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Ground Transportation Fuel Market

Ground Transportation Fuel Market

Ground Transportation Fuel Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

149

Base Year:

2021

Date

May - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1590

Segments Covered
  • By Type Diesel, Gasoline, Biofuel, Natural Gas, Others
  • By Vehicle Type Light Vehicle, Heavy Vehicle
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 730.1 Billion
Revenue 2028Revenue 2028: USD 827 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 2.1%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Ground Transportation Fuel Market Share

Global Ground Transportation Fuel Market

Ground Transportation Fuel Market- By Type, Vehicle Type and Region.

Market Synopsis:

The Global Ground Transportation Fuel Market is valued at USD 730.1 Billion in the year 2021 and is projected to reach a value of USD 827 Billion by the year 2028. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 2.1% over the forecast period.

Ground Transportation Fuel Market Size, 2021 To 2028 (USD Billion)

Transportation fuels are energy sources used to power various modes of transportation, and they include petroleum, biomass, and synthetic fuels. Transportation fuels are used by all modes of transportation, including road, rail, air, and water. The demand for various types of transportation fuel is determined by the mode of transportation. Petroleum-derived fuels are the most commonly used for transportation.

However, as emission control standards become more stringent, there has been a shift toward the use of other cleaner fuels. People prefer private transportation to public transportation because it is more comfortable, less expensive, and takes less time to travel. In most countries, this has resulted in an increase in the number of people owning vehicles. In parallel, demand for Ground Transportation Fuel has increased.

As governments in various countries have now proposed strict emission standards, there has been an increase in the use of other fuels that are not derived from crude oil. As a result of new ways to feed the vehicle and new competitors entering the market, the transportation market has grown even larger. The increase in the number of vehicles is the primary market driver for the global transportation fuel market. The rise in people's disposable income has also played a role in the increase in the number of vehicles, which has led to the growth of the global transportation fuel market.

The environmental issues caused by transportation fuel combustion are a major market restraint for the Global Ground Transportation Fuel Market. Because emission control norms have become more stringent in each country, pollution caused by transportation fuel is a major market restraint in the global transportation fuel market's growth.

Market Segmentation:

The Ground Transportation Fuel Market is segmented on the basis of Type and Vehicle Type. On the basis of Type, the market is segmented into Diesel, Gasoline, Biofuel, Natural Gas and Others. On the basis of Vehicle Type, the market is segmented into Light Vehicle and Heavy Vehicle.

Below tree is interactive. You can click the nodes to get more information.

Based on Type:

Due to rising diesel demand in developing economies, the diesel segment has a significant share of the growth of the Ground Transportation Fuel Market. Diesel is a flammable liquid that can be used as a substitute fuel in diesel engines. Diesel has more energy than gasoline, putting less strain on the engines of lighter trucks and cars while providing better performance in larger heavy-duty trucks like semi-trailers and other large carriers. During the forecast period, the biofuel segment grew the fastest.

Based on Vehicle Type:

Over the forecast period, light vehicles will dominate market growth. The market's demand is determined by the relationship between rising income, automobile ownership, and vehicle distance travelled. Car ownership in the world is one car for every two people. Another trend is the increasing popularity of minivans, sport utility vehicles, and light-duty trucks for personal use, which has reduced fuel economy.

Asia Pacific Accounts for the Largest Share of Ground Transportation Fuel Market During the Forecast Period

Asia Pacific acquires the largest market share with a share of 38.20%. The Asia Pacific region has seen the highest growth in transportation fuel demand in recent years, and this trend is expected to continue in the forecast period. The increase in the number of vehicles, primarily in China, India, and Indonesia, as people's disposable income has increased, has aided growth in this region. The increase in the number of vehicles is the primary market driver for the Ground Transportation Fuel Market. The rise in people's disposable income has also played a role in the increase in the number of vehicles, which has led to the growth of the Global Ground Transportation Fuel Market. People prefer private transportation to public transportation because it is more comfortable, less expensive, and takes less time to travel. In most countries, this has resulted in an increase in the number of people owning vehicles. In parallel, the demand for transportation fuel has increased.

Competitive Landscape:

Key players operating in the Global Ground Transportation Fuel Market include Occidental Petroleum Corporation, Halliburton Energy Services, Schlumberger Ltd, Shell Plc, Exxon Mobil, British Petroleum PLC, Chevron Corporation, Total Energies, C&J Energy Services, Cudd Energy Services.

Segmentation of the Global Ground Transportation Fuel Market:

Parameter Details
Segments Covered
  • Type (Diesel, Gasoline, Biofuel, Natural Gas, Others)
  • Vehicle Type (Light Vehicle, Heavy Vehicle)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Occidental Petroleum Corporation
  • Halliburton Energy Services
  • Schlumberger Ltd
  • Shell Plc
  • Exxon Mobil
  • British Petroleum PLC
  • Chevron Corporation
  • Total Energies
  • C&J Energy Services
  • Cudd Energy Services
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Ground Transportation Fuel Market to Reach Valuation of USD 827 Billion by 2028 - An increase in Vehicle Numbers to drive the Global Ground Transportation Fuel Market Growth
From the period of 2022 to 2028, the Global Ground Transportation Fuel Market is expected to reach USD 827 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 2.1%. The largest fuel market for global transportation fuel use is road transportation. Furthermore, each trans...
FAQ
Frequently Asked Question
  • The global Ground Transportation Fuel valued at USD 730.1 Billion in 2020 and is expected to reach USD 827 Billion in 2028 growing at a CAGR of 2.1%.

  • The prominent players in the market are Occidental Petroleum Corporation, Halliburton Energy Services, Schlumberger Ltd, Shell Plc, Exxon Mobil, British Petroleum PLC, Chevron Corporation, Total Energies, C&J Energy Services, Cudd Energy Services.

  • The market is project to grow at a CAGR of 2.1% between 2021 and 2028.

  • The driving factors of the Ground Transportation Fuel include

    • Increase in the number of vehicles

  • Asia Pacific was the leading regional segment of the Ground Transportation Fuel in 2020.