| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 10.00% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Bunker Fuel Market Analysis by Mordor Intelligence
The United States Bunker Fuel Market is expected to register a CAGR of greater than 10% during the forecast period.
- Very-low Sulfur Fuel Oil (VLSFO) segment is expected to have significant growth in the Unites States bunker fuel market over the forecast period.
- Methanol is a safe, cost-efficient fuel. With the growing demand for cleaner marine fuel, methanol is an alternative fuel for ships that helps the shipping industry meet increasingly strict emissions regulations, which in turn is likely to provide an opportunity for the market in the future.
- Growth of natural gas trade is likely to drive the United States bunker fuel market during the forecast period.
United States Bunker Fuel Market Trends and Insights
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.
- Most of the high-sulfur fuel oil (HSFO) bunker fuel market is expected to be shortly replaced by low-sulfur alternatives. Most of the VLSFO available in the market is blended from residual and distillate components, which are blended with numerous cutters of varying sulfur and viscosity to create an on-specification product.
- The demand for VLSFO witnessed a significant growth since January 2020, due to the IMO 2020 Regulations coming into effect. However, due to the weak demand caused by the outbreak of COVID-19, the price, as well as the demand for VLSFO, declined.
- Moreover, the demand for VLSFO is expected to rise with the control of the outbreak in the major import and export countries, like China and the United States. The demand for VLSFO is expected to revive after mid-2021. Post 2020, the demand is likely to rise on account of opening of all the trade routes and relative price rise.
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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.
- Technology, such as unconventional directional drilling techniques, supported the United States to increase the production volume of shale gas from basins, like Marcellus and Permian basins. Moreover, the United States planned to be a net exporter of energy by 2020, including the export of petroleum products, natural gas, coal, and coke.
- Thus, the factors mentioned above are likely to act as a driver for the growth of natural gas trade in the country. This, in turn, would increase cleaner vessel movements. Thus, it would support the bunker fuel market's growth during the forecast period.
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Competitive Landscape
The United States bunker fuel market is moderately consolidated. 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.
United States Bunker Fuel Industry Leaders
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Exxon Mobil Corporation
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Royal Dutch Shell PLC
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Chevron Corporation
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Clipper Oil Company
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NuStar Energy L.P.
- *Disclaimer: Major Players sorted in no particular order
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United States Bunker Fuel Market Report Scope
The United States bunker fuel market report includes:
Fuel Type
| High Sulfur Fuel Oil (HSFO) |
| Very-low Sulfur Fuel Oil (VLSFO) |
| Marine Gas Oil (MGO) |
| Liquefied Natural Gas (LNG) |
| Others |
Vessel Type
| Tanker Fleet |
| Container Fleet |
| Bulk Carrier |
| General Cargo Carriers |
| Others |
| Fuel Type | High Sulfur Fuel Oil (HSFO) |
| Very-low Sulfur Fuel Oil (VLSFO) | |
| Marine Gas Oil (MGO) | |
| Liquefied Natural Gas (LNG) | |
| Others | |
| Vessel Type | Tanker Fleet |
| Container Fleet | |
| Bulk Carrier | |
| General Cargo Carriers | |
| Others |
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Key Questions Answered in the Report
What is the current United States Bunker Fuel Market size?
The United States Bunker Fuel Market is projected to register a CAGR of greater than 10% during the forecast period (2025-2030)
Who are the key players in United States Bunker Fuel Market?
Exxon Mobil Corporation, Royal Dutch Shell PLC, Chevron Corporation, Clipper Oil Company and NuStar Energy L.P. are the major companies operating in the United States Bunker Fuel Market.
What years does this United States Bunker Fuel Market cover?
The report covers the United States Bunker Fuel Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United States Bunker Fuel Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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United States Bunker Fuel Market Report
Statistics for the 2025 United States Bunker Fuel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Bunker Fuel analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
