Europe Hydrotreated Vegetable Oil Market Research Report: Forecast (2024-2030)
The Europe Hydrotreated Vegetable Oil Market is estimated to grow at a CAGR of around 13.2% during the forecast period, i.e., 2024-30. The factors attributing to the growth in the demand for the HVO are the increasing adoption of these fuel types in several sectors like transportation, aviation & others and rising government initiatives intending to encourage the adoption of sustainable fuels rather than conventional diesel & petrol.
Several end-user industries, such as chemical, automotive, and others in European countries like Italy, Germany, etc., use heavy & medium commercial vehicles for their logistics & transportation purposes to carry raw materials & packaged goods within the country. As a result, fuel consumption is relatively higher for these vehicles, causing carbon emissions. Hence, the companies have laid down sustainability goals & are aligning their efforts to achieve carbon targets and increasingly adopting sustainable fuels, driving the European Hydrotreated Vegetable Oil Market.
Request for a sample of this research report at (Use Corporate Mail Id for Quick Response): https://www.marknteladvisors.com/query/request-sample/europe-hydrotreated-vegetable-oil-market.html
Market Dynamics
Europe Hydrotreated Vegetable Oil Market Opportunity – Surging Usage of HVO for Power Generation to Uplift Market Growth
European countries like the UK, Italy, France, Germany, and others depend upon the import of fossil fuels from other countries like Norway, the Netherlands, etc., due to the maturing oil fields, imposition of a ban on mining, and limited oil & gas reserves. These countries seek to import fossil fuels in large quantities for various purposes like power generation, transportation, etc. According to the European Commission, in 2022, the share of petroleum oil & natural gas in the overall commodities imports increased to 11% & 10.8%.
However, the rising geopolitical tension between countries like Russia & Ukraine led to uncertainty in trade activities between Russia & European countries & generated an energy crisis in the European countries. Therefore, to mitigate the reliance on the import of fossil fuel, the governments of the country like the UK, France, and others are encouraging the usage of renewable biofuel for power generation rather than conventional fossil fuel.
Moreover, the government is also aligning its efforts to generate electricity using clean energy. Therefore, the demand for hydrotreated vegetable oil would increase in the forthcoming years for power generation purposes.
Leading Companies in Europe Hydrotreated Vegetable Oil Market:
Repsol, Neste, Eni, Cepsa, Preem AB, TotalEnergies, Green Biofuels Limited, Valero, Shell, Watson Fuels, Others
Segmentation of the Industry
The Europe Hydrotreated Vegetable Oil Market is highly fragmented and bifurcates into the following segmentations:
By Type
-Pure HVO
-Co-processed HVO
- The pure segment accounts for the prominent share in the Europe HVO Market owing to the increasing inclination of the end-users towards pure HVO.
By Feedstock
-Rapeseed
-Sunflower
-Soybean
-Palm
-Others (Jatropha, Coconut Oil, etc.)
By Application
-Transportation
–Road Transport
–Aviation
–Others (Agricultural, Railways etc.)
-Power Generation
Browse complete Europe Hydrotreated Vegetable Oil Market report details with table of contents and list of figures click here – https://www.marknteladvisors.com/research-library/europe-hydrotreated-vegetable-oil-market.html
Regional Landscape
On the geographical front, the Europe Hydrotreated Vegetable Oil Market expands across the following:
By Country
-Germany
-The UK
-France
-Italy
-Spain
-Sweden
-The Netherlands
-Finland
-Rest of Europe
- The production of conventional fossil fuel in the UK has been declining for the past few years owing to the maturing oil fields & strict regulations regarding mining & fossil fuel extraction activities.
About MarkNtel Advisors
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
To find out more, visit MarkNtelAdvisors or follow us on Twitter, LinkedIn and Facebook.
Reach us:
Call: +1 628 895 8081, +91 120 4278433
Email: sales@marknteladvisors.com
Visit to know more: www.marknteladvisors.com
