Market Size of Jet Fuel Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 175.76 Billion |
| Market Size (2029) | USD 297.10 Billion |
| CAGR (2024 - 2029) | 11.07 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Jet Fuel Market Analysis
The Jet Fuel Market size is estimated at USD 175.76 billion in 2024, and is expected to reach USD 297.10 billion by 2029, growing at a CAGR of 11.07% during the forecast period (2024-2029).
- Over the medium period, the increasing number of air passengers, based on the cheaper airfare in recent times, improving economic conditions, and increasing disposable income, are expected to drive the market during the forecast period.
- On the other hand, the market can face hurdles in the coming years due to the high share of fossil-fuel-based jet fuels in many countries. They are responsible for the degradation of the environment.
- Nevertheless, the increasing concerns over emissions from the aviation industry led several governments worldwide to implement mandates that require a blending of renewable aviation fuel with conventional fuel types. It is expected to create significant opportunities for the companies involved in the market.
- Asia-Pacific dominated the market globally, as the region witnessed increasing passenger traffic, especially from emerging economies.
