Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The "Global E-fuels Market by Product Type (E-Diesel, E-Gasoline, E-Kerosene), State (Gas, Liquid), Source, Technology, End-Use - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The E-fuels Market grew from USD 23.31 billion in 2023 to USD 28.16 billion in 2024. It is expected to continue growing at a CAGR of 21.44%, reaching USD 90.85 billion by 2030.
This eco-friendly alternative significantly diminishes the carbon footprint, contributing to sustainable transportation and energy systems. E-fuels primarily find their use in the progressive transportation sector, offering a clean and sustainable solution for automobiles, aviation, and marine transportation. Stringent emission standards and increasing demand for low-emission transport sector alternatives globally are driving the e-fuels market growth. However, the high production costs, lack of established supply chains, and competition with battery-based electric vehicles pose significant challenges to the adoption of e-fuels.
Moreover, technological advancements in fuel efficiency and renewable energy integration into E-fuel production, emphasis on cost-effective and energy-efficient production, and robust storage and distribution infrastructure development present the future growth prospect for the e-fuels market.
Regional Insights
In the Americas, there is a significant and accelerating growth rate in the e-fuels market, attributed to increased government investments and regulations promoting the use of eco-friendly fuels. The U.S. and Canada are presently at the forefront, spearheading technological advances and product developments in this sector.
The EMEA region shows promising growth in the e-fuels market, with Europe contributing majorly to the adoption of e-fuels to meet their CO2 reduction targets. However, the Middle East and Africa represent untapped potential owing to minimal to moderate advancements in the e-fuels market.
The fastest growth rate in the e-fuels market is expected within the APAC region. This is mainly attributed to increased environmental awareness and stringent government regulations regarding carbon emissions, especially in countries including Japan and China. Moreover, emerging economies such as India are anticipated to contribute significantly to the e-fuels market in the near future with the government's vision for renewable energy utilization.
Market Drivers
- Increasing focus on decarbonization and transition to renewable energy sources
- Growing number of automotive vehicles globally
- Booming trade activities and proliferating eCommerce activities globally
Market Restraints
- High cost of development of e-fuels
Market Opportunities
- Increasing research and development activities to develop novel e-fuels
- Rising investment activities by airlines in adopting e-fuels
Market Challenges
- Rising preference for electric and hybrid vehicles
Market Segmentation Analysis
- Product Type: Expanding usage of hydrogen as a versatile e-fuel for power generation
- State: Growing adoption of gas e-fuels gas across high-usage sectors as a cleaner alternative
- Source: Rising preference for solar energy as it provides constant energy to manufacture E-fuels
- Technology: Growing usage of hydrogen technology which suits eco-conscious companies looking to minimize emissions
- End-use: Emerging application of e-fuels across the automotive industry to reduce carbon emissions
Recent Developments
Aramco and ENOWA to develop first-of-its-kind e-fuel demonstration plant
Aramco and ENOWA have signed a development agreement to construct the world's first e-fuel demonstration plant at ENOWA's Hydrogen Innovation and Development Center in NEOM. The facility produces 35 barrels per day of low-carbon synthetic gasoline from green hydrogen and captured carbon dioxide.
Norwegian and Norsk e-Fuel partner to build first-ever full-scale e-fuels production plant
Norwegian has partnered with Norsk e-Fuel to construct a full-scale production plant for zero-emission electricity-based fuel (e-fuel). The facility will be located in Mosjoen, Norway, and is projected to produce sustainable aviation fuel by 2026.
SWEN Capital Partners invests in e-fuels producer Arcadia
SWEN Capital Partners has invested in Arcadia eFuels, a Danish startup, to support the development of their PtX facility. This facility is the first of its kind and will produce low-carbon e-fuels for the aviation industry. With the investment from Swift 2, Arcadia commenced front-end engineering designs for production sites, with construction set to begin by late 2023 or early 2024.
Companies Profiled:
- Alternoil
- Arcadia eFuels
- atmosfair
- BP
- CAC Engineering
- Ceres Power Holdings
- E-Fuel Corporation
- Enel Green Power
- ENGIE Group
- ExxonMobil Corporation
- HIF Global
- INERATEC
- Infinium
- Linde
- Mabanaft
- MaireTecnimont
- Neste Corporation
- Norsk e-Fuel
- Ramboll Group
- Repsol
- RWE
- Sasol
- Saudi Arabian Oil Company
- Siemens
- Spark e-Fuels
- Sunfire
- Synhelion
- TotalEnergie
- Orsted
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $28.16 Billion |
| Forecasted Market Value (USD) by 2030 | $90.85 Billion |
| Compound Annual Growth Rate | 21.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.2. Market Segmentation Analysis
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis
6. E-fuels Market, by Product Type
6.1. Introduction
6.2. E-Diesel
6.3. E-Gasoline
6.4. E-Kerosene
6.5. E-Methane
6.6. E-Methanol
6.7. Ethanol
6.8. Hydrogen
7. E-fuels Market, by State
7.1. Introduction
7.2. Gas
7.3. Liquid
8. E-fuels Market, by Source
8.1. Introduction
8.2. Solar
8.3. Wind
9. E-fuels Market, by Technology
9.1. Introduction
9.2. Fischer-Tropsch
9.3. Hydrogen technology
9.4. Reverse-Water-Gas-Shift (RWGS)
10. E-fuels Market, by End-Use
10.1. Introduction
10.2. Automotive
10.3. Aviation
10.4. Industrial
10.5. Marine
10.6. Railway
11. Americas E-fuels Market
12. Asia-Pacific E-fuels Market
13. Europe, Middle East & Africa E-fuels Market
14. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/4gecc5
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