EIA forecasts gasoline prices to average $2.44/gal in 2021 and $2.46/gal in 2022. Asia-Pacific dominated the market across the world as the region witnessed increasing passenger traffic, especially from the emerging economies. The increase in air travel demand outstripped the industry capacity expansion. However, increasing penetration of sustainable aviation fuels (SAF), strict emission regulations and a positive trend in the piston engine aircraft deliveries is expected to increase the demand for aviation gasoline (AVGAS) are expected to have a slight impact on the jet fuel market in the coming years. HAVE A QUESTION? Jet Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021... Aviation Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Renewable Aviation Fuel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026). Report scope can be customized per your requirements. This jet fuel price index provides the latest price data from Platts. Therefore, aircraft are being flown more intensively to meet the increasing demand. Therefore, aircraft are being flown more intensively to meet the increasing demand. The re-balancing of the country’s economy toward consumption is expected to support strong passenger demand over the long term. India is expected to take 3rd place after the United States, surpassing the UK around 2024. Still haven't found what you're looking for? This is a site license, allowing all users within a given geographical location of your organization access to the product. The re-balancing of the country’s economy toward consumption is expected to support strong passenger demand over the long term. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the jet fuel market and it is poised to grow by USD 60.23 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast … Over half of the world’s 1.4 billion tourists who traveled across international borders in 2018 were transported by air. That means ships will have to use marine fuels with a sulfur content of no more than 0.50%, which compares to the prior limit of 3.50%. A drop-off in air travel demand means that after falling 3 million barrels during 2020, the IEA expects demand for jet fuel and kerosene to only recover by 1 … Asia-Pacific dominated the market across the world as the region witnessed increasing passenger traffic, especially from the emerging economies. MARKET OPPORTUNITIES AND FUTURE TRENDS, Nanakramguda Rd, Financial District, Gachibowli. The Paris-based IEA slashed its 2020 outlook by 140,000 bpd to 91.9 million bpd, its first downgrade in several months. " Jet Fuel: Due to the sharp reduction in air travel, kerosene/jet fuel demand represented more than a third of the overall demand decline in 2020, falling by 3.1 million b/d. As was highlighted above, major US-based airlines have already announced service changes over the next several months that are set to significantly impact their consumption of jet fuel. However, increasing penetration of sustainable aviation fuels (SAF), strict emission regulations and a positive trend in the piston engine aircraft deliveries is expected to increase the demand for aviation gasoline (AVGAS) are expected to have a slight impact on the jet fuel market in the coming years. Routes to, from, and within Asia-Pacific are expected to witness an extra 2.35 billion annual passengers by 2037, for a total market size of 3.9 billion passengers. The index and price data shows the global average price paid at the refinery for aviation jet fuel on the reported date. The baseline forecast incorporates additional infrastructure spending in 2020 and beyond. However, there is considerable uncertainty as to the magnitude, timing, and natureof these programs that ultimately determines the impact on the future growth of the U.S. economy. Therefore, factors, such as positive trend in the air passenger traffic and number of departures, are expected to boost the demand for jet fuel in the commercial application over the forecast period. Click here. Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. Global Jet Fuel Oil Market is estimated to be valued US$ XX.X million in 2019. Indonesia is expected to be a standout performer—climbing from the world’s 10th largest aviation market in 2017 to the 4th largest by 2030. Each license type allows a set number of users to access the report. The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 - 2025. 4.2 Market Size and Demand Forecast in USD billion, till 2025, 4.7.4 Threat of Substitutes Products and Services, 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements, 6.2 Strategies Adopted by Leading Players, 7. Copyright © 2002-2021 Research and Markets. © 2020. With that, 2019 jet fuel demand would equate to approximately 7.97 MMb/d based on the EIA’s forecast of 100.75 MMb/d of global liquid fuels consumption in 2019. Last year, jet demand averaged 7.9 million b/d, around 8% of total oil consumption. We’ve rounded up our top travel projections that we're sure to see in the new year - from diversified fares to stable jet fuel prices. That's down by 9 million b/d from 2019. To understand geography trends, Download Sample Report. The product is a PDF. The EIA estimates global oil and liquid fuels demand was 92.2 million barrels per day (b/d) in 2020. sumers, higher costs for fuel to airlines and reduced industry profitability. Research and Markets partners with charity: water. The number of departures rose to approximately 38 million globally, and world passenger traffic, expressed in terms of total scheduled revenue passenger-kilometers (RPKs), grew solidly at 6.7% and reached approximately 8.2 trillion RPKs performed in 2018. This product is a market research report. Technavio has been monitoring the jet fuel market and it is poised to grow by USD 60.23 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Additionally, falling travel costs have been adding to … Methodology for Platts Jet Fuel price index. Additionally, falling travel costs have been adding to … Goldman Sachs expects jet fuel demand to recover in 2021 alongside the potential availability of a COVID-19 vaccine in the second quarter. Indonesia is expected to be a standout performer-climbing from the world’s 10th largest aviation market in 2017 to the 4th largest by 2030. Routes to, from, and within Asia-Pacific are expected to witness an extra 2.35 billion annual passengers by 2037, for a total market size of 3.9 billion passengers. EIA forecasts that global consumption of petroleum and liquid fuels will average 97.5 million b/d for all of 2021, which is up by 5.3 million b/d from 2020. It expects demand to increase by 5.4 million b/d in 2021 and 3.35 million b/d in 2022. With "few signs that the picture will improve significantly soon," the IEA expects jet fuel/kerosene demand to average 4.8 million b/d and 5.8 million b/d in 2020 and 2021 respectively. The Jet Fuel Market is segmented by Fuel Type (Jet A and Jet A-1, and Jet B), Application (Commercial, Defense, and General Aviation), and Geography (North America (United States, Canada, and Rest of North America), Europe (Germany, United Kingdom, France, Spain, Denmark, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), and Middle-East and Africa (Saudi Arabia, South Africa, and Rest of Middle-East and Africa)). Commercial application accounts for the largest share in the jet fuel market, owing to the increasing number of air passengers and aircraft fleet across the world. The low-cost carriers (LCCs) consistently grew at a faster pace than the world average growth, and it's market share continued to increase, both in advanced and emerging economies. Mariana will help you find what you are looking for. Government policies have … Jet fuel price developments - impact of Euro/US$ exchange rate movements. The market estimate (ME) sheet in Excel format. Overview and forecasts on trending topics ... 1.45 U.S. dollars and reaching 1.43 U.S dollars per gallon in 2020. Please select an option from the list below. To understand key trends, Download Sample Report. This is a 1-5 user license, allowing up to five users have access to the product. As with each new year, 2020 will bring new challenges and trends to the travel industry. Factors, such as increasing air passenger traffic, increasing number of low-cost carriers (LCC) across the world, and increasing demand for air cargo transportation, are expected to drive the jet fuel market in the coming years. for the forecast year up to 2029. Global Jet Fuel Sales Market (2020-2026) | Latest COVID19 Impact Analysis | Know About Brand Players: Air BP, Chevron, Exide, Exxon Mobil, Gazprom, Shell, etc. Speak to our Custom Research Team, Jet Fuel Market - Growth, Trends, and Forecast (2020 - 2025). In January 2020, New York Harbor jet fuel’s swap price is expected at $1.86 a gallon, compared with $1.84 this month, according to data from Argus Media. Jet fuel will remain the laggard going forward, keeping distillate supply more in surplus through the first half and refineries operating more in gasoline-production mode. The low-cost carriers (LCCs) consistently grew at a faster pace than the world average growth, and it's market share continued to increase, both in advanced and emerging economies. Some of the major companies include BP PLC, Exxon Mobil Corporation, Royal Dutch Shell PLC, and Total SA. Platts Jet Fuel Price Index is published by S&P Global Platts, reflecting its daily assessments of physical spot market Jet Fuel spot prices in the relevant regional centers. India is expected to take 3rd place after the United States, surpassing the UK around 2024. China is expected to surpass the United States as the world’s largest aviation market (defined as traffic to, from, and within the country) in the mid-2020s. Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. On a global level, the number of trips per person is expected to increase by 4-8% per year for many emerging countries but could be as high as 10-11% per year in the case of China and India. HVAC (Heating, Ventilation, & Air Conditioning), Global Aviation Fuel Market Share, Size, Analysis - Segmented by Fuel Type, End-User Application, and Geography - Growth, Trends, and Forecast (2018 - 2023), Sustainable Aviation Fuel Market by Fuel Type (Biofuel, Hydrogen Fuel, Power to Liquid Fuel), Biofuel Manufacturing Technology, Biofuel Blending Capacity, Platform, Region - Forecast to 2030, Military Jet Fuel Market - Growth, Trends, and Forecasts (2020 - 2025), Global Jet Fuel Additives Market 2020-2024, Jet Fuel Additives - Global Market Trajectory & Analytics. The … Commercial application accounts for the largest share in the jet fuel market, owing to the increasing number of air passengers and aircraft fleet across the world. Over half of the world’s 1.4 billion tourists who traveled across international borders in 2018 were transported by air. Therefore, with the increasing air passenger and air freight traffic in the region especially from the emerging economies, such as India, Indonesia, and Thailand, the jet fuel market in Asia-Pacific is expected to witness huge growth over the forecast period. Global aviation fuel market was valued at US$178.560 billion in 2019 and is expected to grow at a CAGR of 6.00% over the forecast period to reach … China is expected to surpass the United States as the world’s largest aviation market (defined as traffic to, from, and within the country) in the mid-2020s. This is an enterprise license, allowing all employees within your organization access to the product. Factors, such as increasing air passenger traffic, increasing number of low-cost carriers (LCC) across the world, and increasing demand for air cargo transportation, are expected to drive the jet fuel market in the coming years.
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