Jet fuel is also well-known as aviation turbine fuel (ATF) is a type of aviation fuel designed for usage in aircraft powered by gas-turbine engines. It is colorless to straw-colored in attendance. The jet fuel oil market has accommodated considerable share during the past few years due to the deduction in the airline ticket that has positively propelled the passenger to travel through flights.
According to the report analysis, ‘Jet Fuel Market: Current Analysis and Forecast (2019-2027)’ states that with the effective growth in connectivity globally and deducting airfares, the commercial sector is projected to register the jet fuel market throughout the review period. The effective growth in concerns over the emissions from the aviation industry led countless governments around the world to implement mandates that demand a blending of renewable aviation fuel with conventional fuel types. This is projected to create proficient opportunities for the companies comprised in the market. The effective growth in demand from military sector and augment in air transportation are projected to be foremost factors underwriting to the market growth. New flight routes and new airports also surge the requirement for fuel, which further propel jet fuel market growth.
However, stringent rules concerning use of fuel variants and additives due to high level of carbon emissions and fluctuations in crude oil prices are the aspects that largely limit the jet fuel market growth. Meanwhile, biofuels that can progressively reduce carbon emissions and emerging sustainable aviation fuel (SAF) that are under research & development proposes lucrative opportunities for jet fuel industry growth. The alternate environment friendly sources for jet fuel production greatly impact the jet fuel industry during future.
However, the growing price of crude oil has negatively impacted the jet fuel market, further coronavirus pandemic during 2020 also slumped the market size of jet fuel. In the review period, the jet fuel oil is projected to have steady growth rate due to the demand for sustainable oil such as biofuel, synthetic fuel and biodiesel.
Some of the foremost players functioning in the market include Exxon Mobil Corporation, Qatar Jet Fuel Company, Bharat Petroleum Corp. Ltd, BP PLC, Chevron Corporation, Royal Dutch Shell PLC, Total Energies SE, Allied Aviation Services Inc., Valero Marketing and Supply, Gazprom Neft PJSC. Several M&As along with partnerships have been undertaken by these players to boost their occurrence in different regions. These companies in the market are proficiently operating for ruling around the globe, leading the highest market growth, registering the great value of market share, generating the highest percentage of revenue and obtaining the competitive edge by analysing the strategies and policies of profit making and strategies of expansion, delivering the better customer satisfaction, increasing the features and benefits of jet fuel, decreasing the associated prices of such, improving the qualitative and quantitative measures of such, and implementing the policies of profit making and strategies of expansion.
For a better understanding of the market implementation of jet fuel Industry, the market is analyzed based on its worldwide existence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific will register the Jet Fuel market on account of augmenting penetration of airline utilization among middle income individual.
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