Renewable Energy-based Commercial Aviation Market in Scandinavia - Market Overview and Forecast by Technavio
Technavio
analysts forecast the renewable
energy-based commercial aviation market in Scandinavia to
grow at a CAGR of close to 6% during the forecast period, according to
their latest report.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170505005744/en/
Technavio has published a new report on the renewable energy-based commercial aviation market in Scandinavia from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of
the renewable
energy-based commercial aviation market in Scandinavia
for 2017-2021. The market is further segmented by type of renewable
energy source, which includes aviation biofuel and airport solar PV
systems.
The use of renewable energy has been given the highest priority in
Scandinavian countries across various sectors, including industrial,
housing, and transportation. However, the implementation of solar-based
energy or biofuel is in its infancy within the regional aviation
industry. Researchers at Technavio expect that the growing investments
by both private and public entities, along with government incentive
schemes will propel the market during the forecast period.
Looking for more information on this market? Request
a free sample report
Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.
Technavio analysts highlight the following three factors that are
contributing to the growth of the renewable energy-based commercial
aviation market in Scandinavia:
-
Easy access to feedstock in Scandinavian countries
-
Emerging SMEs with innovative technologies
-
Favorable regulatory policies
Easy access to feedstock in Scandinavian countries
Feedstock should be cost-effective and available in large quantities to
make sustainable jet fuel production commercially viable. Feedstock for
sustainable jet fuel are also a potential feedstock for other renewable
fuels (biodiesel or ethanol). Therefore, there is no need to establish a
separate feedstock processing facility exclusive to jet fuel production.
Instead, an already established base for producing sustainable fuels for
road and other means of transport can be shared for producing
sustainable jet fuels. “The fact that several other industries
require similar raw materials can add to the demand for the feedstock.
Several factors in feedstock logistics also increase the final jet fuel
price. The Scandinavian countries, however, are at an advantage over
most others worldwide in that they have abundant resources of feedstock,
which are required for processing environmentally viable jet fuels,”
says Avimanyu Basu, a lead aerospace
components research analyst at Technavio.
Emerging SMEs with innovative technologies
The Scandinavian region is considerably well-developed with respect to
the availability of nanomaterials and their influence on renewable power
generation resources such as wind turbines and solar cells. Several SMEs
have emerged across the region and have directed their efforts toward
leveraging the properties of nanomaterials to drive sustainable energy
growth on an industry-wide scale. Consequently, similar developments can
directly influence the implementation of renewable resource leveraging
technologies in the Scandinavian commercial aviation market, such as in
the form of cost-effective back-up power through batteries and fuel
cells, and solar power to offset energy consumption from the grid. Some
of these SMEs are:
-
Abalonyx, Oslo, Norway
-
Nanologica, Uppsala, Sweden
-
Sol Voltaics, Lund, Sweden
-
Re-Turn, Fredrikstad, Norway
-
EnSol, Bergen, Norway
Favorable regulatory policies
“The Scandinavian governments have jointly placed a special
emphasis on establishing a robust framework that can facilitate the
growth of renewable power generation in respective member countries,”
says Avimanyu.
Further, as per the Renewable Energy Directive (RED) of the European
Union, all the member countries are obliged to use renewable sources for
power generation that can address a minimum of 20% of their gross power
consumption by 2020. However, unlike other EU countries, Scandinavian
countries have shown considerable progress in terms of using renewable
resources for power generation.
Browse related reports:
Become a Technavio
Insights member and access all three of these reports for a
fraction of their original cost. As a Technavio Insights member, you
will have immediate access to new reports as they’re published in
addition to all 6,000+ existing reports covering segments like aerospace,
defense
technology, and maintenance,
repair, and overhaul (MRO). This subscription nets you
thousands in savings, while staying connected to Technavio’s constant
transforming research library, helping you make informed business
decisions more efficiently.
About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170505005744/en/
Copyright Business Wire 2017
