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Automotive E-Fuel Market Size

Report ID: GMI11514
Published Date: Sep 2024
Report Format: PDF

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Automotive E-Fuel Market Size

The global automotive e-fuel market was valued at USD 2 billion in 2023 and is projected to grow at a CAGR of 33.1% from 2024 to 2032. Strict government regulations catering to carbon emission by automobiles coupled with rising advancement in renewable energy technologies that lead to the e-fuel production is fuelling the market growth. Governments are setting ambitious goals to phase out internal combustion engines (ICEs), promoting the demand for e-fuels as a cleaner alternative. The product leverage existing ICE infrastructure while aligning with long-term decarbonization strategies, thereby driving market growth.

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E-fuels are produced from renewable electricity, typically through electrolysis. As renewable energy capacity grows—particularly in wind and solar—so does the feasibility of e-fuel production. Technological improvements in renewable energy generation and storage make the production of e-fuels more cost-effective, further enhancing their market potential.

Automotive E-Fuel Market Report Attributes
Report Attribute	Details
Base Year:	2023
Automotive E-Fuel Market Size in 2023:	USD 2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	33.1%
2032 Value Projection:	USD 25.9 Billion
Historical Data for:	2021 to 2023
No. of Pages:	100
Tables, Charts & Figures:	12
Segments covered:	Renewable Source, Technology, Product, & Region
Growth Drivers:	Favourable government support and policy initiatives Increasing renewable integration
Pitfalls & Challenges:	High production cost

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of automotive e-fuel was worth over USD 2 billion in 2023 and is projected to grow at a 33.1% CAGR from 2024 to 2032, due to strict government regulations catering to carbon emission by automobiles coupled with rising advancement in renewable energy technologies.

The fischer-tropsch technology segment in the automotive e-fuel market is estimated to grow at over 32.5% CAGR through 2032, driven by strong need for significantly reducing carbon emissions, aligning with global decarbonization goals.

U.S. automotive e-fuel market is projected to cross USD 2.2 billion by 2032, led by increasing investment from both public and private sectors.

Archer Daniels Midland, Arcadia eFuels, Ballard Power Systems, Ceres Power Holding, Clean Fuels Alliance America, Climeworks, ExxonMobil, FuelCell Energy, HIF Global, INFRA Synthetic Fuels, and LanzaJet.