Aviation Fuel Market Growth Analysis | BP Plc, Chevron Corp., Exxon Mobil Corp. are among key contributors
Competitive Benchmarking and Vendor Forecasts for 2020-2024
The aviation fuel market and it is expected to grow by USD 38.39 billion, accelerating at a CAGR of almost 4% during the forecast period. The market is fragmented. The research report provides insights into the top market players and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. Market players must distinguish their product and service offerings through a clear and unique value proposition in order to secure a substantial share of the market. This report will provide a detailed study of the key players with insights into their product portfolio and future pipeline. BP Plc, Chevron Corp., Exxon Mobil Corp., Hindustan Petroleum Corp. Ltd., Honeywell International Inc., Marathon Petroleum Corp., Petróleo Brasileiro SA, PJSC Gazprom, Royal Dutch Shell Plc, and and TOTAL SA. are some of the major participants in the market.
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Aviation Fuel Market: Market Highlights
- The Aviation fuel market is segmented by Product (ATF and aviation biofuel) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).
- Growth by the ATF product segment will be significant during the forecast period as it is used extensively across the world. The impending increase in the number of airlines will drive the growth of the global ATF market in the coming years as the world gradually recovers from the impact of the pandemic.
- APAC led the market with 47% of the market growth set to originate from this region during the forecast period. China is the key market for aviation fuel in APAC. Market growth in this region will be faster than the growth of the market in other regions.
- Increase in the number of aircraft is one of the primary factors driving the growth of the aviation fuel market. The rise in the number of passengers who commute frequently is expected to increase the demand for aircraft. As the world recovers from the impact of COVID-19, it is expected to witness an increase in air travel which would drive, airlines and air transport service providers to deploy a larger number of aircraft. The demand for aircraft is anticipated to increase significantly in APAC during the forecast period, especially due to increasing air traffic in developing countries. All these factors will help to drive growth for the market in focus.
- The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For more insights on this market: Download a Free Sample Report
Key Focus Areas in Our Reports:
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- ATF - Market size and forecast 2019-2024
- Aviation biofuel - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- BP Plc
- Chevron Corp.
- Exxon Mobil Corp.
- Hindustan Petroleum Corp. Ltd.
- Honeywell International Inc.
- Marathon Petroleum Corp.
- Petróleo Brasileiro SA
- PJSC Gazprom
- Royal Dutch Shell Plc
- TOTAL SA
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of about 4%.
- What is the incremental growth of the market?
The market is expected to grow by USD 38.39 bn through 2020-2024.
- What is a key factor driving this market?
increase in number of aircraft will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, MEA, North America, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
47% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are BP Plc, Chevron Corp., Exxon Mobil Corp., Hindustan Petroleum Corp. Ltd., Honeywell International Inc., Marathon Petroleum Corp., Petróleo Brasileiro SA, PJSC Gazprom, Royal Dutch Shell Plc, and and TOTAL SA.
- What are the market segments covered in this report?
The market is segmented by Product (ATF and aviation biofuel) and Geographic Landscape (APAC, Europe, MEA, North America, and South America)