LONDON--(BUSINESS WIRE)--The global gas-to-liquid (GTL) market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increase in demand for clean fuel will be one of the major drivers in the global gas-to-liquid market. CO2 emissions are on peak due to the growth in economic activities, transportation sector, and chemical industry. This is compelling governments of various countries to come up with initiatives to decarbonize the transportation sector and adopt clean fuels. This, in turn, is influencing the adoption of GTL diesel and GTL naphtha as they minimize diesel emissions when blended with a suitable catalyst. These factors will boost the market growth during the forecast period.
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As per Technavio, the rapid growth of the transportation sector, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global Gas-to-Liquid (GTL) Market: Rapid Growth of Transportation Sector
The rapid growth of the transportation sector will be one of the critical trends in the global gas-to-liquid market. The transportation sector is witnessing significant growth in nations such as Japan, Brazil, and China, which has driven the need for transportation fuels. Moreover, with the stringent regulations introduced by governments to curb vehicular pollution, the adoption of clean energy fuels such as GTL diesel will increase. These factors will boost the market during the forecast period.
“Apart from the rapid growth of the transportation sector, the rise in natural gas production and the increasing investment in GTL projects are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Gas-to-Liquid (GTL) Market: Segmentation Analysis
This market research report segments the global gas-to-liquid (GTL) market by product (GTL diesel, GTL naphtha, and others) and geographical regions (ROW and MEA).
The MEA region led the market in 2018, followed by ROW. During the forecast period, the MEA region is expected to maintain its dominance over the global market. This is due to the technological expertise of vendors in constructing and operating GTL plants and the abundant availability of natural gas in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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