Bunker Oil Market witnesses emergence of BP Plc and Chevron Corp. as Key Market Contributors | Technavio

NEW YORK, July 14, 2021 /PRNewswire/ -- According to the latest market research report on Bunker Oil Market from Technavio, the market is expected to expand at a healthy CAGR of 4.68%. The growth can be mainly attributed to the increasing naval expenditure.

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The bunker oil market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.

Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.

This post-pandemic business planning research will aid clients to:

• Addressing Potential Impacts by Facilitating changes in Process Designs
• Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
• Assessing Impact on Critical IT infrastructure and Software System

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Key Considerations for Market Forecast:

• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates

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Top 3 Vendor Analysis of Bunker Oil Market

BP Plc

BP Plc offers industrial fuel namely BP 80 fuel oil, BP fuel oil F60, BP 180 fuel oil, and underground mining fuel.

Chevron Corp.

Chevron Corp. offers methanol as bunker fuel and other marine lubricants which have lower sulfur and lower emissions.

China National Petroleum Corp.

China National Petroleum Corp. offers bunker fuel.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/bunker-oil-market-industry-analysis

Bunker Oil Market 2021-2025: Segmentation

Bunker oil market is segmented as below:

• Product
• Residual Fuel
• Distillate Fuel
• Geography
• APAC
• Europe
• North America
• MEA
• South America

The bunker oil market is driven by the increasing naval expenditure In addition, the increase in global seaborne trade is expected to trigger the bunker oil market toward witnessing a CAGR of 4.68% during the forecast period.

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Related Reports on Energy Include

Global Food Grade Lubricants Market- The food grade lubricants market is segmented by product (mineral oil lubricants and synthetic oil lubricants) and geography (North America, APAC, Europe, South America, and MEA).
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Global Bunker Fuel Market- The bunker fuel market is segmented by type (MGO, HSFO, and VLSFO) and geography (APAC, Europe, MEA, North America, and South America).
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape 

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Report link: https://www.technavio.com/report/bunker-oil-market-industry-analysis

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