The latest market report published by Credence Research, Inc. “Kerosene (Jet A-1) Market, By Geography- Growth, Future Prospects and Competitive Analysis, 2016 – 2030,” the global kerosene (Jet A-1) market was valued at US$ 53.1 Bn in 2016, and is expected to each US$ 102.8 Bn by 2030, expanding at a CAGR of 4.8% from 2016 to 2030.
Browse the full Kerosene (Jet A-1) Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2030 report at http://www.credenceresearch.com/report/kerosene-jet-a-1-market
Global kerosene (Jet A-1) market is projected to witness significant growth over the forecast period. Growth in disposable income along with shift in consumer preference upsurge the number of air passengers, thus fueling the demand for aviation services which in turn is projected to drive the demand for kerosene (Jet A-1) over the forecast period. Further, aviation industry has also witness high growth in low cost carrier segment. Growing international trade especially for perishable goods across the globe fueling the need for air carrier which in turn is driving the demand for jet fuel or kerosene (Jet A-1).
However, volatile oil prices of crude oil expected to restrain the growth of global Kerosene (Jet A-1) market during the forecast period (2016-2030).
By Geography, North America was the most dominant region in 2015 and anticipated to continue its dominance over the forecast period. The segment is projected to witness stable growth during the forecast period. Followed by it, Asia Pacific is expected to be the fastest growing region in the global kerosene (Jet A-1) market. Rapid growth in disposable income along with shift in consumer preferences is fuel the demand for the aviation services which in turn anticipated to fuel the demand for kerosene (Jet A-1) in the region over the forecast period (2016-2030).
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Considering the competition, the global kerosene (Jet A-1) market is expected to witness a significant rise in investment in capacity expansion for the production and supply of Kerosene (Jet A-1). Further, market has witnessed strategic mergers and collaborations among Kerosene (Jet A-1) regional and global players. Such growth strategies are focused on increasing their market penetration in key consuming economies.