About eFuel
E-fuels are synthetic hydrocarbons refined from a power-to-liquid (PtL) process. The process combines hydrogen and carbon monoxide or CO2 through a complex chemical reaction or the Fischer-Tropsch process. Geographically, Europe is leading for higher adoption of efuel in the market. The demand for e-fuel industry states that the e-diesel or e-petrol can then be used both in new cars and within the existing fleet of cars either as a drop-in fuel i.e blended into fossil petrol or diesel or used as a standalone fuel that is triggering the market growth in the upcoming year
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.0% |
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. The market is expected to grow in the automotive industry. It has wide application for removable Co2 Emission. Several companies such as eFuel Alliance e.V, Sunfire GmbH, Norsk e-Fuel AS are operating in the market to provide customers with various features & unique offering services and prices. The market is a highly consolidated market with the presence of several market players. The demand for the market is slow due to low acceptance but is expected to drive market growth over the upcoming year. 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.
E-Fuel Corporation (United States), eFuel Alliance e.V (Brüssel), Sunfire GmbH (Germany), Norsk e-Fuel AS (Norway), Siemens (Germany), Sunfire (Germany), Velocys (United Kingdom), eFUEL Corp (United States), Aker Solutions (Norway), Porsche (Germany), IAV (Germany), Neste (Finland) and Others are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global eFuel market by , Application (Aviation, Maritime, Road transport and Others) and Region.
On the basis of geography, the market of eFuel 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). If we see Market by Form, the sub-segment i.e. Liquid Fuel will boost the eFuel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Storage Type, the sub-segment i.e. Electrical will boost the eFuel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel Type, the sub-segment i.e. Diesel will boost the eFuel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapidly rising demand for hydrogen driven product
Market Growth Drivers:
It is more user-friendly, convenient and climate-friendly
Challenges:
Expectance for efuel in the market is low
Restraints:
E-fuel powered cars emit much more CO₂ than battery-electric cars
Opportunities:
The growth of the automobile sector due to increasing urbanization and industrialization
Market Leaders and their expansionary development strategies
On March 2021 Neste joins the eFuel Alliance. The main aim of neste to join efuel alliance to produce bio-based synthetic fuels to in order to reduce greenhouse gas emissions from transport.
On April 2021 Aker Solutions Wins the FEED Contract for an e-Fuel Plant in Norway. The main aim of the e-Fuel plant is to produce CO2-neutral fuel by using green hydrogen and furnace gas from an existing factory.
Key Target Audience
Manufacturer, Supplier, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-use Industry
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.