Market Size of Europe Commercial Aircraft Aviation Fuel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 14.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Commercial Aircraft Aviation Fuel Market Analysis
The commercial aircraft aviation fuel market in Europe is expected to grow at CAGR of more than 14% during the forecast period of 2020-2025. The increasing number of air passengers, on account of the cheaper airfare in recent times, stronger economic conditions, and increasing disposable income are few major driving factors for the market. However, the recent outbreak of COVID-19 has significantly affected the consumption of aviation fuel in the region. With the closure of international and domestic airlines to curb the spread of the virus, the demand for aviation fuel is expected to decline during the pandemic.
- Aviation turbine fuel (ATF) is the most common fuel used to power commercial flights and is dominating the market of aviation fuels in the region.
- 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 commercial aircraft aviation fuel market.
- With the largest market size in Europe, Russia is leading the market in the region and is likely to continue its dominance during the forecast period as well.
