Dublin, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The "E-Fuels Market by Renewable Source (Solar, Winds), Fuel Type (E-Methane, E-Kerosene, E-methanol, E-Ammonia, E-Diesel E-Gasoline), State (Gas, Liquid), End Use Application (Transportation, Chemicals, Power Generation) & Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
In a shift towards sustainable energy, the global e-fuels market is poised for a significant surge, projected to grow from $6.2 billion in 2023 to a staggering $49.4 billion by 2030. This remarkable expansion, calculated at a CAGR of 34.5%, reflects an urgent and growing commitment to reducing carbon emissions across various industries, particularly in transportation and energy.
E-Ammonia: Leading the Charge in E-Fuels
Distinguished among various e-fuel types, e-ammonia emerges as the frontrunner, anticipated to dominate the market. This fuel variant, harnessed from green hydrogen, presents a multifaceted solution, applicable in transportation, agriculture as eco-friendly fertilizer, and as an energy storage medium. Its production, leveraging renewable energy sources, aligns perfectly with global efforts for cleaner energy, marking e-ammonia as a pivotal player in the e-fuels landscape.
Chemicals Segment: Fastest Growth Anticipated
In terms of end-use applications, the chemicals segment is set to experience the fastest growth. This surge is attributed to the escalating demand for sustainable raw materials within the chemical industry, resonating with the global call for environmentally responsible production processes. E-fuels in this sector are not just an alternative; they represent a paradigm shift towards a greener, more sustainable industrial approach.
Liquid E-Fuels: Versatility Leads to Market Dominance
When segmented by state, liquid e-fuels are predicted to lead the market. Their compatibility with existing infrastructure, coupled with a wide range of applications, positions them as a viable substitute for conventional fossil fuels. This segment's ascendancy is underpinned by its adaptability in transportation, heating, and industrial processes, requiring minimal infrastructural alterations.
Asia Pacific: A Significant Market Contributor
Region-wise, Asia Pacific is projected to be the second-largest market for e-fuels. This region, comprising China, Australia, India, and other Asia Pacific nations, is witnessing a surge in demand due to its rapid economic growth, escalating energy consumption, and pressing environmental concerns. The regional shift towards cleaner energy sources is further propelled by governmental policies and incentives aimed at carbon emission reduction. Additionally, increased investments in R&D and collaborative efforts are catalyzing the recognition and adoption of e-fuels as a solution for energy security and environmental sustainability.
Invaluable Insights from Industry Stalwarts
The report encapsulates insights from in-depth interviews with key industry participants, including C-level executives, subject-matter experts, and industry consultants. This comprehensive primary research, covering a wide range of company types and designations across multiple regions, underscores the robust and multifaceted nature of the e-fuels market. The distribution of these interviews reveals a balanced and diverse perspective, essential for understanding the future trajectory of the e-fuels sector.
Companies Mentioned
- Air Company
- Audi Ag
- Electrochaea GmbH
- Flemtech
- Fuelpositive
- HIF Global
- Ineratech GmbH
- Infinium
- Liquid Wind
- Man Energy Solutions
- Mitsubishi Corporation
- Norsk E-Fuel
- Perstorp Holding Ab
- Porsche Ag
- Repsol
- Saudi Arabian Oil Co.
- Siemens Energy
- Sunfire GmbH
- Technology Providers
- Topsoe
- Uniper Se
- Yara International Asa
- Orsted
For more information about this report visit https://www.researchandmarkets.com/r/9z7jzs
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