Aviation Gasoline (Avgas) Market
Growth Factors of Aviation Gasoline (Avgas) Market
The aviation gasoline (Avgas) market size was reached at a value of USD 2.00 billion in 2023, and the market is now projected to grow from USD 2.09 billion in 2024 to USD 3.21 billion by 2032, exhibiting a CAGR of 5.46% during the forecast period of 2023-2030.
Due to lack of industrial operations and a halt in commercial campaigns, implementation of government policies, investments in projects and other initiatives due to covid pandemic., which lead a decline in the aviation gasoline (Avgas) market growth. Lockdown enacted in numerous nations have hindered the manufacturing and caused transportation delays. In addition, worldwide restrictions have caused a halt in economic activities. Despite the challenges of covid pandemic, the aviation gasoline (Avgas) sector has proven to be robust. Although the construction of electric vehicle has been delayed due to shortage of manpower and procurement concerns of raw material.
Expanding use of small aircraft for various sports events to quicken market expansion. The growing demand for light aircraft for sightseeing, tourism, photography, and other uses is predicted to drive significant growth in the aviation fuel market. The sales of piston-based aircraft have expanded dramatically as a result of air rallies, aerobatics, air racing, ballooning, aeromodelling, sailplanes, gliders, and many other sporting activities. Growing private aircraft will drive market expansion.
Demand for air travel will increase, driving aviation gasoline (Avgas) market growth overall. More people are traveling for leisure, sightseeing, adventures, and cultural experiences as a result of factors including globalization and increased connectivity, which are fueling the growth of international tourism. The demand is further increased by the need for regular air travel for meetings, conferences, and logistics brought on by expanding commercial prospects and international trade. The demand for air travel is significantly influenced by the tourism sector. For meetings, negotiations, and project management, business travelers frequently need quick and convenient air travel, which supports the consistent need for commercial flights and aviation fuel.
Comprehensive Analysis of Aviation Gasoline (Avgas) Market
The aviation gasoline (Avgas) market and power and energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by end users. The types end user segmentation includes, Private, Commercial, and Military.
The North America region lead the aviation gasoline (Avgas) market by benefitting a market size of USD 1.19 billion in 2023 due to the nation's growing private aviation passenger base and People are increasingly choosing private and charter planes to shorten their travel distances.
The top players in the market play a crucial role in the power and energy industry assuring industrial prospectus growth and setting market standards. These players include, Repsol (Spain), Viva Energy Group (Algeria), ExxonMobil (U.S.), Shell (Netherlands), BP Plc (U.K.), Total (France), Vitol Group (U.K.), Phillips 66 (U.S.), Indian Oil Corporation Limited (India) and Hjelmco Oil AB (Sweden) these market players provide a level-playing competitive environment across the globe.
In July 2023, Directorate General of Civil Aviation (DGCA) examined and certified AV GAS 100 LL, which is manufactured at Indian Oil's flagship refinery in Vadodara, India. This aviation gasoline, which has a higher octane rating than imported types, says it meets product criteria with better performance quality standards.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.46% from 2024 to 2032
Unit Value (USD Billion) and Volume (Thousand Tons)
Segmentation By End User
- Private
- Commercial
- Military
By Region
- North America (By End-user and Country)
- U.S. (By End-user)
- Canada (By End-user)
- Europe (By End-user and Country)
- France (By End-user)
- Germany (By End-user)
- Russia (By End-user)
- Spain (By End-user)
- Kazakhstan (By End-user)
- Jersey (By End-user)
- Poland (By End-user)
- Switzerland (By End-user)
- Norway (By End-user)
- Czech Republic (By End-user)
- Austria (By End-user)
- Rest of Europe (By End-user)
- Asia Pacific (By End-user and Country)
- China (By End-user)
- Australia (By End-user)
- South East Asia (By End-user)
- Rest of Asia Pacific (By End-user)
- Latin America (By End-user and Country)
- Brazil (By End-user)
- Mexico (By End-user)
- Colombia (By End-user)
- Chile (By End-user)
- Argentina (By End-user)
- Cuba (By End-user)
- Ecuador (By End-user)
- Rest of Latin America (By End-user)
- Middle East & Africa (By End-user and Country)
- South Africa (By End-user)
- Kenya (By End-user)
- GCC (By End-user)
- Guinea (By End-user)
- Botswana (By End-user)
- Liberia (By End-user)
- Libya (By End-user)
- Rest of Middle East & Africa (By End-user)