Saudi Arabia E Fuel Market Size & Outlook, 2023-2050
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Saudi Arabia e fuel market highlights
- The Saudi Arabia e fuel market generated a revenue of USD 1,180.4 million in 2023 and is expected to reach USD 52,138.7 million by 2050.
- The Saudi Arabia market is expected to grow at a CAGR of 15.1% 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.
E fuel market data book summary
| Market revenue in 2023 | USD 1,180.4 million |
| Market revenue in 2050 | USD 52,138.7 million |
| Growth rate | 15.1% (CAGR from 2023 to 2050) |
| Largest segment | Hydrogen |
| Fastest growing segment | E-Methanol |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 0.9% of the global e fuel market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2050.
- In Middle East & Africa, UAE e fuel market is projected to lead the regional market in terms of revenue in 2050.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 52,138.7 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 |
Saudi Arabia 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 39.93% in 2023. Horizon Databook has segmented the Saudi Arabia e fuel market based on ethanol, hydrogen, e-methanol covering the revenue growth of each sub-segment from 2018 to 2050.
The e-fuels market in Saudi Arabia is witnessing significant growth owing to several favorable government initiatives and plans to reduce reliance on conventional fuels and promote the adoption of renewable fuels in the country. For instance, in 2021, the government of Saudi Arabia launched Vision 2030 renewable energy goal to generate 50% of its electricity from renewable fuels.
To align with this government initiative, several companies are initiating projects to scale up the production of renewable fuels in the country. For instance, in November 2022, ACWA POWER launched one of the largest plants in Makkah Province, Saudi Arabia, to increase the production of renewable fuels to generate electricity from renewable sources.
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Target buyers of Saudi Arabia 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 country-level data and insights on the Saudi Arabia e fuel market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia e fuel market from 2018 to 2050, including revenue numbers, major trends, and company profiles.
Partial client list
Saudi Arabia e fuel market size, by product, 2018-2050 (US$M)
Saudi Arabia E Fuel Market Outlook Share, 2023 & 2050 (US$M)
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