B5 Fuel Market Size, Share, Growth Analysis, By Application(Industries, Transportation, Chemicals, and others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG10G2017 | Region: Global | Published Date: July, 2024
Pages: 242 | Tables: 37 | Figures: 74

B5 Fuel Market Regional Insights

Globally, Asia Pacific is estimated to hold the highest global B5 Fuel market share in 2021. Main factors during this growth period are the presence of top market players,Increasing industrialisation,demand for clean energy,and others.

Above all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of B5 Fuel technology in the region of Asia Pacific and mainly in China and Japan. Penetration of automotive industries and vehicles in Asia Pacific has doubled in the last few years. In addition, various operators are investing heavily in order to provide it at an affordable price to the consumers, which is likely to boost the demand for B5 Fuel in the region.

B5 Fuel Market Report Snapshots

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B5 Fuel Market size was valued at USD 49.24 billion in 2022 and is poised to grow from USD 52.05 billion in 2023 to USD 81.10 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

Competition in the global B5 Fuel market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with B5 Fuel will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Chevron', 'ExxonMobil', 'Royal Dutch Shell', 'BP', 'Total S.A.', 'Sinopec', 'China National Petroleum Corporation (CNPC)', 'Petrobras', 'Valero Energy Corporation', 'Lukoil', 'Gazprom', 'Marathon Petroleum Corporation', 'Eni S.p.A.', 'Phillips 66', 'Indian Oil Corporation', 'Pemex', 'Caltex', 'Petronas', 'Reliance Industries Limited', 'Rosneft'

The B5 Fuel card is a type of key facilitator for operation in any compression ignition engine design to be operated on petroleum diesel.This can include light duty and heavy duty diesel cars and trucks, tractors, boards and electrical generators.Engines operating on beef 5 fuel have similar fuel consumption, horsepower and top to engines running on petroleum diesel.With the 5% biodiesel content, 1% to 2% less energy per gallon than petroleum diesel, and many B5 users report no noticeable difference in performance or fuel economy.This increasing use of B5 fuel will in various applications has led to the growth of the market.

There is a recent trend of using B5 fuel in light and heavy duty diesel cars, trucks, tractors, boats and generators as they are safe to use.They are approved by ASTM for safe operation in any compression ignition engine design to be operated on petroleum diesel.US has adopted renewable fuel standard which has allowed the distribution of B5 biodiesel in fuel station throughout the country.

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B5 Fuel Market Size, Share, Growth Analysis, By Application(Industries, Transportation, Chemicals, and others), By Region - Industry Forecast 2024-2031

B5 Fuel Market Regional Insights

B5 Fuel Market Report Snapshots

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