Diesel Fuel Market Top Key Players – Chevron, Saudi Aramco, LUKOIL, Conoco Philips, Royal Dutch Shell, Neste, Exxon Mobil, BP
The trends of the market show that rapid awareness globally about the use of safer and cleaner fuels might hit the market. Also, Coivd-19 has created additional problems by strict lockdowns which have put a halt to Diesel engine manufacturing, also a concerning factor to consider while forecasting the market.
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Demand for diesel is large and the market is primarily divided for the usage of Cars, Trucks, Ships, Military Vehicles, Ships, Generators, Trains, and other heavy types of machinery, farm and construction equipment (specific to the US), and many others.
Geographically, the market is divided into regions which are North America, Europe, Asia Pacific, South America, and the Middle East. Since Diesel is of immense use for Military purposes and the US is known to have huge spending on Military, thus, North American region holds a huge share of this market. Also, the Diesel market has an encouraging growth for the Asia Pacific region with an increase in mobility facilities over time. Industrial growth in Europe is an important contributing factor for opportunities in this market.
The impact of Covid-19 has produced wobbling results for the Diesel market. Demand for transportation has plunged over time because of the pandemic. Since mobility has ceased in the previous months, the market has taken a huge hit. In the forecasting period, however, promising results are expected as planes and vehicles are on the road again with industries back on using diesel for their operations.
THE WAY AHEAD
Car manufacturers seem to be shifting from making diesel engines. The additives now injected in the Diesel fuel enhance its potential making it as a cleaner and efficient as possible. The additives primarily can be used to Low operative additives, fuel stability, engine protection, and combustion additives. These additives enhance the performance of Diesel, making it to be an optimal choice as a fuel.
Diesel is more efficient and uses less than 30% fuel in diesel engines. Diesel cars have a large life span as they depreciate slowly in comparison to gasoline-driven cars, the reason being, it’s a heavier and thicker fuel. Also, the Carbon Dioxide emission of Diesel is less in comparison to its counterpart. The transition to low Sulfur diesel, in the United States, has severely affected Diesel fuel in terms of production and distribution.
With the pressure of shifting to greener fuels, Diesel faces competition from the alternatives that have been invented or discovered in the meantime namely:
LPG, Hydrogen Fuel, Natural gas, Ethanol, Electricity, and Biodiesel.
Major companies in the Diesel Fuel market are listed below:
Royal Dutch Shell
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