Global Aviation Fuel Market To Be Driven At A CAGR Of 11% In The Forecast Period Of 2021-2026
The new report by Expert Market Research titled, ‘Global Aviation Fuel Market Growth, Share, Price, Size, Outlook, Report and Forecast 2021-2026’, gives an in-depth analysis of the global aviation fuel market, assessing the market based on its segments like fuel type, aircraft type, end use, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Size (2020): 215 Million Metric Tonnes
- Forecast CAGR (2021-2026): 11%
- Forecast Market Size (2026): 402 Million Metric Tonnes
The global aviation fuel market is primarily driven by the growing demand from the air transportation sector. The increase in demand can be attributed to introduction of new flight routes, development of new airports. The demand id further boosted by the increasing disposable income of people, which is shifting their preference to air travel. Moreover, the demand from military sector also aids to the growth. However, the rapid fluctuation of crude oil prices, and growing concern towards carbon emission, resulting in the shifting trend towards biofuels may constrain the growth in the forecast period.
Aviation Fuel Industry Definition and Major Segments
Aviation fuel are special category of fuels that are used to operate aircrafts. They are petroleum based, kerosene based or synthetic based fuels which do not freeze at high altitudes. These fuels are more refined and are of higher quality than regular fuels used in motor vehicles or railways.
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On the basis of fuel type, the market is divided into:
- Air Turbine Fuel
- Jet A
- Jet A1
- Jet B
- JP 5
- JP 8
Based on aircraft type, the industry can be segmented into:
- Fixed Wings
By end use, the industry is categorized into:
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Aviation Fuel Market Trends
Regionally, North America and Europe holds the largest share in global aviation fuel market. This is attributed to high density of air traffic in the regions. Meanwhile, Asia Pacific is expected to witness the fastest growth due to increasing investment by the governments in the aviation sector, and high demands for fuel created due to increasing air traffic in the region. Further, the rapidly increasing air cargo transportation and air freight in developing countries such as China, India is likely to push the growth further.
Key Market Players
The major players in the market are BP p.l.c., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc, TOTAL SE, Indian Oil Corporation Ltd, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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