Market Size of North America Renewable Aviation Fuel Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 60.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Renewable Aviation Fuel Market Analysis
The market for renewable aviation fuel in North America is expected to grow at a CAGR of over 60% during the forecast period of 2022 - 2027.
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 carbon offsetting and reduction scheme for international aviation (CORSIA), by ICAO (International Civil Aviation Organization) and potential economic advantages along with the long-term growth in the aviation industry such as increasing number of air passengers, on account of the cheaper airfare and more robust economic conditions with increasing disposable income are the major 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.
- United States is expected to be the largest market during the forecast period, owing to the vast number of production facilities like Fulcrum Sierra Biofuels of gasification, FT technology, etc., present in the country.
