The Asia Pacific Aviation fuel card market was valued at US$ 326.18 million in 2022 and is expected to reach US$ 699.74 million by 2030; it is estimated to register a CAGR of 10.0% from 2022 to 2030.
Aviation fuel card suppliers can expand their business by offering attractive offers and discounts on the purchase of sustainable aviation fuel. This will ultimately lead to higher adoption and usage of aviation fuel cards. Further, by partnership with fixed-based operators, fuel card service providers can expand the network to supply sustainable aviation fuel. Thus, the rise in sustainable aviation fuel transactions is anticipated to have ample opportunities for the aviation fuel card market growth during the forecast period.
The demand for conventional aviation fuel is growing in Asia Pacific due to rising air travel. In contrast, in developed nations, the demand for sustainable aviation fuel is growing, owing to increased preferences for reducing carbon emissions. Thus, aviation fuel card service providers have lucrative opportunities in Asia Pacific owing to the rising need for aviation fuel. Considering the thin margins and benefits offered by aviation fuel cards, the adoption and usage of aviation fuel card is projected to increase during 2022-2030.
Based on type, the Asia Pacific aviation fuel card market is bifurcated into merchant and branded. The merchant segment held a larger Asia Pacific aviation fuel card market share in 2022.
In terms of application, the Asia Pacific aviation fuel card market is bifurcated into commercial and private. The commercial segment held a larger Asia Pacific aviation fuel card market share in 2022.
By country, the Asia Pacific aviation fuel card market is segmented into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific aviation fuel card market share in 2022.
Associated Energy Group LLC, Avfuel Corp, BP Plc, Shell Plc, TITAN Aviation Fuels Inc, TotalEnergies SE, and Viva Energy Group Ltd are among the leading companies operating in the Asia Pacific aviation fuel card market.
Growing Adoption of Sustainable Aviation Fuel Bolsters Asia Pacific Aviation Fuel Card Market
The need for sustainable aviation fuel is growing significantly to reduce carbon emissions in the aviation industry. Sustainable aviation fuel (SAF) is an alternative jet fuel derived from renewable and waste feedstocks that can reduce greenhouse gas emissions during its entire lifecycle Thirty-eight of the world's largest airlines have pledged to reach net-zero emissions targets by 2050 or before, Alaska Airlines, American Airlines, Delta, JetBlue, Southwest, and United Airlines are some of them. Furthermore, ~30 countries have established a few SAF implementation targets. Many fuel producers and airline operators are taking initiatives to develop and adopt sustainable aviation fuel.Aviation fuel card suppliers can expand their business by offering attractive offers and discounts on the purchase of sustainable aviation fuel. This will ultimately lead to higher adoption and usage of aviation fuel cards. Further, by partnership with fixed-based operators, fuel card service providers can expand the network to supply sustainable aviation fuel. Thus, the rise in sustainable aviation fuel transactions is anticipated to have ample opportunities for the aviation fuel card market growth during the forecast period.
Asia Pacific Aviation Fuel Card Market Overview
Many emerging economies are investing heavily in airport infrastructure to boost their connectivity and interest in tourism and trade. Establishing new airports and expanding existing ones require fuel suppliers. This enables fuel-producing companies and aviation fuel card service providers to expand their network in emerging countries from Asia Pacific. For instance, in April 2023, the Government of India announced its plans to invest ~US$ 11.81 billion in the development of airport infrastructure over the next two years. This investment is a response to the growing travel demand and the need to upgrade and expand existing airport facilities to accommodate the increasing number of passengers and aircraft.The demand for conventional aviation fuel is growing in Asia Pacific due to rising air travel. In contrast, in developed nations, the demand for sustainable aviation fuel is growing, owing to increased preferences for reducing carbon emissions. Thus, aviation fuel card service providers have lucrative opportunities in Asia Pacific owing to the rising need for aviation fuel. Considering the thin margins and benefits offered by aviation fuel cards, the adoption and usage of aviation fuel card is projected to increase during 2022-2030.
Asia Pacific Aviation Fuel Card Market Segmentation
The Asia Pacific aviation fuel card market is categorized into type, application, and country.Based on type, the Asia Pacific aviation fuel card market is bifurcated into merchant and branded. The merchant segment held a larger Asia Pacific aviation fuel card market share in 2022.
In terms of application, the Asia Pacific aviation fuel card market is bifurcated into commercial and private. The commercial segment held a larger Asia Pacific aviation fuel card market share in 2022.
By country, the Asia Pacific aviation fuel card market is segmented into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific aviation fuel card market share in 2022.
Associated Energy Group LLC, Avfuel Corp, BP Plc, Shell Plc, TITAN Aviation Fuels Inc, TotalEnergies SE, and Viva Energy Group Ltd are among the leading companies operating in the Asia Pacific aviation fuel card market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Asia Pacific Aviation Fuel Card Market Landscape
5. Asia Pacific Aviation Fuel Card Market - Key Industry Dynamics
6. Aviation Fuel Card Market - Asia Pacific Market Analysis
7. Asia Pacific Aviation Fuel Card Market Analysis - Type
8. Asia Pacific Aviation Fuel Card Market Analysis - Application
9. Asia Pacific Aviation Fuel Card Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Associated Energy Group LLC
- Avfuel Corp
- BP Plc
- Shell Plc
- TITAN Aviation Fuels Inc
- TotalEnergies SE
- Viva Energy Group Ltd
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 71 |
Published | May 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 326.18 Million |
Forecasted Market Value ( USD | $ 699.74 Million |
Compound Annual Growth Rate | 10.0% |
Regions Covered | Asia Pacific |