The global diesel fuel market has the potential to grow by USD 92.15 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by end-user (transportation, industrial, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp, Exxon Mobil Corp., PetroChina Co. Ltd., Qatar Petroleum, Reliance Industries Ltd., Rosneft Oil Co., Royal Dutch Shell Plc, Saudi Arabian Oil Co., and SK Energy Co. Ltd.
Market Overview
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Market Competitive Analysis
The diesel fuel market is currently fragmented, and the degree of fragmentation will remain the same during the forecast period. Established vendors are adopting inorganic growth strategies such as mergers and acquisitions and partnerships to expand their geographic outreach. BP Plc, Chevron Corp, Exxon Mobil Corp., and PetroChina Co. Ltd. are some of the major market participants. Although the increasing oil and gas E&P investments will offer immense business opportunities, the adoption of alternative fuel vehicles will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this diesel fuel market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this diesel fuel market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading diesel fuel companies, including:
- BP Plc
- Chevron Corp
- Exxon Mobil Corp.
- PetroChina Co. Ltd.
- Qatar Petroleum
- Reliance Industries Ltd.
- Rosneft Oil Co.
- Royal Dutch Shell Plc
- Saudi Arabian Oil Co.
- SK Energy Co. Ltd.
Diesel Fuel Market: Segmentation by Region
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APAC will offer several growth opportunities to market vendors during the forecast period. In APAC, the rising number of automobiles and growing energy demand in developing countries has increased the need for crude oil and refined products such as diesel fuel. As per the IEA, the demand for oil is rising in countries such as China and India.
About 44% of the market’s growth will originate from APAC during the forecast period. The region is witnessing a significant increase in the average consumer spending owing to stable economic development. This will subsequently drive the growth of industries such as automobile, thereby driving the consumption of diesel fuel in the region. China, India, Japan, and South Korea are the key markets for diesel fuel in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Diesel Fuel Market: Segmentation by End-user
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Diesel is primarily used in the primary modes of urban mobility and transportation such as public transportation, private transportation, and freight transportation. The number of vehicles on the road is expected to increase with the growing urban population. Hence, the increased deployment of vehicles due to the rise in urbanization and industrialization will augment the consumption of diesel fuel.
The market growth by the transportation segment will be faster than the growth of the market by other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the diesel fuel market size.
Diesel Fuel Market: Key Drivers and Trends
The growing population and industrial development have been increasing the demand for energy across the world. To meet the increasing demand, untapped oil and gas resources are being explored with advanced techniques. Furthermore, to maximize the revenue, oil and gas companies are increasingly investing in mature oil and gas fields. Oil and gas exploration and production (E&P) companies have increased their investments in shale oil and gas reserve E&P projects. Moreover, to enhance energy security, governments are taking initiatives to increase oil and gas production. These factors have increased the supply of crude oil, which is driving the global diesel fuel market growth.
- The adoption of hybrid power systems is one of the vital diesel fuel market trends.
- Hybrid power systems act as effective backup solutions, owing to their higher levels of efficiency, reliability, and long-term performance to public grids during blackouts.
- Major companies are adopting solar-diesel hybrid power systems for their power supplies.
- A significant part of the capital expenditure can be reduced by using hybrid power systems.
- A solar-diesel hybrid power system consists of a solar PV system, diesel generators, and intelligent energy management systems.
- During 2020-2024, the market will grow at a CAGR of over 1%.
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Diesel Fuel Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the growth of the diesel fuel market during the next five years
- Precise estimation of the global diesel fuel market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the diesel fuel industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of diesel fuel vendors
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