Diesel Fuel Market
Diesel Fuel Market Forecasts to 2030 - Global Analysis By Product (Petroleum Diesel, Hydrogenated Oils and Fats, Diethyl Ether, Synthetic Diesel and Biodiesel), Application (Commercial Vehicles and Passenger Vehicles), End User and By Geography
According to Stratistics MRC, the Global Diesel Fuel Market is accounted for $239.06 billion in 2023 and is expected to reach $358.51 billion by 2030 growing at a CAGR of 6.0% during the forecast period. Diesel fuel, also called diesel oil, is a liquid fuel refined from crude oil and has better usable energy than gasoline. Diesel fuel is produced from animal fat, natural gas, and coal liquefaction techniques. It is composed of a mixture of hydrocarbons that are obtained from petroleum, such as biodiesel, biomass to liquid, or gas to liquid diesel. Diesel fuel is commonly used in diesel engines, which are widely employed in various applications, including transportation, industrial machinery, power generation, and agriculture.
According to the US Energy Information Administration, the three US refineries produced approximately 1.75 billion barrels (73.46 billion gallons) of ULSD.
Market Dynamics:
Driver:
Rising industrialization and urbanization
As countries undergo industrialization, there is an increased demand for diesel fuel to power machinery and equipment in sectors such as manufacturing, construction, and mining. Additionally, urbanisation leads to the expansion of transportation networks, including roads, railways, and ports, which rely heavily on diesel-powered vehicles and equipment for the movement of goods and people. Moreover, urban areas require diesel for power generation, backup generators, and heating systems. The combined effect of industrialization and urbanisation drives up demand for diesel fuel, thereby accelerating market growth.
Restraint:
Rise of alternative fuels
Diesel's reign faces a green challenge! The focus is shifting to the growing popularity of alternative fuels, including electric alternatives, synthetic diesel, and biodiesel. These competitors may displace diesel because of their cleaner burning and fewer emissions. As technology advances and costs decrease, diesel continues to struggle to stay competitive. The market for diesel fuel is being severely impacted by this move towards greener alternatives, which is pushing the industry to adapt and develop in order to remain competitive in the future.
Opportunity:
Increased efficiency
Advancements in diesel engine technology, such as improved fuel injection systems and combustion processes, enhance fuel economy and reduce emissions. This translates to lower operating costs for consumers and businesses while reducing the environmental footprint of diesel-powered vehicles and equipment. Moreover, efficiency improvements strengthen the competitiveness of diesel-powered vehicles and equipment in the market, positioning diesel fuel as a viable and sustainable energy option for transportation, industry, and power generation applications.
Threat:
Stringent environmental regulations
Regulations targeting air pollution and greenhouse gas emissions impose costly requirements on diesel fuel producers and users, potentially making diesel less competitive compared to cleaner alternatives. Mandates such as emission standards for vehicles and equipment, low sulphur content regulations and carbon pricing mechanisms raise operating expenses and deter investment in diesel technologies. This threatens market stability and growth by reducing consumer confidence in diesel fuel and encouraging the adoption of alternative fuels.
Covid-19 Impact
With global lockdowns and travel restrictions, demand for diesel plummeted, particularly in transportation and industrial sectors. Due to reduced economic activity and slowdowns in manufacturing further suppressed demand. However, as restrictions eased, demand began to recover, driven by resuming economic activities and increased freight transportation. Fluctuations in oil prices, supply chain disruptions, and shifts towards remote work also influenced market dynamics.
The petroleum diesel segment is expected to be the largest during the forecast period
The petroleum diesel segment is estimated to hold the largest share. Petroleum diesel is derived from crude oil and powers machines, buses, trucks, and other vehicles while achieving great fuel economy and drawing criticism for its emissions. For heavy-duty applications, petroleum diesel is still necessary, even as greener alternatives like biodiesel and synthetic diesel gain popularity. Furthermore, petroleum diesel offers high energy density and is relatively affordable, making it a preferred choice for many consumers and industries.
The marine industry segment is expected to have the highest CAGR during the forecast period
The marine industry segment is anticipated to have lucrative growth during the forecast period. The marine industry relies heavily on diesel fuel for propulsion and power generation in vessels of various sizes, including cargo ships, cruise liners, fishing boats, and offshore platforms. Diesel fuel's high energy density, stability, and availability make it a preferred choice for marine applications, offering efficient and reliable performance over long distances and in demanding marine environments.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period. The region contains a large and growing population, along with increasing urbanization. It enhances the need for both personal and commercial transportation. Thereby, the region's transportation industry is growing, and diesel fuel is widely used in automobiles, trucks, buses, and motorbikes, which is contributing to the market's expansion. Moreover, the industrial, construction, mining, and agricultural sectors in Asia-Pacific are diversified. Diesel fuel is a major source of power for generators, machinery, and other equipment in these industries, driving market growth.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period due to the growing usage of modern technologies and the presence of major players in this region. Diesel fuel is the primary fuel source for heavy-duty vehicles, which play a significant part in North American freight transportation. Moreover, the demand for diesel fuel is rising in developing nations due to increased urbanisation and industrialization. As these economies expand, the need for diesel fuel in the region is strengthened by an increase in transportation, power generation, and building activities.
Key players in the market
Some of the key players in the Diesel Fuel Market include Denso, MAHLE, Bosch, Fredenberg, Universe Filter, YBM, Baowang, Phoenix, ALCO Filters, TOYOTA BOSHOKU, Chevron Corporation, Shell Plc, Reliance Industries Ltd, BP plc, ALCO Filters, SK Energy Co. Ltd., Universe Filter, Petrobras, Indian Oil Corporation and TotalEnergies.
Key Developments:
In November 2023, Petrobras establishes a partnership for renewable diesel supply to SIM Distributor. The contract stipulates that Petrobras will deliver the fuel to SIM in Araucária (PR), where the Presidente Vargas Refinery (Repar), which produces Diesel R, is located.
In October 2023, Petrobras partners with mining firm Vale to accelerate development of low-carbon solutions in Brazil. The partnership is for a two-year period and will assess joint decarbonisation opportunities, including the development of sustainable fuels—such as hydrogen, green methanol, biobunkers, green ammonia and renewable diesel—and CO2 capture and storage technologies.
Products Covered:
• Petroleum Diesel
• Hydrogenated Oils and Fats
• Diethyl Ether
• Synthetic Diesel
• Biodiesel
Applications Covered:
• Commercial Vehicles
• Passenger Vehicles
End Users Covered:
• Marine Industry
• Transportation Industry
• Others End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Diesel Fuel Market, By Product
5.1 Introduction
5.2 Petroleum Diesel
5.3 Hydrogenated Oils and Fats
5.4 Diethyl Ether
5.5 Synthetic Diesel
5.6 Biodiesel
6 Global Diesel Fuel Market, By Application
6.1 Introduction
6.2 Commercial Vehicles
6.3 Passenger Vehicles
7 Global Diesel Fuel Market, By End User
7.1 Introduction
7.2 Marine Industry
7.3 Transportation Industry
7.4 Others End Users
8 Global Diesel Fuel Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Denso
10.2 MAHLE
10.3 Bosch
10.4 Fredenberg
10.5 Universe Filter
10.6 YBM
10.7 Baowang
10.8 Phoenix
10.9 ALCO Filters
10.10 TOYOTA BOSHOKU
10.11 Chevron Corporation
10.12 Shell Plc
10.13 Reliance Industries Ltd
10.14 BP plc
10.15 ALCO Filters
10.16 SK Energy Co. Ltd.
10.17 Universe Filter
10.18 Petrobras
10.19 Indian Oil Corporation
10.20 TotalEnergies
List of Tables
1 Global Diesel Fuel Market Outlook, By Region (2021-2030) ($MN)
2 Global Diesel Fuel Market Outlook, By Product (2021-2030) ($MN)
3 Global Diesel Fuel Market Outlook, By Petroleum Diesel (2021-2030) ($MN)
4 Global Diesel Fuel Market Outlook, By Hydrogenated Oils and Fats (2021-2030) ($MN)
5 Global Diesel Fuel Market Outlook, By Diethyl Ether (2021-2030) ($MN)
6 Global Diesel Fuel Market Outlook, By Synthetic Diesel (2021-2030) ($MN)
7 Global Diesel Fuel Market Outlook, By Biodiesel (2021-2030) ($MN)
8 Global Diesel Fuel Market Outlook, By Application (2021-2030) ($MN)
9 Global Diesel Fuel Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
10 Global Diesel Fuel Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
11 Global Diesel Fuel Market Outlook, By End User (2021-2030) ($MN)
12 Global Diesel Fuel Market Outlook, By Marine Industry (2021-2030) ($MN)
13 Global Diesel Fuel Market Outlook, By Transportation Industry (2021-2030) ($MN)
14 Global Diesel Fuel Market Outlook, By Others End Users (2021-2030) ($MN)
15 North America Diesel Fuel Market Outlook, By Country (2021-2030) ($MN)
16 North America Diesel Fuel Market Outlook, By Product (2021-2030) ($MN)
17 North America Diesel Fuel Market Outlook, By Petroleum Diesel (2021-2030) ($MN)
18 North America Diesel Fuel Market Outlook, By Hydrogenated Oils and Fats (2021-2030) ($MN)
19 North America Diesel Fuel Market Outlook, By Diethyl Ether (2021-2030) ($MN)
20 North America Diesel Fuel Market Outlook, By Synthetic Diesel (2021-2030) ($MN)
21 North America Diesel Fuel Market Outlook, By Biodiesel (2021-2030) ($MN)
22 North America Diesel Fuel Market Outlook, By Application (2021-2030) ($MN)
23 North America Diesel Fuel Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
24 North America Diesel Fuel Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
25 North America Diesel Fuel Market Outlook, By End User (2021-2030) ($MN)
26 North America Diesel Fuel Market Outlook, By Marine Industry (2021-2030) ($MN)
27 North America Diesel Fuel Market Outlook, By Transportation Industry (2021-2030) ($MN)
28 North America Diesel Fuel Market Outlook, By Others End Users (2021-2030) ($MN)
29 Europe Diesel Fuel Market Outlook, By Country (2021-2030) ($MN)
30 Europe Diesel Fuel Market Outlook, By Product (2021-2030) ($MN)
31 Europe Diesel Fuel Market Outlook, By Petroleum Diesel (2021-2030) ($MN)
32 Europe Diesel Fuel Market Outlook, By Hydrogenated Oils and Fats (2021-2030) ($MN)
33 Europe Diesel Fuel Market Outlook, By Diethyl Ether (2021-2030) ($MN)
34 Europe Diesel Fuel Market Outlook, By Synthetic Diesel (2021-2030) ($MN)
35 Europe Diesel Fuel Market Outlook, By Biodiesel (2021-2030) ($MN)
36 Europe Diesel Fuel Market Outlook, By Application (2021-2030) ($MN)
37 Europe Diesel Fuel Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
38 Europe Diesel Fuel Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
39 Europe Diesel Fuel Market Outlook, By End User (2021-2030) ($MN)
40 Europe Diesel Fuel Market Outlook, By Marine Industry (2021-2030) ($MN)
41 Europe Diesel Fuel Market Outlook, By Transportation Industry (2021-2030) ($MN)
42 Europe Diesel Fuel Market Outlook, By Others End Users (2021-2030) ($MN)
43 Asia Pacific Diesel Fuel Market Outlook, By Country (2021-2030) ($MN)
44 Asia Pacific Diesel Fuel Market Outlook, By Product (2021-2030) ($MN)
45 Asia Pacific Diesel Fuel Market Outlook, By Petroleum Diesel (2021-2030) ($MN)
46 Asia Pacific Diesel Fuel Market Outlook, By Hydrogenated Oils and Fats (2021-2030) ($MN)
47 Asia Pacific Diesel Fuel Market Outlook, By Diethyl Ether (2021-2030) ($MN)
48 Asia Pacific Diesel Fuel Market Outlook, By Synthetic Diesel (2021-2030) ($MN)
49 Asia Pacific Diesel Fuel Market Outlook, By Biodiesel (2021-2030) ($MN)
50 Asia Pacific Diesel Fuel Market Outlook, By Application (2021-2030) ($MN)
51 Asia Pacific Diesel Fuel Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
52 Asia Pacific Diesel Fuel Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
53 Asia Pacific Diesel Fuel Market Outlook, By End User (2021-2030) ($MN)
54 Asia Pacific Diesel Fuel Market Outlook, By Marine Industry (2021-2030) ($MN)
55 Asia Pacific Diesel Fuel Market Outlook, By Transportation Industry (2021-2030) ($MN)
56 Asia Pacific Diesel Fuel Market Outlook, By Others End Users (2021-2030) ($MN)
57 South America Diesel Fuel Market Outlook, By Country (2021-2030) ($MN)
58 South America Diesel Fuel Market Outlook, By Product (2021-2030) ($MN)
59 South America Diesel Fuel Market Outlook, By Petroleum Diesel (2021-2030) ($MN)
60 South America Diesel Fuel Market Outlook, By Hydrogenated Oils and Fats (2021-2030) ($MN)
61 South America Diesel Fuel Market Outlook, By Diethyl Ether (2021-2030) ($MN)
62 South America Diesel Fuel Market Outlook, By Synthetic Diesel (2021-2030) ($MN)
63 South America Diesel Fuel Market Outlook, By Biodiesel (2021-2030) ($MN)
64 South America Diesel Fuel Market Outlook, By Application (2021-2030) ($MN)
65 South America Diesel Fuel Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
66 South America Diesel Fuel Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
67 South America Diesel Fuel Market Outlook, By End User (2021-2030) ($MN)
68 South America Diesel Fuel Market Outlook, By Marine Industry (2021-2030) ($MN)
69 South America Diesel Fuel Market Outlook, By Transportation Industry (2021-2030) ($MN)
70 South America Diesel Fuel Market Outlook, By Others End Users (2021-2030) ($MN)
71 Middle East & Africa Diesel Fuel Market Outlook, By Country (2021-2030) ($MN)
72 Middle East & Africa Diesel Fuel Market Outlook, By Product (2021-2030) ($MN)
73 Middle East & Africa Diesel Fuel Market Outlook, By Petroleum Diesel (2021-2030) ($MN)
74 Middle East & Africa Diesel Fuel Market Outlook, By Hydrogenated Oils and Fats (2021-2030) ($MN)
75 Middle East & Africa Diesel Fuel Market Outlook, By Diethyl Ether (2021-2030) ($MN)
76 Middle East & Africa Diesel Fuel Market Outlook, By Synthetic Diesel (2021-2030) ($MN)
77 Middle East & Africa Diesel Fuel Market Outlook, By Biodiesel (2021-2030) ($MN)
78 Middle East & Africa Diesel Fuel Market Outlook, By Application (2021-2030) ($MN)
79 Middle East & Africa Diesel Fuel Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
80 Middle East & Africa Diesel Fuel Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
81 Middle East & Africa Diesel Fuel Market Outlook, By End User (2021-2030) ($MN)
82 Middle East & Africa Diesel Fuel Market Outlook, By Marine Industry (2021-2030) ($MN)
83 Middle East & Africa Diesel Fuel Market Outlook, By Transportation Industry (2021-2030) ($MN)
84 Middle East & Africa Diesel Fuel Market Outlook, By Others End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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