Renewable fuels are produced from renewable resources such as biomass, solar, wind, geothermal, hydropower and so on. The renewable fuels market has been segmented with respect to various end users such as transportation, power, heating & cooling and others. Biomass is biological material that is a great source of renewable fuel and this source is derived from organic matter such as wood, crop waste as well as garbage.
In 2015, new renewable fuel capacity expanded at a comparatively stronger rate to date. Despite strong anticipated generation growth, new products, capacity additions and investment in renewable power are all expected to level off through 2022. Biofuels for transport and renewable energy use for residential heating and cooling end use is all set to slower the growth and persistent policy challenges.
In this report, the market of renewable fuels has been studied specifically for the American region including North America and South America. These regions are further classified into major countries such as U.S., Canada, Mexico, Brazil, Argentina and more. Biomass makes up around 5% of the total energy consumption in the U.S. and also around 12% share of the U.S. renewable energy. The Production of Biofuels rose by almost xx% in 2015, owing to strong demand from developing economies. Moreover, countries such as Brazil and U.S. witnessed increased ethanol consumption owing to higher sugarcane harvest and an equally mitigating corn harvest respectively. Biofuel output in the Americas accounted for xx% for transportation in 2015, in the backdrop of many policy changes.
Furthermore, production of Biofuel is estimated to reach xx billion liters (L) in 2022, while the world ethanol output is projected to reach xx billion L in 2021 with a less optimistic outlook for the U.S. and Brazil.
In North America, renewable fuel market was estimated to be $xx million in 2015 for transportation sector and is also estimated to grow at a CAGR of xx% during the forecast period 2016-2022. High demand from U.S. in transportation industry has boosted the demand for renewable fuels. Pollution reduction goals and a favourable policy environment with ambitious targets support the growth of renewable fuel market.
Competitive landscape for each of the product types is highlighted and market players are profiled with attributes of company overview, financial overview, product portfolio and recent developments. Market shares of the key players for 2015 are provided.
Sample Companies profiled in this report are:
Renewable Energy Group, Inc.
Valero Energy Corporation
Exxon Mobil Corporation