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The global diesel fuel market reached approximately USD 233.06 Billion in 2024. The market is projected to grow at a CAGR of 3.90% between 2025 and 2034, reaching a value of around USD 341.68 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
-
Diesel-powered engines can offer an efficiency of around 40%.
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Diesel fuel offers better performance in mountainous terrain and under challenging atmospheric conditions compared to gasoline fuel.
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North American region is anticipated to witness robust growth in market due to presence of prominent market players.
Diesel Fuel Market Share
Petroleum diesel demand is expected to increase due to its growing usage in commercial and industrial sectors
Petroleum diesel holds the highest share due to its widespread use in various commercial and industrial applications. It's the standard fuel used in large-capacity vehicles and equipment, derived from crude oil through fractional distillation. This type of diesel is preferred for its energy density and efficiency in powering heavy machinery, trucks, and buses.
Biodiesel emerges as the second most significant segment in the market. Biodiesel is made from renewable resources like vegetable oils and animal fats, offering an environmentally friendlier alternative to petroleum diesel. Biodiesel is particularly notable for its lower emissions profile and its role in reducing dependency on fossil fuels.
The transportation sector maintains its dominance in the market due to the increased implementation of diesel in long-haul transportation and heavy-duty applications
The transportation sector is expected to account for a significant diesel fuel market share over the forecast period. This growth can be attributed to the increasing preference for diesel fuel in freight and long-haul transportation owing to its range and energy density. The utilisation of diesel fuel by the transportation sector is also increasing due to the comparatively lower requirements for refuelling. The rise in an on-road fleet of buses, trucks, and cars is further bolstering the requirement for diesel fuel.
The marine sector is expected to grow significantly in the diesel fuel market due to rising usage of diesel in large vessels such as cargo ships, tankers, and large passenger ships. Diesel engines in these applications are valued for their reliability and efficiency over long voyages.
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Diesel Fuel Market Regional Analysis
*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
The market reached a value of approximately USD 233.06 Billion in 2024.
The market is projected to grow at a CAGR of 3.90% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 341.68 Billion by 2034.
The major market drivers include expansion of the construction and e-commerce sectors and increased adoption of personal vehicles with diesel engines owing to the relatively inexpensive nature of the fuel.
The key trends fuelling the growth of the market include rising investments towards the development of infrastructure for distribution of diesel fuel and growing preference for diesel fuel in freight and long-haul transportations.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant product types include petroleum diesel, synthetic diesel, biodiesel, diethyl ether, and hydrogenated oils and fats.
The major players in the market are Shell Plc, Saudi Arabian Oil Co., Petrochina Company Limited, ExxonMobil Corporation, BP Plc, Chevron Corporation, Reliance Industries Limited, Marathon Petroleum Corporation, Valero Energy Corp., Neste Oyj, and PJSC Lukoil, among others.
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