Global Bunker Fuel Market (2020 to 2025) – by Type, Applications and Geography – ResearchAndMarkets.com
ResearchAndMarkets.com’s offering. The bunker fuel is expected to grow at a compound annual growth rate of 3.47% over the forecast period to reach a market size of US$153.965 billion by 2025 from US$125.469 billion in 2019. Bunker fuel generally refers to the heavy oil used on ships which is the by-product of crude oil. It has been pivotal in the running up the ships for passenger transportation, containers, and special-purpose ships for a substantial period. The stable increase in the demand for the bunker fuel can be attributed to the increase in the demand for transport, and cargo delive...