According to Cognitive Market Research, the global bunker fuel oil market size is USD 115954.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.30% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 46381.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 34786.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 26669.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 5797.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2319.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
The Tanker Fleet segment held the highest bunker fuel oil market revenue share in 2024.
