South America Aviation Fuel Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The South American aviation fuel market is expected to value at USD 17.71 billion in 2027, up from USD 5.20 billion in 2020, registering a CAGR of 18.57% during the forecast period of 2022-2027. The COVID-19 pandemic has negatively impacted the South American aviation fuel market, leading to lockdowns globally (including South America) combined with restricted national and international travel, severely hitting the aviation industry in 2020. However, the market has shown signs of recovery. It is expected to revive pre-COVID-19 levels by the end of 2022, with the widespread availability of a vaccine. The recovering number of air passengers, on account of the cheaper airfare in recent times, stronger economic conditions, and increasing disposable income are among the major driving factors for the market. Moreover, the market can face hurdles in the coming years due to the high share of fossil-fuel-based aviation fuels in South American countries, which are responsible for the degradation of the environment.
Key HighlightsThe South American aviation fuel market is moderately fragmented. Some of the major companies include Petroleo Brasileiro SA, BP PLC, Shell PLC, TotalEnergies SE, and Repsol SA.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook