The cost of diesel fuel in the United States reached an annual average of 3.76 U.S. dollars per gallon in 2024. This was a decrease compared to the previous year, when diesel sold for an average of 4.21 U.S. dollars per gallon. In 2022, increased economic activity and thus fuel demand combined with supply constraints following the Russia-Ukraine war, which resulted in a notable rise in monthly diesel prices Crude oil prices and their impact on motor fuel prices Motor fuel prices largely mirror major oil benchmarks, such as the OPEC reference basket, WTI, and Brent. As such, the oil glut in 2015 and 2016, which followed years of increased oil production output by the U.S., is largely responsible for the fall in diesel prices seen in those years. The same is true for the 2020 pandemic-induced oil crisis and fall in benchmarks that year. Diesel and gasoline price development The usage of diesel began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly used commercially. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel fuel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines, and as such are often used for large commercial vehicles.
In 2023, renewable diesel production in the United States was *** billion liters. This was a notable increase compared to the previous year. By 2030, it is forecast that U.S. renewable diesel production volume will reach **** billion liters. The U.S. is already the world's largest producer of biodiesel and renewable diesel.
U.S. consumption of diesel fuel amounted to a four-week rolling average of around 3.46 million barrels per day in the first week of June 2025. In the period of consideration, diesel consumption in the country reached its peak in February 2022.
https://www.ibisworld.com/about/termsofuse/https://www.ibisworld.com/about/termsofuse/
Petroleum refiners have experienced volatile conditions in recent years since crude oil is the primary input cost for refiners in the United States. Crude oil is a highly volatile commodity as a result of its sensitivity to microeconomic and macroeconomic factors, including volatile production, demand and the health of global economies. As petroleum refiners pass these prices to customers, industry returns see similar volatility. With an uptick in crude oil prices through 2025, industry revenue has pushed up at a CAGR of 16.5% to an estimated $821.8 billion, including a 3.3% dip in 2025 alone. The period started slow, as the pandemic weakened global productivity, cutting down the need for petroleum-based products like fuel. As the economy recovered, so did prices, allowing refineries to exhibit double-digit growth in 2021 and 2022. As prices came down, revenue eventually fell slightly. Nonetheless, these volatile conditions caused some companies to exit the industry. High barriers also discouraged new entrants, so most of the period was marked by expanding existing facilities rather than building new ones. This results in a high concentration of refineries, predominantly located along the Gulf Coast in Texas, Louisiana and California. Unlike standalone refiners, large integrated companies manage crude oil reserves to mitigate price volatility, maintaining stable profitability despite oil price fluctuations. Petroleum refiners face long-term challenges from the transition to green energy, driven by more investment in renewables and electric vehicle infrastructure from the Inflation Reduction Act. As the need for motor gasoline falls with the rise of electric cars, refineries may shift towards carbon capture technologies and chemical production to remain viable. While many refineries have closed recently, some may convert to renewable fuel facilities, as seen in Marathon's partnership with Nestle. Despite these challenges, the US remains a global leader in oil production, so refineries will still exhibit slight growth moving forward. Overall, revenue is set to push up at a CAGR of 0.5% through 2030, reaching $844.0 billion in 2030.
The attribute data for this point dataset come from EIA's U.S. Renewable Diesel Fuel and Other Biofuels Plant Production Capacity report, which is sourced from U.S. Energy Information Administration, Form EIA-819, Monthly Report of Biofuels, Fuels from Non-Biogenic Wastes, Fuel Oxygenates, Isooctane, and Isooctene. Renewable Diesel Fuel and Other Biofuels production capacity is intended to measure estimated gallons of renewable diesel fuel, renewable heating oil, renewable jet fuel, renewable naphtha and gasoline, and other biofuels (excluding fuel ethanol and biodiesel) and biointermediates that a plant is capable of producing over a period of one year (365 consecutive days) starting on the first day of each report month.Production capacity in million gallons per year (MMgal/year).The facility location data represent the approximate location based on research of publicly available information from sources such as Federal agencies, company websites, and satellite images on public websites.
The state of Louisiana had the largest renewable diesel production capacity in the United States. As of January 1, 2024, the state had a renewable diesel production capacity of ***** million gallons per year.
https://www.usa.gov/government-works/https://www.usa.gov/government-works/
https://www.googleapis.com/download/storage/v1/b/kaggle-user-content/o/inbox%2F8734253%2Fa7802f9fbe1ee0095b2940d3b0fdccd9%2Fcrude-oil-banner.png?generation=1714313995249268&alt=media" alt="">
Background: Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. It is a fossil fuel that is refined to produce usable products such as gasoline, diesel, and various forms of petrochemicals. The United States imports crude oil from various countries to supplement its domestic production.
This dataset provides detailed information about U.S. crude oil imports by month for every year from 2009 to 2024. The data includes the country of origin, the U.S. port of entry, the name of the oil company, the type of crude oil, and the volume imported (in thousands of barrels).
The dataset is provided in a CSV format with the following columns:
Column Name | Description |
---|---|
year | The year of the import. |
month | The month of the import. |
originName | The name of the place where the crude oil was exported from. |
originTypeName | The type of location the crude oil was exported from (e.g. country, region, etc.). |
destinationName | The name of the place in the U.S. receiving the crude oil. |
destinationTypeName | The type of destination (e.g., port, refinery). |
gradeName | The grade or type of crude oil imported (e.g., Light Sweet, Heavy Sour). |
quantity | The volume of crude oil imported, measured in thousands of barrels. |
This dataset can be used for various purposes, including: 1. Analyzing U.S. crude oil import patterns: The data can help identify the major countries exporting crude oil to the United States, the most common grades of crude oil imported, and the primary ports of entry. 2. Investigating the impact of crude oil imports on the U.S. economy: By combining this data with other economic indicators, researchers can explore the relationship between crude oil imports and various aspects of the U.S. economy, such as GDP, employment, and inflation. 3. Optimizing supply chain management: Oil companies and refineries can use this data to better understand their supply chains and make informed decisions about sourcing, transportation, and storage of crude oil. 4. Forecasting future trends: By analyzing historical import data, researchers can develop models to forecast future trends in U.S. crude oil imports, which can help inform policy decisions and business strategies. 5. Environmental impact assessment: The data can be used to estimate the environmental impact of crude oil imports, such as the carbon footprint associated with transportation and refining processes.
Overall, this dataset provides a comprehensive overview of U.S. crude oil imports for January 2009, offering valuable insights for researchers, policymakers, and industry professionals interested in the energy sector and its impact on the U.S. economy.
The United States imported some **** million barrels of distillate fuel oil in 2024. Import volumes have notably decreased since the early 2000s as the U.S. has increased domestic petroleum production and reduced demand for product imports.
https://www.ibisworld.com/about/termsofuse/https://www.ibisworld.com/about/termsofuse/
Manufacturing trucks, locomotives and construction equipment coincides with the need for heavy-duty engines. A rise in freight distribution led to the expansion of non-employer enterprises, particularly within the trucking industry, supporting truck manufacturing and boosting engine sales. Fiscal spending until the end of 2022 buoyed consumer spending, aiding recovery from previous economic downturns. Still, rising inflation prompted the Federal Reserve to hike interest rates, increasing borrowing costs. Consumers scaling back on spending exerted pressure on distribution services and reduced demand for engine manufacturing. Additionally, rising fuel prices favored railroads over trucking for freight distribution, and since engine manufacturers generate a much higher portion of their revenue by selling engines to the trucking industry, this pressured engine sales further. Revenue is expected to decline at a CAGR of 1.5% to $36.1 billion through the end of 2024, despite an uptick of 0.2% in 2024. Electrification and fuel-efficiency regulations are introducing competition into a predominantly diesel-driven market. While the adoption of electric vehicles and alternative fuels is still limited, it's starting to affect traditional diesel engine sales, particularly with electric cranes and vehicles used in ports and construction sites. Amid a challenging macroeconomic environment, manufacturers prioritized lucrative segments and used pricing power to pass costs downstream, stabilizing and even expanding their profit margin. Monetary easing is expected to boost consumer sentiment and construction spending, driving a recovery in engine manufacturing. As the value of the US dollar declines, exports are expected to rise, bolstering revenue streams for domestic manufacturers. Simultaneously, heightened scrutiny over vehicle emissions will likely spur innovations and improvements in engine technology. Despite the challenges posed by rising interest in electric and alternative-fueled vehicles, diesel engines are expected to maintain their stronghold in the heavy-duty vehicle segment, particularly in light of current infrastructure limitations for electric alternatives. Industry revenue is set to expand by a CAGR of 1.9% to an estimated $39.7 billion through the end of 2029.
https://www.ibisworld.com/about/termsofuse/https://www.ibisworld.com/about/termsofuse/
Technological advances in directional drilling and hydraulic fracturing have boosted US oil and gas output to record highs, significantly strengthening the country’s role as a primary energy supplier and exporter. This production boom has supported a steady increase in natural gas liquid production and met global supply needs amid international disruptions, such as the sanctions on Russia’s energy exports. Industrial expansion and a surge in construction activity have also driven up demand for diesel and gasoline, while electric power generator sales have remained strong. In this environment, the industry generated $15.8 billion in revenue for 2025, growing by 1.0% over the year. Despite the moderation in headline growth, profit rose 7.9% in 2025 as operators benefited from high utilization and stable, fee-based contracts. The US refined petroleum pipeline industry has also experienced stable but slowing revenue growth over the last five years, with a current five-year revenue CAGR of 2.3%. Several key trends are shaping industry performance in 2025. Domestic energy production remains robust, supported by volatile but generally elevated energy prices and ongoing industrial demand, particularly in plastics, manufacturing and power generation sectors. Near-term demand has remained resilient even as electric vehicle adoption accelerates and policy shifts gradually favor renewable energy. At the same time, pipeline operators are facing cost headwinds from lingering tariff pressures on imported steel and aluminum, materials critical for new pipeline construction and maintenance. Tariffs have pushed up input costs, prompting companies to focus on efficiency gains and technology investments, such as Smart Grid networks, to optimize operations and safeguard margins. Market consolidation continues as larger operators seek scale in a shifting regulatory landscape, while ongoing geopolitical risks and energy price volatility reinforce the sector’s focus on reliability and logistics innovation. The broader economic environment, including expectations of lower interest rates from the Federal Reserve, will likely sustain liquidity and support capital access for critical infrastructure upgrades. Looking forward, the outlook for the refined petroleum pipeline industry will be defined by a slower growth trajectory and a gradually evolving energy mix. Persistent demand for petroleum-based products in key sectors will be balanced against regulatory uncertainty, evolving energy transition policies and more modest expansion in new pipeline capacity as energy prices ease. Advances in automation and digital pipeline management should partially offset the impact of slower volume growth and rising compliance costs. Over the next five years, industry revenue is expected to increase at a CAGR of 1.2%, reaching $16.8 billion by 2030, with profit growth strengthening from 7.9% in 2025 to an estimated 8.5% by 2030, as operators adapt to the evolving market landscape.
The monthly production of renewable diesel in the United States has more than doubled in recent years. In April 2025, the amount of renewable diesel produced in the U.S. reached approximately *** million barrels per day, up from **** million barrels produced in April 2022. It is forecast that figures will increase to **** million barrels per day by September 2025.
Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
United States PPI: Mfg: PC: PF: LF: Diesel Fuel data was reported at 354.445 Jun1985=100 in Apr 2025. This records a decrease from the previous number of 362.376 Jun1985=100 for Mar 2025. United States PPI: Mfg: PC: PF: LF: Diesel Fuel data is updated monthly, averaging 172.500 Jun1985=100 from Jun 1985 (Median) to Apr 2025, with 479 observations. The data reached an all-time high of 833.317 Jun1985=100 in Jun 2022 and a record low of 45.100 Jun1985=100 in Jul 1986. United States PPI: Mfg: PC: PF: LF: Diesel Fuel data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I: Producer Price Index: by Industry: Manufacturing: Petroleum and Coal Products.
Biodiesel Market Size 2024-2028
The biodiesel market size is forecast to increase by USD 16.71 billion at a CAGR of 7.38% between 2023 and 2028.
The market is experiencing significant growth due to the increasing demand for renewable and sustainable energy sources. One of the key drivers is the growing use of algae for biodiesel production, which offers numerous advantages such as high oil yield and reduced greenhouse gas emissions. Soy oil and palm oil are the most commonly used feedstocks due to their availability and cost-effectiveness. Another trend in the market is the utilization of spent bleaching earth as a feedstock for biodiesel production, which not only reduces waste but also lowers production costs. However, the high operating costs of biodiesel production remain a major challenge for market growth. Producers must continuously explore ways to improve efficiency and reduce costs to remain competitive in the market. Overall, the market is expected to witness steady growth in the coming years, driven by increasing environmental awareness and government regulations promoting the use of renewable energy sources.
What will be the Size of the Biodiesel Market During the Forecast Period?
Request Free Sample
The market represents a significant segment of the renewable biofuels industry, driven by the growing demand for environmentally friendly fuels In the transportation sector. With the increasing global population and the subsequent rise in vehicles on the road, there is a pressing need to reduce carbon emissions and dependence on fossil fuels. Biodiesel, derived from vegetable oils such as soybean oil, corn oil, canola oil, and animal tallow, among others, is a viable alternative to petroleum-based diesel fuels. The market is influenced by various factors, including feedstock selection, production capacity, and crude prices.
The market's size and direction are influenced by the adoption rate of biodiesel by Original Equipment Manufacturers (OEMs) and the availability of raw materials. The use of biodiesel in diesel engines reduces greenhouse gas emissions, making it an attractive option for consumers and governments alike. Global biodiesel consumption is expected to grow as more countries shift towards sustainable biofuels to mitigate their carbon footprint.
How is the Biodiesel Industry segmented and which is the largest segment?
The 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
Transport fuel
Power generation
Others
Type
Vegetable oil
Animal fats
Others
Geography
APAC
India
Thailand
North America
US
Europe
South America
Brazil
Middle East and Africa
By Application Insights
The transport fuel segment is estimated to grow significantly during the forecast period. Biodiesel serves as an eco-friendly alternative to traditional diesel fuel for internal combustion engines. In Europe, biodiesel dominates the biofuel market, accounting for over 80% of consumption, driven by its increasing adoption in the automotive sector. In India, the biodiesel industry is poised for growth due to substantial investments in manufacturing, with several states, such as Karnataka, utilizing biodiesel in public transportation to reduce greenhouse gas emissions. Vegetable oils, including soybean oil, corn oil, canola oil, animal fats like poultry fat and tallow, and feedstocks like palm oil and palm kernel oil, serve as raw materials for biodiesel production. The shift towards sustainable biofuels is driven by environmental concerns and increasing crude oil prices. Biodiesel is also used in power generation applications, further expanding its market reach.
Get a glance at the market report of various segments Request Free Sample
The Transport fuel segment was valued at USD 25.90 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 49% 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 size of various regions, Request Free Sample
Biodiesel production in Indonesia and India is experiencing growth due to government subsidies and mandates. In Indonesia, production has increased since 2016, driven by new subsidy calculations and domestic blending requirements. Exports remain marginal. In India, the expansion of biofuel plants and government incentives for oil manufacturing companies will boost biodiesel production during the forecast period. Vegetable oils, such as soybean oil, corn oil, and canola oil animal fats, incl
Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Diesel Retail Price: PADD 5 data was reported at 0.000 % in 12 May 2025. This stayed constant from the previous number of 0.000 % for 05 May 2025. United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Diesel Retail Price: PADD 5 data is updated weekly, averaging 0.000 % from Feb 2020 (Median) to 12 May 2025, with 273 observations. The data reached an all-time high of 6.900 % in 16 May 2022 and a record low of 0.000 % in 12 May 2025. United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Diesel Retail Price: PADD 5 data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Industrial Production.
Attribution-NonCommercial 4.0 (CC BY-NC 4.0)https://creativecommons.org/licenses/by-nc/4.0/
License information was derived automatically
Forecast: Import of Diesel Generating Sets of an Output of 375 kVA and more to the US 2024 - 2028 Discover more data with ReportLinker!
Natural Gas Liquids (NGLs) Market Size 2025-2029
The natural gas liquids (NGLs) market size is forecast to increase by USD 21.5 billion, at a CAGR of 6.7% between 2024 and 2029.
The market is experiencing significant growth, driven by the expanding petrochemical industry and increasing demand for renewable energy. The petrochemical sector's growth is fueled by the rising production of plastics and other chemicals, which require NGLs as feedstocks. Moreover, the shift towards cleaner energy sources is creating new opportunities for NGLs as they are often used as feedstocks in the production of biofuels and other renewable energy applications. However, the market faces challenges as well. Growing environmental concerns are pushing for stricter regulations on the production and use of NGLs due to their carbon footprint. Additionally, the volatility of crude oil prices and the availability of alternative feedstocks can impact the profitability of NGLs.
Companies operating in the NGLs market must navigate these challenges by investing in sustainable production methods, exploring alternative feedstocks, and building strategic partnerships to stay competitive. By capitalizing on the growth opportunities and addressing these challenges effectively, players in the NGLs market can secure a strong market position and drive long-term success.
What will be the Size of the Natural Gas Liquids (NGLs) Market during the forecast period?
Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample
The natural gas liquids (NGL) market is a dynamic and evolving sector, characterized by continuous shifts in supply and demand patterns and applications across various industries. NGLs, including propane, butane, and pentane, are derived from the natural gas value chain through a process called natural gas processing. These liquids find extensive use in various sectors, such as diesel production, hydrogen generation, and synthetic rubber manufacturing. Environmental regulations continue to shape the NGL market, with a focus on reducing greenhouse gas emissions and promoting carbon capture and energy efficiency. Cryogenic separation is a critical process in NGL production, enabling the separation of NGLs from natural gas through low-temperature distillation.
Fuel blending is another significant application of NGLs, with propane and butane used as fuel additives in gasoline and diesel to enhance combustion efficiency and reduce emissions. The ongoing transition towards renewable resources and sustainable development has led to the emergence of bio-based NGLs derived from renewable feedstocks. The NGL market is subject to market volatility due to price fluctuations and supply and demand imbalances. LNG terminals and LNG carriers play a crucial role in facilitating global trade, enabling the transportation of NGLs to markets where demand is high. The circular economy concept is gaining traction in the NGL industry, with a focus on maximizing the value of by-products and minimizing waste.
Fischer-tropsch synthesis is an emerging technology in the NGL market, enabling the conversion of natural gas into liquid hydrocarbons, including jet fuel and diesel. The potential for CO2 sequestration and emissions reduction through the utilization of NGLs in industrial processes and power generation is a significant area of research and development. Overall, the NGL market is a dynamic and evolving sector, with ongoing innovations and regulatory developments shaping its future.
How is this Natural Gas Liquids (NGLs) Industry segmented?
The natural gas liquids (NGLs) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Application
Industrial
Residential
Commercial
Product
Propane
Butane
Pentane
Ethane
Geography
North America
US
Canada
Europe
Norway
Russia
Middle East and Africa
Iran
Qatar
UAE
APAC
Australia
China
Rest of World (ROW)
.
By Application Insights
The industrial segment is estimated to witness significant growth during the forecast period.
NGLs, such as ethane and propane, are vital components in the petrochemical industry, serving as essential feedstocks for the production of chemicals and plastics like ethylene, propylene, butadiene, and synthetic rubber. These building blocks are integral to various products, including plastics, synthetic rubber, detergents, and solvents. Propane and butane are also widely used as heating fuels for residential and industrial applications and as fuel for vehicles in areas with limited natural gas access or as LPG for cooking and heating. In refining o
https://www.ibisworld.com/about/termsofuse/https://www.ibisworld.com/about/termsofuse/
Engine and turbine manufacturers are navigating a complex landscape shaped by shifting trade policies, evolving energy demands and fluctuating input costs. In 2025, the industry is expected to generate $49.4 billion in sales, reflecting a contraction of 7.3% for the year, though the industry has grown at a 1.9% CAGR over the past five years. Recent tariff increases on imported steel and engine components have raised costs for major manufacturers like Caterpillar and Cummins. However, these challenges have also spurred domestic investment and reshoring, with companies adapting through supply chain diversification and long-term contracts with US suppliers. Meanwhile, rising demand for natural gas engines, driven by the shale gas boom and stricter emissions regulations, has prompted a shift in R&D and product offerings, supporting improved profit margin for firms able to manage input costs and capitalize on new market opportunities. Industry structure is increasingly characterized by consolidation and technological advancement. Major players such as Caterpillar and Caterpillar have expanded through acquisitions, mergers and strategic partnerships, resulting in fewer but larger firms dominating key segments like industrial turbines and power generation equipment. This consolidation has enabled greater economies of scale and increased investment in research and development, allowing for innovations in digital platforms, additive manufacturing and hybrid engine solutions. At the same time, lower input costs for materials like steel and nickel have enhanced profitability, enabling companies to reinvest in advanced technologies and workforce development. However, the trend toward fewer, larger enterprises has reduced competition, making it more challenging for smaller firms and new entrants to compete on price or innovation. As automation and digitalization streamline production, the industry is also witnessing a shift in workforce needs, with demand growing for technical and engineering expertise over traditional manufacturing roles. Looking ahead, the outlook for the engine and turbine manufacturing industry is cautiously optimistic, with growth expected to track broader economic trends but remain subject to volatility from commodity prices and trade policy shifts. The industry is projected to achieve a 2.0% CAGR through 2030, reaching $54.5 billion in revenue. Continued investment in gas turbine production, advanced materials and additive manufacturing technologies will be critical for maintaining competitiveness and meeting evolving customer and regulatory demands. Firms that prioritize flexible production systems, supply chain resilience and workforce development will be best positioned to sustain profitability and adapt to both risks and opportunities in a rapidly changing market.
Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Ultra Low Sulfur No.2 Diesel Fuel: Spot Price: New York Harbor data was reported at 0.328 % in 12 May 2025. This stayed constant from the previous number of 0.328 % for 05 May 2025. United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Ultra Low Sulfur No.2 Diesel Fuel: Spot Price: New York Harbor data is updated weekly, averaging 0.000 % from Feb 2020 (Median) to 12 May 2025, with 273 observations. The data reached an all-time high of 18.460 % in 15 Apr 2024 and a record low of 0.000 % in 14 Apr 2025. United States Industrial Production Nowcast: sa: YoY: Contribution: Energy Prices: Ultra Low Sulfur No.2 Diesel Fuel: Spot Price: New York Harbor data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Industrial Production.
https://www.wiseguyreports.com/pages/privacy-policyhttps://www.wiseguyreports.com/pages/privacy-policy
BASE YEAR | 2024 |
HISTORICAL DATA | 2019 - 2024 |
REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
MARKET SIZE 2023 | 7.76(USD Billion) |
MARKET SIZE 2024 | 8.62(USD Billion) |
MARKET SIZE 2032 | 20.0(USD Billion) |
SEGMENTS COVERED | Source, Application, End Use, Production Technology, Regional |
COUNTRIES COVERED | North America, Europe, APAC, South America, MEA |
KEY MARKET DYNAMICS | Growing environmental regulations, Increasing biofuel demand, Advancements in production technologies, Fluctuating crude oil prices, Rising consumer awareness |
MARKET FORECAST UNITS | USD Billion |
KEY COMPANIES PROFILED | Cardiff Energy, Valero Energy Corporation, Sustainable Oils, TotalEnergies, ADM, Marathon Petroleum, Aemetis, Gevo, Renewable Energy Group, Neste, Diamond Green Diesel, Biomass Secure Power, Green Plains Renewable Energy, Cargill, BASF |
MARKET FORECAST PERIOD | 2025 - 2032 |
KEY MARKET OPPORTUNITIES | Increasing demand for sustainable fuels, Government incentives for biofuels production, Technological advancements in production processes, Expanding applications in transportation sector, Rising awareness of environmental impacts |
COMPOUND ANNUAL GROWTH RATE (CAGR) | 11.08% (2025 - 2032) |
Road Transportation Fuel Market Size 2025-2029
The road transportation fuel market size is forecast to increase by USD 308 billion at a CAGR of 6.9% between 2024 and 2029.
The market is experiencing significant growth, driven primarily by the increasing number of automobiles on roads worldwide. This trend is fueled by urbanization, rising disposable income, and improving road infrastructure in developing economies. Another key factor propelling market expansion is the adoption of bio-based and clean fuels, as governments and consumers seek to reduce greenhouse gas emissions and mitigate the environmental impact of traditional fossil fuels. However, market growth faces challenges. Regulatory hurdles impact the adoption of alternative fuels, as governments and regulatory bodies implement stringent standards and certification processes. Additionally, supply chain inconsistencies temper growth potential, as the production and distribution of bio-based and clean fuels require complex logistical networks and significant investment. Simultaneously, the rising demand for fuel supplies to power these automobiles has become a critical concern. To address this challenge, alternative fuel energy solutions such as electric vehicles and renewable fuel sources are gaining popularity.
Fluctuations in global oil and gas prices further complicate market dynamics, as they can significantly impact the cost competitiveness of various fuel types. Companies seeking to capitalize on market opportunities must navigate these challenges effectively, focusing on regulatory compliance, supply chain optimization, and price competitiveness.
What will be the Size of the Road Transportation Fuel Market during the forecast period?
Request Free Sample
The market is experiencing significant dynamics and trends, driven by advancements in fuel efficiency and emissions reduction. Battery range improvement and fuel efficiency standards are pushing automakers to innovate, leading to more fuel-efficient vehicles. Fuel consumption data analysis and fuel performance analysis are crucial for optimizing fleet operations and reducing costs. Fuel blending ratios, fuel additives research, and renewable fuel mandates are shaping the fuel mix, with hydrogen fuel production and biodiesel production gaining traction. Fuel price deregulation and fuel tax reform influence market competition, while fuel infrastructure development and fuel delivery systems ensure reliable supply. Emissions trading and fuel quality control are essential components of the regulatory landscape. These fuels include crude oil derivatives such as gasoline and diesel, as well as alternative fuels like biofuels, compressed natural gas (CNG), aviation turbine fuel (ATF), and synthetic fuels.
Fuel cost management and fleet electrification strategies are key considerations for businesses in the sector. Fuel market intelligence and fuel economy testing provide valuable insights into market trends and consumer preferences. Fuel blending technologies and renewable diesel production are also transforming the industry.
How is this Road Transportation Fuel Industry segmented?
The road transportation fuel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
End-user
Gasoline
Diesel
Biofuels
Natural gas
Vehicle Category
Light-duty vehicles
Heavy-duty vehicles
Distribution Channel
Gas stations
EV charging stations
Fleet fueling
Geography
North America
US
Canada
Europe
France
Germany
Italy
UK
APAC
China
India
Japan
South Korea
Rest of World (ROW)
By End-user Insights
The gasoline segment is estimated to witness significant growth during the forecast period. In the road transportation sector, gasoline serves as the primary fuel for powering internal combustion engines in a range of vehicles, including passenger cars, two-wheelers, and light trucks. To ensure optimal performance and engine protection, gasoline must be free from knocking or premature detonation. Consequently, rigorous fuel testing is essential to maintain the required specifications. Any gasoline failing to meet these standards is returned to the refinery for reprocessing. The demand for gasoline is influenced by the number of passenger vehicles and light trucks in operation, with urbanization and rising disposable income driving their adoption. Alternative fuels, such as diesel, biofuels, hydrogen, and electricity, are gaining traction in the market due to environmental concerns and regulatory pressures. Biofuel blends, such as E10 and B20, are becoming increasingly common in the market. Sustainable aviation fuels, liquefied natural gas, and specialty fuels for off-road ve
The cost of diesel fuel in the United States reached an annual average of 3.76 U.S. dollars per gallon in 2024. This was a decrease compared to the previous year, when diesel sold for an average of 4.21 U.S. dollars per gallon. In 2022, increased economic activity and thus fuel demand combined with supply constraints following the Russia-Ukraine war, which resulted in a notable rise in monthly diesel prices Crude oil prices and their impact on motor fuel prices Motor fuel prices largely mirror major oil benchmarks, such as the OPEC reference basket, WTI, and Brent. As such, the oil glut in 2015 and 2016, which followed years of increased oil production output by the U.S., is largely responsible for the fall in diesel prices seen in those years. The same is true for the 2020 pandemic-induced oil crisis and fall in benchmarks that year. Diesel and gasoline price development The usage of diesel began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly used commercially. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel fuel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines, and as such are often used for large commercial vehicles.