The global e-fuel market size is expected to reach USD 643.80 billion by 2032, according to a new study by Polaris market research. The report "E-Fuel Market Share, Size, Trends, Industry Analysis Report, By Fuel Type (E-Gasoline, E-Diesel, Hydrogen, Methanol, Ethanol, and Others); By State; By Production; By End-User; By Region; Segment Forecast, 2023- 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
E-fuels, commonly known as synthetic fuels, are typically generated by harnessing electrical energy sourced from renewables. They manifest in either liquid or gaseous form and are crafted utilizing CO2, electricity, renewable energy, and water. Noteworthy is the fact that the production of e-fuels is space-efficient and environmentally benign, leaving no detrimental impact on the surroundings.
The Asia-Pacific region is anticipated to witness substantial market expansion in the global e-fuel sector throughout the forecast period. This growth can be attributed to the rising adoption of hydrogen-powered electric vehicles, notably in countries like Japan and China. Japan's well-established e-fuel infrastructure presents promising opportunities for market growth in the region. Similarly, China is experiencing an escalating demand for alternative green energy fuels, with a noticeable uptick in biofuel production. Additionally, South Korea stands out as a pivotal economy in the surging demand for e-fuels, as the government plans to install approximately 500 hydrogen fueling stations by 2030
Ongoing research and development efforts are continuously improving the efficiency and cost-effectiveness of e-fuel production processes. As economies of scale are realized, the price of e-fuels is projected to become increasingly competitive with traditional fossil fuels.
However, lack of public awareness about e-fuels is likely to hinder market growth. Nevertheless, key private players like Audi and Hyundai are vigorously involved in creating vehicles powered by e-fuels, utilizing resources like hydrogen, gasoline, ethane, and other sustainable alternatives. This strategic move signifies a substantial opportunity for the expanding market.
E-Fuel Market Report Highlights
Ethanol segment accounted for largest market share in 2022 during the projected period, on account of increasing government policies and investments
Liquid segment accounted for largest market share in 2022, which is mainly driven by cost-effectiveness, higher performance, and flexibility
Gas-to-liquid segment is expected to witness highest growth during forecast period, mainly due to better fuel efficiency, and low operating costs
Automotive segment held the significant market revenue share in 2022
Europe region dominated the market with majority share in 2022, owing to exponential growth in the technology and rising R&D investments across emerging economies
The global key market players include: Norsk e-Fuel AS, Prometheus Fuels, Siemens Energy AG
Polaris market research has segmented the e-fuel market report based on fuel type, state, production, end-user, and region:
E-Fuel, Fuel Type Outlook (Revenue - USD Billion, 2019 - 2032)
- E-Gasoline
- E-Diesel
- Hydrogen
- Methanol
- Ethanol
- Others
E-Fuel, State Outlook (Revenue - USD Billion, 2019 - 2032)
E-Fuel, Production Outlook (Revenue - USD Billion, 2019 - 2032)
- Power-to-Gas
- Power-to-Liquid
- Gas-to-Liquid
E-Fuel, End-User Outlook (Revenue - USD Billion, 2019 - 2032)
- Automotive
- Industrial
- Marine
- Railway
- Others
E-Fuel, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global E-Fuel Market Insights
- 4.1. E-Fuel - Industry Snapshot
- 4.2. E-Fuel Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Advancements in renewable energy technologies
- 4.2.1.2. Climate Change Mitigation
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Production Costs
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. E-Fuel Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global E-Fuel Market, by Fuel Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 5.3. E-Gasoline
- 5.3.1. Global E-Fuel Market, by E-Gasoline, by Region, 2019-2032 (USD Billion)
- 5.4. E-Diesel
- 5.4.1. Global E-Fuel Market, by E-Diesel, by Region, 2019-2032 (USD Billion)
- 5.5. Hydrogen
- 5.5.1. Global E-Fuel Market, by Hydrogen, by Region, 2019-2032 (USD Billion)
- 5.6. Methanol
- 5.6.1. Global E-Fuel Market, by Methanol, by Region, 2019-2032 (USD Billion)
- 5.7. Ethanol
- 5.7.1. Global E-Fuel Market, by Ethanol, by Region, 2019-2032 (USD Billion)
- 5.8. Others
- 5.8.1. Global E-Fuel Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global E-Fuel Market, by State
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global E-Fuel Market, by State, 2019-2032 (USD Billion)
- 6.3. Liquid
- 6.3.1. Global E-Fuel Market, by Liquid, by Region, 2019-2032 (USD Billion)
- 6.4. Gas
- 6.4.1. Global E-Fuel Market, by Gas, by Region, 2019-2032 (USD Billion)
7. Global E-Fuel Market, by End-User
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 7.3. Automotive
- 7.3.1. Global E-Fuel Market, by Automotive, by Region, 2019-2032 (USD Billion)
- 7.4. Industrial
- 7.4.1. Global E-Fuel Market, by Industrial, by Region, 2019-2032 (USD Billion)
- 7.5. Marine
- 7.5.1. Global E-Fuel Market, by Marine, by Region, 2019-2032 (USD Billion)
- 7.6. Railway
- 7.6.1. Global E-Fuel Market, by Railway, by Region, 2019-2032 (USD Billion)
- 7.7. Others
- 7.7.1. Global E-Fuel Market, by Others, by Region, 2019-2032 (USD Billion)
8. Global E-Fuel Market, by Production
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 8.3. Power-to-Gas
- 8.3.1. Global E-Fuel Market, by Power-to-Gas, by Region, 2019-2032 (USD Billion)
- 8.4. Power-to-Liquid
- 8.4.1. Global E-Fuel Market, by Power-to-Liquid, by Region, 2019-2032 (USD Billion)
- 8.5. Gas-to-Liquid
- 8.5.1. Global E-Fuel Market, by Gas-to-Liquid, by Region, 2019-2032 (USD Billion)
9. Global E-Fuel Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. E-Fuel Market Assessment, By Geography, 2019-2032 (USD Billion)
- 9.3. E-Fuel Market - North America
- 9.3.1. North America: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.3.2. North America: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.3.3. North America: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.3.4. North America: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.3.5. E-Fuel Market - U.S.
- 9.3.5.1. U.S.: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.3.5.2. U.S.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.3.5.3. U.S.: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.3.5.4. U.S.: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.3.6. E-Fuel Market - Canada
- 9.3.6.1. Canada: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.3.6.2. Canada: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.3.6.3. Canada: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.3.6.4. Canada: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4. E-Fuel Market - Europe
- 9.4.1. Europe: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.2. Europe: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.3. Europe: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.4. Europe: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.5. E-Fuel Market - UK
- 9.4.5.1. UK: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.5.2. UK: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.5.3. UK: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.5.4. UK: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.6. E-Fuel Market - France
- 9.4.6.1. France: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.6.2. France: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.6.3. France: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.6.4. France: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.7. E-Fuel Market - Germany
- 9.4.7.1. Germany: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.7.2. Germany: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.7.3. Germany: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.7.4. Germany: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.8. E-Fuel Market - Italy
- 9.4.8.1. Italy: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.8.2. Italy: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.8.3. Italy: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.8.4. Italy: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.9. E-Fuel Market - Spain
- 9.4.9.1. Spain: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.9.2. Spain: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.9.3. Spain: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.9.4. Spain: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.10. E-Fuel Market - Netherlands
- 9.4.10.1. Netherlands: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.10.2. Netherlands: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.10.3. Netherlands: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.10.4. Netherlands: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.4.11. E-Fuel Market - Russia
- 9.4.11.1. Russia: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.4.11.2. Russia.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.4.11.3. Russia: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.4.11.4. Russia: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5. E-Fuel Market - Asia Pacific
- 9.5.1. Asia Pacific: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.2. Asia Pacific: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.3. Asia Pacific: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.4. Asia Pacific: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5.5. E-Fuel Market - China
- 9.5.5.1. China: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.5.2. China.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.5.3. China: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.5.4. China: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5.6. E-Fuel Market - India
- 9.5.6.1. India: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.6.2. India.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.6.3. India: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.6.4. India: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5.7. E-Fuel Market - Japan
- 9.5.7.1. Japan: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.7.2. Japan.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.7.3. Japan: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.7.4. Japan: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5.8. E-Fuel Market - Malaysia
- 9.5.8.1. Malaysia: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.8.2. Malaysia.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.8.3. Malaysia: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.8.4. Malaysia: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5.9. E-Fuel Market - Indonesia
- 9.5.9.1. Indonesia: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.9.2. Indonesia.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.9.3. Indonesia: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.9.4. Indonesia: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.5.10. E-Fuel Market - South Korea
- 9.5.10.1. South Korea: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.5.10.2. South Korea.: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.5.10.3. South Korea: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.5.10.4. South Korea: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.6. E-Fuel Market - Middle East & Africa
- 9.6.1. Middle East & Africa: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.6.2. Middle East & Africa: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.6.3. Middle East & Africa: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.6.4. Middle East & Africa: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.6.5. E-Fuel Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.6.5.2. Saudi Arabia: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.6.5.3. Saudi Arabia: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.6.5.4. Saudi Arabia: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.6.6. E-Fuel Market - South Africa
- 9.6.6.1. South Africa: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.6.6.2. South Africa: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.6.6.3. South Africa: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.6.6.4. South Africa: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.6.7. E-Fuel Market - Israel
- 9.6.7.1. Israel: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.6.7.2. Israel: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.6.7.3. Israel: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.6.7.4. Israel: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.6.8. E-Fuel Market - UAE
- 9.6.8.1. UAE: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.6.8.2. UAE: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.6.8.3. UAE: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.6.8.4. UAE: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.7. E-Fuel Market - Latin America
- 9.7.1. Latin America: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.7.2. Latin America: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.7.3. Latin America: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.7.4. Latin America: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.7.5. E-Fuel Market - Mexico
- 9.7.5.1. Mexico: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.7.5.2. Mexico: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.7.5.3. Mexico: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.7.5.4. Mexico: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.7.6. E-Fuel Market - Brazil
- 9.7.6.1. Brazil: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.7.6.2. Brazil: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.7.6.3. Brazil: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.7.6.4. Brazil: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
- 9.7.7. E-Fuel Market - Argentina
- 9.7.7.1. Argentina: E-Fuel Market, by Fuel Type, 2019-2032 (USD Billion)
- 9.7.7.2. Argentina: E-Fuel Market, by Production, 2019-2032 (USD Billion)
- 9.7.7.3. Argentina: E-Fuel Market, by State, 2019-2032 (USD Billion)
- 9.7.7.4. Argentina: E-Fuel Market, by End-User, 2019-2032 (USD Billion)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. Carbon Clean Solutions
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. Climeworks
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. CRI Catalyst Company
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. E-Fuel Corporation
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. Electrochaea
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. Global Thermostat
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Greyrock
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. INERATEC
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. LanzaTech
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Liquid Wind
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. Norsk e-Fuel AS
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
- 11.12. Prometheus Fuels
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development
- 11.13. Siemens Energy AG
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Benchmarking
- 11.13.4. Recent Development
- 11.14. Sunfire
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Benchmarking
- 11.14.4. Recent Development
- 11.15. Velocys
- 11.15.1. Company Overview
- 11.15.2. Financial Performance
- 11.15.3. Product Benchmarking
- 11.15.4. Recent Development