Global Road Transportation Fuel Market 2019-2023
About this market
The rising urbanization and industrialization are one of the key factors expected to trigger the road transportation fuel market growth during the forecast period. Urban growth and transportation are often related to each other as urban population growth increases demand for travel, while urban development encompasses the development of transportation infrastructure. Furthermore, population and economic growth are major drivers impacting the road freight activity, in turn, increasing the road transportation fuel market growth in the forthcoming years. Technavio’s analysts have predicted that the road transportation fuel market will register a CAGR of close to 2% by 2023.
Rising fuel supply
Increasing oil and gas exploration and production activities and rising refinery throughout will increase the supply of transportation fuels, thereby promoting the growth of the market in focus during the forecast period.
Fluctuations in global oil and gas prices
Fluctuations in crude oil prices affect the pricing of refinery products. This has a significant impact on the oil and gas downstream sector as well as investors. The supply and prices of road transportation fuels get impacted negatively, which pose a challenge to the market.
For the detailed list of factors that will drive and challenge the growth of the road transportation fuel market during 2019-2023, view our report.
The market appears to be highly fragmented with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Road Transportation Fuel Market 2019-2023
Technavio recognizes the following companies as the key players in the global road transportation fuel market: BP p.l.c., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell Plc, and Total.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the introduction of the intelligent transportation system and autonomous driving.”
According to the report, one of the major drivers for this market is the rising fuel supply.
Further, the report states that one of the major factors hindering the growth of this market is the rising demand for renewable energy sources.
BP p.l.c.Chevron CorporationExxon Mobil CorporationRoyal Dutch Shell PlcTotal
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