The market will decelerate at a CAGR of 1% between 2019-2023
LONDON--(BUSINESS WIRE)--#energy--The report, global fuel oil market has been added to Technavio’s catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on application and geography for the forecast period 2019-2023.
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This report on the fuel oil market includes:
Fuel oil market analysis and forecast 2019-2023: Features
- Competitive landscape
- Market drivers
- Market trends
- Market challenges
- Five forces analysis
- Market landscape
- Market sizing & forecast
Fuel oil Market 2019-2023: Competitive Landscape
- Vendors covered
- Chevron Corp.
- Exxon Mobil Corp.
- National Iranian Oil Products Distribution Co.
- PJSC Gazprom
- Qatar Petroleum
- Royal Dutch Shell Plc
Fuel Oil Market 2019-2023: Geographic Landscape
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
Fuel Oil Market 2019-2023: Application
- Marine - Market size and forecast 2018-2023
- Industrial - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
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Rise in global energy demand will drive the fuel oil market
The global energy demand has increased significantly over the years due to the strong growth of economic activities. Moreover, the demand for fuel from the transportation, residential, and commercial sectors is expected to grow exponentially, particularly in emerging economies such as China and India. This growth can be attributed to the growing transportation sector in major economies, where SUVs and trucks are taking up a major share of the automotive market. Thus, the increasing demand for energy will drive the fuel oil market growth during the forecast period.
Adoption of blockchain for oil and gas industry – An emerging trend in the fuel oil market
The growing adoption of blockchain in the oil and gas industry is identified as one of the key fuel oil market trends that will drive the market growth. The adoption of blockchain helps in overcoming various issues including the high fuel prices, environmental pollution, and complexity of logistics. Blockchain platforms facilitate secure and faster transactions between entities. Blockchain also helps in reducing cash cycle time and intermediary costs.
Other Key Topics Covered in the Report are:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
- Requirement of new refinery based on IMO regulations
- Growth in global seaborne trade
- Adoption of blockchain for oil and gas industry
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