Marine Diesel Market-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2018-2025

                                          
Abstract
                    
The report covers forecast and analysis for the marine diesel market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the marine diesel oil market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the marine diesel market on a global as well as regional level.

As per the report, the global demand for marine diesel market was valued at approximately USD 56.57 billion in 2018 and is expected to generate revenue of around USD 77.83 billion by end of 2025, growing at a CAGR of around 4.6% between 2019 and 2025.


Marine diesel is a type of fuel which is a blend of heavy-duty oil and gas oil. It is used in medium speed and high-speed diesel engines and also in large low-speed propulsion engines.

The lower price of marine diesel is expected to be a major driving factor for the growth of this market as the players in the shipping industry favor marine diesel over highly refined fuel. Moreover, the growth of the market can also be attributed to the growth in trade through waterways and increasing penetration of logistics companies in the market. In order to facilitate global trade and develop their economy, many developing nations have been investing heavily in improving the trade infrastructure of their countries by investing in the maritime sector. According to the UN, global maritime trade increased by over 4% in 2017. Many players involved in the maritime industry have completed expansion activities into several other countries. The UNCTAD noted a considerable increase in the average number of companies offering the services in maritime trade across the globe. Moreover, the growth of Asia, predominantly China, as a global trade partner for the Africa region, overtaking Europe and the U.S. are expected to create new avenues of opportunities for the players in the maritime industry, thereby spurring the demand for marine diesel. However, the implication posed by the International Maritime Organization (IMO) on the sulfur content in marine fuels is expected to restrain the growth of the market during the coming years. The International Maritime Organization (IMO) has mandated all ship operators to limit the sulfur in fuel oil to 0.5% m/m and this is expected to curb the demand for marine diesel. The growing protectionism and inward-looking policies of major countries are expected to affect global trade, thereby affecting the demand for marine diesel oil.

The global marine diesel oil market is segmented on the basis of distribution channel, application, and end-user. The distribution channel segment includes oil majors, large independent, and small independent. The oil majors segment dominated the market in 2018 and is expected to maintain its dominance over the forecast period. However, the small independent segment is expected to register the highest CAGR during the forecast period and provide tough competition to the established players in the oil majors segment. Based on application, the market is segmented into fuel consumption, efficiency level, fleet management, and viscosity control. The end-user segmentation includes container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing, and gas tanker. General cargo accounted for the largest market share in 2018 and is expected to register significant growth during the forecast period.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to be the fastest growing region and is expected to witness significant gains in the general cargo segment. 

Some of the key players operating in the global marine diesel market include Bomin Bunker Oil Corp., Indian Oil Corporation, Chemoil Energy Ltd., KPI Bridge Oil A/S, Harvey Gulf International Marine LLC, Aegean Marine Petroleum Network Inc., BP PLC, Gazprom Neft PJSC, Exxon Mobil, Royal Dutch Shell PLC, among others.

Global Marine Diesel Market: By Distribution Channel

	Oil Majors
	Large Independent
	Small Independent

Global Marine Diesel Market: By Application

	Fuel Consumption
	Efficiency Level
	Fleet Management
	Viscosity Control

Global Marine Diesel Market: By End User

	Container
	Bulk Carrier
	Oil Tanker
	General Cargo
	Chemical Tanker
	Fishing
	Gas Tanker

Global Marine Diesel Market: By Region

	North America
	
		U.S.
	
	
	Europe
	
		UK
		France
		Germany
	
	
	Asia Pacific
	
		China
		Japan
		India
	
	
	Latin America
	
		Brazil
	
	
	Middle East and Africa