Aviation gasoline is utilized for powering piston engine aircraft. Moreover, escalating demand for piston engine aircraft for aerial, training, and sports applications drives the growth of the global aviation gasoline (Avgas) market.
PORTLAND, Ore., Aug. 31, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Aviation Gasoline (Avgas) Market by Grade Type (Avgas 100 (Green), Avgas 100LL (Blue), Others), by Aircraft Type (Fixed Wings, Rotorcraft, Others), by Application (Civil, Military, Sports and Recreational, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” As per the report the global aviation gasoline (Avgas) industry was estimated at $12.5 billion in 2021, and is set to reach $18.8 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, restraints, and opportunities
Aviation gasoline is utilized for powering piston engine aircraft. Moreover, escalating demand for piston engine aircraft for aerial, training, and sports applications drives the growth of the global aviation gasoline (Avgas) market. Moreover, a rise in the use of helicopters and small aircraft for agriculture and leisure activities will boost global market trends. The rise in the use of unleaded aviation gasoline in private aviation and general aviation is predicted to create new growth opportunities for the global industry. Furthermore, the huge allocation of funds by the government for new airport construction will increase the scope of the market growth across the globe. Nevertheless, oscillations in crude oil costs and growing concerns over high carbon emissions can put brakes on the growth of the global market.
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Covid-19 scenario:
The COVID-19 pandemic severely impacted the growth of the global aviation gasoline (Avgas) market due to travel restrictions and cancellation of journeys through aircraft leading to low demand for aviation gasoline.
During the COVID-19 pandemic outbreak there was a reduction in operations, thereby adversely affecting the growth of the global market.
Due to restrictions on corporate and private aircraft operations, the use of aviation gasoline is still less in comparison to pre-COVID-19 times.
The avgas 100 (Green) segment to dominate the global market in terms of revenue by 2031
Based on the grade type, the avgas 100 (green) segment contributed to the highest market share in 2021, accounting for half of the global aviation gasoline market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The growth of this segment over the forecast period can be attributed to the increase in air sport and recreation activities across the globe. The report also includes other segments such as avgas 100LL (blue) and others.
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The fixed wings segment to hold the major market share over 2022-2031
On basis of the aircraft type, the fixed wings segment accounted for the highest share of the global market in 2021, contributing more than half of the global aviation gasoline (Avgas) market share. Moreover, the same segment is set to contribute majorly toward an overall market share in 2031. The growth of the segment during the forecast timeline is due to the wide application of fixed-wing aircraft in military, civil, and recreational activities. Furthermore, a rise in aircraft demand due to a surge in the number of passengers will boost segmental growth over the forecasting years. The report also analysis other segments such as rotorcraft and others.
The civil segment to dominate the global market in 2031
In terms of application, the civil segment contributed a major share of the global market in 2021, accounting for around half of the global aviation gasoline (Avgas) market share. Furthermore, the same segment is set to contribute majorly towards the overall market growth by 2031. In addition, the civil segment is projected to record the fastest CAGR of 4.3% from 2022 to 2031. The growth of the civil segment over the forecast period can be credited to the large-scale use of business aircraft in forest fire fighting, medical evacuation, farming operations, freight hauling, traffic reporting, and pipeline surveillance. The report also encompasses other segments such as military, sports and recreational, and others.
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North American Market to retain its dominant status in 2022-2031
Based on the region, North America contributed notably toward the global aviation gasoline (Avgas) market share in 2021, and is projected to continue its dominance during the forecast timespan. The region accounted for more than two-fifths of the global market share in 2021 and is set to continue its domination of the market in forecasting years. The regional market growth can be attributed to the presence of giant players in the aviation gasoline industry in the sub-continent. Moreover, huge investments in R&D of various grades of fuel in countries such as the U.S. will expedite regional market growth. In addition, the aviation gasoline (Avgas) market in the Asia-Pacific is predicted to register the highest CAGR of 5.4% from 2022 to 2031. The growth of the regional market over the forecast period can be credited to the introduction of new airports and air travel routes both international and domestic in the region. Apart from this, the surge in disposable income has increased tourism activities in the Asia-Pacific. This resulted in a rise in air travel leading to the huge demand for aviation gasoline in the region. The report also includes other regions such as LAMEA and Europe.
Major market players
ExxonMobil Corporation
Shell plc
BP plc
TotalEnergies SE
Repsol S.A.
Vitol Group
Phillips 66
Indian Oil Corporation Limited
Naftal
Hjelmco Oil AB
Chevron Corporation
Oman Oil Corporation SAOC
Sinopec Corp
Gazprom
Sasol Limited
The report analyzes these key players in the global aviation gasoline market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market growth.
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