DUBLIN, Jan. 12, 2024 /PRNewswire/ — The “Jet fuel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.
Global Jet fuel Market was valued at USD 142.08 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 12.19% through 2028.
The jet fuel market refers to the global economic system that encompasses the production, distribution, and consumption of aviation fuel specifically designed for use in jet engines. It is a vital component of the broader energy and transportation sectors, serving as the primary energy source for commercial and military aircraft. Jet fuel, typically derived from crude oil through refining processes, undergoes stringent quality standards to meet the specific requirements of aviation safety and efficiency.
This market is characterized by its sensitivity to geopolitical events, oil price fluctuations, and regulatory changes. Airlines, airports, fuel suppliers, and refineries constitute key stakeholders in this complex ecosystem. The demand for jet fuel is intricately linked to air travel, influenced by factors such as economic growth, global travel trends, and advancements in aircraft technology.
As governments worldwide focus on reducing carbon emissions, the jet fuel market is evolving to incorporate sustainable aviation fuels (SAFs) and adhere to stringent environmental regulations. The dynamics of the jet fuel market are shaped by a delicate interplay of economic, technological, regulatory, and environmental factors, making it a critical and continually evolving segment within the broader energy landscape.
Report Scope
- Economic Growth: As economies around the world continue to expand, there will be a concurrent increase in business and leisure travel, boosting the demand for air transport services and jet fuel.
- Environmental Regulations: Increasing awareness of climate change and stricter environmental regulations are pushing the aviation industry to adopt cleaner and more sustainable fuel alternatives, leading to innovation in the jet fuel market.
- Technological Advancements: Ongoing developments in aircraft technology and fuel efficiency will contribute to reduced jet fuel consumption, benefiting both airlines and the environment.
- Infrastructure Development: Investment in aviation infrastructure, including airports and fuel distribution networks, will be essential to support the growing demand for air travel and jet fuel.
- Government Policies: Government policies aimed at reducing emissions, promoting sustainable aviation fuels, and incentivizing clean technologies will play a significant role in shaping the jet fuel market.
- Globalization and Tourism: The globalization of trade and tourism will continue to drive the demand for commercial air travel and, consequently, jet fuel.
- Market Expansion in Asia Pacific: The Asia Pacific region is expected to experience the fastest growth in the jet fuel market, driven by the rapid economic development and expansion of low-cost carriers in the region.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Jet fuel Market.
- ExxonMobil Corporation
- Shell Plc
- Chevron Corporation
- BP p.l.c
- China Petroleum & Chemical Corporation, or Sinopec
- China National Petroleum Corporation
- Saudi Arabian Oil Company
- Indian Oil Corporation Ltd
- PetroChina Company Limited
- TotalEnergies SE
Report Scope:
Jet fuel Market, By Fuel Type:
- Jet A,
- Jet A1
- Jet B
Jet fuel Market, By Application:
- Commercial
- Defense
- General Aviation
- Others
Jet fuel Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Turkey
For more information about this report visit https://www.researchandmarkets.com/r/mka37j
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SOURCE Research and Markets
