United States Bunker Fuel Market Size, Share, By Fuel Type (Very Low Sulfur Fuel Oil (VLSFO), High Sulfur Fuel Oil (HSFO), Marine Gas Oil (MGO), and Others), By Application (Bulk Carrier, Oil Tanker, Container, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tanker, Others), United States Bunker Fuel Market Insights, Industry Trend, Forecasts to 2035

United States Bunker Fuel Market Insights Forecasts to 2035

• United States Bunker Fuel Market Size 2024: USD 25.7 Bn
• United States Bunker Fuel Market Size 2035:  USD 49.8 Bn
• United States Bunker Fuel Market CAGR 2024: 6.2%
• United States Bunker Fuel Market Segments: Fuel Type and Application

The bunker fuel market in the marine fuels used to power ships and vessels is sold and supplied to the U.S. coastal and inland waters. Bunker fuel is the energy source used for ship propulsion as well as on-board power generation throughout the marine transportation and port operations.

A letter of intent (LOI) has been executed by Loa Carbon, a New York-based climate technology company, with Galveston LNG Bunker Port (GLBP) from Texas. In this arrangement, Loa Carbon will deliver renewable e-methane to GLBP for the liquefaction process.

The United States Coast Guard has issued revised guidance that permits liquefied natural gas (LNG) and other alternative marine fuel bunkering, stipulating risk evaluations and engaging with local safety committees in order to make bunkering operations in U.S. ports and waters safer and greener.

The United States market is supported by long-term growth opportunities created by the expansion of alternative bunker fuels such as biofuels and methanol, ports' fuel infrastructure investments, and the demand for green shipping fleets.

Market Dynamics of the United States Bunker Fuel Market:

The United States bunker fuel market is driven by the strong activity of maritime trade, high volumes of commercial shipping, and the demand for ports on the Gulf Coast and the Atlantic. The increase in shipping containers, the revival of cruise tourism, naval activities, and the transport of goods by inland waterways, along with the slow transition to low-sulphur and alternative marine fuels to comply with environmental regulations, are all factors that contribute to the market's growth.

The United States bunker fuel market is restrained by the challenge of strict environmental regulations, high sulphur fuel compliance costs, unstable crude oil prices, and the rapid adoption of technology that reduces reliance on conventional fuels, thereby shrinking the demand for bunker fuels.

The future of United States bunker fuel market is bright and promising, with the increasing international trade, the upgrading of port infrastructure, the growing requirement of low-sulphur fuels that meet the regulations, and the gradual acceptance of LNG and alternative marine fuels that consequently lead to steady market growth.

Market Segmentation

The United States bunker fuel market share is classified into fuel type and application.

By Fuel Type:

The United States bunker fuel market is divided by fuel type into very low sulfur fuel oil (VLSFO), high sulfur fuel oil (HSFO), marine gas oil (MGO), and others. Among these, the very low sulfur fuel oil (VLSFO) segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Because of the combination of U.S. regulations and the IMO 2020 sulfur cap, which necessitate the use of low-sulfur fuels by ships, leading to decreased emissions, compliance guarantees, and the phasing out of high-sulfur fuel in commercial and port operations.

By Application:

The United States bunker fuel market is divided by application into bulk carrier, oil tanker, container, general cargo, chemical tanker, fishing vessels, gas tanker, and others. Among these, the container segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Because of the global trade's heavy dependence on container shipping, which is characterized by big fleets, daily sailings, and enormous fuel consumption compared to the other categories of ships, like bulk, tankers, and smaller vessels in the United States waters.

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the United States bunker fuel market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 

Top Key Companies in United States Bunker Fuel Market:

• Exxonmobil
• Chevron
• World Kinect Corporation
• Valero Energy
• Marathon Petroleum
• Phillips 66
• PBF Energy
• Clipper Oil Company
• Crowley Maritime
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the United States, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the United States bunker fuel market based on the below-mentioned segments:

United States Bunker Fuel Market, By Fuel Type

• Very Low Sulfur Fuel Oil (VLSFO)
• High Sulfur Fuel Oil (HSFO)
• Marine Gas Oil (MGO)
• Others

United States Bunker Fuel Market, By Application

• Bulk Carrier
• Oil Tanker
• Container
• General Cargo
• Chemical Tanker
• Fishing Vessels
• Gas Tanker
• Others