Overview and Scope
Sustainable aviation fuel (SAF) refers to a type of fuel that is produced from renewable and sustainable feedstocks, such as waste oils, agricultural residues, and non-food crops. SAF aims to reduce the carbon footprint of aviation by offering a more environmentally friendly alternative. It can be blended with conventional jet fuel and used in existing aircraft without requiring any modifications, making it a promising solution for reducing greenhouse gas emissions in the aviation industry.
Sizing and Forecast
The sustainable aviation fuel (SAF) market size has grown exponentially in recent years. It will grow from $0.52 billion in 2023 to $0.79 billion in 2024 at a compound annual growth rate (CAGR) of 53.8%. The growth in the historic period can be attributed to rise in concerns regarding climate change propelling demand for sustainable aviation fuel, increasing need for reduction in ghg emissions, growing focus on reducing carbon emissions, growing global initiatives to reduce carbon emissions.
The sustainable aviation fuel (SAF) market size is expected to see exponential growth in the next few years. It will grow to $3.92 billion in 2028 at a compound annual growth rate (CAGR) of 49.1%. The growth in the forecast period can be attributed to increase in deployment of sustainable aviation fuel, rising demand for SAF by airlines across the globe, growing initiatives to increase supply chain process to foster market growth, presence of stringent environmental regulations. Major trends in the forecast period include technological advancements with stringent government laws, advancements in saf production technologies and feedstock diversification, technological advancements, collaborative initiatives, carbon offsetting schemes.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/sustainable-aviation-fuel-global-market-report
Segmentation & Regional Insights
The sustainable aviation fuel market covered in this report is segmented –
1) By Fuel Type: Biofuel, Power-to-Liquid, Gas-to-Liquid
2) By Blending Capacity: Below 30%, 30% To 50%, Above 50%
3) By Platform: Commercial Aviation, Military Aviation, Business And General Aviation, Unmanned Aerial Vehicles
North America was the largest region in the sustainable aviation fuel market in 2023. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the sustainable aviation fuel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=14514&type=smp
Major Driver Impacting Market Growth
The surge in the adoption of biofuels is expected to propel the growth of the sustainable aviation fuel market going forward. Biofuels refer to renewable energy sources derived from plant, algal, or animal biomass. This adoption is driven by a global push for sustainable practices and the aviation industry’s commitment to reducing greenhouse gas emissions. With the use of biofuels in aviation, airlines can reduce their carbon footprint and environmental impact. For instance, in December 2023, according to the Eurostat, a Luxembourg-based organization, in 2022, renewable energy comprised 23.0% of the total energy consumption within the European Union (EU), marking an increase from a share of 21.9% recorded during the previous year, 2021. And the share of renewable energy utilized in transport increased to 9.6% in 2022, up from 9.1% in 2021. Therefore, the surge in the adoption of biofuels is driving the growth of the sustainable aviation fuel market.
Key Industry Players
Major companies operating in the sustainable aviation fuel market are Shell plc, TotalEnergies SE, BP plc, Eni S.p.A., OMV Group, Neste Oyj, Preem AB, Sustainable Aviation, Aemetis Inc., REG Synthetic Fuels LLC, Ballard Power Systems, ZeroAvia Inc., AvFuel Corporation, LanzaTech Inc., Sundrop Fuels Inc., LanzaJet Inc., Fulcrum BioEnergy Inc., SkyNRG BV, Alder Fuels, Red Rock Biofuels, SG Preston Company, Velocys Plc, WasteFuel, World Energy, SAF+ International Group, Gevo Inc., Northwest Advanced Bio-Fuels LLC., AltAir Fuels, REG Geismar LLC
The sustainable aviation fuel market report table of contents includes:
1. Executive Summary
2. Sustainable Aviation Fuel Market Characteristics
3. Sustainable Aviation Fuel Market Trends And Strategies
4. Sustainable Aviation Fuel Market – Macro Economic Scenario
5. Global Sustainable Aviation Fuel Market Size and Growth
.
.
.
32. Global Sustainable Aviation Fuel Market Competitive Benchmarking
33. Global Sustainable Aviation Fuel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sustainable Aviation Fuel Market
35. Sustainable Aviation Fuel Market Future Outlook and Potential Analysis
36. Appendix
Explore the trending research reports from TBRC:
https://www.thebusinessresearchcompany.com/report/fuel-oil-global-market-report
https://www.thebusinessresearchcompany.com/report/fossil-fuel-electricity-global-market-report
https://www.thebusinessresearchcompany.com/report/aviation-fuel-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
