Germany Bunker Fuel Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Germany Bunker Fuel Market Analysis
Germany's bunker fuel market is expected to register a CAGR of more than 12% over the forecast period.
- Over the medium term, the bunker fuel market in the country is mainly driven by the ever-rising marine transportation of essential commodities, the implementation of stricter environmental regulations driving the demand for cleaner bunker fuels, and the increase in the use of marine vessels for offshore oil and gas developments.
- On the other hand, the increasing initiatives regarding reducing fuel usage by the shipping community are likely to hamper market growth in the coming years.
- Nevertheless, Germany has always been a vital shipping nation and is one of the largest shipping countries in the European Union. Creating new sea trade routes and increasing international sea trade could be very good for marine fuel suppliers.
Germany Bunker Fuel Market Trends
Very Low Sulfur Fuel Oil (VLSFO) to Witness Significant Demand
- Marine fuel containing less than 0.5% sulfur is generally called very low-sulfur fuel oil. From January 1, 2020, HSFO could only be used in ships that had scrubbers installed to reduce emissions, which will drive the demand for VLSFO.
- Most of the high-sulfur bunker fuel oil (HSFO) market is expected to be shortly replaced by low-sulfur alternatives. Most of the VLSFO available in the market is blended from residual and distillate components, which are blended with various cutters of varying sulfur and viscosity to create an on-spec product.
- According to the German Shipowners' Association (VDR) survey published at the end of 2019, more than 80 percent of German shipping companies had plans to switch to the new sulfur-reduced low-sulfur fuel oil (LSFO) starting in 2020. Further, in June 2020, German liquid bulk terminal operator HES Wilhelmshaven Tank Terminal GmbH (HWTT), a 100% subsidiary of HES International B.V., announced the launch of its Low Sulphur Fuel Oil (LSFO) bunker fuel production facility.
- According to VSM-Verbandsnachrichten, in 2021, 19 new maritime vessels will be ordered from German shipyards. This was almost double the number of orders placed in 2020. The growing number of maritime vessels in Germany drives the demand for very low-sulfur fuel oil.
- Therefore, with the increased demand for cleaner fuel and the implementation of IMO 2020 Regulations, the price of very low-sulfur fuel oil (VLSFO) is expected to rise significantly in the forecast period.
Rising Maritime Trade to Boost Market Growth
- Due to more international trade, maritime trade has been growing across the country, and the sea route is thought to be the fastest and most convenient way to trade internationally.According to the world bank, in 2020, container port traffic in Germany reached 18.03 Twenty-foot Equivalent Units (TEUs).
- Germany is one of the top sea-trading countries. Also, the German ports of Hamburg and Bremen/Bremerhaven were included among the top 50 container ports by the World Shipping Council. The Hapag-Lloyd shipping line is a well-known international carrier. One of the top 10 ports that regularly increased their LSCI performance between 2006 and 2019 is the Wilhelmshaven port in Germany.
- Germany has always been a strong shipping nation and is one of the largest shipping countries in the European Union. Germany had more than 360 shipping companies operating as of 2021. Also, regarding twenty-foot equivalent units (TEUs), Germany is one of the biggest global container shipping nations.
- As of 2021, there were over 70 ports in total in Germany. These include major all-purpose ports such as the Port of Hamburg, Emden, Kiel, Bremen, Rostock, Wismar, etc.
- Ships transport about 90% of all goods coming from Germany.The implication of IMO 2020, starting in January 2020, led to the shift to low sulfur content fuel or installing scrubbers to reduce emissions. The conversion to LNG-fueled ships is restricted to newly built ships owing to the higher modification costs for an engine replacement.
- The government in Germany has also set Maritime Agenda 2025; under the program, special attention has been given to the sustainability of maritime trade, given the rising international trade and the growing focus on sulfur-containing fuel. This drives growth in the bunker fuel market in Germany.
Germany Bunker Fuel Industry Overview
The German bunker fuel market is semi fragmented. Some of the key players in this market (in particular order) include Bunker Holding A/S, Vitol Holding BV, Total SA, Monjasa Holding A/S, and Royal Dutch Shell Plc., among others.
Germany Bunker Fuel Market Leaders
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Bunker Holding A/S
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Vitol Holding BV
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Total SA
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Royal Dutch Shell Plc
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Monjasa Holding A/S
*Disclaimer: Major Players sorted in no particular order
Germany Bunker Fuel Market News
- October 2022: Biofabrik, a German oil and plastic recycling firm, developed viable bunker fuels from waste oil products. The company has produced a range of bunker fuels from waste oil fuel products such as sludge.
- June 2022: With Fincantieri Bay Shipbuilding, TGE Marine Gas Engineering GmbH has been awarded the contract to design and provide two 6,000 m3 bilobe Type C tanks for the transport of LNG at -163 degrees Celsius as part of a 12,000 m3 LNG bunkering barge contract. The cargo handling system includes two 6,000 m3 bilobe Type C tanks.
Germany Bunker Fuel Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2028
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 PESTLE Analysis
5. MARKET SEGMENTATION
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5.1 Fuel Type
- 5.1.1 High Sulfur Fuel Oil (HSFO)
- 5.1.2 Very Low Sulfur Fuel Oil (VLSFO)
- 5.1.3 Marine Gas Oil (MGO)
- 5.1.4 Liquefied Natural Gas (LNG)
- 5.1.5 Other fuel Types (Methanol, LPG, Biodiesel)
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5.2 Vessel Type
- 5.2.1 Containers
- 5.2.2 Tankers
- 5.2.3 General Cargo
- 5.2.4 Bulk Container
- 5.2.5 Other Vessel Types
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Fuel Suppliers
- 6.3.1.1 Vitol Holding BV
- 6.3.1.2 Monjasa Holding A/S
- 6.3.1.3 Bunker Holding A/S
- 6.3.1.4 Total SA
- 6.3.1.5 Royal Dutch Shell Plc
- 6.3.2 Ship Owners
- 6.3.2.1 AP Moeller Maersk A/S
- 6.3.2.2 Mediterranean Shipping Company S.A.
- 6.3.2.3 China COSCO Holdings Company Limited
- 6.3.2.4 CMA CGM Group
- 6.3.2.5 Hapag-Lloyd AG
- 6.3.2.6 Ocean Network Express
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityGermany Bunker Fuel Industry Segmentation
Bunker fuel is the general term given to any fuel poured into a ship's bunkers to power its engines. Most deep-sea cargo ships burn the heavy oil that is left over from refining crude oil after gasoline, diesel, and other light hydrocarbons are taken out.
The German bunker fuel market is segmented by fuel type and vessel type. By fuel type, the market is segmented into high-sulfur fuel oil (HSFO), very low-sulfur fuel oil (VLSFO), marine gas oil (MGO), liquefied natural gas (LNG), and others (methanol, LPG, and biodiesel). By vessel type, the market is segmented into containers, tankers, general cargo, bulk containers, and others. For each segment, market sizing and forecasts have been done based on revenue (USD).
| Fuel Type | High Sulfur Fuel Oil (HSFO) |
| Very Low Sulfur Fuel Oil (VLSFO) | |
| Marine Gas Oil (MGO) | |
| Liquefied Natural Gas (LNG) | |
| Other fuel Types (Methanol, LPG, Biodiesel) | |
| Vessel Type | Containers |
| Tankers | |
| General Cargo | |
| Bulk Container | |
| Other Vessel Types |
Germany Bunker Fuel Market Research FAQs
What is the current Germany Bunker Fuel Market size?
The Germany Bunker Fuel Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)
Who are the key players in Germany Bunker Fuel Market?
Bunker Holding A/S , Vitol Holding BV , Total SA , Royal Dutch Shell Plc and Monjasa Holding A/S are the major companies operating in the Germany Bunker Fuel Market.
What years does this Germany Bunker Fuel Market cover?
The report covers the Germany Bunker Fuel Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Bunker Fuel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Germany Bunker Fuel Industry Report
Statistics for the 2024 Germany Bunker Fuel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Bunker Fuel analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
