APAC Aviation Fuel Market Size
| 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 |
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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 Market Trends
This section covers the major market trends shaping the APAC Aviation Fuel Market according to our research experts:
Commercial Aircraft Segment to Dominate the Market
- Commercial aviation includes operating scheduled and non-scheduled aircraft, which involves commercial air transportation of passengers or cargo. The commercial segment is one of the largest consumers of aviation fuel, and it accounts for a quarter of total operating expenditure for an airline operator.
- In 2018, Asia-Pacific account for 34.3% of world scheduled passenger and freight traffic. On the passenger side, airlines from the Asia-Pacific led the way, with growth over the year of 9.5% in 2018.
- Asia-Pacific witnessed the highest year-on-year growth in 2019 while registering a 4.8% increase in comparison to 2018. Additionally, the region is expected to lead the world air traffic in the next two decades, as short-haul routes continue to increase in China and India in particular. Hence, the demand for aviation fuel is expected to increase during the forecast period.
- As per the International Air Transport Association (IATA), in the Asia-Pacific region, four countries are expected to witness the highest passenger traffic by 2035. China is expected to witness 817 million new passengers, India is expected to witness 322 million, and Indonesia and Vietnam are expected to witness 247 million new passengers. Thus, in the region, the increase in passenger traffic is likely to rise demand for commercial aircraft segment.
- Therefore, factors such as positive trend in the air passenger traffic and freight tonnes are expected to boost the demand for aviation fuel in the commercial application over the forecast period.
China to Dominate the Market
- China is one of the largest aviation fuel markets in the region, and it is also one of the largest in terms of air passengers carried. As of the end of 2019, domestic passengers in China were the second-largest in the aviation market after the United States.
- China is the second-largest defense spending nation after the United States. The country's Air Force has a fleet of more than 3,000 aircraft, which is expected to expand in the coming years, in turn, increasing the demand for aviation fuel.
- With close to 4 billion origin-destination (O-D) passenger journeys worldwide in 2018, domestic routes within China provided the largest incremental growth globally in the number of passenger trips, adding just under 50 million journeys.
- Hence, with an increase in domestic travel, which accounts for more than 85% of the air traffic in China, the demand for aviation fuel is expected to increase during the forecast period.
APAC Aviation Fuel Industry Overview
The Asia-Pacific aviation fuel market is fragmented. Some of the major players in the market include Bharat Petroleum Corp Ltd, Chevron Corporation, Vitol Holding BV, Royal Dutch Shell Plc, and China Aviation Oil Corporation Ltd.
APAC Aviation Fuel Market Leaders
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Bharat Petroleum Corp Ltd
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Chevron Corporation
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Vitol Holding BV
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Royal Dutch Shell Plc
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China Aviation Oil Corporation Ltd
*Disclaimer: Major Players sorted in no particular order
APAC Aviation Fuel Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Forecast in USD, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Force Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Fuel Type
- 5.1.1 Air Turbine Fuel (ATF)
- 5.1.2 Aviation Biofuel
- 5.1.3 Others
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5.2 Application
- 5.2.1 Commercial Aircraft
- 5.2.2 Military Aircraft
- 5.2.3 General Aviation
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5.3 Geography
- 5.3.1 China
- 5.3.2 Japan
- 5.3.3 India
- 5.3.4 Indonesia
- 5.3.5 Australia
- 5.3.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Bharat Petroleum Corp Ltd
- 6.3.2 Chevron Corporation
- 6.3.3 Vitol Holding BV
- 6.3.4 Royal Dutch Shell Plc
- 6.3.5 China Aviation Oil Corporation Ltd
- 6.3.6 Pertamina Persero PT
- 6.3.7 Petronas Aviation Sdn Bhd
- 6.3.8 World Fuel Services Corp
- 6.3.9 BP plc
- 6.3.10 Exxon Mobil Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAPAC 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 |
APAC Aviation Fuel Market Research 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.
What years does this Asia-Pacific Aviation Fuel Market cover?
The report covers the Asia-Pacific Aviation Fuel Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Aviation Fuel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Aviation Fuel Industry Report
Statistics for the 2024 APAC Aviation Fuel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Aviation Fuel analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
