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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Diesel Fuel Market Trends
The Euro 6 standards, implemented across the European Union, represent stringent regulations aimed at reducing harmful emissions from vehicles, including those powered by diesel engines. Euro 6 standards significantly reduce the allowable limits for exhaust emissions of nitrogen oxides (NOx), particulates, and other pollutants from diesel engines. This has necessitated the development of advanced technologies to meet these stringent criteria without compromising engine performance or fuel efficiency.
Market players in diesel fuel market are setting new benchmarks in the energy sector. Bharat Petroleum Corporation Limited (BPCL) announced a significant advancement in India's energy sector by launching domestically produced EPA-grade diesel in February 2024. This new development is crucial as it marks a shift towards enhancing India's refining capabilities and reducing dependence on expensive imports for high-quality diesel.
Laminated Veneer Lumber Market Report Snapshots
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 2023.
The market is projected to grow at a CAGR of 3.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 330.09 billion by 2032.
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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