Global Transportation Fuels Market to Reach $787.4 Billion by 2030
The global market for Transportation Fuels estimated at US$660.4 Billion in the year 2023, is expected to reach US$787.4 Billion by 2030, growing at a CAGR of 2.5% over the analysis period 2023-2030. Gasoline, one of the segments analyzed in the report, is expected to record a 2.4% CAGR and reach US$498.7 Billion by the end of the analysis period. Growth in the Diesel segment is estimated at 2.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $174.3 Billion, While China is Forecast to Grow at 4.5% CAGR
The Transportation Fuels market in the U.S. is estimated at US$174.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$164.5 Billion by the year 2030 trailing a CAGR of 4.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.4% and 1.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$112.1 Billion by the year 2030.
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