The global Diesel market reached a volume of about 26.83 million barrels per day in 2021. The industry is projected to grow at a CAGR of around 1.5% in the forecast period of 2022-2027 to reach a volume of about 29.27 million barrels per day by 2027.
The global Diesel industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rising number of automobiles is primarily driving the market growth. The Asia Pacific is the highest category spender by region that is driving the demand for the Diesel industry.
Diesel fuel or diesel oil is a flammable liquid fuel mainly intended to power diesel engines. It is often made from crude oil fractions that are less volatile than gasoline. The fuel in diesel engines is ignited by the heat of compressed air in the cylinder, rather than by a spark as in gasoline engines, with the fuel sprayed into the hot compressed air. As a result, strong compression ignition properties are required for diesel fuel. The Diesel industry report comprises segments by end-user (transportation and industrial) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The Asia Pacific holds the largest share in the industry due to the expanding number of vehicles in the region. Furthermore, the oil demand is rapidly rising in China and India. Average consumer spending has increased significantly because of the region's consistent economic development. As a result, businesses such as automobiles will rise, resulting in increased diesel fuel use.
The market is being driven by better economic growth and trade in emerging and developing countries, which is propelling the expansion of the commercial transportation sector. The various advantages of the fuel, including cheaper maintenance, more torque, fewer taxes, and improved fuel efficiency, are furthering the industry's development. Moreover, Diesel-powered vehicles degrade at a slower pace and do not need the use of coal, which saves money augmenting the market. Owing to the high energy density per unit volume, diesel is chosen in industries including heavy-duty commercial vehicles, power generation, and a variety of other industrial uses. Because of this, the industry is observing expansion. Diesel is predominantly employed in metropolitan areas, public transportation, private transportation, and freight transportation. With the expanding urban population, the number of automobiles is also rising, thus resulting in market development.
However, the adverse effects of the fuel on the environment are likely to hamper the industry's expansion.
The global Diesel industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Diesel regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.
The thick liquid is heated before being refined; this procedure converts the liquid to vapour. After that, the vapour passes via a fractional distillation tower. The vapour begins to cool as it rises. When the steam reaches a specific temperature, the hydrocarbon chains transform back into liquid. Distillation plates at various heights of the tower collect the fluids as they emerge. The boiling point of the most extended hydrocarbon chains is around 400 degrees Celsius. The chains begin to convert back into a liquid as soon as they enter the distillation tower. This appears as asphalt or bitumen at the bottom and departs. Shorter hydrocarbon chains begin to liquefy as the vapour rises. When the vapour cools below 370 degrees Celsius, fuel oil emerges. As the steam cools more, the process continues up the tower, with various distillates emerging. Diesel fuel appears when the vapour temperature hits between 200 and 350 degrees Celsius. The vapour condenses on the distillation plates before being sucked into a diesel storage tank.
The industry is being propelled by the rising oil and gas E&P investments, which are likely to provide the industry with a significant thrust. In addition, the market is seeing an increase in the deployment of hybrid power systems. Companies are embracing solar-diesel hybrid power systems as the cost of solar PV systems decreases, which will likely provide a market opportunity.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The diesel market is fragmented. The tactics used by these companies to grow their business into new areas are Expansions, acquisitions, partnerships, and new product development. Furthermore, they have been concentrating on organic and inorganic growth plans and contracts and investments.
1. Executive Summary
2. Diesel Market Snapshot
2.1. Diesel Market Outlook
2.2. Diesel Industry Analysis by End User
2.3. Region Overview
2.3.1. North America
2.3.2. Asia Pacific
2.3.4. Latin America
2.3.5. Middle East and Africa
3. Impact of Recent Events
4. Diesel Value Chain Analysis
5. Diesel Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Diesel Cost Structure
9. Diesel Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Diesel Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New Entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry Best Practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. Shell plc
15.2. Exxon Mobil Corporation
15.3. BP plc
15.4. TotalEnergies SE
15.5. Chevron Corp.
The global Diesel market size was volume of about 26.83 million barrels per day in 2021.
As per the end-use provided, the road segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for fuel in industrial applications is one of the essential drivers of the Diesel market growth.
Shell plc, Exxon Mobil Corporation, BP plc, TotalEnergies SE, and Chevron Corp. are some of the leading companies in the market.
The Asia Pacific region of the Diesel industry holds a significant share in the market.
The global Diesel market attained a volume of about 26.83 million barrels per day in 2021, driven by the better economic growth and trade in emerging and developing countries, which is propelling the expansion of the commercial transportation sector. Furthermore, the various advantages of the fuel, including cheaper maintenance, more torque, fewer taxes, and improved fuel efficiency, are furthering the industry's development. Aided by the rising oil and gas E&P investments, the deployment of hybrid power systems and solar-diesel hybrid power systems, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 1.5%. The market is projected to reach volume of about 29.27 million barrels per day by 2027. Some of the leading players in the industry are Shell plc, Exxon Mobil Corporation, BP plc, TotalEnergies SE, and Chevron Corp.
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