The size of the global aviation gasoline (Avgas) market was worth USD 2.07 billion in 2023. The global market is anticipated to grow at a CAGR of 6.78% from 2024 to 2032 and be worth USD 3.74 billion by 2032 from USD 2.21 billion in 2024.
Aviation fuel is a type of petroleum-based or kerosene-based fuel that is employed to make operate an airplane. Aviation fuel is of higher quality than the fuels employed in other modes of transport. The fuels employed in aviation reduce the risk of icing or explosion due to high temperatures, which is achieved by incorporating certain additives such as corrosion inhibitors and others. Aviation fuel is employed primarily by most military aircraft and commercial airlines to maximize fuel efficiency and reduce operating costs. The aviation industry is expanding today, escalating competition among jet fuel production in all sectors. Aviation gasoline or aviation gas is primarily aviation fuel that powers the positive ignition internal combustion engine of an aircraft. It has a mix-rich octane number of around 130 which allows it to have high boost pressures. It can be employed without fear of an explosion inside the engine. Also, only the avgas 100LL variety is available for consumption worldwide. This jet fuel is widely adopted in older aircraft and small-size piston engines. Aviation fuels are petroleum-derived fuels that are employed to power aircraft powered by gas turbine engines. Various types of aviation fuels are widely employed to power aircraft in commercial and military applications throughout the world. The increase in air passengers worldwide, especially in emerging economies, and fluctuations in crude oil prices underpin the development trajectories of the aviation fuel market. The escalating number of air passengers has driven the consumption of aviation fuels in developing regions. The growing focus on reducing the carbon footprint of the entire transportation industry is driving demand for biofuels.
Aviation fuel is a kind of fuel that is employed mainly to power an aircraft. The fuel is based on petroleum and is of higher quality than ordinary fuels employed in rail, road, or other transportation. The use of jet fuel also contributes to improving the overall cost of operations. In recent years, the aviation sector has seen tremendous expansion. Competition in the segment is very high that in turn results in increased competition between suppliers of aviation fuel for military and commercial purposes.
According to the General Aviation Manufacturers Association, around 1,302 piston aircraft were sold in 2018, up from 1,218 in 2017. The escalating call for small piston aircraft for various sporting activities such as aerobatics, air racing, gliding, and other activities is predicted to stimulate the call for aviation gasoline in the coming years. In addition, the growing call for commercial aviation aircraft by the surging number of high-net-worth individuals is likely to contribute to the expansion of the global Aviation Gasoline (Avgas) Market in the coming years. New air routes and airports are estimated to accelerate the developments in the global Aviation Gasoline (Avgas) Market.
Volatility in crude oil prices, coupled with the arrival of hybrid, electric, and more electric jets, could hamper the market call for aviation fuel.
However, industry players are continually investing in green and bio-based fuel solutions, which should normalize impacts and prove to be a reliable alternative to traditional fossil fuels.
Additionally, the complexities associated with crude oil refining and extraction and geopolitical issues can further contribute to price increases and affect market value.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
6.78% |
Segments Covered |
By Application, Fuel Type, Additive Type, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, Indian Oil Corporation Limited, Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, Oman Oil Company SAOC, and Others. |
The size of the Aviation Gasoline (Avgas) Market in Asia-Pacific is estimated to experience substantial expansion from 2024 to 2032, driven by the proliferation of the tourism industry in the region. In addition, improved living standards and escalated disposable income further increase regional expansion. The region's aircraft are entering into long-term and strategic agreements with aviation fuel companies to ensure a continuous supply of fuel for their aircraft. North America has a significant share of market revenue. This is due to the increase in aviation production and deliveries in the region. In addition, aircraft manufacturers are experiencing notable delays in deliveries that are anticipated to influence market expansion opportunities. North America was the largest shareholder in terms of revenue in 2018, due to the presence of key players in developing countries and the increase in the number of air travelers. However, Asia-Pacific is supposed to grow at a higher CAGR, due to escalated government investment, the introduction of new air routes, escalated fleet size, and a high call for emerging economies in the region.
Companies playing a prominent role in the global aviation gasoline (Avgas) market include Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, Indian Oil Corporation Limited, Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, Oman Oil Company SAOC, and Others.
By Application
By Fuel Type
By Additive Type
By Region
Frequently Asked Questions
The Global Aviation Gasoline (Avgas) Market is expected to grow with a CAGR of 6.78% between 2024-2032
The Global Aviation Gasoline (Avgas) Market size is expected to reach a revised size of USD 3.74 billion by 2032
Aquagen Technologies, Aquamarine Power ltd, and Atlantis Resources Ltd are the three Aviation Gasoline (Avgas) Market key players.
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