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During the projection period (2023-2030), the global market for railway-based biofuels is expected to expand from its 2022 valuation of USD 170,3 bn at a CAGR of 6.6% from USD 171.05 bn.
Locomotives that run on biofuels derived from railroad waste can cut carbon emissions while also being powered by a sustainable energy source. Plant and animal matter, such as corn, sugarcane, soybeans, and algae, are used to create biofuels. Fermentation and distillation are two of the methods used to transform these ingredients into fuel. Since biofuels produce less carbon dioxide than conventional fossil fuels, their use in rail transportation can contribute to a reduction in global warming gas emissions. In addition to helping the economy, biofuels help lessen our reliance on foreign energy while simultaneously bolstering domestic farming. Some people have doubts about the long-term viability of biofuels because their production can threaten food supplies and lead to forest clearance. Demand for renewable energy sources and government incentives to cut carbon emissions drove the principal markets for railway-based biofuels in North America to be the United States and Canada. The Renewable Fuel Standard program in the United States mandated a minimum volume of renewable fuels to be used in transportation, therefore it was predicted that the use of biofuels in the railway industry would increase in the future years. The percentage of the market held by biofuels derived from railroads is low but increasing in the Asia-Pacific area. In order to lessen their reliance on fossil fuels and advance their climate change objectives, countries like India and China were funding research and development of biofuels. It was also anticipated that increased rail service in the area would open up fresh markets for local biofuel manufacturers. The International Maritime Organization (IMO) and the International Civil Aviation Organization (ICAO) have established safety laws and requirements for biofuels in general. To ensure the safe use of biofuels, these rules address matters such as transport, storage, handling, and labeling. In addition, some nations have implemented their own regulations concerning the security of biofuels in rail transit. Biofuels used in land, rail, and sea transport must meet sustainability, quality, and safety standards established by the European Union, for instance.
Categorization by Form
Biodiesel and bioethanol represent two major submarkets within the biofuels industry. Because of its lower emissions and greater compatibility with existing diesel engines, biodiesel has cornered the global market. Due to its efficient combustion features and its capacity to minimize greenhouse gas emissions, biodiesel has found widespread application in locomotives and rolling stock, and it is projected to continue dominating the market.
The capacity of bioethanol to reduce emissions of carbon monoxide, nitrogen oxide, and other pollutants has led analysts to predict that it will expand at the quickest CAGR among all segments. As more work is done to expand bioethanol technology and as governments throughout the world put stronger rules on emissions from transportation, it is projected that bioethanol's popularity will continue to rise.
Evaluation Through Use
Locomotives and rolling stock are two examples of how the market might be broken down by its end use. There had a worldwide monopoly of locomotives. Locomotives are a bigger part of the problem because of how much energy they consume and how much pollution they add to the atmosphere. Because of their similar combustion qualities and mechanical compatibility with diesel engines, biofuels like biodiesel are increasingly being employed as replacements for conventional diesel fuel in locomotives.
The industry forecasts the highest CAGR for rolling stock. The capacity of biofuels like bioethanol to reduce emissions and improve air quality has led to their increased use in passenger-carrying vehicles like trains and trams. Demand for biofuels in rolling stock is also likely to rise as more governments and organizations prioritize carbon footprint reduction.
Drivers
The need for alternative energy sources is growing.
The rising need for renewable energy sources to curb carbon emissions and achieve climate change objectives is one factor propelling the expansion of railway-based biofuels. Biofuels provide a practical alternative to fossil fuels in the transportation sector, which is why governments and businesses all over the world are establishing goals to minimize their carbon footprint. One of the main motivating factors for using biofuels in railroads is the positive impact they can have on reducing emissions of greenhouse gases. Further, biofuels can boost the economy by helping domestic farmers and cutting down on imports of foreign oil.
Restraints
Their ability to be produced indefinitely
The sustainability of producing biofuels that can be used in trains is a factor slowing their expansion. The use of feedstocks for biofuels may cause food shortages and price hikes since it may compete with food production. Deforestation, which has consequences for both biodiversity and the ecosystem, can be a side effect of biofuel production. Thus, environmentally and socially safe manufacturing methods are essential for biofuels to effectively aid in the mitigation of greenhouse gas emissions.
Major Tendencies in the Market
The increasing importance of sustainability and carbon reduction is a key market trend in the railway-based biofuels business. Greenhouse gas emission reduction and the promotion of sustainable practices are receiving increased attention from governments, businesses, and consumers, and are likely to receive even more attention in the years to come. Furthermore, the introduction of modern technology, such as second-generation biofuels, is enhancing the efficiency and sustainability of biofuel production, while the expansion of railway infrastructure in emerging nations is offering new opportunities for biofuel producers. Last but not least, partnerships and collaborations between government agencies, academic institutions, and industry participants are facilitating innovation and accelerating the transition to biofuels in the rail sector.
Report Coverage
Global Railway Based Biofuels research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Railway Based Biofuels report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Railway Based Biofuels competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Railway Based Biofuels market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Railway Based Biofuels market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Railway Based Biofuels market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Archer Daniels Midland Company (US), BP plc (UK), Chevron Corporation (US), Cargill, Incorporated (US), Eastman Chemical Company (US), Enerkem (Canada), Groupe Renault (France), Honeywell International Inc. (US), Indian Oil Corporation Ltd (India), Neste Oyj (Finland), PetroChina Company Limited (China), Renewable Energy Group, Inc. (US), Royal Dutch Shell plc (Netherlands), Sasol Limited (South Africa), SG Preston Company (US), Solazyme, Inc. (US), Suncor Energy Inc. (Canada), Syngenta AG (Switzerland), TotalEnergies (France), Valero Energy Corporation (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Railway Based Biofuels market based on the below-mentioned segments:
Global Railway Based Biofuels Market, By Type
Biodiesel
Bioethanol
Global Railway Based Biofuels market, By Application
Locomotives
Rolling Stock
Global Railway Based Biofuels market, Regional Analysis
Locomotives that run on biofuels derived from railroad waste can cut carbon emissions while also being powered by a sustainable energy source. Plant and animal matter, such as corn, sugarcane, soybeans, and algae, are used to create biofuels. Fermentation and distillation are two of the methods used to transform these ingredients into fuel. Since biofuels produce less carbon dioxide than conventional fossil fuels, their use in rail transportation can contribute to a reduction in global warming gas emissions. In addition to helping the economy, biofuels help lessen our reliance on foreign energy while simultaneously bolstering domestic farming. Some people have doubts about the long-term viability of biofuels because their production can threaten food supplies and lead to forest clearance. Demand for renewable energy sources and government incentives to cut carbon emissions drove the principal markets for railway-based biofuels in North America to be the United States and Canada. The Renewable Fuel Standard program in the United States mandated a minimum volume of renewable fuels to be used in transportation, therefore it was predicted that the use of biofuels in the railway industry would increase in the future years. The percentage of the market held by biofuels derived from railroads is low but increasing in the Asia-Pacific area. In order to lessen their reliance on fossil fuels and advance their climate change objectives, countries like India and China were funding research and development of biofuels. It was also anticipated that increased rail service in the area would open up fresh markets for local biofuel manufacturers. The International Maritime Organization (IMO) and the International Civil Aviation Organization (ICAO) have established safety laws and requirements for biofuels in general. To ensure the safe use of biofuels, these rules address matters such as transport, storage, handling, and labeling. In addition, some nations have implemented their own regulations concerning the security of biofuels in rail transit. Biofuels used in land, rail, and sea transport must meet sustainability, quality, and safety standards established by the European Union, for instance.
Categorization by Form
Biodiesel and bioethanol represent two major submarkets within the biofuels industry. Because of its lower emissions and greater compatibility with existing diesel engines, biodiesel has cornered the global market. Due to its efficient combustion features and its capacity to minimize greenhouse gas emissions, biodiesel has found widespread application in locomotives and rolling stock, and it is projected to continue dominating the market.
The capacity of bioethanol to reduce emissions of carbon monoxide, nitrogen oxide, and other pollutants has led analysts to predict that it will expand at the quickest CAGR among all segments. As more work is done to expand bioethanol technology and as governments throughout the world put stronger rules on emissions from transportation, it is projected that bioethanol's popularity will continue to rise.
Evaluation Through Use
Locomotives and rolling stock are two examples of how the market might be broken down by its end use. There had a worldwide monopoly of locomotives. Locomotives are a bigger part of the problem because of how much energy they consume and how much pollution they add to the atmosphere. Because of their similar combustion qualities and mechanical compatibility with diesel engines, biofuels like biodiesel are increasingly being employed as replacements for conventional diesel fuel in locomotives.
The industry forecasts the highest CAGR for rolling stock. The capacity of biofuels like bioethanol to reduce emissions and improve air quality has led to their increased use in passenger-carrying vehicles like trains and trams. Demand for biofuels in rolling stock is also likely to rise as more governments and organizations prioritize carbon footprint reduction.
Drivers
The need for alternative energy sources is growing.
The rising need for renewable energy sources to curb carbon emissions and achieve climate change objectives is one factor propelling the expansion of railway-based biofuels. Biofuels provide a practical alternative to fossil fuels in the transportation sector, which is why governments and businesses all over the world are establishing goals to minimize their carbon footprint. One of the main motivating factors for using biofuels in railroads is the positive impact they can have on reducing emissions of greenhouse gases. Further, biofuels can boost the economy by helping domestic farmers and cutting down on imports of foreign oil.
Restraints
Their ability to be produced indefinitely
The sustainability of producing biofuels that can be used in trains is a factor slowing their expansion. The use of feedstocks for biofuels may cause food shortages and price hikes since it may compete with food production. Deforestation, which has consequences for both biodiversity and the ecosystem, can be a side effect of biofuel production. Thus, environmentally and socially safe manufacturing methods are essential for biofuels to effectively aid in the mitigation of greenhouse gas emissions.
Major Tendencies in the Market
The increasing importance of sustainability and carbon reduction is a key market trend in the railway-based biofuels business. Greenhouse gas emission reduction and the promotion of sustainable practices are receiving increased attention from governments, businesses, and consumers, and are likely to receive even more attention in the years to come. Furthermore, the introduction of modern technology, such as second-generation biofuels, is enhancing the efficiency and sustainability of biofuel production, while the expansion of railway infrastructure in emerging nations is offering new opportunities for biofuel producers. Last but not least, partnerships and collaborations between government agencies, academic institutions, and industry participants are facilitating innovation and accelerating the transition to biofuels in the rail sector.
Report Coverage
Global Railway Based Biofuels research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Railway Based Biofuels report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Railway Based Biofuels competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Railway Based Biofuels market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Archer Daniels Midland Company (US), BP plc (UK), Chevron Corporation (US), Cargill, Incorporated (US), Eastman Chemical Company (US), Enerkem (Canada), Groupe Renault (France), Honeywell International Inc. (US), Indian Oil Corporation Ltd (India), Neste Oyj (Finland), PetroChina Company Limited (China), Renewable Energy Group, Inc. (US), Royal Dutch Shell plc (Netherlands), Sasol Limited (South Africa), SG Preston Company (US), Solazyme, Inc. (US), Suncor Energy Inc. (Canada), Syngenta AG (Switzerland), TotalEnergies (France), Valero Energy Corporation (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Railway Based Biofuels Market from 2021 to 2030.
- Market Forecast for Railway Based Biofuels Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Railway Based Biofuels competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Railway Based Biofuels
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Railway Based Biofuels market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Railway Based Biofuels market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Archer Daniels Midland Company (US), BP plc (UK), Chevron Corporation (US), Cargill, Incorporated (US), Eastman Chemical Company (US), Enerkem (Canada), Groupe Renault (France), Honeywell International Inc. (US), Indian Oil Corporation Ltd (India), Neste Oyj (Finland), PetroChina Company Limited (China), Renewable Energy Group, Inc. (US), Royal Dutch Shell plc (Netherlands), Sasol Limited (South Africa), SG Preston Company (US), Solazyme, Inc. (US), Suncor Energy Inc. (Canada), Syngenta AG (Switzerland), TotalEnergies (France), Valero Energy Corporation (US)
Primary Target Market
- Market Players of Railway Based Biofuels
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Railway Based Biofuels market based on the below-mentioned segments:
Global Railway Based Biofuels Market, By Type
Biodiesel
Bioethanol
Global Railway Based Biofuels market, By Application
Locomotives
Rolling Stock
Global Railway Based Biofuels market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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