Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report ongoing study by
Infinium Global Research on the low-carbon fuel market provides an in-depth analysis
of segments and sub-segments in the global as well as regional low-carbon fuel
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional low-carbon fuel market over the short
term as well as the long term. The report is a comprehensive presentation of
trends, forecasts, and dollar values of the global low-carbon fuel market. According
to the report, the global low-carbon fuel market is projected to grow at a significant
CAGR over the forecast period of 2022-2028.
Low-carbon fuels include synthetic
hydrocarbon fuels, ammonia, biofuels, and hydrogen. They offer solutions for
reducing greenhouse gas emissions in hard-to-decarbonize sectors. They are produced using low-carbon methods,
such as clean electricity, renewable feedstocks, or fossil resources with
carbon capture, utilization, and storage. Low-carbon fuels have a wide range of
applications, including aviation, maritime shipping, heavy-duty, and
long-distance transport, high-temperature provision for industry, heating of
certain building segments, and others. Several major oil companies have started
producing low-carbon fuels either independently or in collaboration with the
emerging startups in this market space. Also, research studies are underway in
academic institutions.
The development of low-carbon
fuels has been severely impeded by the COVID-19 pandemic, making the future of
the energy transition dubious. How to advance the global energy transition in
the post-pandemic period has become a topic of discussion. The COVID-19
pandemic had an extraordinary impact on the whole energy industry, slowing down
the transition to a cleaner energy source. The transition to clean energy
following a pandemic has given rise to growing worries. The virus was
successfully confined by the pandemic lockdown procedures, preventing economic
damage. The demand for low-carbon fuels suffered greatly as a result of the
sharp decline in global trade that followed. Corporate capacity collapsed, a
significant amount of low-carbon fuel equipment manufacturing, installation,
and commissioning ceased, and much low-carbon fuel company personnel left.
The major factor driving the
market is the growing focus on the decarburization of transport, power generation, and other sectors in order to tackle climate change issues. Net-zero greenhouse
gas emissions goals are being put forward through the Paris Climate Change
Agreement and the European Green Deal. Low-carbon fuels are an important
alternative for decarbonizing transportation and energy generation and bringing
down greenhouse gas emissions. In many situations, low-carbon fuels can be used
in place of conventional fossil fuels. For instance, low-carbon fuels can be
used to power a variety of vehicles, including personal cars, ships, off-road
vehicles, trucks, and more. High percentages of low-carbon hydrogen and ammonia
can be burned in fossil fuel power plants, giving nations another tool for
decarbonizing the power sector. Also, the rising prices of conventional fuel
have been instrumental in increasing the demand for low-carbon fuels. Low-carbon
fuels such as biofuels, including ethanol, are low priced and are being
increasingly blended with fossil fuels. The production of low-carbon fuels is
also on the rise. Thus, these factors are expected to be instrumental in
driving the growth of the market. However, the high cost of transition for low
and middle-income developing countries is hampering the growth of the market.
It is costly for low and middle-income developing countries to transition to
clean or low-carbon fuels as the cost of production technology, relevant
infrastructure, and other things is high. However, increasing investments in
R&D are expected to offer growth opportunities in the market.
The global low-carbon fuel market
is segmented into North America, Asia-Pacific, Europe, and the RoW region. In
terms of revenue, North America dominated the low-carbon fuel market. North
America is one of the leading regions in the process of decarbonizing transportation
and energy generation. The production of biofuels is increasing in countries
such as the US. For instance, as per EIA, in 2021, the U.S. produced 357,502
thousand barrels of ethanol fuel, 39,019 thousand barrels of biodiesel, and
19,407 barrels of renewable diesel. Furthermore, oil conglomerates such as
Shell Corporation are collaborating with startups in order to develop
low-carbon fuels. Also, a Low-carbon Fuel Standard has been developed in the U.S. for gauging the quality of low-carbon fuels. Europe has been the toughest
implementer of its green and decarbonizing objectives and initiatives, which
has led them to adopt low-carbon fuels for land and air transportation
primarily. Low-carbon fuels are also being used for power generation in Europe.
Asia-Pacific is expected to be the fastest growing region as the adoption and
production of low-carbon fuels such as biofuels is growing in countries such as
India and China.
The report on the global low-carbon
fuel market covers segments such as type, and applications. On the basis of
type, the sub-markets include biofuel, natural gas, advanced diesel, hydrogen,
electricity, and others. On the basis of applications, the sub-markets include
vehicles, ships, planes, power generation, and others.
The report provides profiles of
the companies in the market such as Shell Corporation, BP p.l.c., Total
Energies SE, Valero Energy Corporation, Aemetis Inc, Velocys plc, World Energy,
Neste, Green Plains, ENEOS Corporation, and Others.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the low-carbon fuel market. Moreover, the study highlights current
market trends and provides forecasts from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.