According to the MarkNtel Advisors' research report, "Global Sustainable Aviation Fuel Market Analysis, 2021," the market is expected to grow at a CAGR of 35% during 2021-26. Increasing disposable income of middle-class families and the rising trend of e-commerce is likely to boost air traffic resulting in higher demand for aviation fuel. Hence, to achieve a sustainable environment, the primary preference would be an inclination towards the usage of sustainable aviation fuel.
The use of sustainable aviation fuel will significantly help to alleviate the environmental impacts due to the aviation industry.
Further, rising air passengers, the rapid expansion of the aviation industry, and the high fuel efficiency of sustainable jet fuel are the other crucial factors engendering the growth of the sustainable aviation fuel market.
Key questions answered in the study
Commercial Aviation Holds the Largest Market Share
Within the End-User segmentation, the sustainable aviation market classifies into Commercial Aviation, Military Aviation, Business & General Aviation, and Unmanned Aerial Vehicles. Out of these, the Commercial Aviation segment dominated the Global Sustainable Aviation Market in 2019.
It is due to an increase in the number of air passengers and the rise in developing a new commercial fleet. The initiatives taken by commercial airlines to bring down the level of carbon emissions across the globe are driving this segment's growth in the sustainable aviation fuel market.
"Global Sustainable Aviation Fuel Market Analysis, 2021" provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Sustainable Aviation Fuel providers across the globe.
Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-pacific market is likely to register the fastest growth in the Global Sustainable Aviation Fuel market during 2021-26. The Asia-Pacific countries like China and India are the largest consumer of oil across the globe. Therefore, the usage of sustainable aviation fuel is growing significantly in the region as a clean solution to control the emission of greenhouse gas.
Further, the rising air travel by middle-class families in emerging countries increases air traffic, thereby fueling the demand for sustainable aviation fuel in the region. Thus, this region is likely to contribute to the growth of the global Sustainable Aviation Fuel market in the forecast period, says MarkNtel Advisors' research report "Global Sustainable Aviation Fuel Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the global Sustainable Aviation Fuel market are SG Preston Company, Gevo Inc., Neste Oyj, SKYNRG, Avfuel Corporation, Velocys, Fulcrum Bioenergy, SG Preston Company, Aemetis, Inc, Eni SPA, ZeroAvia, Inc., Aemetis, Inc., Red Rock Biofuels, Ballard Power Systems, Sundrop Fuels Inc.