Market Trends of Europe Aviation Fuel Industry
Commercial Sector to Dominate the Market
- Commercial aviation includes operating scheduled and non-scheduled aircraft, which involves commercial air transportation of passengers or cargo. The commercial segment is one of the largest consumers of aviation fuel, and it accounts for a quarter of the total operating expenditure for an airline operator.
- Air transportation of passengers in European countries is increasing considerably. Germany reported around 54.6 million passengers' transportation by air between April 2022 to October 2022.
- In 2021, the total number of passengers carried by commercial airlines rose to around 4.54 billion, which was 5.58% higher than the previous years. Europe accounted for 26.4% of the total world aviation traffic in 2020.
- The European Union (EU) has proposed a mandate of Sustainable Aviation Fuel use from 2% in 2025 to 63% in 2050. Such measures are likely to witness significant developments in achieving sustainable aviation biofuels during the forecast period.
- Therefore, due to the aforementioned factors, the commercial sector is expected to dominate the market.
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Spain to Dominate the Market
- Spain is one of the largest Western Europe domestic air markets by seats and has registered growth in terms of air passenger traffic over the past five years, reaching a total of 228 million in 2019.
- However, in 2020 the number of passengers traveling fell to 57.79 million in 2020 due to a strict travel ban from the Spanish government. But as the situation improved, the figures for 2021 grew by more than 59%, reaching a total of 91.89 million.
- The aviation fuel market in the country is expected to witness significant growth during the forecast period, mainly driven by increasing tourism and domestic air traffic.
- Moreover, the increasing number of passengers in the country is directly contributing to the demand for jet fuel consumption in the country. The trend is expected to change, especially due to the increasing number of tourists from European countries such as France and the United Kingdom.
- Therefore, due to the aforementioned factors, Spain is expected to dominate the market during the forecast period.
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