Albany, NY, July 6, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "Transportation Fuel Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2014 - 2022." The report defines and segments the transportation fuel market, providing analysis and forecasts of the global consumption. According to the report, the global transportation fuel market stood at 2,332.57 MTOE in 2013 and is likely to reach 2,698.36 MTOE by 2022, expanding at a CAGR of 1.62% between 2014 and 2022.
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The global transportation fuel market has been segmented on the basis of fuel type into gasoline, diesel, aviation turbine fuel, and others. More than 90% of the global transportation fuel demand is fulfilled using fuel derived from crude oil distillation, namely gasoline, diesel, aviation turbine fuel, and bunker fuel. Increasing greenhouse gas (GHG) emissions from vehicles powered by crude oil-based fuels and depleting oil reserves have compelled governments of different countries to switch to eco-friendly and bio-based fuels. Many countries are focusing on infrastructure development to provide fuel for natural gas vehicles and raise the overall production of bio-based fuels. Demand for eco-friendly fuels from the transportation sector is anticipated to rise during the forecast period. Gasoline dominated the global transportation fuel market in 2013. Gasoline accounted for more than 40% of the global transportation fuel market in 2013. However, improving fuel economy of vehicles is expected to hamper the demand for gasoline during the forecast period. Government policies that mandate the blending of ethanol with gasoline further reduces the consumption of gasoline. Diesel held the second-largest share of the global transportation fuel market in 2013.
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The global market for transportation fuel has been segmented into North America, Asia Pacific, Europe, and RoW. North America accounted for more than 30% of the global market share in 2013. It was the largest regional segment in terms of volume in the same year. However, Asia Pacific is anticipated to dominate the global transportation fuel market by 2022. Rapid development, growing population, and increasing industrialization are fueling the demand for transportation fuel in the region.
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Some of the leading companies in the global transportation fuel market include Royal Dutch Shell plc, BP p.l.c., ExxonMobil Corporation, Chevron Corporation, and Saudi Arabian Oil Co. The report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, and recent developments.
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The Transportation Fuel Market has been segmented as follows:
Global Transportation Fuel Market: Type Analysis
- Aviation Turbine Fuel (ATF)
Global Transportation Fuel Market: Regional Analysis
- Rest of Europe
- Rest of Asia Pacific
Rest of the World (RoW)
- South Africa
- Rest of Latin America
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research