Market Size of Europe Aviation Fuel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 14.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Aviation Fuel Market Analysis
The aviation fuel market in Europe is anticipated to register a CAGR of more than 14% during the forecast period.
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and flight restrictions. Currently, the market has reached pre-pandemic levels.
- The increasing number of air passengers, on account of the cheaper airfare in recent times, stronger economic conditions, and increasing disposable income, are among the major driving factors for the market. Efforts to increase the share of biofuels in the aviation sector are also driving the market considerably.
- However, the high and volatile cost of aviation fuel is expected to restrain the market.
- The European Commission is aiming to increase the Sustainable Aviation Fuel (SAF) to 40% by 2040 to reduce greenhouse gas emissions. The initiative is expected to create significant opportunities in the aviation fuel market.
- With the largest market size in Europe, Spain is leading the market in the region and is likely to continue its dominance during the forecast period as well.
