According to a latest research, The global Sustainable Fuel Market is projected to reach $299.9 billion by 2029 from an estimated $193.8 billion in 2024, at a CAGR of 9.1% during the forecast period.

 [9/27, 8:34 PM] Dr. AMAR NATH GIRI: According to a latest research, The global Sustainable Fuel Market is projected to reach $299.9 billion by 2029 from an estimated $193.8 billion in 2024, at a CAGR of 9.1% during the forecast period.

Governments throughout the world are enacting stronger environmental restrictions and policies to encourage the use of renewable energy. The fluctuating costs of traditional fossil fuels provide an economic incentive to invest in more stable and predictable sustainable fuel alternatives. Companies are increasingly adopting sustainable fuels as customer knowledge and demand for ecologically friendly products rise.  Many businesses are establishing aggressive sustainability goals, such as using renewable fuels to satisfy their environmental obligations are few of the major drivers anticipated to propel the growth of the market.

[9/27, 8:36 PM] Dr. AMAR NATH GIRI: Based on Fuel type, the sustainable fuel market is segmented into five types of fuels: Biofuels, Biomethane, Hydrogen, Compressed Natural Gas (CNG) and e-fuels. Among them, the Biofuels will be the largest segment. Biofuels are viewed as a greener alternative to fossil fuels, as they reduce GHG emissions significantly and contribute to climate change mitigation. This environmental benefit is a major driver of their expansion. Furthermore, biofuels help to reduce dependency on imported fossil fuels, so improving national energy security. Countries may mitigate the risks of oil price volatility and geopolitical crises by diversifying their energy sources. Furthermore, growing prices for traditional jet fuels encourage the aviation industry to look for more cost-effective and sustainable options, driving demand for aviation biofuel.

[9/27, 8:37 PM] Dr. AMAR NATH GIRI: This report segments the sustainable fuel market based on state into 2 categories: Gas and Liquid. The gas segment is expected to be the fastest-growing segment in the sustainable fuel market. To reduce greenhouse gas emissions, governments throughout the world are implementing stricter environmental restrictions. This legislative drive promotes the use of cleaner alternatives such as biomethane, CNG, and hydrogen, which benefits the gas category in the sustainable fuel market. Furthermore, advances in gas generation, storage, and distribution technologies have considerably enhanced the efficiency and viability of renewable gases such as biomethane and hydrogen. alternative developments cut prices while increasing the usefulness of alternative fuels. Furthermore, sustainable gasses improve energy security by lowering reliance on imported fossil fuels. Diversifying the energy mix with local and renewable gas sources helps to stabilize energy supply and costs, which encourages their use.