The overall Global Biodiesel Market is expected to grow at a CAGR of 8.1 percent in the forecast period of 2013-2014
London, 31 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Biodiesel Market 2014-2018. The report outlines the market growth and size of biodiesel across the globe and its relative significance among the key international players.
The Global Biodiesel market is anticipating steady growth from 2013-2018 because of some interesting trends such as the emergence of biodiesel as a clean fuel, which has prompted investors to invest more in the market.
Biodiesel is made from sources such as vegetable oil and animal fat. It has attracted considerable attention during the past decade as a non-toxic fuel because of the environmental benefits it offers. The numerous advantages of biodiesel over conventional hydrocarbon fuels and increased government support are the major factors that drive market growth.
“The driving factors for biodiesel production are robust policy frameworks and the growing automotive industry, especially flexible-fuel vehicles. The Renewable Energy Directive in Europe mandates a 20 percent target for the adoption of renewable technologies by 2020, thus prompting many organizations to turn to alternative fuels,” says Faisal Ghaus, Vice President of TechNavio Research.
Relativity to Fossil Fuels
The global annual production of biodiesel is increasing because the prices of fossil fuels are expected to fluctuate more in the near future as a result of the depletion of conventional fuel sources. Also, the increased importance of alternative fuels is likely to drive the market for biodiesel. In addition to the benefits of biodiesel over conventional sources of energy, another important factor propelling the growth of the Global Biodiesel Market is the government policies and mandates related to renewable technologies.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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