Jet fuel prices in the aviation industry were at an all-time low during 2020; the lowest value recorded was in the week of May 1, 2020 at 0.46 U.S. dollars per gallon. Now that air passenger demand is improving, the rise in jet fuel prices is putting pressure on the airline industry that is trying to return to profitability.

The cost of airline fuel has been volatile over the last sixteen years. From a high of 3.17 U.S. dollars per gallon in 2012, just four years later the cost had fallen by more than half to 1.45 U.S. dollars and reaching 1.98 U.S dollars per gallon in 2021.

Airline fuel

The vast majority of airline fuel used by U.S. airlines is jet fuel, which is a kerosene-based fuel derived from petroleum. Being a petroleum product, the price of jet fuel is greatly affected by the global price of crude oil. For example, the three most common benchmarks of global oil prices – the Brent, the West Texas Intermediate, and the OPEC (Reference) Basket – all exhibit similar fluctuations in the price of airline fuel in the same period.

Influence of airline fuel price Fuel expenses typically represent around 20-30 percent of an airlines’ total expenses, so any fluctuation in price will respectively affect the financial position of airlines. This is clearly demonstrated by the decline in net profits of airlines globally in 2019, coinciding with the above-mentioned rise in oil prices.

United States Refiner Price: End User: EIA: Kerosene Type Jet Fuel data was reported at 2.081 USD/gal in Apr 2018. This records an increase from the previous number of 1.924 USD/gal for Mar 2018. United States Refiner Price: End User: EIA: Kerosene Type Jet Fuel data is updated monthly, averaging 0.821 USD/gal from Jul 1975 (Median) to Apr 2018, with 514 observations. The data reached an all-time high of 4.008 USD/gal in Jul 2008 and a record low of 0.292 USD/gal in Jul 1975. United States Refiner Price: End User: EIA: Kerosene Type Jet Fuel data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s USA – Table US.P002: Energy Price.

Brazil Weighted Average Price: Aviation Fuel: South data was reported at 2.236 BRL/l in 2018. This records an increase from the previous number of 1.618 BRL/l for 2017. Brazil Weighted Average Price: Aviation Fuel: South data is updated yearly, averaging 1.455 BRL/l from Dec 2002 (Median) to 2018, with 17 observations. The data reached an all-time high of 2.236 BRL/l in 2018 and a record low of 0.596 BRL/l in 2002. Brazil Weighted Average Price: Aviation Fuel: South data remains active status in CEIC and is reported by National Petroleum Agency. The data is categorized under Brazil Premium Database’s Energy Sector – Table BR.RBG015: Weighted Average Price: Aviation Fuel.

Brazil Weighted Average Price: Aviation Fuel: Northeast data was reported at 2.197 BRL/l in 2018. This records an increase from the previous number of 1.562 BRL/l for 2017. Brazil Weighted Average Price: Aviation Fuel: Northeast data is updated yearly, averaging 1.383 BRL/l from Dec 2002 (Median) to 2018, with 17 observations. The data reached an all-time high of 2.197 BRL/l in 2018 and a record low of 0.589 BRL/l in 2002. Brazil Weighted Average Price: Aviation Fuel: Northeast data remains active status in CEIC and is reported by National Petroleum Agency. The data is categorized under Brazil Premium Database’s Energy Sector – Table BR.RBG015: Weighted Average Price: Aviation Fuel.

The average price of metallurgical coal for all users in the United States stood at 5.23 U.S. dollars per million British thermal units, and is expected to decrease to nearly 5.03 U.S. dollars per million British thermal unit of energy generated.

Snapshot img

Commercial Aircraft Aviation Fuel Market Size 2024-2028

The commercial aircraft aviation fuel market size is forecast to increase by USD 56.6 billion at a CAGR of 8.1% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing demand for air travel and the continuing efforts of airlines to enhance operational efficiency. These factors, in turn, are influenced by fluctuations in oil and gas prices. The trend toward larger and more fuel-efficient aircraft is also contributing to market expansion. Additionally, the adoption of alternative fuels, such as biojet and synthetic fuels, is gaining traction as a means to reduce carbon emissions and mitigate environmental concerns. However, challenges remain, including the high cost of alternative fuels and the need for infrastructure development to support their use. Overall, the market is expected to continue its robust growth trajectory, driven by the increasing demand for air travel and the ongoing pursuit of fuel efficiency and sustainability.

What will be the Size of the Commercial Aircraft Aviation Fuel Market During the Forecast Period?

Request Free Sample

The market is a significant primary industry, serving the vital needs of the global commercial aviation sector. This market's size is substantial, driven by the constant demand for jet fuel to power turbine-engine aircraft used by commercial airlines. The industry faces increasing pressure to address environmental concerns, with a focus on reducing greenhouse gas emissions and plastic pollution. Researchers and scientists are exploring alternative fuel types, such as sustainable jet-A fuel derived from waste plastics, to mitigate these issues. The adoption of such fuels is gaining momentum, with biofuels, compressed natural gas (CNG), and liquefied natural gas (LNG) emerging as potential alternatives to traditional jet fuel and avgas.
Aviation fuel storage and handling remain critical infrastructure components, ensuring the seamless distribution of fuel to meet the industry's demands. The market's growth is underpinned by the ongoing expansion of the commercial aviation sector and the continuous quest for more sustainable fuel solutions.

How is this Commercial Aircraft Aviation Fuel Industry segmented and which is the largest segment?

The commercial aircraft aviation fuel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Passenger aircraft
  Cargo aircraft


Type

  Air turbine fuel (ATF)
  Aviation biofuel
  Others


Geography

  North America

    Canada
    US


  APAC

    China
    India


  Europe

    Germany


  South America



  Middle East and Africa

By Application Insights

The passenger aircraft segment is estimated to witness significant growth during the forecast period. The market is primarily driven by the demand from large commercial airlines operating passenger aircraft. The aviation industry experiences continuous growth due to increasing commercial passenger traffic, fueling the need for more fuel. In 2023, domestic passenger traffic In the US is projected to reach 1.36 billion, representing a slight increase from industry estimates of 1.3-1.35 billion. The overall airline capacity deployment for 2023 saw a 38% increase compared to the previous year. Domestic air passenger traffic in March 2023 experienced an 8% increase compared to February 2023. The aviation sector's environmental concerns, including greenhouse gas emissions and plastic pollution, have led to the exploration of alternative fuels.

Companies like Occidental and CemvitaFactory are developing sustainable jet-A fuel from waste plastics using synthetic microbes. Commercial aircraft fleets, including new aircraft, rely on aviation turbine fuel and bio jet fuel as alternative renewable options. The aviation fuel market encompasses jet fuel, Avgas, biofuels, compressed natural gas (CNG), and liquefied natural gas (LNG). Aviation fuel storage, handling, and dispensing are essential components of the market. The aviation industry's growth is influenced by commercial passenger traffic, the airline industry, tourism, and business travel. Regulations, travel guidelines, and the use of organic waste to reduce CO2 emissions are shaping the future of the aviation fuel market.

Get a glance at the market report of various segments Request Free Sample

The Passenger aircraft segment was valued at USD 56.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market d

United States - Producer Price Index by Commodity: Fuels and Related Products and Power: Jet Fuel was 201.20000 Index 1982=100 in December of 2018, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Fuels and Related Products and Power: Jet Fuel reached a record high of 387.00000 in July of 2008 and a record low of 36.50000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Fuels and Related Products and Power: Jet Fuel - last updated from the United States Federal Reserve on March of 2025.

In 2021, Air China Group's jet fuel costs increased by about 40 percent to nearly 21 billion yuan. This was mainly due to the impact of the rising jet fuel prices during the year.

In the fiscal year of 2023, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel, down from 130 cents paid for per liter of fuel in the previous year. In the period of consideration, 130 Canadian cents was the highest average fuel cost paid by the airline company.

Ethanol Gasoline: Producer Price: China VI: 92#: China National Aviation Fuel Group Tianjin Petroleum data was reported at 8,675.000 RMB/Ton in 07 Feb 2025. This records an increase from the previous number of 8,600.000 RMB/Ton for 31 Jan 2025. Ethanol Gasoline: Producer Price: China VI: 92#: China National Aviation Fuel Group Tianjin Petroleum data is updated daily, averaging 7,935.000 RMB/Ton from Dec 2018 (Median) to 07 Feb 2025, with 317 observations. The data reached an all-time high of 10,247.200 RMB/Ton in 11 Mar 2022 and a record low of 4,778.000 RMB/Ton in 15 May 2020. Ethanol Gasoline: Producer Price: China VI: 92#: China National Aviation Fuel Group Tianjin Petroleum data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Gasoline: Producer Price.

The revenue of the market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) in Iceland amounted to $X in 2018, growing by X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Over the period under review, the market for internal combustion engine (excl. diesel, moto vehicle and aircraft) reached its peak figure level in 2018 and is expected to retain its growth in the near future.

Korea ExPI: USD: MFG: CL: Petroleum Prdts: Fuel Oil: Jet Fuel data was reported at 102.910 2010=100 in Jun 2018. This records a decrease from the previous number of 104.670 2010=100 for May 2018. Korea ExPI: USD: MFG: CL: Petroleum Prdts: Fuel Oil: Jet Fuel data is updated monthly, averaging 68.455 2010=100 from Jan 1995 (Median) to Jun 2018, with 282 observations. The data reached an all-time high of 185.670 2010=100 in Jul 2008 and a record low of 16.170 2010=100 in Feb 1999. Korea ExPI: USD: MFG: CL: Petroleum Prdts: Fuel Oil: Jet Fuel data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s Korea – Table KR.I068: Export Price Index (USD Basis): 2010=100.

Herewith are analysed data in graphs showing the;

1. Fuel Import trend 1984 - 2017 for Diesel, Mogas, Jetfuel , DPK & Other kerosene and LPG
2. The total volume imported and the annual Percentage Changes for fuel imported between 1984 - 2017
3. Fuel Consumption by Sector 2013 - 2017
4. The national electrification level - stand alone systems and those households connected to the national grid from 2009 - 2018
5. Access to Modern Form of Energy 2009 - 2018
6. Electicity Generation from 100% diesel to 100% RE by 2030
7. Fuel Supply Security - # of days 2009 - 2017
8. Productive Power Use - Share of Electricity sold to non-residentioal customers 2009 - 2017
9. Macro - Economic Affodability - total mineral fuel imports as a % of Real GDP 2009 - 2016
10. Household Energy Expenditure Load 2009 - 2019
11. Wholesale and Retail Fuel Prices 2009 - 2018 and
12. Electricity Tariff 2009-2019

Keywords: Tuvalu, Energy, Electricity Tariff, Fuel, Electricity, Fuel supply security

Japan PPI: PC: PP: Fuel Oil: Jet Fuel Oil data was reported at 124.300 2015=100 in Oct 2018. This records an increase from the previous number of 121.900 2015=100 for Sep 2018. Japan PPI: PC: PP: Fuel Oil: Jet Fuel Oil data is updated monthly, averaging 100.900 2015=100 from Jan 2001 (Median) to Oct 2018, with 214 observations. The data reached an all-time high of 188.900 2015=100 in Sep 2008 and a record low of 51.500 2015=100 in Jan 2002. Japan PPI: PC: PP: Fuel Oil: Jet Fuel Oil data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I054: Producer Price Index: 2015=100: Petroleum and Coal Products.

The statistic illustrates the number of turboprop passenger airplanes removed from the global aircraft fleet from 2005 to 2018. In 2018, the rise in fuel prices and other factors lead to the retirement of 85 passenger turboprops from the global fleet.

The revenue of the market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) in Malta amounted to $X in 2018, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), however, continues to indicate a temperate contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Malta consumption of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) peaked at $X in 2008; however, from 2009 to 2018, consumption failed to regain its momentum.

Weighted Average Price: Aviation Fuel: North在2018达2.204 BRL/l，相较于2017的1.563 BRL/l有所增长。Weighted Average Price: Aviation Fuel: North数据按每年更新，2002至2018期间平均值为1.369 BRL/l，共17份观测结果。该数据的历史最高值出现于2018，达2.204 BRL/l，而历史最低值则出现于2002，为0.596 BRL/l。CEIC提供的Weighted Average Price: Aviation Fuel: North数据处于定期更新的状态，数据来源于National Petroleum Agency，数据归类于Brazil Premium Database的Energy Sector – Table BR.RBG015: Weighted Average Price: Aviation Fuel。

Snapshot img

Animal Transportation Market 2024-2028

The animal transportation market size is estimated to grow at a CAGR of 5.07% between 2023 and 2028. The market size is forecast to increase by USD 600.02 million. The growth of the market depends on several factors such as increased demand for animals from slaughterhouses and the dairy industry, growth in the global pet population and decline in fuel prices increasing profit margins of LSPs.

The report offers extensive research analysis on the animal transportation market with a categorization based on Application, including livestock, pets, and others. It further segments the market by Type, encompassing personal and commercial. Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.

What will be the Size of the Animal Transportation Market During the Forecast Period?

Animal Transportation Market Forecast 2024-2028

To learn more about this report, Request Free Sample

Animal Transportation Market Dynamic

Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.

Driver- Decline in fuel prices increasing profit margins of LSPs

In recent years, there has been a substantial decline in fuel prices globally due to oversupply. Jet fuel prices constitute 35%-45% of the operating cost of airlines; thus, with the reduction in fuel prices, airfares became cheaper, resulting in driving air passenger traffic and profit margins of airlines. In 2019, the net profit margin for the global airline industry was around USD 42.5 billion, which reached around USD 48.2 billion in 2020. The decline in jet fuel prices, the strong performance of the airline industry, and strong economic conditions will boost the market for animal transportation via air.

Also, the decline in fuel prices for trucks will boost the market for animal transportation via road. Since half a decade back, there has been a steady decline in gasoline and diesel fuel prices, prompting shippers and freight forwarders to reduce invoice prices. This reduction benefitted LSPs in terms of better profit margins and prompted LSPs to improve the efficiency of the animal transportation supply chain. Such factors will drive the growth of the global animal transportation market during the forecast period.

Trends- Increasing adoption of the Internet of Things (IoT) in the logistics industry

Some logistics service providers have started adopting the loT for optimal asset utilization, geofencing, fleet management, and smart inventory management. IoT-based technologies help logistics companies with a large fleet in preventing sudden breakdowns. The integration of connected devices, such as electronic log devices (ELD), with the loT, enhances the efficiency of logistics operations. Furthermore, the companies that offer freight and logistics services are increasingly using the IoT in fleet management systems to perform a wide range of functions, such as aircraft maintenance, licensing and compliance, supply chain management, asset transfer, safety management, and fuel management.

Moreover, the next generation of successful supply chain management, known as logistics 4.0, will leverage edge computing and the IoT to yield real-time, automated sense-and-respond feedback mechanisms. In the coming years, there will be an increase in the implementation of the loT in the global animal transportation market, thereby propelling the growth of the global animal transportation market during the forecast period.

Challenge- Shortage of truck drivers and mandates on ELDs

The animal transportation market is highly dependent on the trucking industry for transportation via road for 300-350 miles. At a global level, there is a shortage of skilled truck drivers in the logistics industry, which is expected to grow steadily during the forecast period. A shortage of skilled truck drivers in the global animal transportation market can disrupt the supply chain. Livestock haulers are responsible for driving the truck safely with live load and play a critical role in animal husbandry. ELD implementation requires haulers to stop their vehicles after fixed service hours and unload animals at the nearest facility, as animals or livestock cannot stay in vehicles during rest hours. This poses a challenge for livestock haulers, as it increases the operational cost of animal transportation. European countries such as the UK a

Snapshot img

Tank Trucking Market Size 2024-2028

The tank trucking market size is forecast to increase by USD 117.4 billion at a CAGR of 8.09% between 2023 and 2028.

The market is experiencing significant growth due to the increasing demand for transporting oil and natural gas. This sector is witnessing technological advancements, including the adoption of smart tanks and real-time monitoring systems, which are enhancing safety and efficiency. However, leakage issues during transportation remain a major challenge, necessitating the use of advanced materials and technologies to mitigate risks. The market is expected to continue its growth trajectory, driven by the expanding energy sector and the need for reliable and cost-effective transportation solutions. Despite these opportunities, industry players must address regulatory compliance and safety concerns to ensure sustainable growth.

What will be the Size of the Tank Trucking Market During the Forecast Period?

Request Free SampleThe tank trucking industry plays a crucial role in cargo transportation, particularly for specialized equipment such as tankers. Motor vehicles, specifically tank trucks, are essential for long-distance transportation of various commodities, including hazardous materials, in industries like health care, oil and gas, and chemical production. Tank trucks are integral to the transportation of hazardous chemicals, petroleum products such as gasoline, diesel, jet fuel, and heating oil, from refineries to retail outlets. Inflation, recession, and crude oil prices significantly impact the market. Economic conditions influence freight demand, while oil prices affect the cost of fuel for tanker operations. Inaccessible areas and the need for specialized equipment expand the market's reach.Industries like the US construction industry and fast-moving consumer goods also rely on tank trucking for their logistical needs. The market continues to evolve, adapting to the changing demands of various sectors and the ongoing need for safe and efficient transportation of lightweight components.

How is this Tank Trucking Industry segmented and which is the largest segment?

The tank trucking industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. OwnershipFor hirePrivateCapacityMedium dutyHeavy dutyLight dutyGeographyNorth AmericaUSEuropeUKFranceAPACChinaSingaporeSouth AmericaMiddle East and Africa

By Ownership Insights

The for hire segment is estimated to witness significant growth during the forecast period.

Tank trucking is a crucial segment of cargo transportation, particularly for the transport of hazardous materials, petroleum products, and chemicals. The use of specialized tanker trucks, motor vehicles designed for long-distance transportation, is essential for industries such as oil and gas, health care, and the hazardous chemicals sector. Tank trucks, an integral part of the transportation industry, come in various fleet types, including for-hire, light duty, medium duty, and heavy duty. The for-hire segment is expected to witness significant growth due to the increasing demand for short-term transport operations. The integration of advanced technologies like artificial intelligence, self-driving trucks, refrigerated tank trucks, platooning, satellite technology, and digital transparency systems is revolutionizing the market.The market's growth is influenced by factors such as inflation, recession, crude oil prices, and freight demand. Industries like food and beverages, fertilizers, and agriculture also rely on tank trucks for liquid transportation to meet their energy needs. The market caters to the demands of urban areas and inaccessible regions, making it an indispensable part of various industries.

Get a glance at the Tank Trucking Industry report of share of various segments Request Free Sample

The For hire segment was valued at USD 136.60 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 34% to the growth of the global market during the forecast period.

Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The North American the market is experiencing notable expansion due to substantial infrastructure development and construction activities In the region, particularly In the oil and gas sector. The US has made substantial investments in constructing oil and gas pipelines, creating an extensive transmission and distribution network that connects nearly all states. The surge in unconventional exploration and production (E&P) activiti