The global aviation gasoline market size was valued at $12.5 billion in 2021, and projected to reach $18.8 billion by 2031, with a CAGR of 4.2% from 2022 to 2031.
Aviation gasoline is generally used to power piston engine aircraft. At typical operating temperatures, it is highly flammable and is primarily determined by its octane rating. Avgas was used in many grade, however due to decline in the demand, it has been updated to a single grade, Avgas 100/130. The growth in demand for piston engine aircraft for training, sports, and aerial application has a positive impact on market growth.
The utilization of small aircraft for business purpose is one of the major factors driving the aviation gasoline market. Hence, business aviation is a subset of commercial aviation that relies on airplanes for commercial purposes. Around 3% of private jets registered in the U.S. are run by Fortune 500 corporations, according to the National Business Aviation Association (NBAA). The remaining 97% are run by diverse groups, including governments, nonprofit organizations, and large, medium, & small business. The demand for 42,500 new aircrafts over the next two decades to accommodate the world’s growing population of air passengers has a positive impact on the aviation gasoline market.
The global aviation gasoline market is expected to grow significantly due to the surge in demand for light aircraft for sightseeing, photography, tourism, and other purposes. Aerobatics, air rallies, aeromodeling, air racing, ballooning, gliding, sailplanes, and other sport activities have significantly increased piston based aircraft sales. According to General Aviation Manufacturers Association (GAMA), the sale of piston based aircraft climbed from 1,137 in 2019 to 1,213 in 2021. As a result, the rise in demand for small planes and the growth in popularity of sporting activities are likely to boost the aviation gasoline market growth during the forecast period.
The aviation gasoline market is segmented on the basis of grade type, aircraft type, application, and region. Depending on grade type, it is divided into Avgas 100, Avgas 100 LL, and others. By aircraft type, the market is classified into fixed wings, rotorcraft, and others. Fixed wings market dominated the market share in 2021 and is expected to remain dominant during the forecast period. By application, the market is categorized into civil, military, sports & recreational, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa). The aviation gasoline market was dominated by North America in 2021 while, Asia-Pacific is expected to grow at a higher CAGR owing to high demand from emerging economies in the region.
The major companies profiled in this report include ExxonMobil Corporation, Shell plc, BP plc, TotalEnergies SE, Repsol S.A., Vitol Group, Phillips 66, Indian Oil Corporation Limited, Naftal, Hjelmco Oil AB, Chevron Corporation, Oman Oil Corporation SAOC, Sinopec Corp, Gazprom, and Sasol Limited. Rapid industrialization, modernization, and spread of information through internet have led to the development of tourism industry, which in-turn has fueled the demand for aviation gasoline. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in the application of unleaded aviation gasoline have led to attain key developments in the global aviation gasoline market trends.
COVID-19 pandemic has triggered a full-fledged crisis in 2020, with travel restrictions and aircraft cancellations imposed to stem the virus’s spread. As a result, demand for aviation turbine fuel and aviation gas has declined drastically. During the peak time of the pandemic, several flights have witnessed a reduction in operations due to the coronavirus outbreak. The majority of countries around the world are gradually opening up their market. Owing to this, demand for aviation gasoline is likely to reach normal levels. However, owing to private and corporate aircraft restrictions, aviation gasoline consumptions is still low compared to pre COVID-19. COVID-19 has forced the closure of training schools and air sports related activities.
The price of aviation gasoline is directly dependent on the crude oil prices. The demand for crude oil is deficient due to pandemic and the price of crude oil is relatively low; hence, having a negative impact on aviation gasoline cost. As demand for these products began to rise, prices for jet fuel and aviation gasoline (Avgas) market have been normalized.
Aviation gasoline is generally used to power piston engine aircraft. At typical operating temperatures, it is highly flammable and is primarily determined by its octane rating. Avgas was used in many grade, however due to decline in the demand, it has been updated to a single grade, Avgas 100/130. The growth in demand for piston engine aircraft for training, sports, and aerial application has a positive impact on market growth.
The utilization of small aircraft for business purpose is one of the major factors driving the aviation gasoline market. Hence, business aviation is a subset of commercial aviation that relies on airplanes for commercial purposes. Around 3% of private jets registered in the U.S. are run by Fortune 500 corporations, according to the National Business Aviation Association (NBAA). The remaining 97% are run by diverse groups, including governments, nonprofit organizations, and large, medium, & small business. The demand for 42,500 new aircrafts over the next two decades to accommodate the world’s growing population of air passengers has a positive impact on the aviation gasoline market.
The global aviation gasoline market is expected to grow significantly due to the surge in demand for light aircraft for sightseeing, photography, tourism, and other purposes. Aerobatics, air rallies, aeromodeling, air racing, ballooning, gliding, sailplanes, and other sport activities have significantly increased piston based aircraft sales. According to General Aviation Manufacturers Association (GAMA), the sale of piston based aircraft climbed from 1,137 in 2019 to 1,213 in 2021. As a result, the rise in demand for small planes and the growth in popularity of sporting activities are likely to boost the aviation gasoline market growth during the forecast period.
The aviation gasoline market is segmented on the basis of grade type, aircraft type, application, and region. Depending on grade type, it is divided into Avgas 100, Avgas 100 LL, and others. By aircraft type, the market is classified into fixed wings, rotorcraft, and others. Fixed wings market dominated the market share in 2021 and is expected to remain dominant during the forecast period. By application, the market is categorized into civil, military, sports & recreational, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa). The aviation gasoline market was dominated by North America in 2021 while, Asia-Pacific is expected to grow at a higher CAGR owing to high demand from emerging economies in the region.
The major companies profiled in this report include ExxonMobil Corporation, Shell plc, BP plc, TotalEnergies SE, Repsol S.A., Vitol Group, Phillips 66, Indian Oil Corporation Limited, Naftal, Hjelmco Oil AB, Chevron Corporation, Oman Oil Corporation SAOC, Sinopec Corp, Gazprom, and Sasol Limited. Rapid industrialization, modernization, and spread of information through internet have led to the development of tourism industry, which in-turn has fueled the demand for aviation gasoline. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in the application of unleaded aviation gasoline have led to attain key developments in the global aviation gasoline market trends.
Impact of COVID-19 on Global Aviation Gasoline (Avgas) Market:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market.COVID-19 pandemic has triggered a full-fledged crisis in 2020, with travel restrictions and aircraft cancellations imposed to stem the virus’s spread. As a result, demand for aviation turbine fuel and aviation gas has declined drastically. During the peak time of the pandemic, several flights have witnessed a reduction in operations due to the coronavirus outbreak. The majority of countries around the world are gradually opening up their market. Owing to this, demand for aviation gasoline is likely to reach normal levels. However, owing to private and corporate aircraft restrictions, aviation gasoline consumptions is still low compared to pre COVID-19. COVID-19 has forced the closure of training schools and air sports related activities.
The price of aviation gasoline is directly dependent on the crude oil prices. The demand for crude oil is deficient due to pandemic and the price of crude oil is relatively low; hence, having a negative impact on aviation gasoline cost. As demand for these products began to rise, prices for jet fuel and aviation gasoline (Avgas) market have been normalized.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aviation gasoline (avgas) market analysis from 2021 to 2031 to identify the prevailing aviation gasoline (avgas) market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aviation gasoline (avgas) market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aviation gasoline (avgas) market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Grade Type
- Avgas 100 (Green)
- Avgas 100LL (Blue)
- Others
By Aircraft Type
- Fixed Wings
- Rotorcraft
- Others
By Application
- Civil
- Type
- Private
- General Aviation
- Military
- Sports and Recreational
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Exxon Mobil Corporation
- Shell Plc
- BP plc
- TOTAL S.A.
- Repsol
- Vitol Group
- Phillips 66
- Indian OIl Corporation Limited
- Naftal
- Hjelmco Oil AB
- Chevron Corporation
- Oman Oil Corporation SAOC
- Sinopec Corp
- Gazprom
- Sasol Limited
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AVIATION GASOLINE (AVGAS) MARKET, BY GRADE TYPE
CHAPTER 5: AVIATION GASOLINE (AVGAS) MARKET, BY AIRCRAFT TYPE
CHAPTER 6: AVIATION GASOLINE (AVGAS) MARKET, BY APPLICATION
CHAPTER 7: AVIATION GASOLINE (AVGAS) MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Aviation Gasoline (Avgas) Market," the aviation gasoline (avgas) market size was valued at $12.5 billion in 2021, and aviation gasoline (avgas) industry is estimated to reach $18.8 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.Avgas (aviation gasoline) is an aviation gasoline used in aircraft with spark-ignited internal combustion engines. Avgas is distinguished from conventional gasoline (petrol) used in motor vehicles, which is termed mogas (motor gasoline) in aviation context. Aviation gasoline is primarily used by most of the military aircrafts and commercial airlines to maximize fuel efficiency and to lower the operational cost. Aircraft industry has expanding, which has increased the competition among aircraft aviation gasoline production in all sectors.
The demand from military sector for efficient and low cost military grade fuel has increased as all the nations are increasing their military strength. Owing to increased disposable income and boom in tourism industry, rise in air transportation has been experienced through air travel mode, which further drives the aviation gasoline market opportunities. Moreover, introduction of new flight routes and investments from government for construction of new airports also boosts the growth of aviation gasoline market trends. However, fluctuations in crude oil prices and rise in concerns over high level of carbon emissions leading to strict rules & regulations hamper the market growth. Meanwhile, emerging sustainable aviation gasoline (SAF) that is produced from typical feedstock such as cooking oil and other non-palm waste oils from animals or plants, solid waste from homes and businesses, such as packaging, paper, textiles, and food scraps hamper the aviation gasoline market growth.
The aviation gasoline market forecast is segmented on the basis of grade type, aircraft type, application, and region. Depending on grade type, it is divided into Avgas 100, Avgas 100 LL, and others. By aircraft type, the market is classified into fixed wings, rotorcraft, and others. Fixed wings market dominated the aviation gasoline market share in 2021 and is expected to remain dominant during the forecast period. By application, the market is categorized into civil, military, sports & recreational, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa). The aviation gasoline market was dominated by North America in 2021 while, Asia-Pacific is expected to grow at higher CAGR owing to high demand from emerging economies in the region.
The major companies profiled in this report include ExxonMobil Corporation, Shell plc, BP plc, TotalEnergies SE, Repsol S.A., Vitol Group, Phillips 66, Indian Oil Corporation Limited, Naftal, Hjelmco Oil AB, Chevron Corporation, Oman Oil Corporation SAOC, Sinopec Corp, Gazprom, and Sasol Limited. Rapidly industrialization, modernization, and spread of information through internet have led to the development of tourism industry which in-turn has fuelled the demand for aviation gasoline. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in the application of unleaded aviation gasoline have led to attain key developments in the global aviation gasoline market trends.
Key Findings of the Study
- As per aviation gasoline (avgas) market analysis, North America is anticipated to exhibit CAGR of 13.2% during 2022-2031.
- As per global aviation gasoline market analysis, by grade type, the Avgas 100 segment accounted for the largest share in 2021.
- By aircraft type, fixed wings aviation gasoline was the leading segment in 2021.
- By application, civil segment was the highest revenue contributor in 2021.
- Impact of COVID-19 on Global Aviation Gasoline (Avgas) Market:
- COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market.
- COVID-19 pandemic has triggered a full-fledged crisis in 2020, with travel restrictions and aircraft cancellations imposed to stem the virus’s spread. As a result, demand for aviation turbine fuel and aviation gas has declined drastically. During the peak time of the pandemic, several flights have witnessed a reduction in operations due to the coronavirus outbreak. The majority of countries around the world are gradually opening up their market. Owing to this, demand for aviation gasoline is likely to reach normal levels. However, owing to private and corporate aircraft restrictions, aviation gasoline consumptions is still low compared to pre COVID-19. COVID-19 has forced the closure of training schools and air sports related activities.
- The price of aviation gasoline is directly dependent on the crude oil prices. The demand for crude oil is deficient due to pandemic and the price of crude oil is relatively low; hence, having a negative impact on aviation gasoline cost. As demand for these products began to rise, prices for jet fuel and aviation gasoline (Avgas) market have been normalized.
Companies Mentioned
- Exxon Mobil Corporation
- Shell plc
- Bp plc
- Total S.A.
- Repsol
- Vitol Group
- Phillips 66
- Indian Oil Corporation Limited
- Naftal
- Hjelmco Oil Ab
- Chevron Corporation
- Oman Oil Corporation Saoc
- Sinopec Corp
- Gazprom
- Sasol Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 371 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 12.5 billion |
| Forecasted Market Value ( USD | $ 18.8 billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
