LONDON--(BUSINESS WIRE)--The global diesel bottled (aftermarket) fuel additives market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global diesel bottled fuel additives market size is the rising vehicle population leading to high consumption of diesel bottled fuel additives. The number of vehicles on the road is increasing significantly across the world owing to the rising demand for passenger cars from middle-class income group. The increasing sales of vehicles will directly impact the consumption of diesel bottled fuel additives as these additives are widely used with diesel fuels. Thus, the increasing vehicle population will boost the diesel bottled fuel additives market growth during the forecast period.
As per Technavio, the rising demand for ultra-low-sulfur diesel will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global diesel bottled fuel additives market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Diesel Bottled Fuel Additives Market: Rising Demand for Ultra-Low-Sulfur Diesel
The demand for ultra-low-sulfur diesel is increasing significantly as it decreases harmful emissions from diesel combustion. Moreover, the adoption of ultra-low-sulfur diesel can also reduce the emission of exhaust gases comprising particulate matter and ozone precursors to near-zero levels. Furthermore, the use of ultra-low-sulfur diesel helps in improving combustion efficiency and quick starting engine in cold weather conditions. Diesel bottled fuel additives are added to ultra-low-sulfur diesel to prevent undesirable engine wear and improve the performance of vehicles. Thus, the rising demand for ultra-low-sulfur diesel will fuel the growth of the diesel bottled fuel additives market value during the forecast period.
“Apart from the rising demand for ultra-low-sulfur diesel, other factors such as the growing fuel economy standards for passenger cars and light trucks, and new developments in fuel additives will have a significant impact on the diesel bottled fuel additives market growth during the forecast period,” says a senior analyst at Technavio.
Global Diesel Bottled Fuel Additives Market: Segmentation Analysis
This market research report segments the global diesel bottled fuel additives market by type (cetane improver, corrosion inhibitor, cold flow improver, anti-icing, combustion improver, deposit control, antioxidants, and others), end-user (automotive, oil and gas, and others) and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the diesel bottled fuel additives market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the diesel bottled fuel additives market in North America can be attributed to factors such as the stringent regulations and policies pertaining to emissions, and the increasing number of automobile and industrial production in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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