The global Transportation Fuel Market to grow with a CAGR of 2% over the forecast period of 2018-2024.
Transportation fuels are derived from petroleum, biomass and synthetic fluids. These fuels are energy fuels that give power. Transportation fuels are consumed by various modes of transportation i.e. road, rail, air and water. In global diesel and gasoline accounted for major share market in transportation .Aviation industry mostly uses aviation turbine fuel and railway industry consumes diesel as primary fuel.
Major players in the global are Total, Hindustan Petroleum Corporation Limited, PETRONAS, Bharat Petroleum Corporation Limited, Allied Aviation Services, Royal Dutch Shell, Gazprom, and Centrica.
Hindustan Petroleum Corporation - India's annual fuel demand grew by 0.2 per cent in 2019-20 to reach 214 million tons. This was the lowest growth rate in over two decades, mainly due to substantial 17.8 per cent decline in consumption in March 2020 following commencement of lockdown and travel restrictions due to COVID19. In order to strengthen core processes and modernize, HPCL has developed ambitious plans for expansion and diversification in the areas of increasing energy demand, technological up gradation and environment management. Expansion, your company has planned an investment of over ? 60,000 crore for developing infrastructure during the next 5 years. The refinery expansion and augmentation projects to increase capacity of Mumbai Refinery to 9.5 MMTPA and Visakh Refinery to 15 MMTPA along with residue upgradation facilities are progressing well. These projects will improve the complexity of the refineries and add to the overall Gross Refining Margins.
Aviation Services - Governments, the finance community and the fuel producers both large and small must work together with the goal of rapidly increasing production of affordable sustainable aviation fuel. IATA estimates that current SAF production is 50 million liters annually. To reach a tipping point where the scale of production will see SAF costs drop to levels competitive with jet fuel, production needs to reach seven billion liters or two per cent of 2019 consumption.
SAF is our biggest emissions reduction opportunity. The time is right to push it forward so that we can achieve major carbon reductions on the way towards fossil-fuel-free flight. Consumption of refined fuels, a proxy for oil demand, is expected to total 222.79 million tons in 2020/21, according to the initial estimates released on Monday by the Petroleum Planning and Analysis Cell of the federal oil ministry.
Segmentation covered by fuel is Gasoline, Diesel, Biofuels, Aviation Turbine Fuel, and CNG. By application it is Roadways, Airways, Railways and Waterways. By geographically it includes Asia-Pacific, Europe, North-America and Middle East & Africa. Most of the gas demand lost in 2020 is expected to be recovered in 2021, supplemented by growth from the Asia Pacific region, as China and Asian emerging markets recover economically and benefit from attractive gas prices. Mature markets in Europe, Eurasia and North America, which were the hardest hit in 2020, are expected to recover most of their consumption losses in 2021 as demand from the industrial and power generation sectors gradually returns.
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