Market overview
The global bunkering market is worth USD 142 bn in 2026 and is forecast to reach USD 165 bn by 2036, growing at a 1.5% CAGR. Singapore is the largest country market and VLSFO is the largest by fuel segment.
| Scope | Marine fuel supplied to ships in ports and at sea, including very low-sulphur fuel oil, marine gasoil, high-sulphur fuel oil with scrubbers, LNG, methanol and biofuel blends. |
|---|---|
| Industry | Oil and Gas |
| Value 2025 | USD 140 bn |
| Value 2026 | USD 142 bn |
| Value 2036 | USD 165 bn |
| CAGR 2026-2036 | 1.5% |
| Volume 2026 | 247 million tonnes |
| Volume 2036 | 273 million tonnes |
| Average price 2026 | USD 574 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Bunkering market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 142 bn |
| 2027 | USD 144 bn |
| 2028 | USD 146 bn |
| 2029 | USD 149 bn |
| 2030 | USD 151 bn |
| 2031 | USD 153 bn |
| 2032 | USD 155 bn |
| 2033 | USD 158 bn |
| 2034 | USD 160 bn |
| 2035 | USD 162 bn |
| 2036 | USD 165 bn |
Bunkering market segmentation
By fuel
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| VLSFO | 52.0% | 39.7% | USD 73.9 bn | -1.2% |
| Marine gasoil | 18.0% | 14.4% | USD 25.6 bn | -0.7% |
| HSFO with scrubbers | 18.0% | 13.7% | USD 25.6 bn | -1.2% |
| LNG | 7.0% | 13.2% | USD 9.9 bn | 8.1% |
| Methanol and biofuels | 5.0% | 19.0% | USD 7.1 bn | 16.0% |
By vessel
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Container ships | 28.0% | 28.2% | USD 39.8 bn | 1.6% |
| Bulk carriers | 24.0% | 23.0% | USD 34.1 bn | 1.1% |
| Tankers | 22.0% | 21.1% | USD 31.3 bn | 1.1% |
| Cruise, ferry and offshore | 14.0% | 15.6% | USD 19.9 bn | 2.6% |
| Other | 12.0% | 12.1% | USD 17.1 bn | 1.6% |
By delivery method
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Barge-to-ship | 58.0% | 57.0% | USD 82.4 bn | 1.3% |
| Pipeline and terminal | 24.0% | 24.0% | USD 34.1 bn | 1.5% |
| Truck-to-ship | 18.0% | 19.0% | USD 25.6 bn | 2.0% |
By supplier type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Oil majors | 30.0% | 27.0% | USD 42.6 bn | 0.4% |
| Independent suppliers | 46.0% | 47.0% | USD 65.4 bn | 1.7% |
| State-owned suppliers | 24.0% | 26.0% | USD 34.1 bn | 2.3% |
By sales basis
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Spot sales | 58.0% | 54.0% | USD 82.4 bn | 0.8% |
| Term supply | 30.0% | 32.0% | USD 42.6 bn | 2.2% |
| Fixed-price and hedged supply | 12.0% | 14.0% | USD 17.1 bn | 3.1% |
Top 25 countries for bunkering by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 71.0% of 2026 revenue and the 25 countries below together hold 94.8%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | Singapore | USD 28.4 bn | 20.0% | USD 33.0 bn | 1.5% |
| 2 | China | USD 17.1 bn | 12.0% | USD 20.8 bn | 2.0% |
| 3 | United Arab Emirates | USD 12.8 bn | 9.0% | USD 15.7 bn | 2.0% |
| 4 | Netherlands | USD 9.9 bn | 7.0% | USD 11.0 bn | 1.1% |
| 5 | United States | USD 8.5 bn | 6.0% | USD 9.4 bn | 1.0% |
| 6 | Spain | USD 5.7 bn | 4.0% | USD 6.6 bn | 1.5% |
| 7 | South Korea | USD 5.7 bn | 4.0% | USD 6.3 bn | 1.0% |
| 8 | Japan | USD 4.3 bn | 3.0% | USD 4.8 bn | 1.2% |
| 9 | Malta | USD 4.3 bn | 3.0% | USD 4.8 bn | 1.2% |
| 10 | Egypt | USD 4.3 bn | 3.0% | USD 4.9 bn | 1.5% |
| 11 | Hong Kong | USD 4.2 bn | 2.9% | USD 4.8 bn | 1.5% |
| 12 | Malaysia | USD 4.2 bn | 2.9% | USD 4.8 bn | 1.5% |
| 13 | Greece | USD 3.5 bn | 2.5% | USD 3.9 bn | 1.0% |
| 14 | Belgium | USD 2.9 bn | 2.1% | USD 3.2 bn | 0.9% |
| 15 | Panama | USD 2.5 bn | 1.8% | USD 3.2 bn | 2.2% |
| 16 | Taiwan | USD 2.3 bn | 1.6% | USD 2.8 bn | 2.2% |
| 17 | Germany | USD 2.0 bn | 1.4% | USD 2.2 bn | 0.9% |
| 18 | Turkey | USD 1.9 bn | 1.3% | USD 2.3 bn | 2.2% |
| 19 | Norway | USD 1.7 bn | 1.2% | USD 1.9 bn | 0.9% |
| 20 | Brazil | USD 1.6 bn | 1.1% | USD 2.0 bn | 2.2% |
| 21 | Italy | USD 1.5 bn | 1.1% | USD 1.7 bn | 0.9% |
| 22 | India | USD 1.4 bn | 1.0% | USD 1.8 bn | 2.3% |
| 23 | France | USD 1.4 bn | 1.0% | USD 1.5 bn | 1.0% |
| 24 | Indonesia | USD 1.3 bn | 0.9% | USD 1.6 bn | 2.1% |
| 25 | Canada | USD 1.3 bn | 0.9% | USD 1.4 bn | 0.9% |
| Rest of world | USD 7.4 bn | 5.2% | USD 8.4 bn | 1.3% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Shell
- TotalEnergies
- ExxonMobil
- BP
- Sinopec
- Vitol
- Trafigura
- Glencore
Group 2: Regional and specialist players
- Bunker Holding
- Gulf Oil Marine
- Peninsula Petroleum
- GAC Group
- World Kinect
- Chimbusco
- Cockett Marine Oil
- Equatorial Marine Fuel Management
- Sentek Marine & Trading
Group 3: Emerging and niche players
- Monjasa
- Minerva Bunkering
- Glander International Bunkering
- Bominflot
- Golden Island Diesel Oil Trading
- Hong Lam Marine
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the bunkering market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 1.5% is calculated from the resulting values.
The market is divided by fuel, by vessel, by delivery method, by supplier type, by sales basis. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the bunkering market?
The global bunkering market is estimated at USD 140 bn in 2025 and USD 142 bn in 2026.
How fast will the bunkering market grow?
It is forecast to reach USD 165 bn by 2036, a compound annual growth rate of 1.5% from 2026, an increase of USD 22.8 bn.
Which country is the largest market for bunkering?
Singapore is the largest market by revenue at USD 28.4 bn in 2026, 20.0% of the global total. The three largest countries together hold 41.0%.
Which country is growing fastest?
Among the ten largest markets, United Arab Emirates is growing fastest at 2.0% a year from 2026 to 2036.
Which bunkering segment is largest?
In the by fuel split, VLSFO is the largest segment with 52.0% of 2026 revenue.
Who are the leading bunkering companies?
Global leaders include Shell, TotalEnergies, ExxonMobil, BP.
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