The market is broadly categorized into two major segments based on the application type such as aviation
turbine fuel and aviation biofuel. Aviation turbine fuel segment is growing rapidly in the market with substantial
revenue generation in the last few years. Growing demand for aviation turbine fuel segment is attributed to the
increasing use of gas-turbine engines to power aircrafts. Aviation biofuel segment has also witnessed substantial
growth due to the favorable government initiatives to promote use of biofuels and rising cost of crude oils.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation of latest technologies in oil &
gas sector, surge in number of research & development activities in the region and existence of well-established
industrial infrastructure. In European region, Germany, France, and United Kingdom are projected to witness
steady growth due to increasing adoption of the bio-fuels and renewable fuels.
Asia-Pacific region is estimated to hold major share in the aviation fuel industry with massive growth in forecast
period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rising number
passengers, increasing airline fleets, improved living standards, rising disposable income and significant
investment by leading industry players considering potential growth opportunities in the region.
The key players in aviation fuel market are BP plc, Chevron Corp., Amyris Inc., LanzaTech Inc., Exxon Mobil Corp.,
Gazprom Neft LLC, Royal Dutch Shell plc, and Hindustan Petroleum Co., Ltd.
Browse Related Category Market Reports @
https://www.millioninsights.com/industry/energy