Future of Transportation Fuel Market Looks Promising as Increasing Number of People Opt for Private Transportation, says Fortune Business Insights
Pune, India, March 09, 2023 (GLOBE NEWSWIRE) — Growing Transportation Fuel Market services are aiding the expansion of the global transportation fuel market. This information was shared by Fortune Business Insights in a report, titled “Transportation Fuel Market Size, Share and Global Trend By Fuel (Gasoline, Diesel, Biofuels, and others), By End User (Roadways, Airways, Railways, Waterways), and Geography Forecast till 2026.” Transportation fuels are extensively used in different vehicles to generate energy. Some of transportation fuels include diesel, gasoline, aviation turbine fuel, and biofuel. The global market is expected to grow with the rapidly increasing international trade.
Transportation Fuel Market Size, Share and Global Trend By Fuel(Gasoline, Diesel, Biofuels, and others), By End User(Roadways, Airways, Railways, Waterways), and Geography Forecast till 2023-2030. On the basis of fuel, the global transportation fuel market can be segmented into gasoline, diesel, biofuels, aviation turbine fuel, CNG and others. Fuels derived from petroleum are the most used for transportation. But as the emission control norms are becoming strict, there has been a drift towards the usage of other cleaner fuels.
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Amid the COVID-19 pandemic, the power generation and supply for a particular day are planned on the basis of the demand. The lockdown has taken a huge toll on the demand for electricity from the commercial and industrial sectors. But, the availability of fuel and plant operations was not affected as these are classified as essential services by regulatory bodies. Our research reports will help you pave the way toward success by providing in-depth analysis of the overall industry.
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hift Towards Eco-friendly and Bio-based Fuels Spurs Growth of the Market
The rapid growth in industrialization and the increasing sales of passenger cars are likely to stimulate growth in the transportation fuel market. Majority of the vehicles are highly dependent on crude oils which include gasoline, fuel oil, diesel among others. “The growing carbon emissions from such vehicles is compelling organizations and governments to develop bio-based, clean, and eco-friendly transportation fuels,” stated a lead analyst at Fortune Business Insights. Moreover, governments are planning to promote some of the low emission fuels which include hydrogen, electricity, natural gas, and biodiesel. Furthermore, the demand for the above mentioned fuels is expected to increase across the world over the projected horizon. This, as a result, is anticipated to contribute to the growth of the transportation fuel market.
Rising disposable income among population is resulting in increasing number of vehicles. This is another factor driving the market and thus increasing the transportation fuel consumption. Furthermore, the improved transportation infrastructure in developed and some developing countries act as a potential growth enabler in the market.
Asia Pacific Sees Maximum Growth Among Other Regions
Asia Pacific is anticipated to expand at a higher rate in the global transportation fuel market during the forecast years. The market registers the maximum growth in Asia Pacific owing to the rising population. This is further expected to fuel demand of transportation fuels and will continue to increase in the forthcoming years. The number of vehicles in countries such as India, Indonesia, and China is increasing, primarily on account of rising per capita income among end-users. This is expected to enable growth in the transportation fuel market in Asia Pacific.
The growing aircraft traffic in countries such as France, Germany, U.K., and the U.S. is expected to augment demand for aviation fuel during the forecast period. Consequently, the transportation fuel market in North America and Europe is anticipated to rise between 2018 and 2026. Apart from these regions, the market is likely to grow in the Middle East and Africa owing to its improving economic rate.
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Segmentation of Report:
|By Fuel||· Gasoline
· Aviation Turbine Fuel
|By End User||· Roadways
|By Geography||· North America (the US and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- In May 2019, The largest independent oil and gas company in Europe was formed after a multibillion-euro merging deal between the energy unit of German chemical group BASF with rival DEA.
- In December 2018, the Indian civil aviation ministry has sought a major tax rejig on aviation fuel to increase the profits of airlines as the profits of airlines were not increasing with a number of passengers growing immensely.
Fortune Business Insights lists out some of the reputable organizations operating in the Transportation fuel market . They are as follows:
- Exxon Mobil Corporation
- Hindustan Petroleum
- Bharat Petroleum Corporation Limited
- BP plc
- Chevron Corporation
- Total SA
- Allied Aviation Services, Inc.
- Valero Marketing and Supply Company
- Royal Dutch Shell Plc
- Siyanda Oil Holdings (Pty) Ltd.
- Sinopec Group
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Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers 2030
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porter Five Forces Analysis 2030
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Ocean Thermal Energy Conversion Plant Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Competitive Analysis
- Company Market Share Analysis, 2030
- Company Profile
- Business Overview
- Product & Service Offering
- Overall Revenue
- Geographic Presence
- Recent Development
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