574 projects were identified for modernization, port connectivity enhancement, and coastal community development during 2015-2035. Around 137 projects are under development in 2019 and are expected to be completed by 2035. Thus, such steps are likely to increase traffic at ports and thus create an opportunity for the market to grow in the near future.
