Press release
Growth Surge in Aviation Fuel Market: A Blistering Pace of 14.4% CAGR, Economic Conditions, and Market Trends to 2025
Aviation Fuel Market
Fueled by Air Travel Demand and Economic Conditions, the Aviation Fuel Market is Set to Reach $264.83B by 2025 at a CAGR of 14.4%
What Is The Projected Market Size Of The Global Aviation Fuel Market And Its Growth Rate?
The Aviation Fuel Market has been experiencing swift growth in recent years and is forecasted to continue at a rapid pace.
• Market Size 2024: $231.54 billion
• Market Size 2025: $264.83 billion (14.4% CAGR)
• Expected Market Size 2029: $444.04 billion (13.8% CAGR)
The growth in the historic period can be primarily attributed to the rising demand for air travel, favourable economic conditions, and fluctuating fuel prices.
What Is Driving The Growth In The Aviation Fuel Market?
The escalating need for air transport worldwide is primarily propelling the Aviation Fuel Market. The rise in population and the growing incomes of the middle class have substantially increased the demand for air travel across both developed and developing countries. Consequently, the need for aviation fuel has surged as it is a necessary requirement for aircraft operation. For example, according to the International Air Transport Association, air traffic increased by 36.9% in 2023 compared to 2022, reaching 94.1% of pre-pandemic levels. Therefore, this upsurge in air transportation is projected to further drive the Aviation Fuel Market.
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Who Are the Key Players Driving Aviation Fuel Market Growth?
The key players driving the growth in the Aviation Fuel Market include:
• BP plc
• Chevron Corporation
• Exxon Mobil Corporation
• PJSC Gazprom
• Indian Oil Corporation Limited
• Royal Dutch Shell plc (Shell)
• TotalEnergies, Neste Oyj
• World Fuel Service
• Valero Energy Corporation
• Marathon Petroleum Corporation, and more.
What Are The Key Trends In The Aviation Fuel Market?
Key market trends to watch include:
• Technological advances in fuel processing
• High demand for renewable aviation fuels
• Usage of alternative fuels
• Significant investment in infrastructure
What Are The Segments Of The Global Aviation Fuel Market?
Segments in the global Aviation Fuel Market include:
1) Fuel Type: Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, Biofuel
2) Grade: Jet fuel, Aviation Gasoline, Biokerosene
3) End Use: Commercial, Military, Private, Other End Uses
Which Region Leads The Aviation Fuel Market?
North America is currently the dominant region in the Aviation Fuel Market as of 2024. However, Asia-Pacific is expected to be the fastest-growing region in the coming forecast period. The global market report covers all regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Aviation Fuel Market Global Market Report?
- Market Size Analysis: Analyze the Aviation Fuel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Aviation Fuel Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Aviation Fuel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Aviation Fuel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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