Global Fuel Consumption Market for Transportation Industry 2015-2019
About Fuel Consumption in Transportation Industry
Fuel expense is an ongoing expense that must be considered while purchasing a vehicle. It also has a significant impact on the environment, as GHGs, particularly carbon dioxide, are produced when the fuel is burned in an engine. Government programs and local resources largely influence the demand for vehicles and fuel use. Currently, the Transportation industry is using gasoline and its blends as the major source of fuel. However, various government programs aimed at reducing fuel consumption, incentivizing the alternative fuel vehicle manufacturers, and bio-fuels mandates are expected to provide necessary impetus for the market growth in the future.
TechNavio's analysts forecast the Global Fuel Consumption market for the Transportation industry to grow at a CAGR of 2.1 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Fuel Consumption market for the Transportation industry for the period 2015-2019. In terms of modes of transport, the market can be segmented into six: LDV, HDV, Air, Marine, Rail, and Others.
TechNavio's report, the Global Fuel Consumption Market for the Transportation Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the landscape of the Global Fuel Consumption market for the Transportation industry and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Fuel Consumption Market for Transportation Industry 2015-2019
TechNavio recognizes the following companies as the key players in the Global Fuel Consumption Market for Transportation Industry: BP plc, China National Petroleum Corp. (CNPC), Exxon Mobil Corp., Royal Dutch Shell plc and Total SA
Other Prominent Vendors in the market are: National Iranian Oil Company, Petroleos de Venezuela, Saudi Aramco and Sinopec
Commenting on the report, an analyst from TechNavio’s team said: “The increase in non-gasoline LDVs is a current trend witnessed in the market. Micro-hybrid vehicles and FFVs are the most significant non-gasoline vehicles that can control emission levels and sustainably advance the industry toward more fuel-efficient and competent vehicles in terms of emissions.”
According to the report, increase in oil and gas supply is one of the major drivers of this market. The increased demand for energy has led to a rise in oil and gas production worldwide, which is a step toward reducing the dependency on Middle Eastern countries for oil production.
Further, the report states that climate change is one the major challenges that the market faces. The increase in GHG emissions from vehicles has resulted in an increase in the carbon dioxide level in the atmosphere, leading to global climate change. This has forced countries to impose stringent emission policies that negatively affect the market growth.
BP, China National Petroleum Corporation, Exxon Mobil, Royal Dutch Shell, Total, National Iranian Oil Company, Petroleos de Venezuela, Sinopec Group, Saudi Aramco