Market Size of Asia-Pacific Aviation Fuel Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > 10.00 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
APAC Aviation Fuel Market Analysis
The Asia-Pacific aviation fuel market is expected to grow at a CAGR of more than 10% over the forecast period of 2020-2025. The growth in the Asia-Pacific aviation fuel market is mainly driven by the increasing number of flights, and the increasing number of air passengers, on account of the cheaper airfare in recent times, stronger economic conditions, and increasing disposable income. However, the effect of COVID-19 pandemic, concerns related to carbon emissions, and volatile crude oil prices are expected to restrain the growth of the Asia-Pacific aviation fuel market.
- The commercial aircraft segment is expected to dominate the Asia-Pacific aviation fuel market during the forecast period.
- As the aviation industry is planning to shift to a renewable source of fuel to power its engine, biofuel has a huge opportunity in helping the aviation industry to meet the carbon emission reduction target, which in turn likely to provide an opportunity to the players involved in the market in the near future.
- China is expected to dominate in the Asia-Pacific aviation fuel market over the forecast period.
APAC Aviation Fuel Industry Segmentation
The Asia-Pacific aviation fuel market report includes:
Fuel Type | |
Air Turbine Fuel (ATF) | |
Aviation Biofuel | |
Others |
Application | |
Commercial Aircraft | |
Military Aircraft | |
General Aviation |
Geography | |
China | |
Japan | |
India | |
Indonesia | |
Australia | |
Rest of Asia-Pacific |
Asia-Pacific Aviation Fuel Market Size Summary
The Asia-Pacific aviation fuel market is poised for significant growth, driven by an increase in flight numbers and air passenger traffic, attributed to affordable airfares, robust economic conditions, and rising disposable incomes. Despite challenges such as the COVID-19 pandemic, concerns over carbon emissions, and fluctuating crude oil prices, the market is expected to expand. The commercial aircraft segment is anticipated to lead the market, with biofuels presenting a promising opportunity for the industry to meet carbon emission reduction targets. China is projected to be a dominant force in the region's aviation fuel market, supported by its substantial domestic passenger traffic and expanding air force fleet.
The commercial aviation sector, which includes both scheduled and non-scheduled flights, is a major consumer of aviation fuel, accounting for a significant portion of airline operating expenses. The Asia-Pacific region has been a leader in global air traffic, with short-haul routes in China and India contributing to increased demand for aviation fuel. The region is expected to continue its leadership in air traffic growth, with countries like China, India, Indonesia, and Vietnam experiencing substantial increases in passenger numbers. This growth in air travel, particularly domestic routes in China, is anticipated to drive demand for aviation fuel, supported by a fragmented market with key players such as Bharat Petroleum Corp Ltd, Chevron Corporation, Vitol Holding BV, Royal Dutch Shell Plc, and China Aviation Oil Corporation Ltd.
Asia-Pacific Aviation Fuel Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Forecast in USD, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Force Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Fuel Type
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2.1.1 Air Turbine Fuel (ATF)
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2.1.2 Aviation Biofuel
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2.1.3 Others
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2.2 Application
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2.2.1 Commercial Aircraft
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2.2.2 Military Aircraft
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2.2.3 General Aviation
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2.3 Geography
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2.3.1 China
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2.3.2 Japan
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2.3.3 India
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2.3.4 Indonesia
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2.3.5 Australia
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Aviation Fuel Market Size FAQs
What is the current Asia-Pacific Aviation Fuel Market size?
The Asia-Pacific Aviation Fuel Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Aviation Fuel Market?
Bharat Petroleum Corp Ltd , Chevron Corporation , Vitol Holding BV , Royal Dutch Shell Plc and China Aviation Oil Corporation Ltd are the major companies operating in the Asia-Pacific Aviation Fuel Market.