Market Size of South America Bunker Fuel Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 14.74 Billion |
| Market Size (2029) | USD 18.61 Billion |
| CAGR (2024 - 2029) | 4.80 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Bunker Fuel Market Analysis
The South America Bunker Fuel Market size is estimated at USD 14.74 billion in 2024, and is expected to reach USD 18.61 billion by 2029, growing at a CAGR of 4.80% during the forecast period (2024-2029).
- Over the medium term, factors such as the ever-rising marine transportation of essential commodities and implementation of stricter environmental regulations driving the demand for cleaner bunker fuels drive the growth in the South American bunker fuel market.
- On the other hand, the oil market’s volatility is significantly expected to affect the bunker fuel market as it can impact the profitability of bunker fuel suppliers and make planning and investing difficult.
- Nevertheless, the increase in the use of clean bunker fuels creates a significant opportunity for the South American bunker fuel market.
- Brazil is expected to dominate the bunker fuel market in the region owing to factors like substantial crude oil production and a steady rise in exports from the country.
