The transportation fuel market report by Transparency Market Research provides in-depth analysis of the consumption of transportation fuel globally. The report divides the market on the basis of fuel type and geography and analyses the consumption of global transportation fuel in terms of volume for the 2014 - 2022 period.
The transportation fuel market has been segmented on the basis of fuel type as gasoline, diesel, aviation turbine fuel (ATF), and others. Gasoline was the largest segment of the transportation fuel market globally, accounting for more than 40% of the global share in 2013. Consumption of gasoline was augmented by a large number of gasoline vehicles across the globe, especially in the US. However, the gasoline market is hampered by stringent emission regulations. The environmental regulatory bodies in North America and Europe have set emission targets. In order to achieve these targets, OEMs are improving engine technologies to reduce emissions and enhance fuel economy. This is anticipated to hamper the demand for gasoline during the forecast period. Diesel was the second largest segment of the transportation fuel market globally, accounting for more than 35% of the overall transportation fuel consumption in 2013. Diesel is majorly consumed by commercial vehicles in developing economies due to increasing industrialisation and infrastructure development.
North America held the major share of global transportation fuel market, accounting for more than 30% of the global transportation fuel consumption. However, growing population, increasing industrialisation and development in Asia Pacific are anticipated to make the region the largest consumer of transportation fuel by 2022. In 2013, China was the major consumer of transportation fuel in Asia Pacific. The consumption of transportation fuel in Europeis growing at a slow rate. RoW is anticipated to be the second fastest growing market for transportation fuels during the forecast period.
Major companies in the transportation fuel market have integrated operations with established distribution channel, acting as barriers for new entrants. Some of the key market participants in the transportation fuel market include Chevron Corporation, BP p.l.c., Royal Dutch Shell plc, ExxonMobil Corporation, Phillips 66, Saudi Arabian Oil Co., and PetroChina Company Limited.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.hydrocarbonengineering.com/refining/11012016/transportation-fuel-market-report-102/