Adopting bio-based and clean fuels is one of the key drivers for the road transportation fuel market due to pollution standards introduced by many governments, which force the use of fuels other than those made from crude oil. Because there are more vehicle fuel options, more players can now enter the market, and it has grrown the transportation sector. Natural gas, electric hybrids, and hydrogen fuel cells are some of the alternative fuels that are expanding the market for With the usage of alternative fuels, demand for petroleum will decline in the forecast year, and use of alternatives will rise.
MARKET SCOPE
The "Global Road transportation fuel Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the road transportation fuel market with detailed market segmentation by type, vehicle type, and geography. The report provides key statistics on the market status of the leading road transportation fuel market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the market is segmented into diesel, gasoline, biofuel, natural gas, and others.
- Based on vehicle type, the market is segmented into light vehicle, and heavy vehicle.
MARKET DYNAMICS
Drivers:
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- The growth in the number of vehicles on roads is one of the key drivers supporting the road transportation fuel market growth.
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- Fluctuations in oil and gas prices may hinder the growth of the road transportation fuel market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The road transportation fuel market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the road transportation fuel market in these regions.
IMPACT OF COVID-19 ON ROAD TRANSPORTATION FUEL MARKET
COVID-19 has severely affected the growth of the road transportation fuel market. The expansions in the renewable energy sector which the government planned have also got shut-down due to COVID-19. Additionally, companies had to shut down their manufacturing plants and services as lockdowns were imposed to contain the pandemic. This resulted in increased costs of raw materials due to the shortage of supplies. Thus, the pandemic has negatively impacted the VME power supply market.
MARKET PLAYERS
The report covers key developments in the road transportation fuel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the road transportation fuel market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the road transportation fuel market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ACCIONA
- BP p.l.c.
- Chevron Corporation
- Eni Spa
- Equinor ASA
- Exxon Mobil Corporation
- Halliburton Energy Services, Inc.
- Occidental Petroleum Corporation
- Schlumberger Limited
- TotalEnergies