Press release
Jet Fuel Market: Growth Boosted by Commercial Aviation Expansion and Sustainable Aviation Fuel (SAF) Initiatives
Jet Fuel Market
What Is The Projected Market Size Of The Global Jet Fuel Market And Its Growth Rate?
Jet Fuel market growth is expected to be robust due to significant transformations in the aviation sector.
• Market size in 2024: $204.34 billion.
• Market size in 2025: $214.57 billion (5.0% CAGR)
• Projected Market Size in 2029: $261.14 billion (5.0% CAGR)
Noteworthy growth elements are commercial aviation expansion, emergence of low-cost carriers, military aviation demand, and transition to sustainable aviation fuel (SAF).
What Is Driving The Growth In The Jet Fuel Market?
A surge in passenger traffic is contributing significantly to the Jet Fuel market growth. Modern-day globalization has triggered an exponential increase in air passengers, heightening the demand for commercial flights and thus increasing the usage of jet fuel. As per the International Air Transport Association (IATA), total air traffic in 2022 escalated by 64.4% compared to 2021, indicating a promising surge in demand for jet fuel.
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Who Are the Key Players Driving Jet Fuel Market Growth?
Significant contributors to the Jet Fuel market are:
• Exxon Mobil Corporation
• BP plc
• Chevron Corporation
• Valero Energy Corporation
• Shell plc
• TotalEnergies SE
• Gazprom Neft PJSC
• Indian Oil Corporation
• Bharat Petroleum Corp. Ltd.
• Honeywell International Inc.
What Are The Key Trends In The Jet Fuel Market?
Innovations shaping the Jet Fuel market include:
• Renewable aviation fuel initiatives
• Regulatory emissions standards
• Increased demand for air travel
• Geopolitical factors
• Development of electric aviation
What Are The Segments Of The Global Jet Fuel Market?
The Global Jet Fuel market is segmented by:
1) Fuel Type: Conventional Fuel-Air Turbine Fuel, Avgas, Sustainable Fuel-Biofuel, Power-To-Liquid, Gas-To-Liquid
2) Fuel Grade: Jet A, Jet A1, Jet B, TS-1
3) Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicle
4) Application: Commercial, Defense, General Aviation, Private
Which Region Leads The Jet Fuel Market?
North America maintained the lion's share in the Jet Fuel market in 2024. However, the Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa regions also hold substantial market shares.
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What Is Covered In The Jet Fuel Market Global Market Report?
- Market Size Analysis: Analyze the Jet Fuel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Jet 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 Jet Fuel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Jet Fuel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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