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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Aviation Fuel Market Outlook
The global aviation fuel market attained 215 million tons of jet fuel in 2023. The market is expected to witness healthy growth over the forecast period of 2024-2032 to attain 402 million tons of jet fuel by 2032.
| Global Aviation Fuel Market Report Summary | Description | Value |
| Base Year | Million Tons | 2023 |
| Historical Period | Million Tons | 2018-2023 |
| Forecast Period | Million Tons | 2024-2032 |
| Market Size 2023 | Million Tons | 215.00 |
| Market Size 2032 | Million Tons | 402.00 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 7.2% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 8.3% |
| CAGR 2024-2032 - Market by Country | India | 9.5% |
| CAGR 2024-2032 - Market by Country | China | 8.0% |
| CAGR 2024-2032 - Market by Fuel Type | Air Turbine Fuel | 7.9% |
| CAGR 2024-2032 - Market by Aircraft Type | Fixed Wings | 11.5% |
| Market Share by Country 2023 | India | 3.7% |
Lucrative Growth Prospects in the Asia Pacific to Boost the Market Growth of Aviation Fuel
The market for aviation fuel is expected to be driven by the lucrative opportunities in the developing regions for market expansion, such as the Asia Pacific, which offers substantial lucrative prospects for key players. Further, considerable investment in the transportation infrastructure in the region recently has provided an impetus to the market growth of aviation fuel. Many developing nations, like India, China, Indonesia, are projected to witness huge growth over the forecast period. In addition, the growing demand for air freight in some developing countries is expected to have a positive impact over the upcoming years. Also, the rising demand for a variety of aviation fuels in the emerging markets has been boosted by the rapid growth of air cargo transportation, consequently aiding the market growth of aviation fuel.
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Aviation Fuel: Market Segmentation
Aviation fuel, an exclusive type of fuel, is generally used to energize an aircraft. This fuel is petroleum-based and is of high quality than the regular fuels used in rail transport or road transport, or others.
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On the basis of fuel type, the market is divided into:
- Air Turbine Fuel
- Avgas
- Biofuel
- Others
Air turbine fuel is further divided on the basis of type into Jet A, Jet A1, Jet B, JP 5, and JP 8.
Based on aircraft type, the industry can be segmented into:
- Fixed Wings
- Rotorcraft
- Others
By end use, the industry is categorised into:
- Commercial
- Military
- Private
- Others
The commercial segment is further segmented into passenger and cargo.
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Conscious Shift towards Cost-Effective Aviation Fuels to Aid the Market Growth of Aviation Fuel
The market for aviation fuel is driven by the robust growth in air passengers in developing nations in recent years. In addition, the growing revenue passenger kilometres in recent years are boosting the market growth of aviation fuel. Moreover, a conscious and deliberate shift towards the adoption of more cost-effective aviation fuels and fuels, which particularly have less carbon footprint is aiding the market expansion of aviation fuel. However, the market suffered a sharp decline in 2020 due to the COVID-19 outbreak, which resulted in an abrupt and prolonged suspension of aviation services so as to contain the virus. The recent ease in lockdowns and controlled domestic flights in various countries across the globe are expected to help the aviation fuel industry regain its growth.
| CAGR 2024-2032 - Market by | Country |
| India | 9.5% |
| China | 8.0% |
| Canada | 7.1% |
| Germany | 5.9% |
| Italy | 5.1% |
| USA | XX% |
| UK | XX% |
| France | XX% |
| Japan | 5.0% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Key Industry Players in the Global Aviation Fuel Market
The report gives a detailed analysis of the following key players in the global aviation fuel market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BP p.l.c.
- Chevron Corporation
- Exxon Mobil Corporation
- Royal Dutch Shell plc
- TOTAL SE
- Indian Oil Corporation Ltd
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Fuel Type |
|
| Breakup by Aircraft Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2021, the global aviation fuel market attained a volume of nearly attained 215 million tons of jet fuel.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 402 million tons of jet fuel by 2032.
The major drivers of the market include rising urbanisation and industrialisation, and the growth in air passengers and rising revenue passenger kilometres.
Increasing opportunities in the developing regions and adoption of more cost-effective aviation fuels are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The fuel types include air turbine fuel, avgas, and biofuel, among others. Air turbine fuel can be further divided into Jet A, Jet A1, Jet B, JP 5, and JP 8.
The aircraft types are fixed wings and rotorcraft, among others.
The diverse end uses for market are commercial, military, and private, among others. Commercial is further divided into passenger and cargo.
The major players in the industry are BP p.l.c., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc, TOTAL SE, and Indian Oil Corporation Ltd, among others.
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