Global E-Fuel Market: Industry Growth, Market Size, Share and Forecast 2018-2023Posted by OMR Global on January 2nd, 2020 The global e-fuel is projected to grow at a CAGR of 22.0% during the forecast period (2018-2023). With continuously worsening environmental concerns, the demand for renewable and clean energy has increased multifold. Particularly in the developed economies, investments have grown substantially in order to adopt renewable energy in the place of conventional energy sources. For instance, WHEEL (the Warehouse for Energy Efficiency Loans) and private & public companies are working on clean energy sources. Such initiatives by governments as well as private and public market players in the e-fuel industry are contributing to the substantial growth in the clean energy sources. As the number of alternative-fuel station increases, the consumption of these fuels would also increase as compared to conventional fuels such as diesel, gasoline and other carbon emitting gases. The energy dynamics of the world is shifting towards renewable and clean energy due to growing adverse effects of pollution and worsening the environmental conditions. Emerging economies such as China, India, Brazil, Russia and others are optimistically moving forward towards renewable energy. Considering the replacement of such conventional fuels, these countries are switching towards clean and renewable energy sources, which in turn, is expected to propel the growth of the global e-fuel market during the forecast period. A full report description of "eFuel Market- Industry Size, Global Trends, Competitive Analysis and Forecast, 2018-2023" at https://www.omrglobal.com/industry-reports/efuel-market A decent number of renewable energy deployment recorded even in low oil and gas prices market. The major factors for the renewable energy demand over conventional energy sources are its falling costs for renewable energy technologies, and a host of social, economic and environmental drivers. A record of 6 billion invested in renewables in 2015 which is considered as a strong signal to investors and policymakers to shift their attention towards this new power generation technology. The major growth came from new installations of wind and solar energy and increased overall capacity by around one-third in the last 5 years. As a result, several alternatives to liquid fossil fuels have been explored including gaseous fuels, biofuel, synthetic fuels and e-fuels. Hydropower contributed 71% of all renewable electricity in the year 2015. While, the undeveloped potential was calculated approximately 10,000 TWh/y globally. Moreover, more than 30% increase in the global hydropower capacity between 2007 and 2015 making it to a total of 1209 GW in 2015, out of which 145 GW is pumped storage. As hydropower is one of the crucial components for e-fuels, significant growth of e-fuel is expected in the upcoming years. Moreover, industry has seen a demand of cleaner energy fuels due to their benefits such as decrease in local air pollution and greenhouse gas emissions; thus, improving the quality of life for citizens. This, in turn, will contribute to the growth of the global e-fuel market. Global E-fuel Market – Segment By Fuel Type
By Application
By State of Fuel
Global E-fuel Market – Regional
Europe
Asia-Pacific
Rest of the World
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