E-Fuel Market Trends and Forecast
The future of the global e-fuel market looks promising with opportunities in the transportation, chemical, and power generation markets. The global e-fuel market is expected to reach an estimated $30.6 billion by 2030 with a CAGR of 26.8% from 2024 to 2030. The major drivers for this market are rising demand for sustainable & renewable energy sources, increasing environmental regulations & carbon reduction targets, and growing preference toward renewable fuels.
• Lucintel forecasts that liquid is expected to witness higher growth over the forecast period.
• Within this market, transportation is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the E-Fuel Market
• Germany: Audi announced a partnership with Sunfire to produce e-diesel using renewable energy, aiming to achieve carbon-neutral fuel production by 2030, supported by government incentives for clean energy projects.
• United States: The U.S. Department of Energy funded a new initiative to develop scalable e-fuel production technologies, targeting a 50% reduction in greenhouse gas emissions by 2035, with collaborations from several leading energy companies.
• Norway: Norsk e-Fuel commenced construction of the world’s first commercial plant for e-kerosene, supported by government grants, with a goal to supply sustainable aviation fuel by 2024, contributing to NorwayÄX%$%Xs carbon neutrality targets.
• Japan: Kawasaki Heavy Industries initiated a pilot project to produce e-fuels using hydrogen from renewable sources, aligning with Japan’s target to become carbon neutral by 2050, backed by substantial government funding.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
E-Fuel Market by Segment
The study includes a forecast for the global e-fuel market by state, fuel type, end use, renewable source, and region.
E-Fuel Market by State [Value from 2018 to 2030]:
• Gas
• Liquid
• Others
E-Fuel Market by Fuel Type [Value from 2018 to 2030]:
• E-Methane
• E-Kerosene
• E-Methanol
• E-Ammonia
• E-Diesel
• E-Gasoline
E-Fuel Market by End Use [Value from 2018 to 2030]:
• Transportation
• Chemicals
• Power Generation
• Others
E-Fuel Market by Renewable Source [Value from 2018 to 2030]:
• Solar
• Winds
• Others
E-Fuel Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of E-Fuel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies e-fuel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the e-fuel companies profiled in this report include-
• Saudi Arabian Oil
• Audi
• Siemens Energy
• Sunfire
• Mitsubishi Corporation
• Repsol
• Porsche
• Uniper
• Orsted
• MAN Energy Solutions
Recent Development in the E-Fuel Market
• Siemens Energy: Collaborated with Porsche and several other companies to build an industrial-scale plant in Chile for producing e-methanol and e-gasoline. The project, supported by the German government, targets production of 130,000 liters of e-fuel by 2022 and scaling up to 550 million liters by 2026.
• ExxonMobil: Invested in a new e-fuel production facility in Texas, leveraging advanced electrolysis technology to produce hydrogen-based synthetic fuels. This aligns with ExxonMobil’s strategy to reduce its carbon footprint and support global decarbonization efforts.
• TotalEnergies: Announced a partnership with Air France-KLM to develop and supply e-fuels for aviation. This initiative is part of TotalEnergies’ broader commitment to invest in renewable energy and reduce the carbon intensity of its products by 60% by 2050.
• Shell: Expanded its investment in e-fuel technology through a joint venture with ITM Power to build Europe’s largest hydrogen electrolysis plant in Germany. This facility will produce green hydrogen for use in e-fuel production, supporting Shell’s ambition to become a net-zero emissions energy business by 2050.
Features of the Global E-Fuel Market
Market Size Estimates: E-fuel market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: E-fuel market size by various segments, such as by state, fuel type, end use, renewable source, and region in terms of value ($B).
Regional Analysis: E-fuel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different states, fuel types, end uses, renewable sources, and regions for the e-fuel market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the e-fuel market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the e-fuel market size?
Answer: The global e-fuel market is expected to reach an estimated $30.6 billion by 2030.
Q2. What is the growth forecast for e-fuel market?
Answer: The global e-fuel market is expected to grow with a CAGR of 26.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the e-fuel market?
Answer: The major drivers for this market are rising demand for sustainable & renewable energy sources, increasing environmental regulations & carbon reduction targets, and growing preference toward renewable fuels.
Q4. What are the major segments for e-fuel market?
Answer: The future of the e-fuel market looks promising with opportunities in the transportation, chemical, and power generation markets.
Q5. Who are the key e-fuel market companies?
Answer: Some of the key e-fuel companies are as follows:
• Saudi Arabian Oil
• Audi
• Siemens Energy
• Sunfire
• Mitsubishi Corporation
• Repsol
• Porsche
• Uniper
• Orsted
• MAN Energy Solutions
Q6. Which e-fuel market segment will be the largest in future?
Answer: Lucintel forecasts that liquid is expected to witness higher growth over the forecast period.
Q7. In e-fuel market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the e-fuel market by state (gas, liquid, and others), fuel type (e-methane, e-kerosene, e-methanol, e-ammonia, e-diesel, and e-gasoline), end use (transportation, chemicals, power generation, and others), renewable source (solar, winds, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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