“The introduction of bio-based fuels and renewable fuels during the forecast period will accelerate the development of this global market”, says Visiongain
08 January 2020
The Road Transportation Fuel Market Report 2020-2030: Forecasts by Energy Source (Diesel, Natural Gas, Jet Fuel, Gasoline, Others), By Application (Passenger Cars, Commercial Vehicles, Train, Motorcycle), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), and analysis of leading companies operating in this industry.
One of the key drivers expected to drive the development of the industry in the coming years is the ever-increasing growth in the number of vehicles. Factors including the growing population and urbanization around the world have encouraged more vehicle manufacturing companies in the automotive industry. Due to the increasing need for both passenger cars and commercial vehicles, there has been an unparalleled growth in automobile production in recent years. In addition, several car manufacturers have also planned to expand their operations to several promising geographies, including the Indian automotive industry.
In addition, the introduction of bio-based fuels and renewable fuels during the forecast period will also accelerate the development of this global market. As they help reduce vehicle emissions, biofuels such as ethanol and biodiesel are increasingly being used as alternatives to fossil-fuel-based transport fuels. In contrast, as one of the preferred transport sources, many authorities are taking steps to reduce greenhouse gas emissions from motor vehicles, biofuels or alternative energy. Subsequently, this increased consumption of biofuels will increase the fuel market for road transport fuel until 2030.
The gas demand for road transport is highly fragmented. Through delivering a comprehensive analysis of the competitive landscape of the sector and providing information on the products offered through firms, this document on the development of the road transport fuel industry can help clients determine market potential and shape informed business decisions to improve their market position.
With a comprehensive study of business growth opportunities, it has been estimated that over the forecast period, the APAC region will account for the highest market share of road transport fuel. This is mainly due to the growing activity of road freight in the region's developing economies.
Due to the growing demand for gasoline in growing economies like India, the gasoline category would account for the largest market share of road transport oil. The report provides a detailed estimation of the contribution of the different segments of road transport fuel type to the development of the market size for road transport fuel.
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