The increasing sales of commercial and passenger vehicles, especially flex-fuel vehicles that allow end users to choose customised biofuel-fossil fuel blends, are expected to drive the consumption of automotive biofuels around the globe.
A report from Frost & Sullivan, Strategic Analysis of the Global Automotive Biofuels Market, finds that the market generated revenues of $94.61 billion in 2013 and estimates this to reach $149.25 billion in 2018.
According to the report, The United States remains the primary producer and consumer of automotive ethanol, followed by Brazil and China. However, higher vehicle fuel efficiency has reduced gasoline consumption in the United States and created an ethanol blend wall, restraining the market from reaching its potential.
"The biodiesel industry is likely to stay strong in North America as well as in Latin America, although Europe will continue to be the primary consumer and producer of biodiesel," said Frost & Sullivan Analyst. "Asia-Pacific will be the fastest-growing market for both automotive ethanol and biodiesel."
auto.economictimes.indiatimes.com»
A report from Frost & Sullivan, Strategic Analysis of the Global Automotive Biofuels Market, finds that the market generated revenues of $94.61 billion in 2013 and estimates this to reach $149.25 billion in 2018.
According to the report, The United States remains the primary producer and consumer of automotive ethanol, followed by Brazil and China. However, higher vehicle fuel efficiency has reduced gasoline consumption in the United States and created an ethanol blend wall, restraining the market from reaching its potential.
"The biodiesel industry is likely to stay strong in North America as well as in Latin America, although Europe will continue to be the primary consumer and producer of biodiesel," said Frost & Sullivan Analyst. "Asia-Pacific will be the fastest-growing market for both automotive ethanol and biodiesel."
auto.economictimes.indiatimes.com»