Press release
Off Road Fuels Market Globally Expected to Drive Growth through 2025
The off road fuels market is one of the most enticing fuel markets for the consumers to their vehicles. The off road fuels also known as dyed diesels are untaxed fuel primarily used for off road applications. The illegal use of off road fuels on on-road vehicles can led to heavy penalties and fines. The off road fuels are generally dyed in red color in order to differentiate it from highway fuel and on-road diesel.
Presently, it is a standard practice to use off road fuels by farmers to power harvester, tractors and plow in farmlands. The construction companies use off road fuels in off road fuel/ diesel equipment for example bulldozer, cranes, backhoes and bobcats. Off road fuels is likely to hold significant opportunities in some aviation fuels, marine vessels and country fair and carnival rides.
Several new research is conducted to reduce the emission of toxic gases such as oxides of sulfur and nitrogen and carbon and implemented to enhance the performance of off road engine applications.
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Off Road Fuels Market: Market Dynamics
Growing demand for Ultra Low Sulfur Diesel (ULSD) or Clear Diesel in farming and construction applications in one of the driving factor for off road fuel market. Several vehicles such as tractor trailers, pickups and etc. requires ultra low sulfur diesel where off road fuels market is expected to witness substantial growth over the forecast period. The Environment Protection Agency (EPA) mandated to reduce the sulfur content for off road fuels from 5,000 ppm to less than 500ppm. Such mandate is expected to burn off road fuel cleaner and pollute less. However, 10 times increase in water due to hydro treating at the refinery causes problems related to microbe growth, winter freeze ups, more smoke, poor mileage and others. With the new technology of encapsulation of water can eliminate the aforementioned problems extend the tank life. This is being practiced in North America at large scale which is attributed to the stringent regulations to control air pollution
Heating oil industry is expected to remain another driving factor for off road fuels as Low Sulfur Diesel fulfills all the parameters laid down by Environment Protection Agency. Thus, Environmental regulations and stringent norms of many countries are expected to drive off road fuel market during the forecast period.
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Off Road Fuels Market: Region wise outlook
Based on the geography, North America is expected to account for a major share in the forecast period. The commercial producers of renewable isobutanol for new product lines of off road fuels and marine application are likely to hold vital opportunities for the region over the forecast period. Europe followed by North America is anticipated to witness substantial growth in the use of dyed bio-diesel thus results to account for potential opportunities in off road fuel market during the forecast period
Owing to robust increase in urbanization in Asia Pacific, this region is also expected to hold a moderate share in the off road fuels market. Asia Pacific is one of the region to witness mega construction, thus application of off road fuel in construction equipment is anticipated to indicate rising possibilities for the off road fuels market in this region over the forecast period.
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Off Road Fuels market: Examples of players
Some examples of renowned players in the off road fuels market are listed below:
Petro Canada
Chevron Corporation
Marathon Petroleum Company LP
Exxon Mobil Corporation
Neste Oil
Lehigh Fuels LLC
Whiteley Fuel Oil Company
Lion Oil Company
Mauger & Co., Inc
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