Global Biofuels Market to Reach Production Capacity of 50921.4 Million Gallons by 2019 Due to Favorable Regulatory Norms
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Transparency Market Research has announced the release of a report titled “Global Biofuels Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019.”
Growing at CAGR of 9.6%, the global biofuels market, which in 2012 held a production capacity of 24326.7 million gallons, is projected to have total capacity of 50921.4 million gallons by the end of the forecast period.
Heightened concerns about energy security, rapid economic development, and strict environmental regulations promoting greater consumption of biofuels drive the global biofuels market. Global biofuels market at present is characterized by the development of sustainable biofuels, which in turn is expected to fuel the growth of this market in the years to come.
The global biofuels market is segmented on the basis of type of fuel, form of fuel, and geography. Based on fuel type, this market is categorized into bioethanol and biodiesel. Biofuels are available in three different forms, namely gas, liquid, and solid.
Geographically, the global biofuels market is classified into North America, Asia Pacific, Europe, and Rest of the World. Owing to stringent regulatory norms and widespread awareness, North America holds the highest share in the overall market for biofuels. The biofuels market in developing economies such as Russia, India, and China is expanding at a steady rate and is anticipated to expand substantially in the forecasting horizon.
Rising importance of the market despite sluggish investment levels can be attributed to their established nature in the alternate energy scenario. Obstacles in the development, retailing, and distribution of biofuels will hamper the growth of this market in the years to come. DSM, Aemetis Inc., and Solazyme Inc. are the key companies in the biofuels market.
Transparency Market Research (TMR)
