Jet Fuel Market Size - By Fuel Type, By Fuel Grade, By End User - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Jet Fuel Market Size - By Fuel Type, By Fuel Grade, By End User - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Global Jet Fuel Market Overview:

According to SPER Market Research, the Global Jet Fuel Market is estimated to reach USD 303.58 billion by 2032 with a CAGR of 4.92%.

The next sector sought for the world's economic development is the global aviation market. Aviation fuel is expected to play a significant part in the provision of the global fast transportation network required for international trade and tourism. Due to socioeconomic, tourism, political, and comprehensive commercial trading factors, the worldwide market for air travel is expected to increase quickly. In the aviation sector, where aviation fuel is a key component, bilateral growth between the nations is essential to creating a better world by raising the standard of living. The potential market for aviation fuel will be boosted by low crude oil prices, middle-class families' discretionary money, growing e-commerce, and increased international trade.

Impact of COVID-19 on the Global Jet Fuel Market

Global trade has been devastated by corona virus (COVID-19), which has also had disastrous consequences on households, businesses, financial institutions, industrial enterprises, and infrastructural firms. The market's development has been constrained by the new coronavirus, which has impacted various economies and triggered lockdown in numerous nations. In most nations throughout the world, the closure of industrial factories caused a reduction in demand for solar-related equipment, which in turn caused a decline in demand for the jet fuel industry. The decline in power usage in industrial facilities throughout the world during the epidemic has a detrimental effect on the market's growth.

Scope of the Report:

Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032

Segments covered By Fuel Type, By Fuel Grade, By End User

Regions covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Companies Covered Allied Aviation Services Inc., Amyris, Archer Daniels Midland Company, Bharat Petroleum Corp Ltd., British Petroleum PLC., Chevron Corporation, China Aviation Oil, Exxon Mobil Corporation, Gazprom Neft PJSC, Honeywell International Inc., Mercury Air Group, Primus Green Energy, Qatar Jet Fuel Company, Shell PLC, Solazyme, Total, TotalEnergies SE, Valero Marketing and Supply, Vitol, World Fuel Service.

Global Jet Fuel Market Segmentation:

By Fuel Type: Based on the Fuel Type, Global Jet Fuel Market is segmented as; Aviation Turbine Fuel, Avgas, Bio Jet Fuel.

By Fuel Grade: Based on the Fuel Grade, Global Jet Fuel Market is segmented as; Jet A, Jet A2, Jet B, TS-1.

By End User: Based on the End User, Global Jet Fuel Market is segmented as; Commercial, General Aviation, Military, Private.

By Region: The US, Canada, and Mexico are all included in the analysis of North America. The United States dominates the market share, followed by Canada and Mexico. The US dominates the sector since it is the basis for a large number of general aviation aircraft. In addition, the aviation fuel industry is heavily dependent on the defence industry. These efforts are anticipated to be the main drivers propelling the growth of the market in this region throughout the course of the forecast period, as the U.S. Air Force consumes several billion gallons of aviation fuel yearly.