The global eFuel market is anticipated to grow at a CAGR of around 22.0% during the forecast period (2021-2027). The key factor to drive the market growth include the increasing initiatives by government and private automotive companies for the adoption of alternative green and e-fuels. For instance, with the US Department of Energy Clean Cities Program, the government is transforming the energy sectors by promoting Alternative fuel vehicles. The department is under the ongoing practice of reducing petroleum consumption.
Browse the full report description Global E-Fuel Market Size, Share & Trends Analysis Report by Fuel Type (E-Diesel, E/Synthetic Gasoline, Synthetic Ethanol, and Others) B Forecast Period 2021-2027 at https://www.omrglobal.com/industry-reports/efuel-market
Additionally, various policies are being drafted by the European government to promote more alternate e-fuels. The US government has formulated tax credits for hydrogen fuel vehicles at the federal level up to $7500 and $4000. The regulations are increasing in countries such as India and China resulting in the growth of the market.
Rising acquisitions, product approval, collaborations among the major further propels the market during the forecast period. For instance, in February 2021, Sunfire partnered with the e-fuel alliance to achieve climate goals for Europe. This is a multi-option strategy that will be enabling the better consideration practical approach of climate policies in European states.
Further, in June 2020, Norsk e-fuel AS announced to industrialize Plant for hydrogen-based renewable aviation fuel in Norway to expand the European market. The joint venture involved in this industrial production of renewable fuels is having four partners including Sunfire GmbH, Climeworks AG, Paul worth SA, and the parent company of Norsk Vind together these companies aim to convert Norway Resources of wind and hydropower into renewable fuels. With this alliance, the company will towards making global transportation truly sustainable and create renewable sources of energy.
Market Coverage
o By Fuel Type
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global EFuel Market Report Segment
BY Fuel Type
Global EFuel Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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