Expansion of Aviation Industry to proliferate the growth of the Global Sustainable Aviation Fuel Market
According to the MarkNtel Advisors' research report, "Global Sustainable Aviation Fuel Market Analysis, 2021," the market is expected to grow at a CAGR of 35% during 2021-26. Sustainable aviation fuel contributes to the aviation industry's emissions reduction strategy. With sustainable aviation fuels, there could be a reduction in carbon emission by around 80% compared to conventional jet fuels, without affecting the fuel efficiency. Additionally, sustainable aviation fuel has almost zero Sulphur and no aromatic component, i.e., the properties of fossil fuels. Therefore, sustainable aviation fuel offers a significant opportunity for clearing the air in the climate.
Key questions answered in the study
1. What are the current and future trends in the Global Sustainable Aviation Fuel market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Sustainable Aviation Fuel market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Sustainable Aviation Fuel market service providers across various regions?
Impact of COVID-19
The sudden outbreak of the COVID-19 pandemic has adversely affected the overall aviation industry. Every region has experienced a decline in the frequency of travelers that have left airports empty and aircraft parked. Due to the lockdown imposition and social distancing measures, the aviation industry has come to a near standstill.
Further, the temporary shutdown of manufacturing units has affected the fuel production capacity. However, as the lockdown got lifted, the aviation industry is back on track, thereby boosting the demand for sustainable aviation fuel soon.
"Global Sustainable Aviation Fuel Market Analysis, 2021" offers comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Sustainable Aviation Fuel providers across the globe. Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Hydrogen Fuel Exhibits Fastest Growth
Concerning the type of fuel, the sustainable aviation fuel market segments into Biofuel, Hydrogen Fuel, and Power to Liquid Fuel. The hydrogen fuel segment is likely to grow at a considerable rate during the forecast period. The use of hydrogen fuel helps in the reduction of greenhouse gas emissions as the gaseous emission is limited to the water vapors.
Further, refueling aircraft with hydrogen fuel is a faster process as compared to recharging batteries. Thus, the segment is likely to contribute to the growth of the global Sustainable Aviation Fuel market in the forecast period, says MarkNtel Advisors' research report "Global Sustainable Aviation Fuel Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the global Sustainable Aviation Fuel market are Neste Oyj, Red Rock Biofuels SKYNRG, Aemetis, Inc., Avfuel Corporation, SG Preston Company, Gevo Inc., Velocys, Ballard Power Systems, Fulcrum Bioenergy, Aemetis, Inc, Sundrop Fuels Inc., SG Preston Company, Eni SPA, ZeroAvia, Inc.,