Global Aviation Fuel Market Strategies 2024, Forecast To 2033
15 Feb, 2024
The aviation fuel market has witnessed rapid growth, catapulting from $203.95 billion in 2023 to $233.22 billion in 2024, boasting a remarkable 14.4% CAGR. This surge is attributed to escalating air travel demand, economic conditions, and fluctuating fuel prices. The forecast indicates continued momentum, projecting an ascent to $394.09 billion in 2028, maintaining a 14.0% CAGR. Factors driving this growth include global economic upswing, fleet modernization, geopolitical influences, and post-pandemic recovery. Emerging trends encompass technological advances, renewable aviation fuels, alternative fuel adoption, and infrastructure investment.
Global Aviation Fuel Market Key Driver
The rise in air transportation globally drives the growth of the aviation fuel market. With significant increases in U.S. and Indian airline capacities, the demand for aviation fuel surges. As air transportation continues to grow, the aviation fuel market experiences heightened demand.
Get A Free Sample Of The Global Aviation Fuel Market ReportGlobal Aviation Fuel Market Segments
The aviation fuel market covered in this report is segmented –
1) By Fuel Type: Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, Biofuel
2) By Grade: Jet fuel, Aviation Gasoline, Biokerosene
3) By End Use: Commercial, Military, Private, Other End Uses
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas the largest region in the aviation fuel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aviation fuel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Aviation Fuel Industry Players
BP plc; Chevron Corporation; Exxon Mobil Corporation; PJSC Gazprom; Indian Oil Corporation Limited; Royal Dutch Shell plc (Shell); TotalEnergies; Neste Oyj; World Fuel Service; Valero Energy Corporation; Marathon Petroleum Corporation; Air BP; ConocoPhillips; PetroChina; China Petroleum & Chemical Corporation (Sinopec); Hindustan Petroleum Corporation Limited; Bharat Petroleum Corporation Limited; Reliance Industries Limited; China National Aviation Fuel Group Corporation; Puma Energy; Vitol; Trafigura; Glencore; Mercuria Energy Group; Gunvor Group; Eastern Aviation Fuels; Aviation Fuel Management; Avfuel Corporation; EPIC Fuels; World Jet Inc.
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Aviation Fuel Market Overview
Aviation fuels are a specialized petroleum-based fuel used for aircraft propulsion that runs on gas turbine engines. Aviation fuels are of a higher quality than fuels that are used in less critical applications for example for heating or road transport.
Aviation Fuel Global Market Report 2023 provides data on the global aviation fuel market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aviation fuel market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.