Emphasis on Fuel Type (Ammonia, Synfuel, Methanol, and Others); Renewable Source (Solar PV, Wind, and Hybrid); Region/Country.
The E-Fuel Market is expected to grow at a strong CAGR of 57.1% during the forecast period 2023-2030. E-fuels, also known as electrofuels, are synthetic fuels produced from renewable energy sources, such as solar or wind power, using a process called power-to-liquid (PtL). They can be in the form of gas or liquid and include e-Synfuel, e-kerosene, and e-methanol. E-fuels are considered a carbon-neutral alternative to traditional fossil fuels because the carbon dioxide emitted during their combustion is balanced by the carbon captured during their production. They can be used in existing internal combustion engines without the need for modifications, making them a potential substitute for petrol or diesel in the transportation sector. They can be blended with conventional fuels in any ratio and can be used climate-neutrally worldwide.
The global E-fuel market is driven by several key factors, including the Rising Demand for Sustainable Transportation, Technological Advancements Increased Investments in clean energy, and Energy Security Considerations. There is an increased focus on sustainable transportation, and e-fuels are seen as a way to decarbonize hard-to-electrify sectors such as transportation and aviation. The market is still in its early stages and only a few plants have been set up which produce e-fuel in small quantities. However, the rapid investments by various companies and government organizations have given a substantial boost to the niche market making it one of the fastest-growing sustainable energy markets during the forecast period.
Some of the major players operating in the market are Norsk E-Fuel, Sunfire GmbH, Siemens Energy, Advanced Chemical Technologies¸ BASF SE¸ Carbon Recycling International, Enerkem, Fraunhofer, OCI N.V., and Uniper SE. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Fuel Type, the E-Ammonia category to grow with significant CAGR during the forecast period”
Based on Fuel Type, the E-Fuel Market is divided into Ammonia, Synfuel, methanol and Others. The Synfuel segment acquired a majority share in the E-Fuel Market and is expected to showcase a substantial growth rate during the forecast period. The majority growth rate of E-fuel projects is for ammonia as the main driver for the production of hydrogen-based products using electrolytic hydrogen is coming from ammonia’s industrial applications instead of its potential use as a fuel. The fertilizer industry is one of the biggest applications where this ammonia is utilized. Around one-quarter of the capacity of projects aiming to produce e-ammonia specifically target its use in the fertilizer industry.
“Amongst Renewable Source, the Solar PV category to grow with significant CAGR during the forecast period”
Based on Renewable Sources, the E-Fuel Market is divided into Solar PV, Wind, and Hybrid. The Hybrid segment acquired a majority share in the E-Fuel Market and is expected to showcase a substantial growth rate during the forecast period. Solar PV dominated the growth in the E-fuel sector as it can be deployed in more areas as compared to wind power and is one of the most cost-effective ways to make renewable energy. Governments worldwide have introduced various policies and initiatives to promote solar energy in their region. According to IEA, Solar PV’s installed power capacity is poised to surpass that of coal by 2027, becoming the largest in the world. Despite current higher investment costs due to elevated commodity prices, utility-scale solar PV is the least costly option for new electricity generation in a significant majority of countries worldwide.
E-Fuel Market Report Coverage
“Europe to grow with high CAGR during forthcoming years”
Europe acquired the majority market share in the E-Fuel Market and is expected to witness an influential CAGR in the forecasted period. The growth is due to the increasing funds in clean energy, the promotion of E-fuel and upcoming plants in Russia, Germany, Spain, Sweden, Norway, Finland, Denmark, Iceland, Austria and Switzerland. Germany Acquired a significant share in the E-fuel market on account of various E-fuel plants as well as huge investments in the renewable energy sector. The region is also the headquarters of various E-fuel companies such as Norsk E-Fuel. Norsk E-Fuel is one of the biggest E-fuel manufacturers in the world and aims to produce 250 million litres of E-fuel operational by 2030. Their target base is the aviation industry and the company is situated in Norway. The company is planning to build Alpha Plant in Mosjøen/Nesbruket, Vefsn Municipality, Norway with a production capacity of 50 million litres a year which is said to start complete production by 2026 and would be one of the biggest plants in the region.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Key Insights
4. Executive Summary
5. Global E-fuel Market Revenue, 2020-2030f
6. Market Insights By Fuel Type
7. Market Insights By Renewable Source
8. Market Insights By Region
9. E-fuel Market Dynamics
10. E-fuel Market Opportunities
11. E-fuel Market Trends
12. Demand And Supply-side Analysis
13. Value Chain Analysis
14. Government Policies And Regulations
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the E-Fuel Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global E-Fuel market were the three major steps undertaken to create and analyze the adoption of E-Fuel in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global E-Fuel market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the E-Fuel market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the E-Fuel market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as Fuel Type, and Renewable Source. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the E-Fuel market. Further, we conducted factor analysis using dependent and independent variables such as Fuel Type, and Renewable Source of the E-Fuel market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the E-Fuel market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global E-Fuel market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global E-Fuel market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the Fuel Type, and Renewable Source in the global E-Fuel market.
The main objective of the Global E-Fuel Market Study
The current & future market trends of the global E-Fuel market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the global E-Fuel market?
Q2: What are the driving factors for the growth of the global E-Fuel Market?
Q3: Which segment has the largest share of the global E-Fuel market by Fuel Stock?
Q4: What are the emerging technologies and trends in the global E-Fuel market?
Q5: Which region will dominate the global E-Fuel market?
Q6: Who are the key players operating in the global E-Fuel market?
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