Transparency Market Research has published a new report "Transportation Fuel Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2014 - 2022" to its report store.
Albany, NY -- (SBWIRE) -- 08/21/2015 -- The global transportation fuel market in 2013 was estimated at 2,332.57 MTOE (Million Tons of Oil Equivalent). The global transportation fuel market will grow at a CAGR of 1.62% during the forecast period of 2014 to 2022 and by 2022, the market is expected to reach 2,698.36 MTOE.The global transportation fuel market is driven by the rising disposable incomes in emerging economies. Furthermore, the growth in passenger movement and trade activities is also fueling the global transportation fuel market. On the other hand, the improving fuel economy of vehicles will restrain the market.
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By type, the global transportation fuel market is segmented into gasoline, aviation turbine fuel (ATF), diesel, and others. Over 90% of the demand from the global transportation fuel market is fulfilled by fuels derived from crude oil distillation. These include diesel, gasoline, bunker fuel, and aviation turbine fuel. The rising greenhouse gas emissions from vehicles that are powered by crude oil-based fuels and shrinking oil reserves have compelled several nations to adopt eco-friendly and biobased fuels.
Gasoline led the global transportation fuel market in 2013. Gasoline accounted for more than 40% of the global transportation fuel market in 2013. On the other hand, the rising fuel economy of modern vehicles is projected to suppress the demand for gasoline during the forecast period. Government policies that mandate the mixing of ethanol with gasoline further suppress the demand for gasoline. In 2013, diesel accounted for the second largest share in the global transportation fuel market.By geography, the global transportation fuel market is divided into North America, Europe, Asia Pacific, and Rest of the World. In 2013, the global transportation fuel market was dominated by North America. This region held more than 30% of the market. On the other hand, Asia Pacific is expected to lead the global transportation fuel market by the end of the forecast period. The factors driving the Asia Pacific transportation fuel market are increasing industrialization and growing population.
On the other hand, Europe is expected to be the least attractive segment of the global transportation fuel market in terms of consumption. Environmental regulations in Europe to enhance fuel economy are restraining the consumption of transportation fuels in this regional market. Consumers in the European transportation fuel market are more inclined towards using renewable energy to reduce harmful carbon emissions. Furthermore, several countries in this region have established a network to elevate the use of vehicles that rely on natural gas.
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Players in the global transportation fuel market will benefit from the accelerating demand for biofuels and eco-friendly fuels. Some of the top players in the global transportation fuel market are Valero Energy, Total, Sinopec, Philips, Royal Dutch Shell, PetroChina, ExxonMobil, Essar, Chevron, and BP. Business overview, market size, market share, and recent developments of these companies is available in the report.
The transportation fuel market has been segmented as follows:
Global Transportation Fuel Market: Type Analysis
Aviation Turbine Fuel (ATF)
Global Transportation Fuel Market: Regional Analysis
Browse Press Release Of Transportation Fuel Market
Rest of Europe
Rest of Asia Pacific
Rest of the World (RoW)
Rest of Latin America
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