LONDON--(BUSINESS WIRE)--The global road transportation fuel market is expected to post a CAGR of around 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Automobile manufacturers are focusing on expanding their business in new markets by launching attractive vehicle models. For instance, vehicle manufacturers such as MG Motor, Tesla, Citroen, and Great Wall Motor are planning to enter the Indian automotive market. In addition, the development of infrastructure and transportation sectors across the world is encouraging automobile companies to produce more vehicles. With growing automobile production volumes and business expansion of automakers, the demand for road transportation fuel will increase during the forecast period.
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As per Technavio, the adoption of bio-based and clean fuels 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 market growth over 2019-2023.
Global Road Transportation Fuel Market: Adoption of Bio-Based and Clean Fuels
Growing concerns over fossil fuel emissions are forcing governments across the world to take various initiatives to reduce greenhouse gas emissions. Many developing countries, including China and India are encouraging the adoption of clean energy-powered vehicles to reduce emission levels in the transportation sector. This has increased the popularity of biofuels such as ethanol. They are used as additives in fossil fuels to curb vehicle emissions. The increasing consumption of biofuels in vehicles is expected to boost market growth during the forecast period.
“Apart from the adoption of bio-based and clean fuels, the ban on the sale of gasoline and diesel-fueled vehicles and the introduction of intelligent transportation systems and autonomous driving 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 Road Transportation Fuel Market: Segmentation Analysis
This market report segments the global road transportation fuel market by type (gasoline, diesel, biofuels, and natural gas) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to increasing investments in the refining sector of countries such as Singapore, Malaysia, and Pakistan.
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 Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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