The Global Bunker Fuel Market will exhibit a growth rate of 4.4% CAGR and a value of USD 164.9 by 2030
The Bunker Fuel Market has evolved with the shipping industry. Over the past decades, global demand for bunker fuel has increased in tandem with global trade and the volume of vessels. The International Maritime Organization (IMO) is a special agency of the United Nations promoting safe, accessible, and sustainable shipping. It sets standards for safety, environmental performance, and operational practices for international ships. Reduced sulfur emissions from bunker fuels (from 3.5% to 0.5%) came into force as part of new regulations by the IMO to reduce greenhouse gas emissions as well as air pollution from shipping operations which are driving the market. ResearchMoz provides a comprehensive report on the bunker fuel market. It presents key statistics on supply and demand, trends in this sector along with the latest news on regulations, technology developments, and competition analysis among operators. Recent Developments in Technology Drive the Bunker Fuel Market One of the ...