Global B5 Fuel Market

Global B5 Fuel Market Size, Share, Growth Analysis, By Application(Industries, Transportation) - Industry Forecast 2023-2030

Report ID: SQMIG10G2017 | Region: Global | Published Date: March, 2023 | Pages: 242 | Tables: 37 | Figures: 74

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FAQ's

Global B5 Fuel Market size was valued at USD 41.7 billion in 2021 and is poised to grow from USD 44 billion in 2022 to USD 73.8 billion by 2030, growing at a CAGR of 5.7% in the forecast period (2023-2030).

Competition in the global B5 Fuel market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with B5 Fuel will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Chevron', 'ExxonMobil', 'Royal Dutch Shell', 'BP', 'Total S.A.', 'Sinopec', 'China National Petroleum Corporation (CNPC)', 'Petrobras', 'Valero Energy Corporation', 'Lukoil', 'Gazprom', 'Marathon Petroleum Corporation', 'Eni S.p.A.', 'Phillips 66', 'Indian Oil Corporation', 'Pemex', 'Caltex', 'Petronas', 'Reliance Industries Limited', 'Rosneft'

The B5 Fuel card is a type of key facilitator for operation in any compression ignition engine design to be operated on petroleum diesel.This can include light duty and heavy duty diesel cars and trucks, tractors, boards and electrical generators.Engines operating on beef 5 fuel have similar fuel consumption, horsepower and top to engines running on petroleum diesel.With the 5% biodiesel content, 1% to 2% less energy per gallon than petroleum diesel, and many B5 users report no noticeable difference in performance or fuel economy.This increasing use of B5 fuel will in various applications has led to the growth of the market.

There is a recent trend of using B5 fuel in light and heavy duty diesel cars, trucks, tractors, boats and generators as they are safe to use.They are approved by ASTM for safe operation in any compression ignition engine design to be operated on petroleum diesel.US has adopted renewable fuel standard which has allowed the distribution of B5 biodiesel in fuel station throughout the country.

Globally, Asia Pacific is estimated to hold the highest global B5 Fuel market share in 2021. Main factors during this growth period are the presence of top market players,Increasing industrialisation,demand for clean energy,and others.

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