Additionally, falling travel costs have been adding to … MARKET OPPORTUNITIES AND FUTURE TRENDS, Nanakramguda Rd, Financial District, Gachibowli. This is a site license, allowing all users within a given geographical location of your organization access to the product. Therefore, factors, such as positive trend in the air passenger traffic and number of departures, are expected to boost the demand for jet fuel in the commercial application over the forecast period. sumers, higher costs for fuel to airlines and reduced industry profitability. India is expected to take 3rd place after the United States, surpassing the UK around 2024. Technavio has been monitoring the jet fuel market and it is poised to grow by USD 60.23 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast period. As was highlighted above, major US-based airlines have already announced service changes over the next several months that are set to significantly impact their consumption of jet fuel. Please select an option from the list below. Therefore, aircraft are being flown more intensively to meet the increasing demand. Global Bio Jet Fuel Market Research Report 2020 begins with an overview of the Market and offers throughout development.It presents a comprehensive analysis of all the regional and major player segments that gives closer insights upon present market conditions and future market opportunities along with drivers, trending segments, consumer behaviour, pricing factors and market … HVAC (Heating, Ventilation, & Air Conditioning), Global Aviation Fuel Market Share, Size, Analysis - Segmented by Fuel Type, End-User Application, and Geography - Growth, Trends, and Forecast (2018 - 2023), Sustainable Aviation Fuel Market by Fuel Type (Biofuel, Hydrogen Fuel, Power to Liquid Fuel), Biofuel Manufacturing Technology, Biofuel Blending Capacity, Platform, Region - Forecast to 2030, Military Jet Fuel Market - Growth, Trends, and Forecasts (2020 - 2025), Global Jet Fuel Additives Market 2020-2024, Jet Fuel Additives - Global Market Trajectory & Analytics. Jet Fuel: Due to the sharp reduction in air travel, kerosene/jet fuel demand represented more than a third of the overall demand decline in 2020, falling by 3.1 million b/d. Note: Product cover images may vary from those shown. In 2018, the total capacity offered by the world’s airlines, expressed in available seat-kilometers (ASKs), increased globally by around 6.0% over the previous year. Therefore, factors, such as positive trend in the air passenger traffic and number of departures, are expected to boost the demand for jet fuel in the commercial application over the forecast period. With that, 2019 jet fuel demand would equate to approximately 7.97 MMb/d based on the EIA’s forecast of 100.75 MMb/d of global liquid fuels consumption in 2019. The Jet Fuel Market is segmented by Fuel Type (Jet A and Jet A-1, and Jet B), Application (Commercial, Defense, and General Aviation), and Geography (North America (United States, Canada, and Rest of North America), Europe (Germany, United Kingdom, France, Spain, Denmark, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), and Middle-East and Africa (Saudi Arabia, South Africa, and Rest of Middle-East and Africa)). In 2018, around 4.3 billion passengers were carried by air transport on scheduled services, representing an increase of 6.9% over the previous year. Jet fuel will remain the laggard going forward, keeping distillate supply more in surplus through the first half and refineries operating more in gasoline-production mode. On a global level, the number of trips per person is expected to increase by 4-8% per year for many emerging countries but could be as high as 10-11% per year in the case of China and India. Indonesia is expected to be a standout performer—climbing from the world’s 10th largest aviation market in 2017 to the 4th largest by 2030. Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. The EIA estimates global oil and liquid fuels demand was 92.2 million barrels per day (b/d) in 2020. As with each new year, 2020 will bring new challenges and trends to the travel industry. The re-balancing of the country’s economy toward consumption is expected to support strong passenger demand over the long term. A drop-off in air travel demand means that after falling 3 million barrels during 2020, the IEA expects demand for jet fuel and kerosene to only recover by 1 … We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. On a global level, the number of trips per person is expected to increase by 4-8% per year for many emerging countries but could be as high as 10-11% per year in the case of China and India. In 2018, the total capacity offered by the world’s airlines, expressed in available seat-kilometers (ASKs), increased globally by around 6.0% over the previous year. Factors, such as increasing air passenger traffic, increasing number of low-cost carriers (LCC) across the world, and increasing demand for air cargo transportation, are expected to drive the jet fuel market in the coming years. In terms of the domestic market, Asia-Pacific, one of the world’s largest domestic market with 42% of traffic share in 2018, continued to grow double-digitally at 10.4%, contributed by the strong demand in India and China, owing to their increasing GDP per capita and growing domestic air connectivity. The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 – 2025. Still haven't found what you're looking for? This is an enterprise license, allowing all employees within your organization access to the product. Jet fuel price developments - impact of Euro/US$ exchange rate movements. Increasing concerns over emissions from the airline industry and initiatives by the governments in developed economies to reduce airline emissions are expected to provide significant opportunities for renewable jet fuel in the future. Report scope can be customized per your requirements. The market for renewable aviation fuel (RAF) is expected to witness a CAGR of more than 56.05% during the forecast period (2020-2025). The increase in air travel demand outstripped the industry capacity expansion. This product is a market research report. Over half of the world’s 1.4 billion tourists who traveled across international borders in 2018 were transported by air. PR Team Zeal Insider January 14, 2021 29 Global aviation fuel market was valued at US$178.560 billion in 2019 and is expected to grow at a CAGR of 6.00% over the forecast period to reach … Commercial application accounts for the largest share in the jet fuel market, owing to the increasing number of air passengers and aircraft fleet across the world. Click here. Asia-Pacific dominated the market across the world as the region witnessed increasing passenger traffic, especially from the emerging economies. U.S. diesel fuel prices averaged $2.68/gal in January compared with $2.58/gal in December and $3.05/gal in January 2020, and EIA forecasts it will average $2.70/gal in 2021 and $2.77/gal in 2022. The jet fuel market is consolidated. We’ve rounded up our top travel projections that we're sure to see in the new year - from diversified fares to stable jet fuel prices. © 2020. Routes to, from, and within Asia-Pacific are expected to witness an extra 2.35 billion annual passengers by 2037, for a total market size of 3.9 billion passengers. Routes to, from, and within Asia-Pacific are expected to witness an extra 2.35 billion annual passengers by 2037, for a total market size of 3.9 billion passengers. Asia-Pacific dominated the market across the world as the region witnessed increasing passenger traffic, especially from the emerging economies. Government policies have … HAVE A QUESTION? Remember: New IMO 2020 specifications will require a 0.50% global sulfur cap for marine fuels. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the jet fuel market and it is poised to grow by USD 60.23 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast … All Rights Reserved. The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 – 2025. Therefore, with the increasing air passenger and air freight traffic in the region especially from the emerging economies, such as India, Indonesia, and Thailand, the jet fuel market in Asia-Pacific is expected to witness huge growth over the forecast period. Mariana will help you find what you are looking for. This is a single user license, allowing one specific user access to the product. The market estimate (ME) sheet in Excel format. Research and Markets partners with charity: water. The … The Renewable/Bio Jet Fuel industry 2020 research report has described Forecasted Compound Annual growth Rate (CAGR) in terms of % value for specified period, it will clearly help user to take their decision depending on the futuristic chart including key players in Renewable/Bio Jet Fuel market. Global Jet Fuel Sales Market (2020-2026) | Latest COVID19 Impact Analysis | Know About Brand Players: Air BP, Chevron, Exide, Exxon Mobil, Gazprom, Shell, etc. The low-cost carriers (LCCs) consistently grew at a faster pace than the world average growth, and it's market share continued to increase, both in advanced and emerging economies. Rystad expected jet fuel demand to fall at least 1.9 million bpd in 2020, and JBC Energy consultancy estimated jet fuel demand over the next few months would fall to … Additionally, falling travel costs have been adding to the airline market growth over the past several years. The product is a PDF. Dublin, March 09, 2020 -- The "Renewable Aviation Fuel Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's. Each license type allows a set number of users to access the report. Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. The Paris-based IEA slashed its 2020 outlook by 140,000 bpd to 91.9 million bpd, its first downgrade in several months. " Global oil demand will recover more slowly than expected next year, even with the rollout of a COVID-19 vaccine after "unprecedented and historic turbulence" in … Increasing concerns over emissions from the airline industry and initiatives by the governments in developed economies to reduce airline emissions are expected to provide significant opportunities for renewable jet fuel in the future. That means ships will have to use marine fuels with a sulfur content of no more than 0.50%, which compares to the prior limit of 3.50%. To understand geography trends, Download Sample Report. Commercial application accounts for the largest share in the jet fuel market, owing to the increasing number of air passengers and aircraft fleet across the world. Therefore, aircraft are being flown more intensively to meet the increasing demand. Goldman Sachs expects jet fuel demand to recover in 2021 alongside the potential availability of a COVID-19 vaccine in the second quarter. The increase in air travel demand outstripped the industry capacity expansion. The re-balancing of the country’s economy toward consumption is expected to support strong passenger demand over the long term. decline since the COVID-19 outbreak began affecting oil consumption in January 2020. The commercial segment accounts for the largest share in the jet fuel market. The low-cost carriers (LCCs) consistently grew at a faster pace than the world average growth, and it's market share continued to increase, both in advanced and emerging economies. In 2018, the LCCs carried an estimated 1.3 billion passengers and accounted for approximately 31% of the world total scheduled passengers. Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. Last year, jet demand averaged 7.9 million b/d, around 8% of total oil consumption. However, increasing penetration of sustainable aviation fuels (SAF), strict emission regulations and a positive trend in the piston engine aircraft deliveries is expected to increase the demand for aviation gasoline (AVGAS) are expected to have a slight impact on the jet fuel market in the coming years. This jet fuel price index provides the latest price data from Platts. This website uses cookies to ensure you get the best experience. Additionally, falling travel costs have been adding to … IHS Markit forecast modeling for jet fuel consumption through 2021 points to jet fuel usage rates, relative to 2019 levels, to be slower into 2020’s fourth quarter. Overview and forecasts on trending topics ... 1.45 U.S. dollars and reaching 1.43 U.S dollars per gallon in 2020. The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 - 2025. However, there is considerable uncertainty as to the magnitude, timing, and natureof these programs that ultimately determines the impact on the future growth of the U.S. economy. The product is a PDF. Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. 2020 Forecast: 5 Projections For The New Year 1. India is expected to take 3rd place after the United States, surpassing the UK around 2024. for the forecast year up to 2029. Copyright © 2002-2021 Research and Markets. Latest Market Analysis Research Report on “Global Jet Fuel Oil Market 2020” has been added to Wise Guy Reports database. 1  2. Renewable/Bio Jet Fuel Market Report, History And Forecast 2020-2027, Breakdown Data By Manufacturers, Key Regions, Types And Application nirav January 19, 2021 13 However, increasing penetration of sustainable aviation fuels (SAF), strict emission regulations and a positive trend in the piston engine aircraft deliveries is expected to increase the demand for aviation gasoline (AVGAS) are expected to have a slight impact on the jet fuel market in the coming years. Indonesia is expected to be a standout performer-climbing from the world’s 10th largest aviation market in 2017 to the 4th largest by 2030. The bottom line could mean great consumption of diesel fuel, which could impact production yields for jet fuel. Jet fuel demand remains the major source of weakness," the IEA said in its monthly report. EIA forecasts gasoline prices to average $2.44/gal in 2021 and $2.46/gal in 2022. Global Jet Fuel Oil Market is estimated to be valued US$ XX.X million in 2019. EIA forecasts that global consumption of petroleum and liquid fuels will average 97.5 million b/d for all of 2021, which is up by 5.3 million b/d from 2020. This is a 1-5 user license, allowing up to five users have access to the product. Over half of the world’s 1.4 billion tourists who traveled across international borders in 2018 were transported by air. The number of departures rose to approximately 38 million globally, and world passenger traffic, expressed in terms of total scheduled revenue passenger-kilometers (RPKs), grew solidly at 6.7% and reached approximately 8.2 trillion RPKs performed in 2018. China is expected to surpass the United States as the world’s largest aviation market (defined as traffic to, from, and within the country) in the mid-2020s. In 2018, the LCCs carried an estimated 1.3 billion passengers and accounted for approximately 31% of the world total scheduled passengers. Speak to our Custom Research Team, Jet Fuel Market - Growth, Trends, and Forecast (2020 - 2025). China is expected to surpass the United States as the world’s largest aviation market (defined as traffic to, from, and within the country) in the mid-2020s. The index and price data shows the global average price paid at the refinery for aviation jet fuel on the reported date. The report on Jet Fuel Oil Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. 4.2 Market Size and Demand Forecast in USD billion, till 2025, 4.7.4 Threat of Substitutes Products and Services, 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements, 6.2 Strategies Adopted by Leading Players, 7. In January 2020, New York Harbor jet fuel’s swap price is expected at $1.86 a gallon, compared with $1.84 this month, according to data from Argus Media. Even then the highest number on a monthly basis is just over 1.72 million b/d for U.S. consumption. That's down by 9 million b/d from 2019. Therefore, with the increasing air passenger and air freight traffic in the region especially from the emerging economies, such as India, Indonesia, and Thailand, the jet fuel market in Asia-Pacific is expected to witness huge growth over the forecast period. The baseline forecast incorporates additional infrastructure spending in 2020 and beyond. Jet Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021... Aviation Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Renewable Aviation Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026). Low Airfare Prices To understand key trends, Download Sample Report. The product is a PDF. Methodology for Platts Jet Fuel price index. They don’t match any of the 2019 robust levels until July 2021. It expects demand to increase by 5.4 million b/d in 2021 and 3.35 million b/d in 2022. All Rights Reserved to Mordor Intelligence. Some of the major companies include BP PLC, Exxon Mobil Corporation, Royal Dutch Shell PLC, and Total SA. The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 - 2025. Additionally, falling travel costs have been adding to the airline market growth over the past several years. Factors, such as increasing air passenger traffic, increasing number of low-cost carriers (LCC) across the world, and increasing demand for air cargo transportation, are expected to drive the jet fuel market in the coming years. With "few signs that the picture will improve significantly soon," the IEA expects jet fuel/kerosene demand to average 4.8 million b/d and 5.8 million b/d in 2020 and 2021 respectively. Platts Jet Fuel Price Index is published by S&P Global Platts, reflecting its daily assessments of physical spot market Jet Fuel spot prices in the relevant regional centers. The product is a PDF. Jet fuel price developments - longer term perspective.