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North America Biofuels Market is Expected to Increase around US$ Mn by 2025, Due to Increased Application of Biofuels in Transport and Power Generation
North America Biofuels Market is Expected to Increase around US$ Mn by 2025, Due to Increased Application of Biofuels in Transport and Power Generation“The North America Biofuels Market is anticipated to reach about US$ Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to increased application in transport and power generation.
Precision Business Insights (PBI) in its report titled “North America Biofuels Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
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The North America biofuels market size was accounted for US$ Mn in 2018 and anticipated to account for US$ Mn by 2025. Biodiesel used as replacements for transportation fuels like petroleum, diesel and jet fuel will create a demand for the growth of North America biofuels market. However, factors such as exhausting fossil fuels, growing North America population, and stringent environmental policies are stoking the growth of the market.
North America biofuels market segmented on the basis of type, application and end user.
Biodiesel Segment Expected to Dominate the Market
Based on type, the North America biofuel market is segmented into biodiesel and bioethanol. Biodiesel segment is expected to dominate the market due to increasing environmental concerns and the need for energy independence. Biodiesel can be produced using various feedstocks and can be used in diesel vehicles without any modification to the engine.
U.S, Accounts for Major Revenue Share for North America Biofuels Market
Precision Business Insights (PBI), North America biofuels market report analyses the market in different countries of North America. U.S is expected to dominate the North America biofuels market. U.S market has lucrative growth attributed to increased use of green-fuels consumption to minimize ill effects on the environment.
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Strategic Collaboration Play Vital Role in North America Biofuels Market
Market strategies such as collaboration play an important role in the development of the market. For instance, In February 2016, Renewable Energy Group Inc. (Biofuel producer in U.S) has signed an agreement with Sanimax Energy, which is a U.S based company for acquiring its 20 million gallon nameplate capacity biodiesel refinery.
Key players in the market Aceites Manuelita S.A, Abengoa Bioenergy, Bajaj Hindustan Ltd, Archer Daniels Midland Company, Beckons Industries Ltd, BlueFire Ethanol Fuels Inc, Imperium Renewables, Inc, Renewable Energy Group Inc, Bangchak Petroleum Public Company Ltd, Solazyme Inc, Edmonton, Cosan S.A. Industria E Comrcio.
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Detailed Segmentation
By Type
o Bioethanol
o Biodiesel
By Application
o Solid (Biocoal, Biochar)
o Fuel Pellets Liquid (Biodiesel and Bioethanol)
o Gaseous (Biogas, Biopropane, and Syngas)
By Distribution Channel
o Hospitals
o Clinics
o Ambulatory Surgical Centers
o Others
Geography
o North America
U.S.
Canada
Get Full Summary @ https://precisionbusinessinsights.com/market-reports/north-america-biofuels-market/
About Precision Business Insights:
Precision Business Insights is one of the leading market research and business consulting firm, which follow a holistic approach to solve needs of the clients. We adopt and implement proven research methodologies to achieve better results. We help our clients by providing actionable insights and strategies to make better decisions. We provide consulting, syndicated and customised market research services based on our client needs.
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