Market Size of Europe Renewable Aviation Fuel Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 55.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Renewable Aviation Fuel Market Analysis
The market for renewable aviation fuel in Europe is expected to grow at a CAGR of over 55% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Supportive government policies, such as the introduction of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) by the ICAO (International Civil Aviation Organization), are expected to boost the market. Additionally, potential economic advantages along with the long-term growth in the aviation industry, such as the increasing number of air passengers, on account of cheaper airfare, and stronger economic conditions with increasing disposable income, are the significant factors that are expected to drive the market during the forecast period.
- On the other hand, the high cost of renewable aviation fuels is expected to hinder market growth.
- Increasing concerns over emissions from the airline industry and government initiatives in developed economies to reduce airline emissions are expected to provide significant opportunities for renewable aviation fuel in the future.
- Germany is expected to witness significant demand during the forecast period, owing to the aviation initiatives taken by the government for the development of SAF (Sustainable Aviation Fuel).
