Asia-Pacific E-Fuels Market Research Report, 2029
The Asia-Pacific E-Fuels Market is segmented into By End-user (Aviation, Marine, Industrial, Railway, Automotive and Others), By Application (Transportation, Industrial, Power Generation and Others), By Type of E-fuel (E-kerosene (Synthetic Aviation Fuel), E-diesel, E-gasoline, E-methanol and Other Hydrocarbons) and By Technology (Hydrogen technology (Electrolysis), Fischer-Tropsch and Reverse-Water-Gas-Shift (RWGS)).
- Actual Market Research
- 02-10-2024
- Pages : 100
- Figures : 14
- Tables : 33
- Region : Asia-Pacific
- Category : Energy & Utility
- Alternative & Renewables
The Asia Pacific e-fuel market is set to grow at a CAGR of 26.01% from 2024 to 2029, driven by rapid industrialization and efforts to reduce fossil fuel dependency.
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- CAGR (2024-2029) 0.2601%
- Largest MarketChina
- Fastest Market India
- Format
Featured Companies
- 1. Totalenergies SE
- 2. Repsol S.A
- 3. Bharat Petroleum Corporation Limited
- 4. Gevo, Inc.
- 5. Siemens Energy AG
- More...
E-Fuels Market Analysis
The Asia Pacific (APAC) e-fuel market is expanding rapidly due to rising demand for sustainable energy solutions, fuelled by environmental restrictions and a shift towards carbon-neutral initiatives. APAC countries are quickly adopting e-fuels, establishing the area as a major player in the global e-fuel business. Initially, the region's interest in renewable energy technology centred on solar, wind, and hydropower, with little emphasis on synthetic fuels. However, with the development of improved hydrogen generation technologies and growing political commitment for decarbonisation, e-fuels began to emerge as a viable alternative. Japan, South Korea, and China became early users of hydrogen-based technologies, laying the framework for e-fuel development. These countries began to invest in infrastructure for renewable energy, hydrogen electrolysis, and carbon capture technology. On the one side, the pandemic created infrastructure project delays and supply chain disruptions, impeding the development and deployment of e-fuel technology. On the other side, the post-pandemic recovery period allowed governments to refocus their economic strategy towards sustainability. Several APAC countries launched "green recovery" policies that prioritised sustainable energy investments, such as e-fuels. Japan's "Basic Hydrogen Strategy" seeks to promote hydrogen as a vital component of its clean energy future, including the development of e-fuels. Similarly, South Korea's "Hydrogen Economy Roadmap" focusses on developing a hydrogen-based ecosystem and encouraging developments in the synthetic fuel sector. China's 14th Five-Year Plan (2021-2025) focusses on achieving carbon neutrality by 2060, with a special emphasis on increasing renewable energy and carbon capture technology. According to the research report "Asia Pacific E-Fuel Market Research Report, 2029," published by Actual Market Research, the Asia Pacific (APAC) e-fuel market is anticipated to grow at more than 26.01% CAGR from 2024 to 2029. Countries such as Japan and South Korea have pioneered advances in hydrogen generation, particularly through electrolysis, which is critical for producing the hydrogen required for e-fuel synthesis. Japan's breakthroughs in hydrogen-powered vehicles, such as the Toyota Mirai, have also helped to accelerate the development of hydrogen-based e-fuels. Toyota of Japan and Hyundai of South Korea are two of the world's premier automakers, pioneering hydrogen and synthetic fuel breakthroughs. In the energy sector, large oil and gas firms such as China National Petroleum Corporation (CNPC) and Mitsubishi Corporation of Japan are investing extensively in hydrogen generation and carbon capture technology to assist e-fuel manufacturing. Japan's Ministry of Economy, Trade, and Industry (METI) has cooperated with large firms such as Toshiba and Panasonic to speed up hydrogen infrastructure development. Countries such as Japan and South Korea are importing modern carbon capture technologies from Europe and North America to boost their e-fuel manufacturing capacity. At the same time, these countries are exporting hydrogen manufacturing technologies and synthetic fuel advances to other APAC countries as well as global markets. China, with its huge industrial capacity, is emerging as a significant exporter of hydrogen production equipment and carbon capture technologies. It is also presenting itself as a significant participant in the export of synthetic fuel technologies, using its Belt and Road Initiative (BRI) to form partnerships with other nations to promote the use of renewable energy alternatives. In South Korea, SK Group and Hyundai are the top suppliers of hydrogen and synthetic fuel infrastructure.
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Download SampleMarket Dynamic
Market Drivers Decarbonisation in Transportation and Aviation: The transportation and aviation sectors make considerable contributions to global CO2 emissions. E-fuels, which are made from renewable power, provide a realistic approach for decarbonising these businesses. In aviation, e-kerosene, a type of e-fuel, is gaining popularity as an alternative to conventional jet fuels, owing to the industry's quest for sustainable air travel. The maritime industry is also investing in e-fuels such as e-methanol and e-ammonia for cleaner shipping. Abundant renewable energy resources: Asia-Pacific countries such as China, Australia, and India have an abundance of renewable energy resources, particularly solar and wind power, which are vital for manufacturing green hydrogen, an essential component of e-fuels. Renewable electricity at competitive pricing makes e-fuel production more feasible in this location. Market Challenges Limited Infrastructure: Many Asia-Pacific countries are still in the early stages of developing the infrastructure needed for e-fuel distribution and storage. Creating the requisite logistics and refuelling networks, especially for aviation and shipping, would necessitate enormous investment. Without proper infrastructure, the widespread adoption of e-fuels may be hampered. Technological and regulatory hurdles: E-fuels are still a relatively new technology, and the sector confronts a number of technological obstacles, such as improving manufacturing efficiency and scaling them up to satisfy industrial demands. Furthermore, regulatory frameworks governing e-fuel production and consumption are not yet fully defined, causing uncertainty for enterprises wishing to engage in the field. Market Trends Expansion in Aviation and Shipping: Aviation and shipping are likely to be the most important sectors for e-fuels in Asia Pacific. The International Civil Aviation Organisation (ICAO) and the International Maritime Organisation (IMO) have set aggressive targets for lowering emissions in their respective industries, which is increasing demand for sustainable fuels. E-kerosene and e-methanol are being developed as potential alternatives to traditional aviation and marine fuel. Growing Focus on Green Hydrogen: Green hydrogen is an important feedstock for creating e-fuels, and its production is quickly expanding throughout the region. Countries such as Australia and Japan are emerging as pioneers in green hydrogen generation, with large-scale projects geared at meeting domestic and international demand. The increasing availability of green hydrogen is predicted to reduce the prices of e-fuel production over time, making it more competitive with traditional fuels.
E-Fuels Segmentation
| By End-use | Aviation | |
| Marine | ||
| Industrial | ||
| Railway | ||
| Automotive | ||
| Others | ||
| By Application | Transportation | |
| Industrial | ||
| Power Generation | ||
| Others | ||
| By Type of E-fuel | E-kerosene (Synthetic Aviation Fuel) | |
| E-diesel | ||
| E-gasoline | ||
| E-methanol | ||
| Other Hydrocarbons | ||
| By Technology | Hydrogen technology (Electrolysis) | |
| Fischer-Tropsch | ||
| Reverse-Water-Gas-Shift (RWGS) | ||
| Asia-Pacific | China | |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
The Asia-Pacific e-fuel market is led by aviation, which is driven by the pressing need to cut carbon emissions in long-distance travel. E-fuels, such as e-kerosene, are especially important for decarbonising aviation because battery-electric solutions for long-haul flights are currently impracticable due to energy density constraints. Major airlines and governments in the region, particularly in Japan, Australia, and South Korea, are substantially investing in e-fuel technologies to achieve these objectives. Aviation's emphasis on sustainable fuel alternatives places it at the top of the e-fuel adoption curve.Leading local firms in the Asia-Pacific e-fuel market include Norsk e-Fuel, which produces e-fuels using carbon capture technology, and Mabanaft GmbH & Co. KG, which specialises in e-fuel distribution. Furthermore, Enel Green Power is significantly involved in renewable energy initiatives related to e-fuel generation, whilst Engie and Synhelion are known for their breakthroughs in power-to-liquid processes. JERA Co., Inc. of Japan and Fortescue Future Industries (FFI) of Australia are both making substantial progress in the manufacture of green hydrogen and e-fuels, with the goal of supplying both domestic and international aviation and shipping sectors. Following aviation, the marine sector is seeing significant development in e-fuel usage, with e-methanol and e-ammonia gaining popularity as greener options to shipping. The IMO's tougher pollution controls are driving demand for cleaner fuels in the maritime industry. In the Asia-Pacific e-fuel market, the transportation industry leads in e-fuel. In the Asia-Pacific e-fuel market, the transportation industry leads in e-fuel adoption, particularly in aviation and shipping, which face the most regulatory and environmental challenges to reduce carbon emissions. Transportation, particularly long-haul aircraft and maritime transportation, has fewer low-carbon alternatives than other industries, such as automotive, where electric vehicles (EVs) are becoming more prevalent. E-fuels offer a viable alternative to fossil fuels by using renewable energy. Leading domestic e-fuel firms include Australia's Fortescue Future Industries (FFI), which is developing green hydrogen and e-fuel projects for aviation and shipping. Japan's JERA Co., Inc. is also significantly involved in the production of e-fuels using renewable energy. Other major participants include Mitsubishi Power and IHI Corporation, which are investing in e-fuel technology for the transportation and industrial sectors. On the other side, the industrial and power generation sectors are seeing slower uptake of e-fuels, owing mostly to competition from other decarbonisation technologies such as hydrogen and renewable energy. In aviation, e-kerosene is a possible alternative to traditional jet fuel, and many Asia-Pacific airlines and government agencies are actively investigating e-fuels to satisfy carbon neutrality requirements. The marine sector is studying e-methanol and e-ammonia as low-emission fuels for ships, spurred by severe IMO rules. The Asia-Pacific e-fuel market is led by e-kerosene (synthetic aviation fuel). The Asia-Pacific e-fuel market is led by e-kerosene (synthetic aviation fuel), which is driven by the aviation sector's urgent demand for sustainable fuel alternatives to achieve rigorous decarbonisation targets. E-kerosene, produced using renewable power and carbon capture technologies, is regarded as the most viable alternative to traditional jet fuels, which account for a substantial amount of transportation emissions. Because battery-electric solutions are now impracticable for long-haul aviation, e-kerosene offers a short-term alternative for lowering emissions in this essential industry. Major airlines in Japan, South Korea, and Australia are testing e-kerosene as part of their sustainability plans. JERA Co., Inc. and ENEOS Corporation of Japan are two of the leading local firms active in the manufacture and research of e-kerosene. These companies are heavily investing in projects that produce renewable hydrogen and synthetic fuels. In Australia, Fortescue Future Industries (FFI) is another significant participant driving efforts to increase green hydrogen production, which is required for e-kerosene manufacturing. In addition, South Korea's Korea Electric Power Corporation (KEPCO) is helping to advance e-fuel technology in the region. E-methanol, despite growing popularity, mostly serves the shipping industry. Although e-methanol is becoming a greener alternative to marine fuels in maritime transport, it is not as widely used as e-kerosene in aviation. Hydrogen technology (Electrolysis) is the most widely adopted and developed e-fuel in Asia-Pacific. This method eliminates carbon emissions from hydrogen used in e-fuel production, making it a preferred technology in regions like Japan, Australia, and South Korea. Governments are actively promoting hydrogen-based solutions to decarbonise multiple sectors, including transportation and industry. Countries such as Japan have led the way in hydrogen technology innovation, with companies like ENEOS Corporation and Iwatani Corporation investing extensively in hydrogen generation and electrolysis technologies. Fortescue Future Industries (FFI) of Australia is also a prominent player, leading large-scale green hydrogen projects aimed at serving domestic markets as well as exporting hydrogen for e-fuel manufacturing. Fischer-Tropsch and Reverse-Water-Gas-Shift (RWGS) technologies are used to convert hydrogen and collected CO? into synthetic fuels, but are not as frequently used as electrolysis. Compared to hydrogen electrolysis, Fischer-Tropsch is less widely used due to its greater production costs and energy requirements. In the majority of regions, RWGS is still in its early stages. Several companies in Japan and South Korea are researching RWGS for its potential to reduce CO? emissions and create feedstocks for e-fuel manufacturing. Nonetheless, hydrogen electrolysis remains the primary technology driving the regional e-fuel market.
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E-Fuels Market Regional Insights
Japan leads the Asia-Pacific e-fuel system market, owing to its strong commitment to hydrogen technology. Japan has taken the initiative to set ambitious climate targets, with the objective of becoming carbon neutral by 2050. The country's government has played an important role in developing regulations that encourage the use of e-fuels, particularly through the development and adoption of renewable hydrogen. This corresponds with Japan's objective to reduce dependency on fossil fuels while supporting the aviation and shipping industries. E-fuels, such as e-kerosene and e-methanol, are being integrated as sustainable alternatives. Japan's expertise in e-fuel technology is further supported by a significant investment in hydrogen infrastructure. Major Japanese firms such as ENEOS Corporation and Iwatani Corporation are leading the way in green hydrogen production, utilising electrolysis technology to generate hydrogen for e-fuels. These companies have strong ties with international players and are active in large-scale hydrogen initiatives, both locally and globally. Japan's support for innovations such as Fischer-Tropsch and Reverse-Water-Gas-Shift (RWGS) technologies, which convert hydrogen and CO? into synthetic fuels, demonstrates a comprehensive approach to the e-fuel industry. The country has collaborated with worldwide firms and research organisations to develop e-fuel technology. This leadership is projected to continue as the government works to implement sustainable energy solutions across many industries.
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Companies Mentioned
- Totalenergies SE
- Repsol S.A
- Bharat Petroleum Corporation Limited
- Gevo, Inc.
- Siemens Energy AG
- FuelCell Energy, Inc.
- Sunfire GmbH
- Ceres Power Holdings plc
- Boots UK Limited
- FANCL Corporation
- Blackmores Limited
Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global E-Fuel Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By End Use
- 5.4. Market Size and Forecast, By Application
- 5.5. Market Size and Forecast, By Type of E-Fuel
- 5.6. Market Size and Forecast, By Technology
- 6. Market Dynamics
- 6.1. Market Drivers & Opportunities
- 6.2. Market Restraints & Challenges
- 6.3. Market Trends
- 6.3.1. XXXX
- 6.3.2. XXXX
- 6.3.3. XXXX
- 6.3.4. XXXX
- 6.3.5. XXXX
- 6.4. Covid-19 Effect
- 6.5. Supply chain Analysis
- 6.6. Policy & Regulatory Framework
- 6.7. Industry Experts Views
- 7. Asia-Pacific E-Fuel Market Outlook
- 7.1. Market Size By Value
- 7.2. Market Share By Country
- 7.3. Market Size and Forecast, By End Use
- 7.4. Market Size and Forecast, By Application
- 7.5. Market Size and Forecast, By Type of E-Fuel
- 7.6. Market Size and Forecast, By Technology
- 7.7. China E-Fuel Market Outlook
- 7.7.1. Market Size By Value
- 7.7.2. Market Size and Forecast By End Use
- 7.7.3. Market Size and Forecast By Application
- 7.7.4. Market Size and Forecast By Type of E-Fuel
- 7.7.5. Market Size and Forecast By Technology
- 7.8. Japan E-Fuel Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By End Use
- 7.8.3. Market Size and Forecast By Application
- 7.8.4. Market Size and Forecast By Type of E-Fuel
- 7.8.5. Market Size and Forecast By Technology
- 7.9. India E-Fuel Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By End Use
- 7.9.3. Market Size and Forecast By Application
- 7.9.4. Market Size and Forecast By Type of E-Fuel
- 7.9.5. Market Size and Forecast By Technology
- 7.10. Australia E-Fuel Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By End Use
- 7.10.3. Market Size and Forecast By Application
- 7.10.4. Market Size and Forecast By Type of E-Fuel
- 7.10.5. Market Size and Forecast By Technology
- 7.11. South Korea E-Fuel Market Outlook
- 7.11.1. Market Size By Value
- 7.11.2. Market Size and Forecast By End Use
- 7.11.3. Market Size and Forecast By Application
- 7.11.4. Market Size and Forecast By Type of E-Fuel
- 7.11.5. Market Size and Forecast By Technology
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. HIF Global
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. Methanex Corporation
- 8.5.3. Siemens Energy AG
- 8.5.4. MAN Energy Solutions
- 8.5.5. Repsol S.A.
- 8.5.6. Greenko Energy Holdings
- 8.5.7. Neste Oyj
- 8.5.8. TotalEnergies SE
- 8.5.9. Eni S.p.A.
- 8.5.10. Ceres Power Holdings plc
- 8.5.11. eFuel Pacific Limited
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global E-Fuel Market Size and Forecast, By End Use (2018 to 2029F) (In USD Billion)
Table 6: Global E-Fuel Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 7: Global E-Fuel Market Size and Forecast, By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 8: Global E-Fuel Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 9: Influencing Factors for E-Fuel Market, 2023
Table 10: Asia-Pacific E-Fuel Market Size and Forecast, By End Use (2018 to 2029F) (In USD Billion)
Table 11: Asia-Pacific E-Fuel Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 12: Asia-Pacific E-Fuel Market Size and Forecast, By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 13: Asia-Pacific E-Fuel Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 14: China E-Fuel Market Size and Forecast By End Use (2018 to 2029F) (In USD Billion)
Table 15: China E-Fuel Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 16: China E-Fuel Market Size and Forecast By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 17: China E-Fuel Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 18: Japan E-Fuel Market Size and Forecast By End Use (2018 to 2029F) (In USD Billion)
Table 19: Japan E-Fuel Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 20: Japan E-Fuel Market Size and Forecast By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 21: Japan E-Fuel Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 22: India E-Fuel Market Size and Forecast By End Use (2018 to 2029F) (In USD Billion)
Table 23: India E-Fuel Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 24: India E-Fuel Market Size and Forecast By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 25: India E-Fuel Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 26: Australia E-Fuel Market Size and Forecast By End Use (2018 to 2029F) (In USD Billion)
Table 27: Australia E-Fuel Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 28: Australia E-Fuel Market Size and Forecast By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 29: Australia E-Fuel Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 30: South Korea E-Fuel Market Size and Forecast By End Use (2018 to 2029F) (In USD Billion)
Table 31: South Korea E-Fuel Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 32: South Korea E-Fuel Market Size and Forecast By Type of E-Fuel (2018 to 2029F) (In USD Billion)
Table 33: South Korea E-Fuel Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
?
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global E-Fuel Market Share By Region (2023)
Figure 6: Asia-Pacific E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Asia-Pacific E-Fuel Market Share By Country (2023)
Figure 8: China E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Japan E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: India E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Australia E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: South Korea E-Fuel Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2023
Figure 14: Porter's Five Forces of Global E-Fuel Market
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