Selbyville, Delaware,, Oct. 29, 2024 (GLOBE NEWSWIRE) --
The e-fuel market is predicted to cross USD 76.1 billion by 2032, as reported in a research study by Global Market Insights Inc. The industry growth is led by the increasing focus on reducing carbon emissions and transitioning to cleaner energy alternatives. As governments and industries set ambitious targets to achieve net-zero emissions, e-fuels, which are synthetic fuels produced using renewable energy, have gained traction as a sustainable alternative to traditional fossil fuels. The automotive, aviation, and maritime sectors, which are under pressure to decarbonize, are particularly driving the demand for e-fuels, as they offer the potential to reduce the carbon footprint of internal combustion engines without the need for drastic infrastructure changes.
As the cost of producing green hydrogen and renewable electricity decreases, the production of e-fuels has become more economically viable, further enhancing their appeal as a long-term energy solution. Investments in R&D activities, as well as partnerships between energy companies and technology providers, are also accelerating the commercialization of e-fuels. Growing consumer awareness and preference for eco- friendly products are creating a favorable market environment, encouraging industries to adopt e-fuels as part of their sustainability strategies.
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Based on technology, the E-fuel market from the Fisher-Tropsch segment is likely to accelerate at a robust pace between 2024 and 2032 due to its ability to convert renewable hydrogen and carbon dioxide into high-quality synthetic fuels. This process offers a sustainable solution for producing e-fuels that can be used in existing internal combustion engines, making it a key technology for industries like aviation, shipping, and automotive sectors aiming to reduce carbon emissions.
In terms of application, the E-fuel market value from the automotive segment is expected to witness substantial expansion from 2024 to 2032. This is owing to the need for sustainable alternatives to traditional fossil fuels that can reduce carbon emissions while maintaining the use of existing internal combustion engine (ICE) infrastructure. E-fuels provide a practical solution for decarbonizing the transportation sector without requiring a complete shift to electric vehicles. As automakers and regulatory bodies push for cleaner energy solutions to meet environmental targets, the demand for e-fuels will substantially rise.
North America E-fuel market is estimated to attain substantial valuation by 2032 driven by increasing regulatory pressure to reduce carbon emissions and the growing demand for sustainable fuel alternatives in sectors like transportation and aviation. With the U.S. and Canada setting ambitious climate goals, there is a strong push for cleaner energy sources, including e-fuels, which can be used in existing internal combustion engines without major infrastructure changes. The advancements in renewable energy technologies and government incentives for green hydrogen production are also accelerating the development of e-fuels in the region.
Some of the prominent E-fuel market players include Sunfire GmbH, Archer Daniels Midland Co., MAN Energy Solutions, Arcadia eFuels, INFRA Synthetic Fuels, Inc., Ballard Power Systems, Inc., Norsk e-Fuel AS, Climeworks AG, Porsche, Clean Fuels Alliance America, Liquid Wind, Ceres Power Holding Plc, LanzaJet, ExxonMobil, HIF Global, Electrochaea GmbH, FuelCell Energy, Inc., and eFuel Pacific Limited. These firms are working on collaborations, acquisitions, and mergers to widen their product portfolio. For instance, in June 2024, LanzaTech and LanzaJet introduced a cost-effective alternative to the Fischer-Tropsch process for converting waste into liquid fuels.
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Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid
1.4.2.2 Public
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2019 – 2032
Chapter 3 E-Fuel Market Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
