Jet Fuel Market – Growth, Trends, And Forecasts (2020 – 2025)
Jet Fuel market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
The market for jet fuel is expected to grow at a CAGR of more than 11% during the forecast period of 2020 – 2025.
Top Companies: BP PLC, Exxon Mobil Corporation, Royal Dutch Shell PLC, and Total SA.
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Scope of the Report
Increasing concerns over emissions from the airline industry and initiatives by the governments in developed economies to reduce airline emissions are expected to provide significant opportunities for renewable jet fuel in the future.
Key Market Trends
Increasing Air Passenger Traffic across the Globe
– Commercial segment accounts for the largest share in the jet fuel market. In 2018, around 4.3 billion passengers were carried by air transport on scheduled services, representing an increase of 6.9% over the previous year. The number of departures rose to approximately 38 million globally, and world passenger traffic, expressed in terms of total scheduled revenue passenger-kilometers (RPKs), grew solidly at 6.7% and reached approximately 8.2 trillion RPKs performed in 2018.
– Over half of the worlds 1.4 billion tourists who traveled across international borders in 2018 were transported by air.
– The low-cost carriers (LCCs) consistently grew at a faster pace than the world average growth, and it’s market share continued to increase, both in advanced and emerging economies. In 2018, the LCCs carried an estimated 1.3 billion passengers and accounted for approximately 31% of the world total scheduled passengers.
– The increase in air travel demand outstripped the industry capacity expansion. In 2018, the total capacity offered by the worlds airlines, expressed in available seat-kilometers (ASKs), increased globally by around 6.0% over the previous year.
– Therefore, factors such as positive trend in the air passenger traffic and number of departures are expected to boost the demand for jet fuel in the commercial application over the forecast period.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Jet Fuel Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The research includes historic data from 2015 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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