Market Size of Europe Commercial Aircraft Aviation Fuel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 14.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Commercial Aircraft Aviation Fuel Market Analysis
The commercial aircraft aviation fuel market in Europe is expected to grow at CAGR of more than 14% during the forecast period of 2020-2025. The increasing number of air passengers, on account of the cheaper airfare in recent times, stronger economic conditions, and increasing disposable income are few major driving factors for the market. However, the recent outbreak of COVID-19 has significantly affected the consumption of aviation fuel in the region. With the closure of international and domestic airlines to curb the spread of the virus, the demand for aviation fuel is expected to decline during the pandemic.
- Aviation turbine fuel (ATF) is the most common fuel used to power commercial flights and is dominating the market of aviation fuels in the region.
- The European Commission is aiming to increase the Sustainable Aviation Fuel (SAF) to 40% by 2040 to reduce greenhouse gas emissions. The initiative is expected to create significant opportunities in the commercial aircraft aviation fuel market.
- With the largest market size in Europe, Russia is leading the market in the region and is likely to continue its dominance during the forecast period as well.
Europe Commercial Aircraft Aviation Fuel Industry Segmentation
The Europe commercial aircraft aviation fuel market report includes:
Europe Commercial Aircraft Aviation Fuel Market Size Summary
The European commercial aircraft aviation fuel market is poised for significant growth, driven by an increase in air travel demand due to factors such as affordable airfare, robust economic conditions, and rising disposable incomes. Despite the challenges posed by the COVID-19 pandemic, which led to a temporary decline in fuel consumption due to airline closures, the market is expected to recover as travel restrictions ease. Aviation turbine fuel (ATF) remains the dominant fuel type in the region, with initiatives like the European Commission's goal to increase Sustainable Aviation Fuel (SAF) usage by 2040 creating new opportunities. Russia leads the market in Europe, benefiting from its large market size and growing air passenger traffic.
The demand for jet fuel in European countries is on the rise, with significant consumption reported in nations like France and Germany. The United Kingdom's air transport sector plays a crucial role in its economy, with substantial air connectivity. The easing of lockdowns and the reopening of air travel markets are anticipated to boost ATF demand from the low levels experienced during the pandemic. The market is moderately fragmented, with key players including PJSC Gazprom, BP PLC, Royal Dutch Shell PLC, Total SA, and Neste Oyj. As air travel demand increases, particularly in Russia and other CIS nations, the aviation fuel market is expected to experience substantial growth in the coming years.
Europe Commercial Aircraft 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 Demand Forecast in USD billion, 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 Forces 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 AVGAS
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2.2 Geography
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2.2.1 The United Kingdom
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2.2.2 Germnay
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2.2.3 France
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2.2.4 Russia
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2.2.5 Rest of Europe
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Europe Commercial Aircraft Aviation Fuel Market Size FAQs
What is the current Europe Commercial Aircraft Aviation Fuel Market size?
The Europe Commercial Aircraft Aviation Fuel Market is projected to register a CAGR of greater than 14% during the forecast period (2024-2029)
Who are the key players in Europe Commercial Aircraft Aviation Fuel Market?
Gazprom Neft PJSC , Neste Oyj , BP PLC , Royal Dutch Shell PLC and Total SA are the major companies operating in the Europe Commercial Aircraft Aviation Fuel Market.
