The Asia-Pacific E-Fuel market is anticipated to grow at a CAGR 23.9% during the forecast period. The e-fuels market in Asia-Pacific region is dominated by few of key emerging economies such as China, Japan and India. The market in Asia-Pacific region is driven by numerous factors including increase in sales of hydrogen powered electric vehicles in countries such as Japan and China. Moreover, the increasing investment by government in research and development of e-fuels in countries such as India is also propelling the growth of the market in the region. Moreover, established hydrogen fuel infrastructure in Japan is further creating opportunities of growth in the coming years. The market scenario in rest of Asia is sluggish except that in South Korea, owing to less developed infrastructure.
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Asia-Pacific E-Fuel market is segmented on the basis of fuel type, application and state of fuel. Based on fuel type, the market is segmented into E diesel, E gasoline, ethanol and hydrogen. Based on application, the market is segmented into portable, stationary and transportation. Based on state of fuel, the market is segmented into liquid fuel and gas fuel.
Asia-Pacific E-Fuel market is segmented into India, China, Japan and RoA. Japan held the highest market share in the Asia-Pacific E-Fuel market. China is estimated to be the fastest growing region in Asia-Pacific E-Fuel market. Moreover, Increasing preference towards electric vehicles and increasing investment in developing e-fuel infrastructure is promoting the growth of the market.
The key players that are active in the market include Ballard Power Systems Inc., Clean Fuel USA, E-Fuel Corp., Honda Motors, Toyota Motor Corp., Chevron Corp., Indian Oil Corp., Sinopec Lubricant Co., Petronas Lubricants International and SK Lubricants Co. Ltd. among other. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
Asia-Pacific E-Fuel Market Segmentation
By Fuel Type
- E Diesel
- E Gasoline
- Ethanol
- Hydrogen
By Application
- Portable
- Stationary
- Transportation
By State of Fuel
- Liquid Fuel
- Gas Fuel
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Regional Analysis
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
Company Profiles
- Ballard Power Systems Inc.
- Chevron Corp.
- Clean Fuel USA
- E-Fuel Corp.
- Honda Motors
- Indian Oil Corp.
- Petronas Lubricants International
- Sinopec Lubricant Co.
- SK Lubricants Co. Ltd.
- Toyota Motor Corp.
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