Energia
Second Generation Biofuels Market to Reach $54.8 Bn, Globally, by 2030 at 26.4% CAGR: Allied Market Research
Favorable government regulations on SOx and NOx in addition to GHG emissions drive the growth of the global second generation biofuels market. However, acquisition of economical feedstock hinders the market growth. On the other hand, the energy sector incorporates new opportunities for next generation biofuels in the coming years.
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Based on application, the transportation segment held the highest market share in 2020, accounting for 85% of the global second generation biofuels market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to its distribution channel as they can be easily distributed through the current infrastructure with minor modifications. Moreover, the power generation segment is projected to manifest the highest CAGR of 26.7% from 2021 to 2030.
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Based on type, the cellulosic ethanol segment accounted for the largest share in 2020, contributing to nearly one-third of the global second generation biofuels market, and is projected to maintain its lead position during the forecast period. However, the biodiesel segment is expected to portray of 27.8% from 2021 to 2030.
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global second generation biofuels market. This is because Bioethanol is one of the majorly produced and utilized biofuel in the country which is produced from corn grain and is abundantly available in the U.S. Moreover, the LAMEA region is expected to witness the fastest CAGR of 30.4% during the forecast period. This is because Brazil is the second largest biofuel producing nation after the U.S.
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is projected to reach $59.4 billion by 2030, growing at a CAGR of 26.4% from 2021 to 2030.
is projected to reach $130.1 billion by 2027, growing at a CAGR of 3.1% from 2020 to 2027.
is projected to reach
$126.2 billion by 2030, growing at a CAGR of 8.5% from 2021 to 2030.
is projected to reach at $36,035 million by 2023, growing at a CAGR of 14.1% from 2017 to 2023.
size is expected to reach 11,468 kilo barrels/day by 2022 at a CAGR of 6.67% from 2016 to 2022
is expected to reach $217.8 billion by 2030, registering a CAGR of 7.6% from 2021 to 2030.
is anticipated to generate $238.5 billion by 2026, growing at a CAGR of 3.5% from 2019 to 2026.
is projected to reach $66.5 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
is anticipated to reach $8,862 million , growing at a CAGR of 10.9% from 2017 to 2023.
is projected to reach $50.1 billion by 2027, growing at a CAGR of 4.6% from 2020 to 2027.
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