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E-fuels Market worth $49.4 Billion by 2030

11-10-2023 09:18 AM CET | Energy & Environment

Press release from: MarketsandMarkets

The global E-fuels Market is expected to reach USD 49.4 billion by 2030 from USD 6.2 billion in 2023 at a CAGR of 34.5% during the 2023-2028 period according to a new report by MarketsandMarkets™. The potential for e-fuels to address carbon emissions and energy storage concerns is driving up demand for them. E-fuels, which are synthetic fuels made from renewable energy, provide a way to decarbonize sectors that rely significantly on liquid fuels, such as transportation and aviation. They can store extra renewable energy and provide a carbon-neutral option for difficult-to-electrify applications like heavy-duty trucks, shipping, and industrial processes. Because of their versatility, e-fuels are an essential component of efforts to cut greenhouse gas emissions and move to more sustainable energy solutions, fueling their rising demand in sectors aiming for carbon neutrality and energy security.

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E-fuels are also gaining prominence because they can be created from a range of feedstocks, including collected carbon dioxide and green hydrogen, making them a versatile solution for lowering carbon emissions across industries. In addition to transportation and aviation, e-fuels are being used in power production, heating, and as an energy carrier in isolated or off-grid regions, which is increasing market demand. The increased emphasis on sustainable energy sources, as well as the need to decarbonize diverse sectors, are accelerating e-fuel research, development, and acceptance as a critical component in the global transition to a greener and more environmentally responsible energy landscape.

The e-ammonia, by fuel type, is expected to grow at the highest CAGR during the forecast period.

Based on fuel type, the e-fuels market has been split into e-methane, e-methanol, e-ammonia, e-kerosene, e-diesel, and e-gasoline. E-ammonia is expected to grow at the highest CAGR during the forecasted period. The increasing global demand for E-ammonia can serve as an energy carrier, facilitating the transport and storage of renewable energy, which is crucial for stabilizing the grid and ensuring a consistent energy supply.

The liquid segment, by state, is expected to be the largest segment during the forecast period.

This report segments the e-fuels market based on state into two segments: gas and liquid. The liquid segment is expected to be the largest and the fastest segment during the forecast period owing to its high wide range of applications, including transportation, aviation, shipping, and industrial processes, making them a versatile solution for decreasing carbon emissions in a variety of industries. Because liquid e-fuels are compatible with current combustion engines, fuel distribution systems, and storage infrastructure, they are a practical and versatile solution for a wide range of applications.

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Europe is expected to be the largest region in the e-fuels market.

Europe is expected to be the largest e-fuels market during the forecast period. The Europe region comprises major economies such as Germany, Norway, UK, Denmark, Sweden, and Rest of Europe. Rest of Europe primarily includes Italy, France, and Poland. This is due to a variety of factors, including the region's growing population, more urbanisation, and increased energy demand. As a result of these causes, carbon emissions have increased significantly, posing a serious environmental problem to the region. European governments are increasingly supportive of e-fuels as a means of reducing carbon emissions and improving air quality. E-fuels are made from renewable energy sources including solar and wind power and can be used to power vehicles, generate electricity, and heat homes and businesses.

Key Market Players:

Some of the major players in the e-fuels market are including Saudi Arabian Oil Co. (Saudi Arabia); Audi AG (Germany); Siemens Energy (Gemany); Chart Industries (US); Sunfire Gmbh (Germany); Mitsubishi Corporation (Japan); Repsol (Spain); and Norsk E-Fuel (Norway). The major strategies adopted by these players include contracts, agreements, partnership, collaborations, and expansions.

Content Source: https://www.marketsandmarkets.com/PressReleases/e-fuels.asp

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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