The latest report from Markets and Markets, "Aviation Fuel Market Research Report 2022-2030," offers an in-depth analysis of the Aviation Fuel market, including trends, new technologies, drivers, challenges, regulations, key player profiles, and strategies. With over 100 market data tables, charts, graphs, and figures, the report provides a comprehensive view of the market, including future trends, current growth factors, expert insights, and market data forecast until 2030.
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Key Market Players
Major players operating in the aviation fuel market include Exxon Mobil Corporation (US), Chevron Corporation (US), British Petroleum (UK), Shell (UK), TotalEnergies (France), Neste (Finland), Gazprom (Russia), World Fuel Service (US), Indian Oil Corporation (India), and Valero Energy Corporation (US) among others.
Based on Fuel Type, the Conventional Fuel Segment Holds the Largest Market Share in 2022
Rising air passenger traffic drives the growing demand for traditional jet fuel, mostly due to airlines needing it to operate their planes. Despite government efforts to shift towards sustainable aviation fuel (SAF), the low cost of conventional jet fuel compared to SAF makes airlines heavily reliant on it. The growing tourism industry also contributes to the growth of the conventional fuel segment in the aviation fuel market.
North America is Expected to Account for the Largest Share of Aviation Fuel Market in 2022
North America is projected to hold the largest share of the aviation fuel market in 2022. The region boasts a large aircraft fleet and high passenger numbers, resulting in significant aircraft emissions. To combat this and reduce carbon footprints, the US and Canada are implementing initiatives to adopt sustainable aviation fuel (SAF). With favorable policies and decarbonization efforts, North America is expected to be a strong demand center for SAF. The use of energy-dense biofuels to achieve decarbonization of the aviation sector is likely to have a significant impact in reducing greenhouse gas concentrations in the region.
Scope of the Report
Report Metric
Details
Market Size Available for Years
2018-2030
Base Year Considered
2021
Forecast Period
2022-2030
Forecast Units
Value (USD)
Segments Covered
Fuel Type, Aircraft Type, and Region
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Companies Covered
Exxon Mobil Corporation (US), Chevron Corporation (US), British Petroleum (UK), Shell (UK), TotalEnergies (France), Neste (Finland), Gazprom (Russia), World Fuel Service (US), Indian Oil Corporation (India), and Valero Energy Corporation (US) among others.
By Fuel Type:
- Conventional Fuel
- Sustainable Fuel
By Aircraft Type:
- Fixed Wing
- Rotary Wing
- Unmanned Aerial Vehicle
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Recent Developments
• In Aug 2022, BP launched a new, all-electric refueller for Jet A-1 at Brisbane Airport (Australia) that can hold around 16,000 liters of fuel and operates for a full day with overnight charging.
• In June 2022, Shell introduced Avelia, the world's first blockchain-based digital sustainable aviation fuel (SAF) book-and-claim solution for business travel with a capacity of around 1 million gallons of SAF.
• Exxon Mobil and Qatar Energy signed an agreement in June 2022 to develop Qatar's North Field East project, increasing Qatar's annual liquified natural gas (LNG) capacity from 77 million tons to 110 million tons by 2026.
• In May 2022, Chevron teamed up with Pertamina to investigate lower carbon business opportunities in Indonesia.
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