Global Alternative Fuels Market 2018-2022 | Increasing Use of Natural Gas in the Transportation Sector to Promote Growth | Technavio

The global alternative fuels market is expected to post a CAGR of nearly 9% during the period 2018-2022, according to the latest market research report by Technavio.

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Technavio has released a new market research report on the global alternative fuels market for the period 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the increasing emissions of greenhouse gases. Globally, awareness of environmental issues that are caused by the combustion of fossil fuels is increasing. Transportation, electricity generation, and industrial activities are the main source of GHG emissions. GHG emissions lead to drastic climate changes, rise in global temperature, and an increase in sea levels.

This market research report on the global alternative fuels market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the increasing use of natural gas in the transportation sector as one of the key emerging trends in the global alternative fuels market:

Global alternative fuels market: Increasing use of natural gas in the transportation sector

Globally, one of the major sources of air pollution is the transportation sector. According to the IEA, the transportation sector contributed 23% of the GHG emissions. The combustion of fossil fuels releases emissions such as carbon dioxide, which proves to be a major contributor to GHG emissions. They led to climate change and a decline in air quality.

“Globally, governments have decided to decarbonize the transportation sector to curb the effects of GHG emissions as it has a negative effect on the ecosystem. In 2017, to achieve low carbon emissions, 141 governments accepted the goal of decarbonizing. The emergence of alternative fuel sources can be attributed to the transition to non-polluting energy sources,” says a senior analyst at Technavio for research on oil and gas.

Global alternative fuels market: Segmentation analysis

This market research report segments the global alternative fuels market by application (automotive and aviation) and geographical regions (APAC, EMEA, and the Americas).

The automotive segment held the largest market share in 2017, accounting for nearly 89% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with a market share of nearly 46%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by over 2%.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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