Market Size of Saudi Arabia Automotive Fuels Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 13.25 Million barrels per day |
| Market Volume (2029) | 17.11 Million barrels per day |
| CAGR (2024 - 2029) | 5.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Automotive Fuels Market Analysis
The Saudi Arabia Automotive Fuels Market size in terms of production capacity is expected to grow from 13.25 Million barrels per day in 2024 to 17.11 Million barrels per day by 2029, at a CAGR of 5.25% during the forecast period (2024-2029).
- Over the medium term, rising demand from heavy automobiles for transportation and increasing automotive sales in Saudi Arabia are expected to drive the Saudi Arabian automotive fuels market during the forecast period.
- On the other hand, rising demand and the adoption of electric vehicles in the automotive sector are expected to hinder the growth of the market.
- Nevertheless, the Saudi Arabian government's target of blending ethanol with crude oil by 2050 is likely to create lucrative growth opportunities for the Saudi Arabian automotive fuels market during the forecast period.
