Middle East & Africa E Fuel Market Size & Outlook
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MEA e fuel market highlights
- The MEA e fuel market generated a revenue of USD 3,819.3 million in 2023.
- The market is expected to grow at a CAGR of 14.4% from 2024 to 2050.
- In terms of segment, hydrogen was the largest revenue generating product in 2023.
- E-Methanol is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2050.
MEA data book summary
| Market revenue in 2023 | USD 3,819.3 million |
| Market revenue in 2050 | USD 145,883.2 million |
| Growth rate | 14.4% (CAGR from 2023 to 2050) |
| Largest segment | Hydrogen |
| Fastest growing segment | E-Methanol |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2050 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ethanol, Hydrogen, E-Methanol |
| Key market players worldwide | Archer-Daniels Midland Co, Ballard Power Systems Inc, Ceres Power Holdings PLC, Hexagon Composites ASA, Neste OYJ, Clean Fuels Alliance America, Climeworks, EFUEL |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.1% of the global e fuel market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2050.
- North America is the fastest growing regional market and is projected to reach USD 4,591,913.4 million by 2050.
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E Fuel Market Scope
E Fuel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| EFUEL | View profile | 11-50 | Los Gatos, California, United States, North America | http://www.efuel100.com |
| Climeworks | View profile | 251-500 | Zürich, Zurich, Switzerland, Europe | http://www.climeworks.com |
| Clean Fuels Alliance America | View profile | 11-50 | Jefferson City, Montana, United States, North America | https://www.nbb.org/ |
| Hexagon Composites ASA | View profile | 1149 | Korsegata 4B, P.O. Box 836, Sentrum, Aalesund, Norway, 6002 | https://www.hexagongroup.com |
| Neste OYJ | View profile | 5942 | Keilaranta 21, P.O. Box 95, Neste, Espoo, Finland, 00095 | https://www.neste.com |
| Ceres Power Holdings PLC | View profile | 591 | Foundry Lane, Viking House, Horsham, West Sussex, United Kingdom, RH13 5PX | https://www.cerespower.com |
| Ballard Power Systems Inc | View profile | 1173 | 9000 Glenlyon Parkway, Burnaby, BC, Canada, V5J 5J8 | https://www.ballard.com |
| Archer-Daniels Midland Co | View profile | 41802 | 77 West Wacker Drive, Suite 4600, Chicago, IL, United States, 60601 | https://www.adm.com |
Middle East & Africa e fuel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to e fuel market will help companies and investors design strategic landscapes.
Hydrogen was the largest segment with a revenue share of 39.51% in 2023. Horizon Databook has segmented the Middle East & Africa e fuel market based on ethanol, hydrogen, e-methanol covering the revenue growth of each sub-segment from 2018 to 2050.
The Middle East & African market for e-fuels, such as e-diesel, e-kerosene, e-gasoline, and others, is driven by several favorable government initiatives and policies taking place in the region. For instance, in Dubai, the Dubai Integrated Energy Strategy 2030 promotes the production and utilization of renewable fuels to achieve the target of reducing greenhouse and carbon emissions in the country by 2030.
In addition, according to TradeMap Data 2022, countries such as UAE, Saudi Arabia, Equatorial Guinea, Oman, Bahrain, and Egypt were some of the top exporters of e-fuels. For instance, the UAE accounted a revenue of 36,271 for biodiesel exports in 2022.
This can be attributed to the abundant availability of raw materials such as fossil fuels coupled with the presence of numerous manufacturers operating in the regional market. Such factors act as a base for the development of renewable fuels in the region.
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Target buyers of Middle East & Africa e fuel market databook
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Our clientele includes a mix of e fuel market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa e fuel market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa e fuel market from 2018 to 2050, including revenue numbers, major trends, and company profiles.
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MEA e fuel market size, by country, 2018-2050 (US$M)
Middle East & Africa E Fuel Market Outlook Share, 2023 & 2050 (US$M)
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