E-Fuel Market is anticipated to grow at a CAGR of around 22.8% during the forecast period. E-fuels are in the form of synthetic fuels that are generally produced by storing electrical energy from renewable sources. These are produced in the form of liquid or gaseous state and are created with the support of CO2, electricity, renewable energy, and water. The production of E-fuel does not need any large space and does not pollute the environment.
The factors attributing to the growth of the market include the growth of the automobile sector due to increasing urbanization and industrialization. According to National Investment Promotion and Facilitation Agency, India is forecasted to be the third-largest passenger vehicle market by 2021 globally. The sales of the passenger vehicle market in 2018-19 increased by 2.70%. Additionally in 2019, the automobile exports also grew by 14.50%.
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However, higher investment for resource, development, transportation, storage, and extractions is one of the major challenge faced by the market such as installing pipelines for transportation of hydrogen requires digging and machinery cost and setup. Additionally, lack of awareness among people about the e-fuels is further projected to hamper the growth of the market. However, many private companies are moving towards development such as Audi, Hyundai is developing vehicles that are powered by e-fuels including hydrogen, gasoline, ethane, and others is bringing upon an opportunity for the growing market.
E-Fuel Market Segmentation
By Fuel Type
- E-Diesel
- E/Synthetic Gasoline
- Synthetic Ethanol
- Hydrogen
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Archer Daniels Midland Co. (ADM)
- AUDI AG
- Ballard Power Systems Inc.
- Carbon Recycling International (CRI)
- Ceres Power Holding Plc
- Clean Fuel USA
- Climeworks AG
- E-Fuel Corp.
- EnergieDienst Holding AG
- Flint Hills Resources LP
- Fuel cell Energy Inc.
- Green Plains Inc.
- Honda Motor Co. Ltd.
- Hydrogenics Corp.
- Ineratec GmbH
- Plug Power Inc.
- SFC Energy AG4
- Sunfire GmbH
- The Viessmann Group
- Toyota Motor Corp.
- Valero Energy Corp.
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