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Bunkering Market Size, Share and Forecast 2026-2036

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.

USD 142 bnMarket size 2026
USD 165 bnForecast 2036
1.5%CAGR 2026-2036
SingaporeLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

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.

ScopeMarine 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.
IndustryOil and Gas
Value 2025USD 140 bn
Value 2026USD 142 bn
Value 2036USD 165 bn
CAGR 2026-20361.5%
Volume 2026247 million tonnes
Volume 2036273 million tonnes
Average price 2026USD 574 per tonne
Report priceStarts from USD 1,999
PublishedNovember 2026

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Bunkering market size and forecast, 2026-2036

Exhibit 1The global bunkering market is forecast to grow from USD 142 bn in 2026 to USD 165 bn by 2036, a rise of 16%Global market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 1.5%
Bunkering market value, 2025 to 2036Market value by year. 2025: USD 140 bn; 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. Compound annual growth rate 2026 to 2036: 1.5%.2025142 bn2026153 bn2031165 bn20361.5% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 142 bn
2027USD 144 bn
2028USD 146 bn
2029USD 149 bn
2030USD 151 bn
2031USD 153 bn
2032USD 155 bn
2033USD 158 bn
2034USD 160 bn
2035USD 162 bn
2036USD 165 bn

Bunkering market segmentation

By fuel

Exhibit 2VLSFO is the largest segment by fuel, with 52.0% of 2026 revenueEstimated share of 2026 global revenue, by fuel
Bunkering market share by fuel, 2026Share of 2026 revenue by fuel. VLSFO: 52.0%; Marine gasoil: 18.0%; HSFO with scrubbers: 18.0%; LNG: 7.0%; Methanol and biofuels: 5.0%.VLSFO52.0%Marine gasoil18.0%HSFO with scrubbers18.0%LNG7.0%Methanol and biofuels5.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
VLSFO52.0%39.7%USD 73.9 bn-1.2%
Marine gasoil18.0%14.4%USD 25.6 bn-0.7%
HSFO with scrubbers18.0%13.7%USD 25.6 bn-1.2%
LNG7.0%13.2%USD 9.9 bn8.1%
Methanol and biofuels5.0%19.0%USD 7.1 bn16.0%

By vessel

Exhibit 3Container ships adds the most revenue by vessel, growing from USD 39.8 bn in 2026 to USD 46.5 bn by 2036Estimated revenue in USD by vessel, 2026 and 2036 forecast
Bunkering market by vessel, 2026 and 2036Revenue by vessel in 2026 and 2036. Container ships: USD 39.8 bn in 2026, USD 46.5 bn in 2036, change +17%; Bulk carriers: USD 34.1 bn in 2026, USD 38.0 bn in 2036, change +11%; Tankers: USD 31.3 bn in 2026, USD 34.8 bn in 2036, change +11%; Cruise, ferry and offshore: USD 19.9 bn in 2026, USD 25.7 bn in 2036, change +29%; Other: USD 17.1 bn in 2026, USD 19.9 bn in 2036, change +17%.20262036 forecastChangeContainer ships+17%39.8 bn46.5 bnBulk carriers+11%34.1 bn38.0 bnTankers+11%31.3 bn34.8 bnCruise, ferry and offshore+29%19.9 bn25.7 bnOther+17%17.1 bn19.9 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Container ships28.0%28.2%USD 39.8 bn1.6%
Bulk carriers24.0%23.0%USD 34.1 bn1.1%
Tankers22.0%21.1%USD 31.3 bn1.1%
Cruise, ferry and offshore14.0%15.6%USD 19.9 bn2.6%
Other12.0%12.1%USD 17.1 bn1.6%

By delivery method

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Barge-to-ship58.0%57.0%USD 82.4 bn1.3%
Pipeline and terminal24.0%24.0%USD 34.1 bn1.5%
Truck-to-ship18.0%19.0%USD 25.6 bn2.0%

By supplier type

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Oil majors30.0%27.0%USD 42.6 bn0.4%
Independent suppliers46.0%47.0%USD 65.4 bn1.7%
State-owned suppliers24.0%26.0%USD 34.1 bn2.3%

By sales basis

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Spot sales58.0%54.0%USD 82.4 bn0.8%
Term supply30.0%32.0%USD 42.6 bn2.2%
Fixed-price and hedged supply12.0%14.0%USD 17.1 bn3.1%

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%.

Exhibit 4Singapore is the largest country market at USD 28.4 bn in 2026, and the three largest countries hold 41.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Bunkering market, ten largest countries in 2026Ten largest countries by 2026 revenue. Singapore: USD 28.4 bn, 20.0%; China: USD 17.1 bn, 12.0%; United Arab Emirates: USD 12.8 bn, 9.0%; Netherlands: USD 9.9 bn, 7.0%; United States: USD 8.5 bn, 6.0%; Spain: USD 5.7 bn, 4.0%; South Korea: USD 5.7 bn, 4.0%; Japan: USD 4.3 bn, 3.0%; Malta: USD 4.3 bn, 3.0%; Egypt: USD 4.3 bn, 3.0%.Singapore28.4 bn 20.0%China17.1 bn 12.0%United Arab Emirates12.8 bn 9.0%Netherlands9.9 bn 7.0%United States8.5 bn 6.0%Spain5.7 bn 4.0%South Korea5.7 bn 4.0%Japan4.3 bn 3.0%Malta4.3 bn 3.0%Egypt4.3 bn 3.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1SingaporeUSD 28.4 bn20.0%USD 33.0 bn1.5%
2ChinaUSD 17.1 bn12.0%USD 20.8 bn2.0%
3United Arab EmiratesUSD 12.8 bn9.0%USD 15.7 bn2.0%
4NetherlandsUSD 9.9 bn7.0%USD 11.0 bn1.1%
5United StatesUSD 8.5 bn6.0%USD 9.4 bn1.0%
6SpainUSD 5.7 bn4.0%USD 6.6 bn1.5%
7South KoreaUSD 5.7 bn4.0%USD 6.3 bn1.0%
8JapanUSD 4.3 bn3.0%USD 4.8 bn1.2%
9MaltaUSD 4.3 bn3.0%USD 4.8 bn1.2%
10EgyptUSD 4.3 bn3.0%USD 4.9 bn1.5%
11Hong KongUSD 4.2 bn2.9%USD 4.8 bn1.5%
12MalaysiaUSD 4.2 bn2.9%USD 4.8 bn1.5%
13GreeceUSD 3.5 bn2.5%USD 3.9 bn1.0%
14BelgiumUSD 2.9 bn2.1%USD 3.2 bn0.9%
15PanamaUSD 2.5 bn1.8%USD 3.2 bn2.2%
16TaiwanUSD 2.3 bn1.6%USD 2.8 bn2.2%
17GermanyUSD 2.0 bn1.4%USD 2.2 bn0.9%
18TurkeyUSD 1.9 bn1.3%USD 2.3 bn2.2%
19NorwayUSD 1.7 bn1.2%USD 1.9 bn0.9%
20BrazilUSD 1.6 bn1.1%USD 2.0 bn2.2%
21ItalyUSD 1.5 bn1.1%USD 1.7 bn0.9%
22IndiaUSD 1.4 bn1.0%USD 1.8 bn2.3%
23FranceUSD 1.4 bn1.0%USD 1.5 bn1.0%
24IndonesiaUSD 1.3 bn0.9%USD 1.6 bn2.1%
25CanadaUSD 1.3 bn0.9%USD 1.4 bn0.9%
Rest of worldUSD 7.4 bn5.2%USD 8.4 bn1.3%
Exhibit 5Singapore and China account for 36% of the USD 22.8 bn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Bunkering market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 142 bn. Singapore: +USD 4.6 bn; China: +USD 3.7 bn; United Arab Emirates: +USD 2.9 bn; Netherlands: +USD 1.1 bn; Spain: +USD 913 mn; 20 other countries: +USD 8.6 bn; Rest of world: +USD 1.0 bn. Market value 2036: USD 165 bn.Singapore+4.6 bnChina+3.7 bnUnited Arab Emirates+2.9 bnNetherlands+1.1 bnSpain+913 mn20 other countries+8.6 bnRest of world+1.0 bn

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.

Read the full research methodology

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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