About Heating Fuels
Heating fuel means heating oil, kerosene, or other dyed diesel fuel that is not used to propel a motor vehicle and is typically used for heating a structure. Heating oil is mainly used in boilers and furnaces for space heating in residential or commercial buildings. In some buildings, it is also used for heating water. Compared to natural gas or electricity heating oil is cost-effective and offers better heating.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Heating Fuels market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Exxon Mobil (United States), Shell (Netherlands), PetroChina Co.Ltd (China) and Saudi Arabian Oil Co. (Arabia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Heating Fuels market by Type (Natural Gas, Kerosene and Diesel Fuel), Application (Residential, Commercial and Municipal Buildings) and Region.
On the basis of geography, the market of Heating Fuels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Use of Natural Gas as Heating Fuel Due to Low Cost Compared to Others
Market Growth Drivers:
Increased Demand of Heating Fuels for Heating Purpose in Buildings
Challenges:
Increasing Regulations on Petroleum Products and Geographical Issues
Restraints:
Government Initiatives to Replace Oil, Coal and LPG Heating Systems with Renewable Energy Alternatives
Opportunities:
Bioheat fuel provides heating fuel retailers and their customer service and sales
Market Leaders and their expansionary development strategies
In December 2020, Approved Oil Company announced the acquisition of Original Energy's heating oil and service division to strengthen its position in New York's Metropolitan area. Approved is a leading full-service energy supplier in the greater New York area. The acquisition will help company to explore new opportunities and increase our customer base with first-class products and services.
In May 2022, BDH, the German Heating Equipment Association, is launching the 'Green Fuels Ready' label in cooperation with en2x, the German Association of Fuels and Energy. The label indicates the compatibility of boilers, tanks and components with the new low-carbon liquid fuels. Dr Ernst-Moritz Bellingen, Director of en2x and President of Eurofuel,
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Heating Fuels Manufacturers, Suppliers and Distributors of Heating Fuels, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.