Dublin, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The "Global Sustainable Aviation Fuel Market by Fuel Type (Biofuel, Hydrogen Fuel Cell, Power to Liquid, Gas to Liquid), Biofuel Manufacturing Technology, Blending Capacity (Below 30%, 30% to 50%, Above 50%), Platform and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global sustainable aviation fuel market is expected to grow from USD 1.1 billion in 2023 at a CAGR of 47.7% during the forecast period, reaching USD 16.8 billion by 2030
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Sustainable Aviation Fuel market.
The sustainable aviation fuel (SAF) market is experiencing robust growth driven by several key factors. Heightened awareness of climate change and the need to reduce carbon emissions in the aviation industry is a primary catalyst, prompting airlines to adopt SAF as a cleaner alternative to traditional jet fuels.
Regulatory initiatives and mandates, such as those set by the International Civil Aviation Organization (ICAO) and various governments, further propel market expansion. Increasing investments in research and development to enhance the production efficiency of SAF, coupled with advancements in feedstock technologies, contribute to the sector's growth.
Neste (Finland), World Energy (Ireland), Total Energies (France), LanzaTech (US), and Fulcrum BioEnergy (US), among others are some of the leading players operating in the sustainable aviation fuel market report.
A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the sustainable aviation fuel market. Competitive analysis of upcoming startups in the sustainable aviation fuel market ecosystem is covered in this report.
Growing industry collaboration and the economic advantages of scale is driving the market for the commercial aviation segment
Based on Platform, the commercial aviation segment is expected to hold the largest market share. Commercial aviation holds a substantial share in the sustainable aviation fuel (SAF) market primarily due to collaborative efforts within the industry. Airlines, aircraft manufacturers, and biofuel producers are increasingly forming strategic partnerships to address the challenges of SAF adoption.
This collaboration streamlines the development, certification, and deployment of sustainable aviation fuels, fostering a more cohesive and efficient approach. As commercial aviation giants actively invest in research and development, the sector not only pioneers technological advancements but also establishes a strong market presence, steering the trajectory of SAF towards widespread acceptance and adoption in the aviation industry.
The hydrogen fuel cells segment leads the sustainable aviation fuel (SAF) market with its high energy density, offering an efficient and effective solution
Based on Fuel Type, the hydrogen fuel cells segment gains prominence in the sustainable aviation fuel (SAF) market due to its high energy density, offering an efficient and viable solution for powering aircraft, thereby contributing to the aviation industry's transition towards cleaner and more sustainable fuel options.
Additionally, hydrogen's versatility and compatibility with existing aircraft infrastructure further solidify its position as a key player in driving the transition toward greener aviation.
North America leads the sustainable aviation fuel market due to progressive regulatory frameworks, robust R&D initiatives, and strategic collaborations, creating an environment conducive to innovation and widespread adoption
The North American market holds a larger share of the sustainable aviation fuel (SAF) market primarily due to progressive regulatory frameworks promoting environmental sustainability and emissions reduction in the aviation sector.
Additionally, the region benefits from a robust ecosystem of research and development, strong investment initiatives, and strategic collaborations among airlines, biofuel producers, and government agencies, fostering a conducive environment for SAF innovation and adoption. This proactive approach positions North America at the forefront of the global SAF market, reflecting a commitment to sustainable aviation practices and aligning with the broader industry's push towards reducing carbon footprints.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 239 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.1 Billion |
| Forecasted Market Value (USD) by 2030 | $16.8 Billion |
| Compound Annual Growth Rate | 47.7% |
| Regions Covered | Global |
Premium Insights
- Rise in Demand for Reduction of Carbon and GHG Emissions
- Below 30% Segment to Hold Largest Market Share in 2030
- HEFA-SPK to Surpass Other Segments During Forecast Period
- Middle East to be Fastest-Growing Market During Forecast Period
Use Case Analysis
- Offtake Agreements
- Sunfire E-Crude Plant
- Power-To-Liquid Technology Plant
- Green Propellant Infusion
Market Dynamics
Drivers
- Focus on Reducing Greenhouse Gas (GHG) Emissions
- Rise in Air Passenger Traffic
- Higher Fuel Efficiency Than Conventional Jet Fuels
Restraints
- Shortage of Feedstocks and Refineries
- Significant Price Difference Between Sustainable and Conventional Jet Fuels
Opportunities
- Increasing Demand for Sustainable Aviation Fuel from Airlines
- Sustainable Aviation Fuel's Drop-In Capability Boosts Demand for Carbon Footprint Reduction
- Government Initiatives for Sustainable Fuel Alternatives
Challenges
- High Operating Cost of Airlines
- Inconsistencies in Techno-Economic and Lifecycle Analyses
- Huge Capital Requirement for Approval and Certification of Sustainable Aviation Fuel
- Limitations Associated with Blending Capacity
Cost Contribution of Elements Across Sustainable Aviation Fuel Supply Chain
- Factors Influencing Sustainable Aviation Fuel Cost
- Improved Feedstock Yields
- Advanced Bio-Manufacturing Technology
- Increased Production of Sustainable Aviation Fuel
- Role of Sustainable Aviation Fuel Certificates, Registries, and Book and Claim Systems
- Sustainable Aviation Fuel Certificates
- Sustainable Aviation Fuel Registries
- Book and Claim Systems
Technology Trends
- Hydrothermal Liquefaction
- Pyrolysis
- Alcohol-To-Jet (ATJ)
- Hycogen
- Fischer-Tropsch (FT)
- Hybrid Electric Propulsion
- Electrofuel
Impact of Megatrends
- Blockchain Integration for Supply Chain Transparency
- Artificial Intelligence for Feedstock Optimization
- Advanced Analytics for Market Forecasting
- Collaborative Industry Platforms for Knowledge Sharing
- Circular Economy Initiatives for Feedstock Utilization
Company Profiles
Key Players
- Neste
- Fulcrum Bioenergy
- Lanzatech
- World Energy, LLC
- Totalenergies
- Gevo
- SG Preston
- Velocys PLC
- Northwest Advanced Bio-Fuels, LLC
- SkyNRG
- Red Rock Biofuels
- Aemetis, Inc.
- Prometheus Fuels
- Wastefuel
- Alder Renewables
- SAF+ Consortium
- Preem AB
- OMV Group
- BP P.L.C.
Other Players
- Atmosfair
- Phillips 66 Company
- Sundrop Fuels, Inc.
- Hypoint Inc.
- Zeroavia, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/6t4ei8
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