Research Nester published a report titled “No.2 Diesel Fuel Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers a detailed overview of the global no.2 diesel fuel market in terms of market segmentation by sulfur content, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global no.2 diesel fuel market is estimated to occupy a large amount of revenue by recording a robust CAGR during the forecast period, i.e., 2022 – 2030, owing to the growing awareness associated with the use of high-performance fuels, and increasing per capita spending around the world. Apart from these, growing number of vehicles on the road, and notable expansion of transportation industry, especially in developing and developed countries, are another crucial factors expected to accelerate market growth in the forthcoming years. The International Organization of Motor Vehicle Manufacturers states that 91.786 million automobiles were produced in 2019. Out of these, around 67.149 million units belonged to cars and the remaining 24.637 million units were of commercial vehicles.
The market is segmented by sulfur content and application. Based on sulfur content, the ultra-low sulfur diesel fuel segment is anticipated to observe noteworthy growth rate during the forecast period on the back of escalating awareness about environmental pollution, and strict rules to lower the amount of sulfur content in fuels. Additionally, by application, the transportation segment is projected to gather the largest share over the forecast period ascribing to the rapidly growing industrialization and urbanization globally.
Geographically, the global no.2 diesel fuel market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Europe is evaluated to grab the largest share in the market during the forecast period attributing to the stringent regulations regarding fuel characteristics, and increasing number of refining projects in the region. Moreover, Asia Pacific is predicted to register noteworthy market growth over the forecast period in view of the escalating demand for diesel fuel and high industrial growth in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Rising Awareness about the Use of High-Performance Fuels Around the World to Boost Market Growth
Since the last three decades, diesel engines are extensively being used in various applications including power generation, construction, transportation, manufacturing and others. This has raised the demand for high-performance diesel fuel across the globe, which in turn is projected to be one of the primary growth drivers for the market in the imminent time.
However, utilization of biofuels in the transportation sector is expected to operate as key restraint to the growth of the global no.2 diesel fuel market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global no.2 diesel fuel market which includes company profiling of B.P. plc, ExxonMobil Corporation, Royal Dutch Shell plc., Chevron Corporation, Compañía Española de Petróleos (CEPSA), PetroChina Company Limited, Petro-Canada Corporation, Sinopec Corp., Kendrick Oil Company, Archer Daniels Midland Company, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global no.2 diesel fuel market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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