EVs Are Offering Stiff Competition to the Biofuels Market

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Biofuels have been helping to decarbonize the transportation sector for decades. More recently, however, electrification has drawn increased attention and interest as evidenced by a spike in EV sales. Decarbonization in the transportation industry stands at a crossroads while many factors are driving faster and deeper adoption of EVs, including government incentives, lower prices, and improved performance. At the same time, biofuels continue to evolve to include new drop-in products that will target applications beyond road transport to also include transoceanic shipping and aviation.

This Guidehouse Insights report reviews how these market trends are forcing automakers, biofuels producers, and other industry stakeholders to readdress their approaches to decarbonizing transportation. It also provides detailed and actionable recommendations for industry participants to address this new phenomenon.

Product Code: SI-EVBM-24

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Recommendations

As EV Sales Accelerate, Biofuels Growth Is Coasting

Driven by Government Policies, EVs Have Hit the Pavement Hard

Biofuels Have Had Steady Road Traction but Could Chart a New Course

EVs Look to Overtake Liquid Fuels for Short-Distance Travel

New EV Sales Show No Signs of Slowing, with China Still in Pole Position

Changes to Biofuels Policies Could Present Roadblocks to Growth

New Products and Applications Will Steer the Growth of Biofuels Demand

EVs and Biofuels Should Move into Their Own Lanes

Policymakers Must Offer Clear Net-Zero Signposts and Incentives

Biofuel Producers Must Create a Roadmap for Future Opportunities

Battery Makers Are Key to Driving Down EV Prices

Automakers Should Look Down the Road to New Opportunities