Market Research Report
Global Jet Fuel Market Size study, by Fuel Type (Jet A, Jet A1, Jet B), by Application ( Commercial, Defense, General Aviation)and Regional Forecasts 2021-2027
|Global Jet Fuel Market Size study, by Fuel Type (Jet A, Jet A1, Jet B), by Application ( Commercial, Defense, General Aviation)and Regional Forecasts 2021-2027|
Published: May 25, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Jet Fuel Market is valued at approximately USD 192.0 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.5 % over the forecast period 2021-2027. Aviation fuels are petroleum-based fuels used in gas turbine engines for aircraft propulsion. Various types of aviation fuels are widely used to power planes in both commercial and military applications around the world. The evolution trajectories of the aviation fuel market are underpinned by rising air traffic passengers worldwide, especially in emerging economies, and fluctuations in crude oil prices. The use of aviation fuels in developing regions has increased as the number of airline passengers has increased. The demand for biofuels is being driven by a growing emphasis on reducing the overall transportation industry's carbon footprint. Renewable aviation fuels have had a huge impact. According to the International Air Transport Association, passenger air traffic has increased significantly in recent years, and is projected to double by the end of 2036. In 2018, changes in global economic conditions have resulted in a significant increase in annual air passenger numbers. Declining average airfares are a key motivator for airline passengers, especially in regions where passengers are price sensitive. The market is also expected to grow as cargo handling requirements increase. However, inadequate availability of feedstock and refineries to meet SAF production demand may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global Jet Fuel Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). Asia Pacific is the leading region across the world in terms of market share due to increasing air passengers and air freight traffic in the region especially from the emerging economies, such as India, Indonesia, and Thailand . Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to the presence of key players in the developing countries and rise in number of air travelers.
Major market player included in this report are:
Exxon Mobil Corporation
Qatar Jet Fuel Company
Bharat Petroleum Corp. Ltd
Royal Dutch Shell PLC
Allied Aviation Services Inc.
Valero Marketing and Supply
Gazprom Neft PJSC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Fuel Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018-19
Base year - 2019-2020
Forecast period - 2021 to 2027.
Target Audience of the Global Jet Fuel Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures