Global Diesel Fuel Market Size, Share, Growth Analysis, By End User(Cars, Trucks) - Industry Forecast 2024-2031

Q: What is the global market size of Diesel Fuel Market?

Diesel Fuel Market was valued at USD 212.40 billion in 2021, and the market size is estimated to reach USD 295.83 billion by 2030, at a CAGR of 3.75% over the forecast period (2023-2030).

Report ID: SQMIG10C2011 | Region: Global | Published Date: February, 2024
Pages: 260 | Tables: 40 | Figures: 64

Global Diesel Fuel Market Insights

Diesel Fuel Market was valued at USD 212.40 billion in 2019, and the market size is estimated to reach USD 295.83 billion by 2031, at a CAGR of 3.75% over the forecast period (2024-2031).

Diesel fuel is essential for boosting the global economy and standard of living in a variety of ways, including the transportation of consumer products around the world, the creation of electricity, and improving farm productivity. The market for diesel fuel is being driven by the rising energy demand brought on by population growth and industrial activities. Additionally, the industry is projected to have tremendous potential opportunities due to rising oil and gas exploration and production spending.

The demand for diesel fuel has increased across the regions as a result of the fast industrialization of emerging markets and the rising usage of diesel in non-transporting activities such as home and commercial heating applications. Significant demand for diesel fuel is being seen across many industries, particularly in the automotive and transportation sectors. The key elements influencing the market changes include the cost of fuel; improvements in the automotive industry's technology; governmental regulations; and regional demographics.

However, a surge in carbon emission-related worries as well as a move toward electric cars and renewable energy sources are projected to impede industry expansion. It is projected that the development of alternative fuels, particularly natural gas, and advancements in a number of electric-based technologies, including normal hybrids, plug-in hybrids, and pure electric vehicles (EVs), will change the demand for diesel. These essential components are crucial for assessing and comprehending supply dynamics and demand patterns in various economies.

US Diesel Fuel Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Diesel Fuel Market Report Snapshots

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FAQs

Diesel Fuel Market was valued at USD 212.40 billion in 2019, and the market size is estimated to reach USD 295.83 billion by 2031, at a CAGR of 3.75% over the forecast period (2024-2031).

The diesel fuel market is highly fragmented. Some of the major players in the market include Chevron Corporation, Exxon Mobil Corporation, PetroChina Company Limited, Qatar Petroleum, and Royal Dutch Shell Plc. To increase their geographic reach, well-established vendors are implementing expansion tactics like partnerships and mergers. The adoption of alternative fuel vehicles will pose a barrier to the market participants' ability to grow, despite the fact that rising oil and gas E&P investments will present tremendous business potential. Market vendors should preserve their positions in the slow-growing segments while concentrating more on the growth prospects in the fast-growing segments to take advantage of the opportunities. 'Denso (Japan)', 'Bosch (Germany)', 'MAHLE (Germany)', 'Universe Filter (China)', 'Fredenberg (Germany)', 'YBM (South Korea)', 'Phoenix (Germany)', 'Baowang', 'TOYOTA BOSHOKU (Japan)', 'ALCO Filters (UK)'

Diesel generator sets are becoming increasingly popular

It is anticipated that the transportation sector will dominate the market. Because there are more passenger cars, light trucks, and big trucks on the road, the transportation sector is anticipated to dominate the market. Diesel is mostly employed in the main urban transportation and mobility modes, including freight transportation, private transportation, and public transit. The expanding urban population is anticipated to result in an increase in the number of automobiles on the road.

Compared to other regions, the North American continent accounts for a large portion of military spending. The U.S. army's growing vehicle capability is the key factor driving the number of military vehicles in the region. New sales of other cars in the region have also been increasing steadily. As a result, the North American area is expected to witness a strong expansion in the diesel fuel market. The manufacturing industry in Europe is well-established and expanding, and it is supported by the chemical, steel, and other industries. The expansion of the region's manufacturing sector has increased exports, which has contributed to the transportation sector's brisk expansion.

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Global Diesel Fuel Market Size, Share, Growth Analysis, By End User(Cars, Trucks) - Industry Forecast 2024-2031

Global Diesel Fuel Market Insights

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