London, 04 March 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Fuel Consumption Market for Transportation Industry 2015-2019, which is expected to grow at a CAGR of 2.1 percent during the forecast period of 2014-2019.
There has been an increase in environmental concerns regarding GHG emissions from gasoline and diesel-based vehicles. Though biofuels have emerged as an option, their high costs have limited their use to blending. Usage of low carbon fuels, the emergence of advanced vehicle technologies, and efficient operation of vehicles are key efforts required to reduce GHG emissions.
“Micro-hybrid vehicles and FFVs are the most significant non-gasoline vehicles that can control emission levels and sustainably advance the industry toward more fuel-efficient and competent vehicles in terms of emissions,” says Faisal Ghaus, Vice President of TechNavio.
“These vehicles help in meeting stringent GHG emissions and standards such as the CAFE standards in the US and the European emission standards in the EU countries.”
Key Market Drivers
- Increase in Oil and Gas Supply
- Advances in Technology in Automotive Industry
- Increase in Number of Global Vehicles
Key Market Trends
- Increase in Non-gasoline LDVs
- Improvement in Fuel Economy
- Increase in Natural Gas Consumption
Key Market Vendors
- BP plc
- China National Petroleum Corp. (CNPC)
- Exxon Mobil Corp.
- Royal Dutch Shell plc
- Total SA
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
