How big is the Bunker Market | Investment & Expansion Trends 2025

Q: How big is the bunker market in 2024?

The bunker market was estimated at USD 134 billion in 2024.

Q: What is the projected market size by 2031?

The market is projected to reach USD 182 billion by 2031, growing at a CAGR of 4.9%.

Q: What fuels are gaining popularity in the bunker market?

Low-sulphur fuel oil (LSFO), LNG, MGO, and emerging biofuels are seeing increased adoption.

Q: What trends are shaping the bunker fuel industry?

Cleaner fuels, port infrastructure development, digitalization, and hybrid vessel support are major trends.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA5402

Publication Date: Jul 2025

What is the size of the Bunker Market?

According to 6Wresearch internal database and industry insights, the Bunker Market was estimated at USD 134 billion in 2024 and is projected to reach USD 182 billion by 2031, growing at a CAGR of 4.9% during the forecast period 2025–2031.

Due to global maritime trade, rising demand for alternative fuels in shipping, and increasing environmental regulations on marine fuel emissions, the market is continued to rise in the future.

Key Growth Factors of the Bunker Market

Growth in international shipping and marine transport
Rising demand for low-sulphur and alternative marine fuels
Implementation of IMO 2020 emission regulations
Expanding seaborne trade and naval defence activities
Infrastructure development in ports and refuelling terminals

Bunker Market Trends

The bunker fuel industry is experiencing steady growth with several trends such as shifting toward cleaner and compliant fuels, including low-sulphur fuel oil (LSFO), marine gas oil (MGO), and liquefied natural gas (LNG). Also, there is digitalization in bunker operations, including blockchain and AI for inventory and transaction management, is gaining momentum. Further, biofuels and methanol are emerging as long-term sustainable alternatives to traditional bunker fuels.

Emerging Developments in the Bunker Market

The bunker market is navigating emerging developments over the years, onboard fuel efficiency systems and engine retrofit technologies are being integrated to reduce emissions. Further, the global ports are expanding shore-to-ship power supply capabilities to cut fuel use while docked. Aside from these, bunker traceability and transparency platforms are being developed to prevent fuel fraud and ensure compliance. Hybrid and dual-fuel engine vessels are driving demand for flexible bunkering solutions.