Biofuels Demand for Road Transportation Will Surpass 51 Billion Gallons Annually by 2022, Forecasts Navigant Research
Advanced and drop-in biofuels offer the largest growth opportunities, report concludes.
February 10, 2014 – Boulder, CO – In the last 10 years, biofuels have become a promising solution to solving the energy security, environmental, and economic challenges associated with petroleum dependency. The global biofuels industry is now on the verge of entering a new phase of development focused on advanced and drop-in biofuels. Click to tweet: According to a new report from Navigant Research, global demand for biofuels for road transportation will grow from 32.4 billion gallons in 2013 to 51.1 billion by 2022.
“Developed nations in Europe and North America are beginning to see declines in liquid fuels consumption from the road transportation sector, due to increased vehicle fuel efficiency and growing interest in alternative fuel vehicles,” says Scott Shepard, research analyst with Navigant Research. “The continued growth of conventional biofuels relies either on policies increasing biofuel blend requirements, or on growing vehicle markets in the Asia Pacific region. Meanwhile, advances in biofuels derived from non-food feedstocks, and biofuels that require no changes to infrastructure or vehicles, promise to significantly alter the petroleum industry landscape.”
Petroleum consumption by the road transportation sector in the United States is expected to peak in 2016, according to the report, as biofuels grow to account for 8.7 percent of demand. Major stakeholders, including the airline industry and the U.S. Department of Defense, stand to benefit greatly from advances in drop-in biofuels and will continue to spur development of the technology, driving the price per gallon down to competitive levels.
The report, “Biofuels for Transportation Markets”, analyzes the emerging markets and future growth opportunities for biofuels, including ethanol, biodiesel, and drop-in biofuels. The report provides an analysis of the major demand drivers and market challenges related to biofuels technologies. Global market forecasts of vehicle sales and vehicles in use, along with liquid fuels consumption, station installations, and revenue extend through 2022. The report also examines the key technologies associated with biofuels, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found atwww.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Biofuels for Transportation Markets,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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